LIC Dhan Rekha (Plan 863) — Estimate Calculator
LIC Dhan Rekha Plan (863)
LIC Dhan Rekha Plan (863) is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan, which are provided or offer the life protection and saving both facility at one place. the main benefits of this plan is that he is provided the financial support to the family of policyholder on after the unfraternally death on during the policy term . Where as it facilitate by providing periodic payment on survival of policy holder on during the policy term.
This plan can be purchased Offline through agent /other intermediaries as well as Online directly through website www.licindia.in.
This plan having the benefits of 3 type
1. Guaranteed Addition
2. Money Back
3. Full Payout on Maturity
LIC Dhan Rekha Plan – Eligibility Conditions
| Condition | Details |
|---|---|
| Minimum Basic Sum Assured | ₹ 2,00,000 |
| Maximum Basic Sum Assured | No limit (in multiples of ₹ 25,000) |
| Policy Term | 20 years, 30 years, 40 years (20 years only for POSP-LI/CPSC-SPV) |
| Premium Paying Term | Single Premium: Not Applicable Limited Premium: • 10 years (Policy Term 20 years) • 15 years (Policy Term 30 years) • 20 years (Policy Term 40 years) |
| Minimum Age at Entry | • 8 years (Policy Term 20 years) • 3 years (Policy Term 30 years) • 90 days (Policy Term 40 years) |
| Maximum Age at Entry (Single Premium) | • 60 years (Policy Term 20 years) • 50 years (Policy Term 30 years) • 40 years (Policy Term 40 years) |
| Maximum Age at Entry (Limited Premium) | • 55 years (Policy Term 20 years) • 45 years (Policy Term 30 years) • 35 years (Policy Term 40 years) • 65 years – Policy Term (POSP-LI/CPSC-SPV) |
| Minimum Age at Maturity | • 28 years (Policy Term 20 years) • 33 years (Policy Term 30 years) • 40 years (Policy Term 40 years) |
| Maximum Age at Maturity | • 80 years (Single Premium) • 75 years (Limited Premium) • 65 years (POSP-LI/CPSC-SPV) |
What is Benefits payable under this policy
There are many benefits found under this LIC Dhan Rekha Plan .
Death Benefit
If the policyholder get die unfortunately during the policy term, the nominee of policy holder will receive the Death Benefit.
- Here we see under the limited Premium policies, the amount payable to nominee is “Sum Assured on Death” along with Accrued Guaranteed. where Sum Assured on Death defined as 125% of Basic Sum Assured or seven times the annualized premium, or 105% of the total premiums paid, along with the Guaranteed Additions accrued.
- Now here In Single Premium policies, the Death Benefit will be the higher of 125% of the Basic Sum Assured or the Basic Sum Assured, plus the Guaranteed Additions accrued.
Survival Benefit
Initially we seen that the LIC Dhan Rekha Plan have facility to work for both life protection and periodic payouts during the policy term if the life assured survives certain durations:
- For a 30-year term, 15% of the Basic Sum Assured is paid at the end of the 15th, 20th, and 25th year.
- For a 20-year term, 10% of the Basic Sum Assured is paid at the end of the 10th and 15th year.
- For a 40-year term, 20% of the Basic Sum Assured is paid at the end of the 20th, 25th, 30th, and 35th year.
Maturity Benefit
Maturity benefits are paid, where If the policy holder Assured survives the entire policy term. This paid amount includes the balance Basic Sum Assured (after deducting survival benefits already paid) plus all the Guaranteed Additions accumulated over the years.
Guaranteed Additions
Guaranteed Additions are that which are provided the additional benefits to the policy from the 6th policy year till the end of the term. The rate of addition benefits are depends on the policy term:
- ₹50 per ₹1000 Basic Sum Assured for 20-year policies.
- ₹55 per ₹1000 Basic Sum Assured for 30-year policies.
- ₹60 per ₹1000 Basic Sum Assured for 40-year policies.
Loan Facility
LIC Dhan Rekha Plan offers a loan facilities to the policyholder .but they having different condition for according to premium payment .A loan can be approved only after completion of 1 year for single premium policies and after 2 years for limited premium policies.
