Life Insurance Corporation of India (LIC) on Monday launched a new plan called Dhan Rekha, a non -linked, non-participating, individual savings life insurance plan. “There are special premium rates for female lives. The plan is allowed to third gender and all benefits under the plan are fully guaranteed,” LIC said.
It said the plan provides a percentage of the basic sum assured as survival benefit at regular intervals starting from end of premium paying term provided policy is in force. “Guaranteed additions will accrue at the end of each policy year starting from the 6th policy year to the end of the policy term provided the policy is in force.”
The minimum sum assured under this plan is Rs 2 lakh, with no limit for maximum sum assured. The minimum age at entry ranges from 90 days to 8 years as per chosen policy term. The maximum age at entry ranges from 35 years to 55 years depending upon the chosen policy term, LIC said.