HomeLife InsuranceLIC Dhan Rekha Plan 863: A Guaranteed Benefit Money Back Plan

LIC Dhan Rekha Plan 863: A Guaranteed Benefit Money Back Plan

LIC Dhan Rekha Plan 863, a guaranteed benefit and money-back plan, has been developed by the Life Insurance Company of India (LIC). This plan is distinguished by assured additions and fixed maturity rewards. Dhan Rekha plan is a non-linked, non-participating individual savings cum insurance plan that has a single premium payment for 10 years, 15 years, and 20 years.

Also, by investing in the LIC Dhan Rekha plan no 863 details, you can receive a significant return of Rs 23 lakh for just Rs 6.7 lakh. This implies you will earn three times your initial investment. Hence, don’t pass up this opportunity and continue reading to learn more about the LIC’s Dhan Rekha Plan 863 details.

Read more: LIC Jeevan Arogya Plan 904

What is LIC Dhan Rekha Plan 863?

LIC Dhan Rekha plan 863 is a LIC life insurance plan that provides an enticing combination of protection and savings. The LIC Dhan Rekha plan is a non-linked, non-participating money-back plan for individual savings. Furthermore, if the policyholder dies during the policy period, the Dhan Rekha LIC plan gives financial assistance to the policyholder’s family.

The Dhan Rekha LIC plan also has a loan option that can be used for liquidity. The plan includes a variety of benefits and features, as well as reduced premium rates for female lives. The Dhan Rekha LIC plan allows for either yearly premium payments or one-time investments. It provides a maximum guaranteed increase of Rs. 60 for every thousand basic SA, making it an excellent investment for making quick and simple money.

The Dhan Rekha LIC policy provides financial support to loved ones in the event of the policyholder’s untimely death during the policy term. Nonetheless, in order to ensure the policyholder’s survival, payments will be given on a regular basis, with a guaranteed lump sum payout guaranteed at maturity.

Eligibility of LIC Dhan Rekha Plan 863

To purchase the LIC Dhan Rekha plan 863 details, you must meet the following eligibility requirements.

Eligibility conditions For LIC Dhan Rekha Plan
Policy Term20 Years30 Years40 Years
Premium Payment10 years/Single Premium15 Years/Single Premium20 Years/Single Premium
Minimum Age at Entry8 Years completed3 Years completed90 days completed
Maximum Age at Entry
(Single Premium)
60 Years (NBD)50 Years (NBD)40 Years (NBD)
Maximum Age at Entry
(Limited Premium)
55 Years (NBD)45 Years (NBD)35 Years (NBD)
Minimum Age at Maturity28 years (completed)33 years (completed)40 years (completed)
Maximum Age at MaturitySingle Premium – 80 Years (NBD) Limited Premium-75 Years (NBD)

Features of LIC Dhan Rekha Plan 863

The LIC Dhan Rekha plan provides policyholders with a wealth of benefits, some of which are listed below.

1. Non-Linked & Non-Participating

The LIC Dhan Rekha plan is a non-linked, non-participating, savings and money-back plan for individuals.

2. Premium Payment

The LIC Dhan Rekha plan has a single premium choice as well as a limited premium payment plan that is paid for half of the insurance term either yearly, half-yearly, quarterly, or monthly.

3. Loan Facility

The plan offers policyholders a lending facility to help them satisfy their liquidity demands.

4. Additional Riders

The package includes a number of riders for an additional fee.

5. Payment Of Premiums

The plan’s premiums can be paid yearly, half-yearly, quarterly, or monthly.

6. Grace Period

For unpaid premiums, there is a grace period. For yearly, half-yearly, or quarterly premiums, a grace period of 30 days is effective from the date of the first unpaid premium. Monthly payments are also allowed a 15-day grace period.

7. Surrender

If the policy is paid with a single premium, the policyholder can surrender it at any time throughout the policy term of the LIC Dhan Rekha plan details. Also, if two full years’ premiums are paid under limited premium payment, the policyholder can surrender at any time.

