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‘LIC Dhan Varsha’ scheme launched by Life Insurance Company

by | Oct 22, 2022 | Current Affairs | 0 comments

  • Life Insurance Company (LIC) has launched the ‘LIC Dhan Varsha’ scheme.
  • The ‘LIC Dhan Varsha scheme is a non-linked, non-participating, individual, savings life insurance plan which offers a combination of protection and savings.
  • The savings insurance plan provides financial support for the family in case of unfortunate death of the life assured during the policy terms.
  • The “Basic Sum Assured” and accrued Guaranteed Additions (as described below) will be paid if the Life Assured survives the specified Date of Maturity.
  • Throughout the policy term, the Guaranteed Additions will accrue at the conclusion of each policy year.
    The Basic Sum Assured, the Policy Term, and the Option Selected will all affect the Guaranteed Additions.
  • In the event of death, the guaranteed additions for the policy year in which the death occurred shall be payable.
  • The “Sum Assured on Death” and accrued guaranteed additions will be paid as the death benefit in the event that the Life Assured passes away within the policy term following the date on which the risk first became apparent but prior to the specified date of maturity.