Launch Date: 14 June 2022 | Withdrawn Date: 01 January 2025
• Guaranteed Income Benefit (GIB)
• Guaranteed Terminal Benefit (GTB)
• Death Benefit Protection
• Option A/B = Regular Premium
• Option C/D = Single Premium
• Income starts from maturity date
Life Insurance Corporation of India launched LIC Dhan Sanchay Plan 865 on June 14, 2022, and later withdrew the plan on January 1, 2025. It was introduced as a non-linked, non-participating individual savings life insurance policy that combined guaranteed savings benefits with life insurance protection.
What is LIC Dhan Sanchay Plan 865?
LIC Dhan Sanchay Plan 865 was designed to provide guaranteed income benefits during the payout period beginning from the maturity date. Along with savings benefits, the policy also offered life insurance protection to provide financial support to the family in case of the insured person’s unfortunate death during the policy term.
The plan functioned as a savings-oriented insurance product aimed at offering both regular income and long-term financial security for dependents.
Key Details of LIC Dhan Sanchay Plan 865
- Non-linked and non-participating life insurance plan
- Combination of savings benefits and life cover protection
- Guaranteed income stream during payout period
- Policy term available from 5 years to 15 years
- Multiple benefit options available according to financial needs
- Flexible premium payment choices including:
- Regular premium payment
- Limited premium payment
- Single premium payment option
The flexibility offered under LIC Dhan Sanchay Plan 865 made it suitable for individuals looking for guaranteed returns along with insurance security.
Key Features of LIC Dhan Sanchay Plan 865
What Are the Main Features of LIC Dhan Sanchay Plan 865?
- Non-linked and non-participating individual savings life insurance policy
- Officially launched on June 14, 2022
- Withdrawn from sale on January 1, 2025
- Policy term available from 5 years to 15 years
- Premium payment term could be equal to the policy term or shorter depending on the selected option
- Minimum death sum assured:
- ₹3,30,000 for Options A and B
- ₹2,50,000 for Option C
- ₹22,00,000 for Option D
- Minimum entry age of 3 years completed
- Maximum entry age varied according to the selected option, generally ranging from 40 years to 65 years
- Guaranteed income benefits payable during the payout period
- Guaranteed terminal benefit payable as a lump sum along with the final income installment
- Loan facility available to manage liquidity requirements
- Death benefit could be received as a lump sum or in installments over 5 years according to the policyholder’s choice
- Available for purchase both online through the official Life Insurance Corporation of India website and offline through LIC agents and intermediaries
Eligibility Criteria for LIC Dhan Sanchay Plan 865
What Are the Eligibility Conditions for LIC Dhan Sanchay Plan 865?
| Criteria | Details |
|---|---|
| Minimum Entry Age | 3 years completed |
| Maximum Entry Age | Options A & B: 50 years nearest birthday |
| Option C: 65 years | |
| Option D: 40 years | |
| Policy Term | Options A & B: 10 years or 15 years |
| Options C & D: 5 years, 10 years, or 15 years | |
| Minimum Sum Assured | Options A & B: ₹3,30,000 |
| Option C: ₹2,50,000 | |
| Option D: ₹22,00,000 |
Benefit Options Under LIC Dhan Sanchay Plan 865
What Benefit Options Are Available in LIC Dhan Sanchay Plan 865?
At the time of purchasing the policy, the policyholder was required to choose one of four available benefit options. Once selected, the option could not be changed later.
1. Option A – Level Income Benefit
Under this option, the policyholder receives a fixed guaranteed income throughout the payout period after completion of the policy or premium payment term.
- Premiums could be paid regularly or for a limited duration
- Guaranteed income amount remains constant during the payout period
2. Option B – Increasing Income Benefit
This option provides guaranteed income that increases at a fixed rate every year during the payout period.
- Premium payment could be regular or limited
- Designed to help manage inflation through gradually increasing income payouts
3. Option C – Single Premium Level Income Benefit
Under this option, the policyholder pays a one-time lump sum premium and receives fixed guaranteed income during the payout period.
- Single premium payment structure
- Suitable for individuals looking to invest a lump sum for future regular income
4. Option D – Single Premium Enhanced Cover with Level Income Benefit
This option combines single premium payment with enhanced life insurance protection.
