LIC introduces Jeevan Dhara II

Hyderabad: Life Insurance Corporation of India (LIC) introduced a new plan LIC’s Jeevan Dhara II which will be available for sale from Monday. LIC Chairperson Siddhartha Mohanty launched this plan on Friday.

LIC’s Jeevan Dhara-II is an individual, savings, deferred annuity plan. The minimum age at entry is 20 years for annuitant/primary/secondary annuitant and maximum age at entry is 80/70/65 years minus deferment period depending upon the annuity option chosen. The annuity is guaranteed from inception and 11 annuity options are available to prospective policyholders. There are higher annuity rates at higher ages.

Life cover is available during deferment period. There is flexibility to choose from regular premium and single premium, as well as single life annuity and joint life annuity. Loan facility shall be available during or after the deferment period under annuity options with return of premium/ purchase price. The plan is a non-linked, non-participating plan.