Let us tell you, LIC’s Dhan Varsha policy, which gives the strongest returns, is going to close soon. Yes, you read it right, actually LIC has informed that it is discontinuing its Dhan Varsha policy. In such a situation, if you have invested in this policy, then it is very important to know that what is the last date of this scheme? So let us tell you when the LIC Dhan Varsha policy will be closed.

What is the last date of Dhan Varsha Yojana?

Let us tell you, this policy will run till this quarter i.e. March 31, 2023. After that it will end. The special thing about this policy is that it is a single premium policy. To know more about its features, read this article completely.

How LIC Dhan Varsha Plan Works

LIC Dhan Varsha Plan is a non-linked, individual, savings and single premium insurance plan that offers both savings and protection. The plan provides death benefit in case of untimely death of the policyholder. The plan also eliminates the need to pay premiums again and again. There are two investment options in this scheme.

Investment options

Under LIC Dhan Varsha plan, the investor can invest in two ways. The first option is investment can get the benefit of 1.25 times the premium amount. During this, his nominee will get Rs 10 lakh as death benefit on a single premium deposit of Rs 12.5. In the second option, investors get returns of up to ten times the premium amount. With a single premium deposit of Rs 10 lakh, the investor can get a return of Rs 1 crore on death.

Return on maturity

If the policyholder survives till the maturity of the plan, he gets the benefit of Guaranteed Additions along with the Basic Sum Assured. These guaranteed returns are credited to the policy at the end of every year and are given to the policyholder at maturity.

Policy Specification

LIC Dhan Varsha plan can be bought for ten or fifteen years. The policy can be purchased both online and offline, and the minimum age requirement to purchase the policy is three years, with a maximum age of 60 years for a term of 15 years. While the minimum age to buy a policy for ten years is eight years, the maximum age is 40 years.

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This plan offers LIC customers to choose between two policy terms. In this, you can get all the benefits like guaranteed maturity, bonus, risk cover ten times the premium. Know about this wonderful scheme.

10 times sum assured

Dhan Varsha plan is a non-participating, individual, saving, single premium life insurance policy, which offers protection as well as savings to the customers. Sum Assured can be taken up to 10 times the premium amount of this policy. That is, if you deposit 1 lakh rupees, then you can get up to 10 lakh rupees on maturity.

Risk cover up to 10 times

Under this plan, you need to pay a single premium. In this you are given two options. On opting for the first option, the death benefit will be 1.25 times the premium with guaranteed addition bonus, while on opting for the second option, the family will get 10 times the death benefit along with the guaranteed addition bonus.

If you have bought a premium of Rs 10 lakh and opted for the first option, then the family will get Rs 12.5 lakh with guaranteed bonus and if you have opted for the second option, then after death, the family will get Rs 1 crore with guaranteed bonus. The guaranteed bonus will be based on both the option and the term you choose.

Policy can be bought offline

You can buy all the policies of LIC online, but you will have to buy the Dhanvarsha scheme offline. In this, you will be offered two terms, one for 10 years and the other for 15 years. The age limit to buy it is from 3 years to 60 years. In LIC’s Dhan Varsha policy, customers also get the facility of loan and surrender.

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