LIC launches new plan ‘Jeevan Dhara II’
Mumbai: Life Insurance Corporation of India (LIC) Chairperson Siddhartha Mohanty launched a new plan, LIC’s Jeevan Dhara II which will be available for sale from January 22, 2024. LIC’s Jeevan Dhara-II is an Individual, Savings, Deferred Annuity Plan. The Unique Identification Number (UIN) for LIC’s Jeevan Dhara-II is UIN: 512N364V01
The minimum Age at Entry is 20 years (last birthday) for Annuitant/Primary/Secondary Annuitant and Maximum Age at Entry is 80,70,65 years minus deferment period depending upon the annuity option chosen. The annuity is guaranteed from inception and 11 annuity options are available to prospective policyholders. The annuity rates are higher at higher ages. Life cover is available during deferment period.
The plan offers flexibility to choose from: (1) Regular Premium and Single Premium, (2) Single Life Annuity and Joint Life Annuity, (3) Available Deferment Period [from 5 years to 15 years (in case of Regular Premium) and from 1 year to 15 years (in case of Single Premium)] i.e. when to start annuity payments as per your requirements and (4) Mode of Annuity payments (yearly, half-yearly, quarterly and monthly). Annuity Option once chosen cannot be altered.
The plan provides incentive for High Premium /Purchase price/ for Online Sale by way of increase in the annuity rate/ for existing Policyholders/Nominee/Beneficiary of the Corporation.
There is an option to increase the Annuity (Top-up annuity) under the policy by paying additional premium as a Single Premium and at any time during the deferment period only and while the policy is in-force.
The plan offers option to take death claim proceeds as Lump-sum, in the form of Annuitisation or in instalments.
Liquidity Option i.e. 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.
Loan facility shall be available during or after the deferment period under annuity options with Return of Premium/ Purchase Price. The Plan is a Non-Linked, Non-Participating Plan.
Benefits are payable under an in-force policy on Survival/Death of the Annuitant(s) under applicable Annuity Options selected.
Please refer to the full Product Prospectus and Sales Brochure for details or visit our website www.licindia.in.
This Plan can be purchased Offline through agents / other intermediaries as well as Online directly through website www.licindia.in.
