MUMBAI: Chairperson,Siddhartha Mohanty, Life Insurance Corporation of India launched a new plan, LIC’s Jeevan Dhara II, which is available for sale from 22.01.2024.
LIC’s Jeevan Dhara-II is an individual, savings, deferred annuity Plan. 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 .
Among the features of the latest product is the guaranteed annuity from inception with 11 annuity options are available to prospective policyholders. A higher annuity rate is applicable at higher ages and life cover is available during deferment period, as per a release.
A notable feature includes the flexibility it offers to a policyholder who can choose from: regular premium and single premium. It can be single life annuity and joint life annuity. The plan is a non-linked and non-participating one, it said.
Benefits are payable under an in-force policy on survival/death of the annuitant(s) under applicable annuity options selected.