LIC Dhan Vriddhi (869): Features & Benefits Of LIC Dhan Vriddhi Plan

LIC Dhan Vriddhi: The Life Insurance Corporation of India (LIC) is a leading company in India that has launched insurance policies for every section of society. Whether it’s children or the elderly, LIC has insurance plans for everyone. Recently, LIC introduced a new closed-ended plan on Friday named LIC Dhan Vriddhi Yojana. It is a non-linked, non-participating, individual, savings, single premium life insurance plan. This plan aims to provide investors with the benefits of security and savings.

LIC hopes that the LIC Dhan Vriddhi Policy can bring significant changes. If you’re interested in investing in LIC Dhan Vriddhi Yojana, it’s essential to gather more information about it to make an informed decision. Today, we will provide you with comprehensive information about LIC Dhan Vriddhi Yojana through this article. So, it’s crucial to read this article thoroughly till the end.

LIC Dhan Vriddhi Plan

LIC Dhan Vriddhi Plan (Plan No. 869, UIN No. 512N349V01) is a type of insurance plan designed for individuals. It offers both protection and savings benefits. The plan became available on June 23, 2023, and will be sold until September 30, 2023.

This plan aims to provide financial assistance to the family if the insured person passes away during the policy term. It also guarantees a lump sum payment to the surviving insured person at the end of the policy term. Since it’s a single-premium plan, there’s no need for future premium payments. The plan offers two options: Option 1 and Option 2.

LIC Dhan Vriddhi Plan Details

Scheme Name	LIC Dhan Vriddhi Yojana 869
Initiated By	Life Insurance Corporation of India (LIC)
Beneficiaries	All citizens of the country
Objective	Fulfilling insurance needs of the domestic market
Year	2023
Application Process	Offline
Official Website	https://licindia.in/

Features & Benefits Of LIC Dhan Vriddhi Plan

• Two Options for Flexibility: The LIC Dhan Vriddhi Plan offers two choices for coverage, depending on your needs. Option one provides a death benefit up to 1.25 times the premium, while option two offers a death benefit of 10 times the premium for the selected sum insured.
• Online Sale Rebates: If you buy the policy online without involving an agent, you get a 2% discount on the premium amount for the main plan and any additional riders you choose.
• Surrender Benefit: You can surrender the policy at any time during its term. The surrender value will be the higher of the guaranteed surrender value or the special surrender value.
• Loan Facility: After three months from the policy issuance date, you can avail a loan under this plan.
• Death Benefits: If the life assured passes away during the policy term but before maturity, the sum assured on death along with accrued guaranteed additions will be paid out. This applies to both options mentioned earlier.
• Maturity Benefit: If the life assured survives until the maturity date, they will receive the basic sum assured and accrued guaranteed additions.
• Guaranteed Additions: Every policy year, guaranteed additions accumulate based on factors like basic sum assured, policy term, and selected option. These additions are guaranteed throughout the policy term.

Guaranteed Additions (Per Rs. 1000 Basic Sum Assured)

Basic Sum Assured Range	Policy Term	Option 1	Option 2
Rs. 1,25,000 – Rs. 2,45,000	10 Years	60	65
	15 Years	65	70
	18 Years	65	70
Rs. 2,50,000 – Rs. 6,95,000	10 Years	25	30
	15 Years	30	35
	18 Years	30	35
Rs. 7,00,000 & Above	10 Years	35	40
	15 Years	40	45
	18 Years	40	45

How To Purchase LIC Dhan Vriddhi Plan?

• Visit LIC’s official website homepage.
• Look for the “Buy Online” section, usually on the left side, and click on it.
• You’ll see a list of policies available for online purchase. Find and click on “LIC Dhan Vriddhi” and then click “Ok” to proceed.
• A brief overview of the plan will appear. Click on “CLICK TO BUY ONLINE.”
• Prepare the necessary documents for uploading as prompted on the next page, then click “Proceed.”
• Provide COVID-19 related information and click “Proceed.”
• Enter your contact details like name, date of birth, mobile number, etc. Tick the required boxes and click “Proceed.”
• An access ID will be generated. Enter the OTP sent to your mobile number and click “Proceed.”
• Now, fill in your personal and product information. Click “Calculate Premium.”
• Review the premium details shown on the screen and click “Confirm & Proceed.”
• You’ll be asked for more details like permanent address, father’s name, mother’s name, etc. Fill them out and proceed to the payment page.
• Once the payment is completed, your policy details will be sent to the registered contact details.