Surrender Value
Similar to Loan Facility LIC Dhan Rekha Plan having a surrender value benefits, but they are depend on according to premium payment where surrendered can operated after 1 year in case of single premium or 2 years in case of limited premium.
Optional Rider Benefits
Policyholders can enhance their protection by opting for riders such as Accidental Death Benefit Rider, Accidental Disability Benefit Rider, Critical Illness Benefit Rider, etc.
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Formulas & Real-Life Scenarios for LIC Dhan Rekha Plan (863) – Maturity Calculator
To under stand the better way, we are describe the formula how the LIC Dhan Rekha Plan Maturity Calculator are work and calculate the result.
Death Benefit Formula
- Limited Premium Policy Death Benefit=Max(125%×BSA, 7×Annualized Premium, 105%×Premiums Paid)+Guaranteed Addition
2. Single Premium Policy
Death Benefit=Max(125%×BSA, BSA)+Guaranteed Additions
Real-Life Scenarios for LIC Dhan Rekha (Plan 863)
Suppose Rakesh buys a 30-year Limited Premium policy with a Basic Sum Assured (BSA) of ₹10,00,000 and pays an annual premium of ₹72,000. If he passes away in the 12th policy year, the death benefit payable will be the higher of:
Where that applied the
1. 125% of BSA = ₹12,50,000
2. 7 × Annualized Premium = ₹5,04,000
3. 105% of Premiums Paid (₹72,000 × 12 × 105%) = ₹9,07,200
👉 In this case, ₹12,50,000 + Guaranteed Additions will be paid to the nominee.
Survival Benefit Formula
the formula use for calculation of Survival Benefit of LIC Dhan Rekha . condition are listed below .
- 20-Year Policy Term → 10% of BSA paid at 10th & 15th year
- 30-Year Policy Term → 15% of BSA paid at 15th, 20th & 25th year
- 40-Year Policy Term → 20% of BSA paid at 20th, 25th, 30th & 35th year
👉 Real-Life Scenario:
Here Seema has takes a 30-year policy with a BSA of ₹10,00,000.
She will receive the amount of :
- ₹1,50,000 (15% of 10,00,000) at the end of 15th year
- ₹1,50,000 at the end of 20th year
- ₹1,50,000 at the end of 25th year
So, Seema receives ₹4,50,000 as Survival Benefits during the policy.
Maturity Benefit Formula
Maturity Benefit=(BSA−Survival Benefits Paid)+Guaranteed Additions
👉 Real-Life Scenario:
we seen here that Rohit buys a 30-year term policy with BSA ₹10,00,000.
He already received ₹4,50,000 as survival benefits (explained above).
At maturity, he will get:
Remaining BSA = ₹10,00,000 – ₹4,50,000 = ₹5,50,000
Plus Guaranteed Additions = Suppose ₹12,00,000
👉 Total Maturity Value = ₹17,50,000
What is LIC Dhan Rekha (Plan 863)?
LIC Dhan Rekha Plan (863) is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan, which are provided or offer the life protection and saving both facility at one place. the main benefits of this plan is that he is provided the financial support to the family of policyholder on after the unfraternally death on during the policy term .
Who can buy this LIC Dhan Rekha (Plan 863) ?
e) Minimum Age at Entry :
1. 8 years (Completed) for Policy Term
2. 20 years
3. 3 years (Completed) for Policy Term 30 years
4. 90 days (Completed) for Policy Term 40 years
f) Maximum Age at Entry
1.60 years (Age Nearer Birthday) for
2. Policy Term 20 years
3. 50 years (Age Nearer Birthday) for
4. Policy Term 30 years
5. 40 years (Age Nearer Birthday) for
6. Policy Term 40 years
What is the minimum and maximum Sum Assured of LIC Dhan Rekha (Plan 863)?
Minimum Basic Sum Assured: ₹2,00,000
Maximum: No limit (in multiples of ₹25,000).
What premium payment options are available?
There are two options:
Single Premium (one-time payment at policy start)
Limited Premium (10, 15, or 20 years premium paying term).
LIC Dhan Rekha Plan Maturity Calculator are an online tool that are help the to calculate the LIC Dhan Rekha Plan Maturity and LIC Dhan Rekha Plan premium mush more like First Year Premium, Second Year Onwards Premium, Maturity Benefit Illustration and Survival Benefits.
