LIC Dhan Varsha 866 Plan offers life insurance

LIC Dhan Varsha Plan: The Dhan Varsha Plan is a non-linked, non-participating individual, savings, life insurance plan that provides both protection and savings, according to India's Insurance behemoth Life Insurance Corporation LIC. The plan provides financial assistance to the family in the event of the untimely death of the life assured during the policy term. A guaranteed lump sum amount is also offered for the surviving ones on the maturity date.

It can provide up to 10 times the amount of premiums paid. If you select one of the two options offered by the LIC and start at a younger age, you can pay a single premium of Rs 10 lakh and get millions of rupees with the LIC Dhan Varsha 866 Plan. In the unfortunate event of your death, you'll be able to keep a cushion for your nominee's finances.

Option 1: 1.25 times Tabular Premium for the chosen Basic Sum Assured - If someone chooses the first option, the Sum Assured will be 1.25 times the premium deposited. If someone pays a single premium of Rs 10 lakh and dies, he will get Rs 12.5 lakh in addition to the guaranteed addition bonus.

If you choose to choose the second option, the customer will get 10 times the risk cover of the premium deposited. If a customer had paid a single premium of Rs 10 lakh, his nominee would get a guaranteed bonus of Rs 1 crore in the event of an untimely death.

The maximum age for purchasing insurance under the first option is 60 years old, while the maximum age for a policy with ten times the risk is 40 years.

The nominee has the option of receiving the funds in installments.