8. Free Look-Up Period

If the policyholder is dissatisfied with the policy’s terms and conditions, the insurance can be returned to the company. After receiving the policy bond, the LIC Dhan Rekha plan details can be returned within 15 days or 30 days if paid online.

Benefits of LIC Dhan Rekha Plan 863

The LIC Dhan Rekha plan details have various unique characteristics and perks, and any rewards obtained under the policy are totally guaranteed. The following are the key advantages of the LIC Dhan Rekha Plan 863 details.

1. Maturity Benefits

At maturity, the policyholder receives the total sum insured under the Dhan Rekha LIC plan. Together with the sum assured, the accrued guaranteed amount is returned.

2. Death Benefits

The death benefit amount is payable in the event of the policyholder’s death during the policy’s term of the LIC Dhan Rekha plan. The sum promised paid after the risk commencement date is the sum assured on death, together with the cumulative guaranteed additions.

Furthermore, in the case of single and limited premium payment choices of the Dhan Rekha LIC policy, the sum insured on death is payable at a maximum of 125% of the basic sum assured or 7 times the yearly premiums. In the restricted premium option, the death benefit cannot be less than 105% of the total premium amount paid as of the death date, minus any additional premiums, rider premiums, and taxes.

3. Survival Benefits

If the policyholder survives each of the specified tenures during the tenure of the Dhan Rekha LIC plan, and the Dhan Rekha plan is operational, a predetermined percentage of the basic sum assured is payable.

Policy Term (in years)Payment of Survival Benefit
2010 % of the Basic Sum Assured at the end of each of the 10th and 15th Years.
3015 % of the Basic Sum Assured at the end of each of the 15th, 20th, and 25th policy years.
4020% of the Basic Sum Assured at the end of each of the 20th, 25th, 30th, and 35th policy years.

4. Guaranteed Additions

The additions are payable by paying the premium in full. The assured additions accumulate from the conclusion of the sixth policy year to the end of the Dhan Rekha LIC plan term.

Policy Duration (in Years)Guaranteed additions (per 1000 Basic Sum Assured)
From the 6th policy year to the 20th policy yearRs 50
From 21 st policy year to the 30th policy yearRs 55
From 31 st policy year to the 40th policy yearRs 60

Benefit and Coverage Table for LIC Dhan Rekha Plan 863

The Dhan Rekha LIC plan 863 details guarantees a number of benefits. As an example, the coverage table for Rs 10 lakh is shown below.

