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Lic E Term Policy Premium Calculator – LIC Dhan Rekha Plan 863 project: invested 6.7 million kip and earned 23 million rupees; Check complete calculation, policy benefits, other details

LIC Dhan Reha: In relation to the life assurance, at each specified period during the period of the policy, provided the policy is in effect, a fixed percentage of the basic sum shall be paid.

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LIC Dhan Rekha: Life Insurance Company of India (LIC) has many plans in its kitty and one of them is LIC Dhan Rekha Plan 863. It is a non-linked, non-participating, individual, savings and life insurance plan that comes with both. One-time investment option or annual premium payment option. LIC says that the Dhan Rekha plan offers a maximum guarantee of Rs 60 per thousand base. This plan provides financial assistance for the family in case of unfortunate death of the policy holder during the policy period. “Periodic payments will also be made on the survival of the policyholder for a specified period during the policy period and guaranteeing lump sum payments to the surviving policyholder at maturity,” read the policy brochure.

Key Factors Nris Should Consider Before Buying A Life Insurance Policy

In respect of the life assurance for each specified period during the term of the policy, the policy provided in force, a fixed percentage of the basic profit shall be paid. If the policy term is 20 years, the investor will receive 10% of the basic sum assured at the end of each policy year 10 and 15. If the policy term is 30 years, the investor will receive 15% of the basic sum assured at the end of each policy year 15, 20 and 25. In case of a 40 year policy, 20% of the result The basic sum is guaranteed at the end of each policy year 20, 25, 30 and 35.

Other rider benefits like LIC’s Accidental Death and Disability Benefit Rider and LIC’s New Term Assurance Rider will be available under this plan and the policyholder can opt for these riders initially only if the mode of application is single premium payment.

Assuming you are investing in this plan at the age of 30 and the policy term is still 30 years, you will have to pay a single premium of Rs 6, 70, 650 for a basic sum assured of Rs 10, 00, 000. and a death sum assured of Rs 12, 50, 000. However, the full benefit for the survivor at the end of the 30th year will be Rs 23 lakhs. If the policy holder dies in 30 years, the nominee will get Rs 25, 50,000.

However, in the case of the annual premium for the same age person and the same policy period, the insurance payment period is for 15 years and the annual premium is Rs 73, 342. The return remains the same – Rs 23 lakh. for the survivor and Rs 25, 50,000 for the nominee at the end of the 30th year.

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These cookies may be set through our website by our advertising partners. They may be used by those companies to create a profile of your interests and show you relevant ads on other websites. They are also used to limit the amount of time you see ads as well as help measure the effectiveness of advertising campaigns. They do not store personal data directly, but rely on the identification of your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.

These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our website. They help us know which pages are the most and least popular and see how visitors move around the site. All information that these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies, we may not know when you have visited us, and may not be able to track its performance. LIC of India has decided to introduce a new limited payment plan, Bima Jyoti – Plan number 860- with effect from February 22, 2021. Bima Jyoti can be defined as non-linked, non-participating, individual, limited premium payment. In other words, Bima Jothi is a guaranteed fixed benefit scheme where the premium payment period is less than five years as compared to the plan tenure.

The most important feature of Jeevan Jyoti (Plan 860) is the guarantee which will be added to the policy account at the rate of 50 per 1000 sum assured per year for the entire period of the plan. In an era of rapidly falling interest rates, a plan with guaranteed benefits is a no-brainer. Apparently LIC of India is taking a bold step here to provide a plan with benefits that can be calculated while joining the scheme itself.

For all in force policies, an additional sum assured at the rate of 50 per 1000 sum assured will be credited to the policy account every year till the expiry of the term. For example, for a 10 million insurance policy with a term of 20 years, the additional guarantee that occurs in the policy account must be as shown below.

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In respect of life assurance that survives the term of the plan, the basic sum + sum assured increased in the policy account becomes payable. So the benefit of the maturity of the plan is easy to calculate and can be known in advance.

If the death occurs after the commencement of the risk, the death sum assured + additional sum assured becomes payable.

Sum Assured = Higher of (125% of Sum Assured) and (7 times the annual premium)

But if the death occurs before the commencement date of the risk, all premiums except the driver’s premium will be refunded.

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2 years from the date of commencement or from the date of expiry of the policy corresponding to / immediately after 8 years of age, whatever is before that. For all others, risk management will begin immediately.

Jeevan Jyoti – Online calculator is intended to provide all the benefits of the plan at a glance. Easy to understand.

An amount equal to the accident insurance is paid for accidental death, as the driver was in effect at the time of the accident. In case of accidental permanent disability (within 180 days from the date of the accident), the amount is equal to the accident benefit. Sum Assured shall be paid in equal monthly installments spread over 10 years and future premiums, if any, shall also be waived in respect of this Rider and the premiums for the Basic Policy shall correspond to the Basic Profit equal to the Accident Benefit.

If this benefit is chosen and if the life assured is involved in an accident that results in death within 180 days from the date of the accident, an amount equal to the accident sum assured is payable. However, the policy must be in effect at the time of the accident regardless of whether it is in effect at the time of death.

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An amount equal to the Term Assurance Rider Sum Assured will be payable on the death of the life assured during the policy term, as the Rider cover is mandatory.

If this rider is selected, on the first diagnosis of one of the 15 critical illnesses covered under this rider, the critical illness insurance will be payable under the specified conditions.

If this Rider is selected, on the death of the basic policy holder (on the life this Rider was selected for) during the Rider Term, the premium payable in terms of the basic policy, reduced on and after the date of death to date. Expiration of Rider

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