- Fixed guaranteed income during payout period
- Higher death cover compared to other options
Benefits of LIC Dhan Sanchay Plan 865
Guaranteed Income Benefit (GIB)
Guaranteed Income Benefit starts from the maturity date according to the selected option and policy term. Depending on the chosen option, the income may remain fixed or increase annually.
Income payout frequencies available included:
- Monthly
- Quarterly
- Half-yearly
- Yearly
Guaranteed Terminal Benefit (GTB)
Guaranteed Terminal Benefit is paid as a lump sum along with the final installment of the Guaranteed Income Benefit, enhancing the overall maturity payout.
Death Benefit
In case of the insured person’s death during the policy term, the nominee receives the Sum Assured on Death either as:
- Lump sum payment, or
- Installments over a period of 5 years
This feature helps provide financial security to the insured’s family.
Loan Facility
The policyholder could avail loans against the policy according to applicable LIC terms and conditions to meet urgent financial requirements.
How to Use LIC Dhan Sanchay Plan 865 Calculator?
The LIC Dhan Sanchay Plan 865 Calculator helps individuals estimate premiums, guaranteed income payouts, maturity benefits, and death benefits based on selected policy details.
What Does LIC Dhan Sanchay Calculator Show?
The calculator provides estimates for:
- Annual premium or single premium amount
- Guaranteed income payouts during payout period
- Total maturity benefit including terminal benefit
- Death benefit payable to nominees
Steps to Use LIC Dhan Sanchay Plan 865 Calculator
- Enter the insured person’s age
- Choose the policy term according to selected option
- Enter the desired sum assured amount
- Select benefit option A, B, C, or D
- Choose premium payment mode or single premium option
- View estimated premium details and projected policy benefits
The calculator helps policyholders better understand the expected returns and insurance protection available under LIC Dhan Sanchay Plan 865.
Important Points to Remember About LIC Dhan Sanchay Plan 865
- The minimum entry age under the plan was 3 years, while the maximum entry age depended on the selected benefit option
- Risk cover started immediately for individuals above 8 years of age
- For children below 8 years, risk coverage began either after completion of 2 years from policy commencement or upon attaining 8 years of age, whichever occurred earlier
- LIC Dhan Sanchay Plan 865 was withdrawn from sale on January 1, 2025, and is no longer available for new customers
- The policy offered flexibility to nominees by allowing death benefits to be received in installments over 5 years
- The plan was suitable for individuals looking for guaranteed savings, life insurance protection, and regular income benefits after maturity
Where Could LIC Dhan Sanchay Plan 865 Be Purchased?
Before being withdrawn, the plan was available through multiple purchase channels including:
- LIC agents and authorized intermediaries
- LIC branch offices
- Official Life Insurance Corporation of India website
For similar or updated plans, individuals should refer to LIC’s official website or consult authorized LIC representatives for the latest details.
Frequently Asked Questions
What is LIC Dhan Sanchay Plan 865?
LIC Dhan Sanchay Plan 865 was a savings and life insurance plan that provided guaranteed income benefits after maturity along with life cover protection during the policy term.
When Was LIC Dhan Sanchay Plan 865 Launched and Withdrawn?
The policy was launched on June 14, 2022, and later withdrawn from sale on January 1, 2025.
What Benefit Options Were Available Under LIC Dhan Sanchay Plan 865?
The plan offered four benefit choices:
- Option A – Level Income Benefit
- Option B – Increasing Income Benefit
- Option C – Single Premium Level Income Benefit
- Option D – Single Premium Enhanced Cover with Level Income Benefit
Who Was Eligible to Purchase LIC Dhan Sanchay Plan 865?
Individuals aged from 3 years up to 65 years, depending on the selected option, were eligible to purchase the policy.
Was Loan Facility Available Under LIC Dhan Sanchay Plan 865?
Yes, the policy allowed policyholders to avail loans against the policy according to LIC terms and conditions.
What Happens if the Policyholder Dies Before Maturity?
In case of the insured person’s death during the policy term, the nominee received the Sum Assured on Death either as a lump sum payment or in installments spread over 5 years depending on the selected option.
Conclusion
LIC Dhan Sanchay Plan 865 was introduced as a unique combination of guaranteed savings and life insurance protection by LIC on June 14, 2022. The policy offered multiple benefit options designed to suit different financial goals and income requirements.
Although the plan was withdrawn on January 1, 2025, it remained a useful option for individuals seeking guaranteed income after maturity along with dependable life insurance security.
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