  • Coverage for a 20-year term
AgeYearly PremiumNormal CoverageAccident CoverageLoanReturns
301095491250000225000000
311071911250000225000000
3210719112500002250000733930
33107191125000022500001053300
34107191125000022500001418050
35107191130000023000001978100
36107191135000023500002616030
37107191140000024000003340260
38107191145000024500004161830
39107191150000025000005091100
40015500002550000569610100000
410160000026000006267260
420165000026500006908480
430170000027000007632440
440175000027500008454280
45018000002800000939044100000
4601850000285000010538690
4701900000290000011819790
4801950000295000013250340
4902000000300000014848000
5000001750000
TotalPremium1074268TotalReturns1950000
  • Coverage for a 30-year term
AgeYearly PremiumNormal CoverageAccident CoverageLoanReturns
30781581250000225000000
31764751250000225000000
327647512500002250000275230
337647512500002250000393640
347647512500002250000527720
357647513000002300000755010
3676475135000023500001012380
3776475140000024000001303220
3876475145000024500001631340
3976475150000025000002000120
4076475155000025500002413930
4176475160000026000002878740
4276475165000026500003397660
4376475170000027000003977460
4476475175000027500004622840
45018000002800000511293150000
460185000028500005647070
470190000029000006233640
480195000029500006873580
490200000030000007576050
50020550003055000836573150000
510211000031100009093250
520216500031650009908390
5302220000322000010825470
5402275000327500011865590
550233000033300001304745150000
5602385000338500014506760
5702440000344000016135750
5802495000349500017955380
5902550000355000019996480
6000002300000
  • Coverage for a 40-year term
AgeYearly PremiumNormal CoverageAccident CoverageLoanReturns
30618721250000225000000
31605401250000225000000
326054012500002250000141950
336054012500002250000202050
346054012500002250000269890
356054013000002300000394260
366054013500002350000534310
376054014000002400000691510
386054014500002450000867340
3960540150000025000001064050
4060540155000025500001283380
4160540160000026000001527110
4260540165000026500001798060
4360540170000027000002097150
4460540175000027500002427390
4560540180000028000002790860
4660540185000028500003189600
4760540190000029000003625700
4860540195000029500004102850
4960540200000030000004625150
50020550003055000505564200000
510211000031100005521060
520216500031650006021010
530222000032200006558760
540227500032750007139780
55023300003330000776583200000
560238500033850008440810
570244000034400009168760
580249500034950009953960
5902550000355000010803110
600261000036100001174867200000
6102670000367000012599960
6202730000373000013549640
6302790000379000014612390
6402850000385000015816240
650291000039100001718867200000
6602970000397000018899980
6703030000403000020821730
6803090000409000022993290
6903150000415000025464670
7000002900000
TotalPremium1212132TotalReturns3700000

Optional Benefits Available Under LIC Dhan Rekha Plan 863

The following alternatives are available to policyholders under the Dhan Rekha LIC plan:

1. Rider Benefits

The Accidental Death & Disability Benefit Rider and New Term Assurance Rider are available with the single premium payment option. These riders must be selected by policyholders only at the time of purchase. In contrast, the following riders are available under the Limited Premium Payment of LIC Dhan Rekha Plan:

  • Accidental Death & Disability Benefit Rider: If the Rider is in place at the time of the accident, an amount equal to the accident benefit sum assured is payable on the death of the policyholder as a result of the accident. In the event of an accident resulting in permanent disability, an amount equal to the accident benefit sum promised will be paid in equal monthly installments over a ten-year period of future premiums of the Dhan Rekha LIC policy. The accidental death and disability benefit rider is available until the policy anniversary on which the policyholder’s age is 70 years or until the conclusion of the policy term, whichever comes first.
  • Accident Benefit Rider: If the life assured is involved in an accident that results in death within 180 days after the accident, an amount equal to the Accident benefit sum assured is payable.
  • New Term Insurance Rider: If this benefit is selected, an amount equal to the Term Assurance Rider Sum Assured will be paid if the Life Assured dies during the Dhan Rekha LIC policy term, providing the rider cover is in existence.
  • New Critical Illness Benefit Rider: The critical illness rider sum assured is payable if any of the 15 catastrophic illnesses covered by this rider is diagnosed during the Dhan Rekha LIC policy.
  • Premium Waiver Benefit Rider: If this rider is selected on the death of the proposer of the base Dhan Rekha LIC policy during the rider term, all premiums payable on and after the date of death until the expiry of the rider term are waived.

2. Settlement Option

The settlement option in the Dhan Rekha LIC plan 863 allows one to obtain the maturity benefit in installments over 5 years rather than a single lump sum payout. This option is offered to all policyholders of the Dhan Rekha LIC policy, regardless of age.

3. Option for Death Benefits in Instalments

This option allows you to collect the death benefit in installments over 5 years rather than a lump sum amount under the paid-up Dhan Rekha LIC policy. This option is accessible to the policyholder during the minor years of the life promised or when the life assured reaches the age of 18. Depending on the choice chosen, installments will be paid in advance at yearly, half-yearly, quarterly, or monthly intervals.

