LIC is launching a new money-back and Guaranteed Addition plan of LIC Dhan Rekha 863. It is a Non-Linked, Non – Participating, Individual, Savings, Money Back Life Insurance Plan.
Let us look at the plan features, eligibility, and whether one should buy this product or not.
Features and eligibility of LIC Dhan Rekha 863
All modes of premium payment are available like single premium, yearly, half-yearly, quarterly or monthly. The attraction of this policy is the GUARANTEED ADDITION and the rates of the same are as below.
Term 6-20 Yrs – Rs.50 per Rs.1,000 Sum Assured
Term 21-30 Yrs – Rs.55 per Rs.1,000 Sum Assured
Term 31-40 Yrs – Rs.60 per Rs.1,000 Sum Assured.
It means suppose if you opted for 30 years policy, then there is no GA from the 1st year to 5th year. From 6th year onwards to 20 years period, the GA is added at Rs.50 and then from 21 to 30 years, the GA is considered as Rs.55. Like this, the GA will increase based on the above table…