LIC New Jeevan Dhara-II: Securing a steady income stream after you stop working is crucial for every individual and family. With this important goal in mind, the Life Insurance Corporation of India (LIC) has rolled out an exciting new pension plan called New Jeevan Dhara-II.
What is LIC New Jeevan Dhara-II?
This plan can be a great fit for those looking to build a reliable income source down the road. According to LIC, you’ll be able to start purchasing this plan.
It’s worth noting that the new Jeevan Dhara-2 plan is different from the Jeevan Dhara-2 plan that came out in 2024. The earlier version had plan number 872, while the fresh plan carries plan number 892. So, it’s smart to get familiar with the features and advantages of the new plan before you decide to invest.
What exactly is New Jeevan Dhara-2?
LIC’s New Jeevan Dhara-2 is a straightforward, non-linked and non-participating individual savings-based deferred annuity plan. In simple terms, you pay your premiums, and once your chosen period ends, you start getting regular pension payments. You can enjoy this pension for your entire lifetime. The annuity rate stays locked in when you buy the policy, which makes it easier to forecast your future earnings.
Choose between lump sum or regular payments
This plan gives you flexibility in how you pay your premiums based on what works for your budget. You can either make a one-time lump sum payment or spread it out with regular installments. Plus, you get to pick when you’d like your pension to kick in. The frequency of your pension payments and the annuity option you select will be spelled out in your policy details.
You’re eligible to apply starting at age 18
According to LIC’s guidelines, you can join New Jeevan Dhara-2 from age 18 onwards. The upper age limit varies depending on which annuity option and deferment period you go with. Depending on your choice, the maximum entry age could be 65 or 70 years. The earliest you can start receiving your pension is at age 30. Just make sure to review the specific eligibility requirements for your chosen option before applying.
You will get many special benefits
Under this plan, customers can choose an annuity option for an individual or a joint life, depending on their needs. The joint life option can take into account the pension needs of two individuals, such as a husband and wife.
An annuity top-up is also available by paying an additional premium before pension commencement. Customers who pay higher premiums or purchase amounts can receive incentives. Incentives are also available for existing LIC policyholders and certain eligible nominees.
When and where to buy?
LIC’s new New Jeevan Dhara-2 plan is available from October 19, 2026. Customers can purchase it through LIC’s official website or through authorized agents and other designated distribution channels. Before investing, it’s important to understand the premium, pension amount, death benefit, withdrawal terms, and other rules. Keep in mind that the actual pension amount will depend on the option chosen and the amount deposited.