The Life Insurance Corporation of India constantly introduces diverse schemes to cater to people from all walks of life.
One such scheme is the LIC Dhan Vriddhi Plan, set to conclude on September 30, 2023.
In a recent tweet, LIC announced the approaching end of this plan, making it your final opportunity to participate. Here are the crucial details you need to know:
What is the LIC Dhan Vriddhi Policy?
The LIC Dhan Vriddhi Plan is a single premium policy designed for individual savings. It is non-linked and non-participating, offering both security and savings benefits.
In the unfortunate event of the policyholder’s demise, it provides financial support to their family.
Conversely, if the policyholder survives, they receive a fixed amount upon maturity. LIC initiated this policy on June 23, 2023.
Two Plan Options Available
Investors have two plan options under LIC Dhan Vriddhi. The first option offers a sum assured up to 1.25 times, while the second option provides up to 10 times the sum assured, which can be claimed as a guaranteed death benefit.
You can opt for policy durations of 10, 15, or 18 years, and it’s available for individuals aged 32 to 60 years.
At maturity, the policy offers various additional benefits in addition to the basic sum assured.
Tax Benefits and Loan Facilities
Investing in this scheme offers a tax rebate of up to Rs 1.5 lakh under Section 80C of Income Tax.
Additionally, you have the option to secure a loan against the LIC Dhan Vriddhi Plan if the need arises.
To purchase this policy, you can contact an agent for offline investment or visit the Common Public Service Centre. For online purchases, head to LIC’s official website at www.licindia.in.
Act now, as time is running out to secure your financial future with LIC Dhan Vriddhi Plan.
