LIC Dhan Varsha 866 is a single-premium, guaranteed savings plan sold only from 17 October 2022 to 31 March 2023. You chose a 10 or 15-year term and death cover of 1.25 or 10 times the premium. For a 30-year-old with ₹10 lakh basic sum assured on a 15-year term under Option 1, the single premium is about ₹8 lakh and maturity is ₹21.25 lakh.
Dhan Varsha 866 Single Premium & Maturity Calculator
Your estimate
basic sum assured + guaranteed additions
- Sum assured on deathplus guaranteed additions accrued
- ₹10,00,000
- Guaranteed addition per year
- ₹75,000
- Guaranteed additions
- ₹11,25,000
- Approx. return (IRR)
- 6.73%
- Age at maturity
- 45 years
- Single premium₹8,00,00038%
- Net gain₹13,25,00062%
Year-wise guaranteed additions and death benefit
| Year | Age | Guaranteed additions (total) | Death benefit |
|---|---|---|---|
| 1 | 31 | ₹75,000 | ₹10,75,000 |
| 2 | 32 | ₹1,50,000 | ₹11,50,000 |
| 3 | 33 | ₹2,25,000 | ₹12,25,000 |
| 4 | 34 | ₹3,00,000 | ₹13,00,000 |
| 5 | 35 | ₹3,75,000 | ₹13,75,000 |
| 6 | 36 | ₹4,50,000 | ₹14,50,000 |
| 7 | 37 | ₹5,25,000 | ₹15,25,000 |
| 8 | 38 | ₹6,00,000 | ₹16,00,000 |
| 9 | 39 | ₹6,75,000 | ₹16,75,000 |
| 10 | 40 | ₹7,50,000 | ₹17,50,000 |
| 11 | 41 | ₹8,25,000 | ₹18,25,000 |
| 12 | 42 | ₹9,00,000 | ₹19,00,000 |
| 13 | 43 | ₹9,75,000 | ₹19,75,000 |
| 14 | 44 | ₹10,50,000 | ₹20,50,000 |
| 15 | 45 | ₹11,25,000 | ₹21,25,000 |
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC Dhan Varsha Plan 866?
LIC Dhan Varsha (Plan 866) is a non-linked, non-participating savings plan with a single premium. You pay once, and LIC guarantees two things from day one: the maturity amount and the death cover. Growth comes through guaranteed additions credited every year.
It was a limited-period offer: launched on 17 October 2022 (UIN 512N349V01) and closed on 31 March 2023. LIC followed it with Dhan Vriddhi 869 in June 2023, which added an 18-year term and sum-assured-linked addition rates.
Dhan Varsha 866 at a glance
| Feature | Option 1 | Option 2 |
|---|---|---|
| Death cover | 1.25 × single premium | 10 × single premium |
| Policy term | 10 or 15 years | 10 or 15 years |
| Entry age (10-year term) | 8 to 60 | 8 to 40 |
| Entry age (15-year term) | 3 to 60 | 3 to 35 |
| Maximum maturity age | 75 | 50 |
| Minimum basic sum assured | ₹1,25,000 (multiples of ₹5,000) | Same |
| Loan | After 3 months | After 3 months |
How the single premium is calculated
The single premium is a percentage of the basic sum assured, based on age, term and option. It is roughly 80% of the sum assured for younger buyers under Option 1 and rises slowly with age. Option 2 costs a little more on the 10-year term because of its much larger cover.
Example 1 (Option 1, 15 years): a 30-year-old chooses ₹10 lakh basic sum assured. The single premium is about ₹8,00,000. Guaranteed additions of ₹75,000 a year for 15 years add ₹11.25 lakh, so maturity is ₹21,25,000, an IRR of about 6.7%.
Example 2 (Option 2, 10 years): the same person pays about ₹8,80,000 for ₹10 lakh sum assured. Maturity is ₹13,00,000 (IRR about 4%), but the death cover is a large ₹88,00,000.
Tip: premiums carry no GST from 22 September 2025. When Dhan Varsha was sold, a 4.5% GST was added to the single premium, so your original receipt will show a higher amount than the premium itself.
Death benefit
If the life assured dies during the term, the nominee receives the sum assured on death (1.25× or 10× the single premium) plus guaranteed additions accrued so far. For children, risk cover starts as per the policy terms, with a refund of premium before that date.
Loan and surrender
A loan is available three months after the policy starts, as a share of the surrender value. The policy can be surrendered too, but the surrender value in early years is below the premium paid, so exit only if you must. For a rough figure, see the LIC surrender value calculator.
Which option made sense?
Option 1 gave the better guaranteed return but taxable maturity for most buyers. Option 2 traded return for large life cover and tax-free maturity, which suited younger buyers without separate term insurance. If you hold Dhan Varsha, keep it to maturity; the guaranteed return is locked in. To compare the outcome with other products, try the LIC maturity calculator.
How to use this calculator
- Select the term and option.
- Enter age and basic sum assured.
- Review the single premium, maturity value, IRR and the year-wise death benefit table. Figures are estimates; your policy bond has the exact values.
Frequently asked questions
Can I still buy LIC Dhan Varsha 866?
No. Dhan Varsha was a limited-period plan, open from 17 October 2022 to 31 March 2023. Policies bought in that window continue with all guaranteed benefits. Its closest successor was Dhan Vriddhi 869, itself a short-window plan launched in June 2023.
What is the difference between Option 1 and Option 2?
Option 1 gives death cover of 1.25 times the single premium and higher guaranteed additions. Option 2 gives cover of 10 times the premium but lower additions. Option 2 is aimed at people who want tax-free maturity and larger life cover.
How much are the guaranteed additions?
In our calculator, Option 1 earns ₹55 per ₹1,000 sum assured a year on a 10-year term and ₹75 on a 15-year term. Option 2 earns ₹30 and ₹40. Additions accrue every year and are paid at maturity or on death.
What is the maturity value of Dhan Varsha?
Maturity value is the basic sum assured plus all guaranteed additions. For ₹10 lakh on a 15-year term under Option 1, that is ₹10 lakh plus ₹11.25 lakh of additions: ₹21.25 lakh, fixed at the start.
Who could buy Dhan Varsha?
Minimum entry age was 8 years for the 10-year term and 3 years for the 15-year term. Maximum age was 60 under Option 1, and 40 (10-year) or 35 (15-year) under Option 2. Minimum basic sum assured was ₹1,25,000.
Is Dhan Varsha maturity tax-free?
Option 2 has cover of 10 times the premium, so its maturity is generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)). Option 1 cover is only 1.25 times the premium, which fails the 10% test, so its maturity gain is generally taxable.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.