LIC of India
LIC's Dhan Sanchay Policy

LIC's Dhan Sanchay

LIC’s Dhan Sanchay (Plan No. 865, UIN No. 512N346V01) is a non-linked, non-participating, individual savings life insurance plan from LIC that combines savings with protection. In the terrible event that life assured passes away during the period of the policy, this plan offers monetary help to the family. Additionally, it offers a guaranteed income stream starting on the maturity date throughout the payout period. Read more to know about the policy in detail!

Eligibility Criteria Of LIC's Dhan Sanchay

Minimum Entry Age3 Years (Completed)
Maximum Entry Age

Options A & B: 50 Years (Nearest Birthday)

Option C: 65 Years (Nearest Birthday)

Option D: 40 Years (Nearest Birthday)

Policy Term

Options A & B: 10 & 15 Years

Option C & D: 5, 10, & 15 Years

Minimum Sum Assured On Death

Options A & B: Rs. 3,30,000

Option C: Rs. 2,50,000

Option D: Rs. 22,00,000

Plan No.865

Key Features & Benefits Of LIC's Dhan Sanchay Plan

There are a plethora of features and benefits provided by LIC’s Dhan Sanchay Plan. Some of them are as discussed below:

  • Benefit Options At Inception: The plan provides four benefit options at the time of inception. In the case of regular or limited premium payment, Option A (Level Income Benefit) and Option B (Increasing Income Benefit) are available to the policyholder. Whereas, in the case of single premium payment, the choice is given between Option C (Single Premium Level Income Benefit) and Option D (Single Premium Enhanced Cover with Level Income Benefit).
  • Death Benefit: A lump-sum death benefit will be paid by the insurer. Alternatively, the policyholder may choose to collect the death benefit in equal payments over a maximum of five years. The “Sum Assured on Death”—which can differ for different options—will be the death benefit under the plan. The “Sum Assured on Death” for Options A and B will be higher of 11 times the “Annualized Premium,” or “Sum Assured on Maturity,” or 105% of all premiums paid up until the date of death.

The “Sum Assured on Death” for option C will be 1.25 times greater than the “Single Premium” or the “Sum Assured on Maturity.” The “Sum Assured on Death” for choice D will be 11 times the “Single Premium.”

  • Maturity Benefit: The “Annualized Premium” or “Single-Premium” multiplied by the “Maturity Benefit Multiplier” will determine the “Sum Assured at Maturity”. “Guaranteed Income Benefit” and “Guaranteed Terminal Benefit” will be paid as maturity benefits following the policy’s maturity. According to LIC, there will be an option to get the maturity benefits in a lump amount while the life assured is still a minor or by the life assured who is at least 18 years old at least three months prior to the maturity date for a paid-up policy.
  • Rider Benefits: The plan also offers various rider options to the policyholder. “Accidental Death and Disability Benefit Rider” and “New Term Assurance Rider” from LIC are both available under “Single Premium Payment” (Option C & Option D), and the policyholder may only choose to add them at the time of purchase.

In addition, the following five optional riders are available for “Regular/Limited Premium Payment” (Option A & Option B). However, according to the eligibility requirements, the policyholder may select either the “Accidental Death and Disability Benefit Rider” or the “Accident Benefit Rider” of the LIC, or any one of the remaining three riders.

    • LIC’s Accidental Death and Disability Benefit Rider
    • LIC’s Accident Benefit Rider
    • LIC’s New Term Assurance Rider
    • LIC’s New Critical Illness Benefit Rider
    • LIC’s Premium Waiver Benefit Rider
  • Payment Of Premiums: Regular premium payments can be made through salary deductions or on a yearly, half-yearly, quarterly, or monthly basis. The monthly premiums can only be paid through NACH.
  • Grace Period: For the payment of yearly, half-yearly, or quarterly premiums, a grace period of 30 days is given, and for monthly payments, a grace period of 15 days is provided to the policyholder. The policy will be regarded as continuing to provide risk coverage throughout this period, in accordance with the provisions of the policy, without interruption. The policy expires if the premium is not paid before the grace period has passed.
  • Policy Surrender: The policyholder may surrender the regular or limited premium payment (i.e., Options A & B) at any time throughout the insurance term as long as at least two full years’ premiums have been paid. Moreover, the policyholder may surrender a single-premium payment (i.e., Options C & D) at any time throughout the policy term.

