The Life Insurance Corporation of India (LIC) has introduced a new insurance plan called Jeevan Dhara II.
This plan is for individuals who want to save money for the future and receive regular payments later.
LIC shared this information in a press release. Jeevan Dhara II is not connected to investments and does not involve sharing profits.
Starting from January 22, 2024, people can buy LIC Jeevan Dhara II both online and offline.
Age Limits
1) The minimum age to start the Jeevan Dhara II policy is 20 years.
2) The maximum age to start the policy depends on the annuity option chosen and can be 80/70/65 years minus the waiting period.
The annuity (regular payments) in this plan is guaranteed right from the beginning.
There are 11 different annuity options for policyholders to choose from. The plan also offers higher annuity rates for older ages.
Special Features
1) Life insurance coverage is available during the waiting period of the policy.
2) You can increase the annuity (the amount you receive regularly) during the waiting period or while the policy is active by paying extra money.
3) You have the choice to receive the death benefit as a lump sum, regular payments, or in installments.
4) The plan provides liquidity, meaning you can access your money when needed.
5) There is a loan option available under the annuity choice, and you can also get a refund of the money you paid in premiums during or after the waiting period.
Annuity Options in LIC Jeevan Dhara II
Regular Premium: Waiting period ranges from 5 to 15 years.
Single Premium: Waiting period ranges from 1 to 15 years.
You can choose between Single Life Annuity and Joint Life Annuity.
This insurance plan offers flexibility and various options to meet different needs.
