LIC New Jeevan Dhara II: The country’s largest insurance company, LIC, has launched a new scheme called ‘New Jeevan Dhara-II’. This scheme is proving beneficial for those who wish to secure their future financially. The primary objective of this scheme is to provide a regular income after retirement, helping to cover daily expenses in one’s later years.
It is important to note that this product is a non-participatory, non-linked, deferred annuity plan from LIC. To receive a regular pension in the future, one must invest in advance; subsequently, you begin receiving periodic payouts. Let’s explore the key features of New Jeevan Dhara-II in detail.
Option for a Single Premium or Regular Premiums
The scheme offers flexible premium payment options. Depending on their financial situation, customers can choose to pay a single lump-sum premium or opt for regular premium payments, allowing individuals to tailor the scheme to their specific needs.
Regular Income After Retirement
A notable feature of this scheme is that it allows for the arrangement of a regular income for the future. The payout rate is determined based on the options selected and the terms agreed upon at the time of purchasing the policy. Once the payout phase begins, the policyholder can receive funds on a monthly, quarterly, half-yearly, or annual basis.
Non-Linked and Non-Participatory Scheme
A key characteristic of this LIC scheme is that it is both non-linked and non-participatory. This means the policyholder does not receive a share in the company’s profits (bonuses). The scheme is subject to specific terms and conditions, and its benefits are not dependent on market fluctuations. It is essential to understand all the terms and conditions when purchasing a policy.
Eligible Age for the Policy
According to the available information, the minimum age to avail of this policy is 18 years, and the maximum age is 65 years. Policyholders must fall within this age range to be eligible. This policy also offers the benefits of ‘LIC Health Shield’ and ‘LIC New Cancer Cover’.
When Can You Avail the Policy Benefits?
According to LIC’s post on the social media platform X, the benefits of ‘New Jeevan Dhara-II’ will be available starting from October 19, 2026. This policy was launched on October 15.