LIC Dhan Vriddhi Plan 869 Calculator
Plan Type: Non-Linked, Non-Participating, Individual Savings Life Insurance Plan
UIN: 512N362V02
Launch Date: June 2023
Plan Status: Feb 2024
Premium Mode: Single Premium
Policy Term: 10, 15 & 18 years
Calculation Results
Single Premium (Excluding GST)
GST Amount @ 4.5%
₹ 0
Total Single Premium (Including GST)
Sum Assured on Death
₹ 0
Guaranteed Additions Per Year
₹ 0
Total Maturity Benefit (After Years)
₹ 0
| Year | Accrued GA | Death Benefit | Surrender Value |
|---|
- Minimum Basic Sum Assured: ₹1,25,000
- Sum Assured should be in multiples of ₹5,000
- Rebate of 1.5%, 2.5% and 3.5% for BSA ≥ ₹25 Lakhs for 10, 15, 18 year terms respectively
- Additional 2% rebate for online purchase without agent assistance
- Guaranteed Additions accrue at end of each policy year
- Policy can be surrendered anytime during policy term
LIC Dhan Vriddhi Plan 869 is a unique, single-premium life insurance policy from Life Insurance Corporation of India (LIC) that combines the benefits of savings with life protection.
Introduction to LIC Dhan Vriddhi Plan 869
LIC Dhan Vriddhi Plan 869 is a non-linked, non-participating, single-premium life insurance plan that offers policyholders the dual advantage of financial protection and guaranteed returns.
This plan ensures the family’s financial security in the unfortunate event of the policyholder’s death, as well as a guaranteed lump sum amount at maturity if the policyholder survives the policy term.
Launch Date and Withdraw Date
- Launch Date: 23rd June 2023
- Withdraw Date: 30th September 2023 (First phase), 2nd February 2024 (Relaunch), 1st April 2024 (Final withdrawal)
For the most authentic and up-to-date information, always refer to the official LIC page: LIC Dhan Vriddhi Plan Official.
What is LIC Dhan Vriddhi Plan 869?
The LIC Dhan Vriddhi Plan 869 is designed as a single-premium policy, meaning the entire premium is paid at the start, offering peace of mind with no further premium obligations. It is suitable for people seeking low-risk savings and guaranteed returns, along with life insurance coverage.
Key Highlights:
- Single premium payment at the start
- Guaranteed lump sum on maturity
- Risk coverage throughout the policy term
- Two life cover options
- Loan facility after three months
Features of LIC Dhan Vriddhi Plan 869
- Plan Type: Non-linked, non-participating, individual, savings, single premium life insurance
- Premium Payment: Single premium only
- Policy Terms: 10, 15, and 18 years
- Minimum Sum Assured: ₹1,25,000 (in multiples of ₹5,000)
- Maximum Sum Assured: No upper limit
- Eligibility Age: Varies by option and term (see below)
- Loan Facility: Available after 3 months
Age and Term Details:
- For 10-year term: Minimum entry age 8 years, maximum entry age 60 years (Option 1), 40 years (Option 2)
- For 15-year term: Minimum entry age 3 years, maximum entry age 60 years (Option 1), 35 years (Option 2)
- For 18-year term: Minimum entry age 90 days, maximum entry age 60 years (Option 1), 32 years (Option 2)
Protection and Savings Benefits
LIC Dhan Vriddhi provides two core benefits:
- Death Benefit: Paid to the nominee in case of unfortunate demise during the policy term.
- Maturity Benefit: Paid as a guaranteed lump sum at the end of the policy term if the policyholder survives.
The amount depends on the chosen plan option and accrued guaranteed additions.
Plan Options in LIC Dhan Vriddhi Plan 869
There are two available options under Plan 869:
| Option | Life Cover | Maximum Entry Age | Description |
|---|---|---|---|
| Option 1 | 1.25 × Tabular Premium | 60 years (all terms) | Lower sum assured on death, higher guaranteed additions |
| Option 2 | 10 × Tabular Premium | Varies by term (10 yrs: 40, 15 yrs: 35, 18 yrs: 32) | High cover, lower guaranteed additions |
Tabular Premium: The age, policy term, and sum assured determine the premium. Taxes and extra riders are not included in the tabular premium.
LIC Dhan Vriddhi Plan 869 Calculator
The LIC Dhan Vriddhi Plan 869 Calculator is an online tool that helps policyholders estimate the premium required and the maturity value they are set to receive at the end of the policy term. It is highly customizable, transparent, and provides instant results.
