LIC Debuts Jeevan Dhara II - A New Deferred Annuity Plan: Check Details

Life Insurance Corporation of India (LIC) has introduced Jeevan Dhara II, a non-participating, non-linked new plan that will go on sale on January 22, 2024. Jeevan Dhara-II, a savings and deferred annuity plan offered by LIC, is for individuals. In accordance with the appropriate annuity options chosen, benefits are distributed under an in-force policy on the survival or death of the annuitant(s).

Benefits of LIC Jeevan Dhara II Plan

Prospective policyholders have the option of choosing 11 annuity options, and the annuity is guaranteed from the inception.

Higher annuity rates will be applicable at higher ages and life cover is available during the deferment period.
An incentive will be applicable for high premiums or purchase prices for online sales, in the form of a rise in annuity rates for current policyholders, nominees, and corporation beneficiaries.

Anytime throughout the deferment period and as long as the policy is in effect, there is a way to increase the Annuity (Top-up Annuity) under the coverage by paying an extra premium as a single premium.

Policyholders will get an option to opt for proceeds as lump-sum, in the form of annuitisation or in instalments.
Policyholders will get a liquidity option to receive a lump-sum amount in return of reduction in annuity payments and other benefits available under annuity options with return of premium/ purchase price.

The loan facility will be available under annuity options with return of premium/purchase price either during or after the deferment term.

LIC Jeevan Dhara II Plan Options
Regular premium and single premium.
Single life annuity and joint-life annuity.
Deferment Period Available: 1 year to 15 years (for single premium) and 5 years to 15 years (for Regular Premium).
Mode of annuity payments (yearly, half-yearly, quarterly and monthly). Once selected, an annuity option cannot be changed.

How to apply?

According to LIC, this plan can be purchased offline through agents / other intermediaries as well as online directly through website www.licindia.in.