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LIC Jeevan Dhara II

18 July 2024 By thelicindia.com Off

LIC Jeevan Dhara II (UIN: 512N364V01)

Overview

LIC’s Jeevan Dhara II is a Non-Linked, Non-Participating, Individual Savings Deferred Annuity Plan. This plan is designed to provide a guaranteed annuity to the policyholder after a specified deferment period. It offers a range of annuity options, catering to various needs and preferences.

Key Features:

  • Wide Range of Annuity Options: Choose from multiple options to suit your needs, including single life and joint life annuity.
  • Flexible Premium Payment: Available in both regular and single premium options.
  • Deferment Period: Select a deferment period ranging from 5 to 15 years for regular premium and 1 to 15 years for single premium.
  • Incentives and Benefits: High premium incentives and special benefits for existing policyholders or beneficiaries.
  • Top-Up Annuity: Increase your annuity by paying additional premiums during the deferment period.
  • Liquidity Option: Option to receive a lump-sum amount in exchange for reduced annuity payments.
  • Death Benefit: Flexibility to take the death benefit as a lump sum, annuitisation, or in instalments.
  • Advanced Annuity Option: For joint life annuities, the surviving annuitant can withdraw a discounted cash value of the annuity during the ‘advance annuity period.’

Annuity Options:

  1. Single Life Annuity:
    • Life annuity for single life.
    • Life annuity with return of premium.
    • Life annuity with 50% or 100% return of premium after age 75 or 80.
    • Life annuity with 5% return of premium after ages 76 to 95.
  2. Joint Life Annuity:
    • Life annuity for joint life.
    • Life annuity with return of premium for joint life.
    • Life annuity with return of purchase price for single or joint life.

Eligibility:

  • Minimum Age at Entry: 20 years (last birthday)
  • Maximum Age at Entry: Varies by option, up to 80 years minus deferment period.
  • Minimum Vesting Age: 31 to 35 years (last birthday), depending on the annuity option.
  • Maximum Vesting Age: 65 to 80 years (last birthday), depending on the annuity option.
  • Deferment Period: 5 to 15 years for regular premium, 1 to 15 years for single premium.
  • Minimum Premium: Starts from ₹11,000 annually for regular premium and ₹1,00,000 for single premium, varying by deferment period and age.
  • Minimum Annuity: ₹1,000 per month, ₹3,000 per quarter, ₹6,000 per half-year, and ₹12,000 per annum.

Benefits:

  1. During Deferment Period:
    • On survival: No benefits payable.
    • On death: 105% of total premiums paid.
  2. After Deferment Period:
    • Regular annuity payments for the annuitant’s lifetime.
    • Death benefits vary by option, generally involving a return of premiums paid.

How to Buy:

You can purchase LIC’s Jeevan Dhara II plan offline through LIC agents or other intermediaries, as well as online directly through LIC’s official website www.licindia.in.

For more details, consult with an LIC agent or visit the LIC website to understand the best annuity option suited for your needs and secure your financial future with LIC’s Jeevan Dhara II.

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