Key Functions:
- Estimates single premium based on age, term, and sum assured
- Projects guaranteed returns and maturity benefits
- Illustrates policy details and benefits for instant comparison
Using the Calculator: Step-By-Step
Step 1: Go to the LIC website or trusted aggregator’s calculator tool:
LIC Premium & Maturity
Step 2: Input your:
- Age at entry
- Desired policy term
- Desired sum assured
- Coverage option (Option 1 or 2)
Step 3: The calculator will show:
- The premium you have to pay
- The guaranteed maturity value
- The amount your nominee will receive in case of your death during the policy term
For deeper insights, external calculators can streamline premium estimation and maturity forecasts.
Death Benefit Details
The sum assured on death depends on the coverage option chosen:
- Option 1: 1.25 times the tabular premium (age, term, sum assured considered)
- Option 2: 10 times the tabular premium
Along with the sum assured, accrued guaranteed additions are paid. For minors (below 8 at entry), if death occurs before risk commencement, only a refund of the paid premium (excluding taxes) is given.
Maturity Benefit
At the end of the policy term, the policyholder receives:
- The basic sum assured
- Accrued guaranteed additions for the term and option chosen
The guaranteed additions are predetermined and declared at policy inception, making benefit calculations transparent.
Policy Eligibility and Limits
Eligibility Criteria Table
| Parameter | Option 1 | Option 2 (10 yrs) | Option 2 (15 yrs) | Option 2 (18 yrs) |
|---|---|---|---|---|
| Entry Age (min) | 8 years (10 yrs) | 8 years | 3 years | 90 days |
| Entry Age (max) | 60 years | 40 years | 35 years | 32 years |
| Maturity Age (max) | 78 years | 50 years (close) | 50 years (close) | 50 years (close) |
| Basic Sum Assured | ₹1,25,000 (min, multiples of ₹5,000) | – | – | – |
| Premium Payment | Single (one-time) | Single | Single | Single |
| Policy Terms | 10, 15, 18 years | 10 years | 15 years | 18 years |
Guaranteed Additions
Guaranteed additions accumulate every year and are paid with maturity/death benefit. The rates are fixed at inception, and differ between the two options (higher for Option 1).
Additional Features
- Loan Facility: Available after 3 months from policy start
- Surrender Value: Allowed after policy issuance; surrender value is transparent
- Tax Benefits: Premium is eligible for tax deductions under Section 80C, and maturity proceeds are tax-free under Section 10(10D) (subject to rules)
- Cooling-off Period: 15 days from receiving the policy document to cancel without penalty
Premium and Maturity Estimation: Example
Consider a 30-year-old opting for Option 1, policy term of 15 years, sum assured ₹5,00,000:
| Parameter | Value |
|---|---|
| Entry Age | 30 years |
| Policy Term | 15 years |
| Option | 1 (1.25 x Tabular Prem.) |
| Sum Assured | ₹5,00,000 |
| Premium (approx) | As per calculator |
| Maturity Value | Sum Assured + Additions |
Use the LIC Official Calculator or a reliable external calculator for exact values as premiums vary based on age, term, and sum assured.
How to Buy LIC Dhan Vriddhi Plan 869
- Available both offline (through agents or POSP-LI) and online via the official LIC website.
- Bring identity, age, and address proof.
- Complete Proposal Form 300 or 360.
- Make a single premium payment via approved channels.
Important Points to Note
- No future premium obligations: Peace of mind for policyholders.
- Immediate risk cover after the commencement period in case of minors.
- Loan and Surrender: After 3 months; check prevailing rates and charges.
- Returns are guaranteed, as this is a non-linked and non-participating plan.
- Jump in coverage: Option 2 provides a higher sum assured on death but lower guaranteed additions.
- Entry Age flexibility: Eligibility for very young children (starting at 90 days) up to mature ages for Option 1.
Frequently Asked Questions
What is LIC Dhan Vriddhi Plan 869?
LIC Dhan Vriddhi Plan 869 is a non-linked, non-participating, single premium endowment plan that combines the benefits of a guaranteed return with life insurance coverage for the policy term.
What are the available policy terms for this plan?
The available policy terms are 10, 15, and 18 years, offering flexibility based on the user’s saving and protection needs.
What is the minimum and maximum sum assured in this plan?
The minimum sum assured is ₹1,25,000 (in multiples of ₹5,000), and there is no upper limit for the maximum sum assured.
Is the premium paid once or regularly?
LIC Dhan Vriddhi Plan 869 requires only a single premium payment at the time of purchase; there is no ongoing premium obligation.
What are the two sum assured options (coverage options) in this plan?
Option 1 offers a sum assured on death of 1.25 times the tabular single premium, while Option 2 offers 10 times the tabular single premium—users can pick either, but the choice cannot be changed later.
Conclusion
LIC Dhan Vriddhi Plan 869 stands as a solid and reliable option for individuals who prefer a one-time premium payment and wish to secure both their savings and their family’s future. Using the smart tools like the LIC Dhan Vriddhi Calculator helps in making an informed investment decision by presenting real-time, precise estimates for both premium and maturity values.