LIC of India launched a unique savings and protection plan named LIC’s Dhan Vriddhi Plan 869 (Table No. 869) on 23rd June 2023. This is a Non-Linked, Non-Participating, Individual, Savings, Single Premium Life Insurance Plan, offering both guaranteed returns and life insurance coverage in one.
With just a one-time premium payment, this plan ensures peace of mind through guaranteed maturity benefits and life cover, making it an excellent choice for those who prefer a one-time investment with secured returns. It is available online via licindia.in and offline through LIC agents and POSP-LI.
Important Note: This plan was available for a limited time and closed on 30th September 2023.
🎯 Key Highlights of LIC Dhan Vriddhi Plan 869
| Feature | Description |
|---|---|
| Plan Type | Single Premium, Non-Linked, Non-Participating |
| Premium Payment | One-time payment only |
| Maturity Benefit | Basic Sum Assured + Guaranteed Additions |
| Death Benefit Options | 1.25x or 10x of Tabular Premium + Guaranteed Additions |
| Bonus Type | Guaranteed Additions only |
| Loan Facility | Available after 3 months |
| Surrender Option | Allowed anytime during the policy term |
| Tax Benefits | Under Sections 80C (Premiums) |
🔍 Death Benefit Options – Flexible Protection Choices
This plan offers two options for death benefits, allowing you to choose the level of protection based on your financial goals.
🔸 Option 1
- Death Benefit = 1.25 times of Tabular Premium + Accrued Guaranteed Additions
🔸 Option 2
- Death Benefit = 10 times of Tabular Premium + Accrued Guaranteed Additions
The Tabular Premium is determined based on:
- Age at entry
- Policy term
- Chosen option (1 or 2)
Note: Premium excludes taxes, rider premiums, and other additional charges.
🎁 Maturity Benefit – Guaranteed Payout
On survival till the end of the policy term, the Maturity Benefit payable is:
👉 Basic Sum Assured + Accrued Guaranteed Additions
This makes the plan ideal for those seeking secured, risk-free returns at the end of the term.
⚰️ Death Benefit – Family Security
If the life assured dies during the policy term (after risk commencement), the nominee will receive:
👉 Sum Assured on Death + Accrued Guaranteed Additions
In case the life assured is a minor (under 8 years of age) and dies before commencement of risk, then:
👉 Death Benefit = Return of Premiums Paid (excluding taxes and rider premiums)
📅 Policy Term & Age Eligibility
| Policy Term | Minimum Entry Age | Maximum Entry Age |
|---|---|---|
| 10 Years | 8 years | 60 years (Option 1), 40 years (Option 2) |
| 15 Years | 3 years | 60 years (Option 1), 35 years (Option 2) |
| 18 Years | 90 days | 60 years (Option 1), 32 years (Option 2) |
Maximum Maturity Age:
- Option 1: 78 years
- Option 2: 50 years (both based on nearer birthday)
📌 Sum Assured & Investment Limits
| Parameter | Details |
|---|---|
| Minimum Sum Assured | ₹1,25,000 (in multiples of ₹5,000) |
| Maximum Sum Assured | No upper limit |
| Premium Type | Single Premium Only |
📊 Guaranteed Additions
Guaranteed Additions are accrued every year during the policy term and are payable on maturity or death. The rates are fixed at the time of policy purchase and ensure stable, assured growth.
💡 Additional Benefits and Features
| Feature | Description |
|---|---|
| Loan Facility | Available after 3 months from policy commencement |
| Surrender | Can be surrendered anytime during the policy term |
| Rider Options | 1. LIC’s Accidental Death & Disability Benefit Rider 2. LIC’s New Term Assurance Rider |
| Tax Benefits | Premiums under Section 80C; maturity under Section 10(10D) |
| Risk Cover Start Date | For children under 8: Risk starts after 2 years or at age 8, whichever is earlier |
| Cooling-Off Period | 15 days from receipt of the policy, in case not satisfied |
| Proposal Forms | Form No. 300 and 360 to be used |
| Policy Revival | Not applicable (single premium plan) |
📘 Summary Table
| Particulars | Details |
|---|---|
| Plan Type | Savings + Protection (Single Premium) |
| Available Through | Online and Offline |
| Premium Type | Single |
| Policy Terms Available | 10, 15, and 18 years |
| Entry Age | 90 days to 60 years (based on term and option) |
| Maturity Benefit | Basic Sum Assured + Guaranteed Additions |
| Death Benefit | Option 1: 1.25x Premium + Bonus Option 2: 10x Premium + Bonus |
| Loan Facility | After 3 months |
| Surrender | Any time during policy term |
| Riders | Accidental & Term Rider (Optional) |
🎯 Who Should Buy LIC Dhan Vriddhi Plan?
This plan is ideal for:
- Individuals looking for safe, one-time investment options
- Parents planning to secure future education or marriage corpus for children
- Senior citizens looking for guaranteed maturity benefits
- People seeking tax-saving instruments with insurance cover
📝 Conclusion
LIC’s Dhan Vriddhi Plan 869 is a perfect blend of guaranteed savings and life protection. With a single premium payment, you can secure your family’s future while also earning attractive guaranteed returns. Its flexibility, tax benefits, loan availability, and rider options make it a smart and stable financial decision.
If you’re someone who prefers risk-free growth with a one-time investment, this plan deserves your attention!