Premium Calculation Of LIC's Dhan Sanchay Plan

You might be wondering about how much LIC’s Dhan Sanchay Plan will cost you. Therefore, we have calculated the premium amount with respect to various criteria, such as gender, age, sum assured, etc.

NameAge (In Years)GenderSum Assured On MaturitySum Assured On DeathPolicy Term (In Years)Annualized Premium Amount
Avantika Kumari29FemaleRs. 2,49,020Rs. 2,50,0005Rs. 2,09,000
Shanky Deswal44MaleRs. 6,48,000Rs. 6,48,00010Rs. 4,18,000
Pooja Aggarwal62FemaleRs. 9,22,050Rs. 9,22,05015Rs. 5,22,500
Mithun Chopra51MaleRs. 11,28,540Rs. 11,28,54010Rs. 7,31,500

Exclusions Under LIC's Dhan Sanchay Plan

The plan has the following exclusions:


  • The nominee or beneficiary of the life assured will hold the right to 80% of the single premium paid, excluding any taxes, extra premiums, and rider premiums other than “Term Assurance Rider”, if any, if the life assured commits suicide at any time within 12 months of the date of commencement of the risk. If the Life Assured’s age at admission is less than eight years old, this clause won’t apply.


  • The nominee or beneficiary of the life assured will hold the right to 80% of the total premiums paid, excluding any extra premiums, taxes, and rider premiums other than “Term Assurance Rider”, if any, if the life assured commits suicide at any time within 12 months of the date of commencement of the risk, provided the policy is in effect. If the life assured’s age at admission is less than eight years old, this clause won’t apply.
  • The higher of 80 percent of the total premiums paid up to the date of death (excluding any taxes, extra premiums, and rider premiums other than term assurance rider, if any), or the surrender value available as of the date of death, shall be payable in the event that the life assured—whether sane or insane—commits suicide within 12 months of the date of revival. The life assured’s nominee or beneficiary is not eligible to make any additional claims under this policy.

Buying Process Of LIC's Dhan Sanchay Plan

If you wish to purchase LIC’s Dhan Sanchay Plan, you need to adhere to the below-mentioned steps:


  1. Go to the official website of LIC.
  1. Click on the “Buy A New Policy” tab and it will direct you to the online sales page of LIC.
  1. Under the “Endowment” section, you will see the LIC’s Dhan Sanchay Plan.
  1. Click on “Buy Online” and then press “Click To Buy Online” on the next page.
  1. After entering the COVID information, select “Proceed.”
  1. Your name, age, mobile number, email address, and other contact information will be requested on the subsequent page. Click “Proceed” after entering all the required information, the captcha code, and ticking the box.
  1. Your “Access ID” will now be visible on the screen. Click “Proceed” after entering the OTP that was issued to your registered mobile number.
  1. Upload all of your scanned documents, then select the budgetary parameters.
  1. The process will be finished once you make the online plan payment.


If you wish to purchase the plan in person, you can pay a visit to any nearby branch office. The company’s agent present in the branch office will help you throughout the purchasing process. Moreover, you can also call the company’s customer care number and the customer care executive will share all important information with you to buy the plan.

Frequently Asked Questions

Yes. The plan offers liquidity needs through a loan facility. Subject to certain terms and conditions, loans shall be available during the policy term (i.e., before the beginning of the payout period under the policy), within the policy’s surrender value for the amounts, and under the additional terms and conditions that the corporation may from time to time fix.

Yes. The plan comes with a 90-day waiting period. If the plan is purchased through Point of Sales Persons-Life Insurance or CPSC-SPV, the corporation shall refund the total premiums paid upon the death of the life assured within the first 90 days following the date of commencement of risk, provided the policy is in force and the death is not the result of an accident. However, “Sum Assured on Death” will be paid out in the event of a fatal accident occurring within the waiting period.

You will have several payout periods. Option A and Option B’s payment periods will be equal to the premium-paying term, while Option C and Option D’s payout periods will be equal to the duration of the insurance policy.

The LIC’s New Critical Illness Benefit Rider covers 15 critical illnesses.

Yes. The plan provides the policyholder with the option to receive death benefits in installments over a period of 5 years. For more information, you can refer to the policy brochure available on the company’s website.

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