LIC Dhan Vriddhi Yojana 2025: A Simple Guide
LIC Dhan Vriddhi Yojana is a new life insurance plan introduced by the Life Insurance Corporation (LIC) in 2024. It is a single premium, non-linked, non-participating life insurance plan made to help you save money while giving you financial security. If you’re thinking about investing in LIC Dhan Vriddhi Yojana, this guide will help you understand its features, tax benefits, and how to apply for it.
Overview of LIC Dhan Vriddhi Yojana Plan No 869
LIC introduced this plan on 23rd June 2024. It is a closed-ended, non-linked, non-participating plan where you pay a one-time premium. This plan gives you an extra guarantee on your sum assured—for example, for every 5,000 sum assured, you get up to 75 as an added guarantee. LIC made this policy to meet the growing needs of its customers by balancing savings and protection.
This plan will be available for purchase until 30th September. To buy this policy, you can visit your nearest LIC branch, contact your LIC agent, or check the official LIC website (licindia.in).
Main Features of LIC Dhan Vriddhi Yojana
| Plan Name | LIC Dhan Vriddhi Yojana 869 |
| Launched By | Life Insurance Corporation of India (LIC) |
| Who Can Apply | All Indian citizens |
| Purpose | To meet domestic insurance needs with good savings and protection |
| Application Mode | Offline |
| Official Website | https://licindia.in/ |
Other Popular LIC Plans
- LIC Kanyadan Policy
- LIC Aam Aadmi Bima Yojana
- LIC Aadhaar Shila Yojana
- LIC Jeevan Labh Plan
- LIC Jeevan Umang Yojana
Purpose of LIC Dhan Vriddhi Policy
The main aim of LIC Dhan Vriddhi Yojana is to provide financial security and savings to policyholders. It focuses on meeting the insurance needs of Indians by offering a plan that ensures safety and growth. This policy promises guaranteed maturity benefits, which helps you reach financial stability with a simple and trustworthy insurance scheme.
Tax Benefits in LIC Dhan Vriddhi Yojana
One great advantage of LIC Dhan Vriddhi Yojana is tax savings. Under Section 80C of the Income Tax Act, you can claim a deduction of up to 1.5 lakh on the premium you pay for this policy. You can surrender the policy anytime during its tenure if needed. If the insured person sadly passes away, their family will get financial support. When the policy matures, the policyholder gets a lump sum guaranteed amount.
Policy Term and Sum Assured Options
You can pick a policy term of 10, 15, or 18 years under this plan. Depending on the option you choose, the sum assured on death can be 1.25 times or 10 times the basic amount. The minimum assured amount starts from 1,25,000. The policy also offers extra guaranteed benefits 160 to 75 extra for every 1,000 under the first option, and 25 to 40 extra under the second option.
Settlement options are flexible, with payments possible monthly, quarterly, half-yearly, or yearly for 5 years after maturity or death. You can also get a loan against your policy after 3 months.
Important Terms of the LIC Dhan Vriddhi Yojana
- Premium is payable in multiples of 5,000.
- If death happens during the policy term, the nominee gets the guaranteed sum assured plus any extra guaranteed benefits.
- If the insured person lives until maturity, the maturity amount is paid with guaranteed extra benefits.
- Additional guaranteed benefits increase every year through the policy term.
Who Can Apply: Eligibility Criteria
- Any Indian citizen can invest in this plan.
- There is no fixed age limit to invest, so it is accessible to many people.
Documents Needed to Apply
- Aadhaar Card
- Identity Proof
- Address Proof
- Ration Card
- Caste Certificate (if applicable)
- Mobile Number
- Passport-Sized Photograph
- Bank Account Details
- Email ID
How to Apply for LIC Dhan Vriddhi Yojana
Applying for LIC Dhan Vriddhi Yojana is easy and offline. Just follow these steps:
- Visit your nearest LIC branch or talk to your LIC agent.
- The agent will explain the policy details and answer your questions.
- Submit all the required documents and information to the agent.
- The agent will fill in your application form and check your documents.
- Once approved, you will get your policy documents.
- You can start enjoying the benefits of LIC Dhan Vriddhi Yojana.
This plan is a well-known option if you want to grow your savings with the security of life insurance. Consider LIC Dhan Vriddhi Yojana 2025 if you want a clear and simple life insurance policy that also gives you tax benefits.
Available from 23rd June 2024 till 30th September 2024. Contact your LIC agent for more details or visit https://licindia.in/.