Calculation of Maturity for LIC Dhan Rekha Plan No 863

Assume a 30-year-old guy is considering investing in the LIC Dhan Rekha policy with a 30-year premium term. He must pay a single premium of Rs. 670650 for an Rs. 10 lakh SA and an Rs. 12.5 lakh death SA. The maturity benefits for the surviving member at the end of the 30th policy year of the LIC Dhan Rekha policy, on the other hand, will be Rs. 23 Lakhs. The nominee will receive 25.5 lakhs if the life guaranteed dies in the 30th policy year.

Policy TermCash Flow
 OutflowInflow
1st To 15th Year-73342 
16 150000
17 0
18 0
19 0
20 0
21 150000
22 0
23 0
24 0
25 0
26 150000
27 0
28 0
29 0
30 0
312300000

However, for a person of the same age and plan duration for the Dhan Rekha Plan, the premium paying term will be 15 years, and the yearly premium amount will be Rs. 73342. At the end of the 30th year of the LIC Dhan Rekha policy, the returns will stay the same, i.e., 23 lakhs for survivors and 25.50 lakhs for nominees.

YEAR-WISE POLICY DETAILS
YearAgePaid PremiumNormal Life CoverAccidental Life CoverReturn
202128103036100000010000000
202229206072100000010000000
202330309108100000010000000
202431412144100000010000000
202532515180100000010000000
202633618216105000010500000
202734721252110000011000000
202835824288115000011500000
202936927324120000012000000
2030371030360125000012500000
20313813000001300000100000
203239135000013500000
203340140000014000000
203441145000014500000
203542150000015000000
20364315500001550000100000
203744160000016000000
203845165000016500000
203946170000017000000
204047175000017500000
204148Maturity1750000

Conclusion

Here are the key features and benefits of the LIC Dhan Rekha plan 863 details that you should examine before purchasing the Dhan Rekha LIC plan. The Dhan Rekha LIC plan is a fantastic investment strategy that provides good returns while posing little risk. However, the profits on each investment are not guaranteed and are dependent on a variety of other factors such as stock market circumstances, etc.

LIC Dhan Rekha Plan 863 – FAQs

What is the Dhan Rekha Plan No. 863 of LIC?

Ans. The LIC’s Dhan Rekha plan 863 details are an endowment plan that offers both life insurance and savings benefits. In the event of the policyholder’s untimely death during the policy term, the LIC Dhan Rekha policy pays a lump sum to the nominee as the death benefit. If the policyholder survives the policy period of the LIC Dhan Rekha policy, they will get a lump sum payment as well as any collected bonuses.

What are the Dhana Rekha plan clauses’ guaranteed additions?

Ans. Beginning in the sixth policy year, you will get guaranteed enhancements to the initial amount offered. You can customize your insurance term and premium payment period of the LIC Dhan Rekha policy. You can choose to receive the death and maturity benefits in installments rather than a lump sum.

What are the eligibility requirements for purchasing the LIC Dhan Rekha Plan No. 863?

Ans. The lowest age to join this plan is 18 years old, and the maximum age to join is 55 years old. This plan has a minimum sum assured of Rs 1 lakh and no maximum limit. The LIC Dhan Rekha policy duration can run from 10 to 25 years, with premium payments made annually, semi-annually, quarterly, or monthly.

What is the surrender value of the LIC Dhan Rekha plan number 863?

Ans. The surrender value of the LIC Dhan Rekha policy is determined by the premiums paid and the number of years the policy was active. The surrender value may also be affected by LIC’s bonus rates disclosed during the policy period. After three policy years, policyholders have the option to cancel their coverage.

FinanceGAB
FinanceGABhttps://www.financegab.com/
Ajeet Sharma, the founder of Financegab and a well-known name in the field of financial blogging. Blogging since 2017, he has the expertise and excellent knowledge about personal finance. Financegab is all about personal finance which aims to create awareness among people about personal finance and help them to make smart, well-informed financial decisions.

RECENT POSTS

Most Popular