The Life Insurance Corporation of India has introduced the 'Dhan Rekha' plan, which offers unique rates and benefits to women. A recurring return of the basic sum covered, as well as the total sum assured at maturity are among the benefits. This policy, according to the organisation, is also permissible for third-gender people.
The policy is a non-participating, non-linked individual savings plan that allows the company to provide guaranteed rewards to its employees. From the sixth policy year to the conclusion of the term, guaranteed additions are accumulated at the end of each policy year. For single premium policies, the life cover is 125 % of the basic sum insured, whereas for limited period premium payment policies, The coverage is equal to 125% assured or seven times the annualised premium, whichever is greater.
The death sum assured for a single premium is 125 % of the base sum assured plus guaranteed extras. For restricted payment premiums, the death sum assured is 125% of the basic sum assured or seven times the annualised premium, whichever is greater.
Instead of receiving a lump sum, the maturity and death benefits can be received in installments over a 5-year period. This plan has a minimum sum assured of INR 2 lakh and no maximum sum assured restriction. The minimum age to enter varies from 90 days to 8 years, depending on the policy period. The maximum age for admission is 35 to 55 years old.
