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  • This Plan is a deferred annuity plan designed to help you build a reliable income stream for your retirement years. You can choose to pay premiums regularly or make a single premium payment, select a deferment period, and receive annuity payments after the deferment period according to your chosen annuity option.

    Guaranteed Annuity Rates

    Annuity rates are guaranteed at policy inception, subject to the selected option and policy terms.


    Retirement Income

    Receive annuity payments after the selected deferment period.


    Flexible Premium Payment

    Choose Regular Premium or Single Premium, subject to eligibility.


    Single Life Annuity

    Select an option designed to provide annuity income for one individual.


    Joint Life Annuity

    Choose an eligible option that provides for a second annuitant.


    Flexible Payment Frequency

    Select monthly, quarterly, half-yearly or yearly annuity payments, subject to plan conditions.


    Top-up Facility

    Increase the annuity through an eligible additional premium during the deferment period.


    Death Benefit Options

    Benefits depend on the selected annuity option and the circumstances of death.


    Advantages

    Guaranteed Pension Rate
    Loan Facility
    Secured and Peaceful Retirement Life

    The annuity rates are guaranteed at policy inception, according to the selected option and applicable policy terms. After the deferment period, annuity payments begin in arrears and continue according to the chosen option.

    Whether you are planning for retirement or seeking a structured source of future income, LIC’s New Jeevan Dhara-II offers options to help you plan for your financial needs.

    1. Key Features at a Glance

    ParticularsDetails
    Plan NameLIC’s New Jeevan Dhara-II
    Plan TypeNon-Participating, Non-Linked, Individual Savings, Deferred Annuity Plan
    Minimum Entry Age18 years, last birthday
    Minimum Vesting Age30 years, last birthday
    Premium OptionsRegular Premium and Single Premium
    Deferment Period2–15 years for Regular Premium; 1–15 years for Single Premium
    Annuity OptionsSingle Life and Joint Life options, as available
    Annuity Payment ModesMonthly, quarterly, half-yearly and yearly
    Minimum Annuity₹1,000 monthly; ₹3,000 quarterly; ₹6,000 half-yearly; ₹12,000 yearly
    Top-up FacilityAvailable during the deferment period, subject to conditions
    Maximum PremiumSubject to LIC's applicable rules and underwriting requirements

    The maximum entry age, vesting age and other eligibility conditions vary according to the selected annuity option and deferment period.

    2. Premium Payment Options

    LIC’s New Jeevan Dhara-II offers two premium payment options to suit different financial preferences.

    FeatureRegular PremiumSingle Premium
    Premium PaymentPremiums payable regularlyOne-time lump-sum premium
    Deferment Period2 to 15 years1 to 15 years
    Annuity CommencementAfter the selected deferment periodAfter the selected deferment period
    Suitable ForIndividuals who prefer paying premiums over timeIndividuals who prefer investing a lump sum
    ConditionsSubject to plan rulesSubject to plan rules

    The actual premium or purchase price and annuity amount depend on the selected option, age, deferment period, payment frequency and applicable incentives.

    3. Annuity Options Available

    The plan offers different annuity options designed to meet varying retirement and family financial needs.

    Regular Premium Options

    OptionAnnuity TypeKey Benefit
    Option 1Single LifeLife annuity
    Option 2Single LifeLife annuity with return of premium
    Option 3Single LifeLife annuity with 50% return of premium after attaining age 75
    Option 4Single LifeLife annuity with 100% return of premium after attaining age 75
    Option 5Single LifeLife annuity with 50% return of premium after attaining age 80
    Option 6Single LifeLife annuity with 100% return of premium after attaining age 80
    Option 7Single LifeLife annuity with 5% return of premium after attaining specified ages from 76 to 95
    Option 8Joint LifeLife annuity for joint lives
    Option 9Joint LifeLife annuity with return of premium for joint lives

    Single Premium Options

    OptionAnnuity TypeKey Benefit
    Option 10Single LifeLife annuity with return of purchase price
    Option 11Joint LifeLife annuity with return of purchase price

    Important: The benefits and annuity amount vary by option. Review the official policy document before selecting an option, as the annuity option cannot subsequently be changed under the plan.

    4. Eligibility Conditions

    Eligibility CriteriaDetails
    Minimum Entry Age18 years, last birthday
    Minimum Vesting Age30 years, last birthday
    Maximum Entry AgeVaries by annuity option and deferment period
    Regular Premium Deferment2–15 years
    Single Premium Deferment1–15 years
    Joint Life EligibilityAvailable for specified eligible relationships under policy conditions
    Minimum Premium/Purchase PriceDepends on the selected option and applicable LIC rules

    Eligible Joint Life relationships and maximum age limits should be confirmed against the official LIC brochure for the chosen option.

    5. Survival Benefit

    After completion of the deferment period, annuity payments begin according to the selected annuity option and payment mode.

    Depending on the option selected, the annuity may be payable for the lifetime of a single annuitant or continue for the surviving annuitant under an eligible Joint Life option.

    Generally, no annuity payments are made during the deferment period. Benefits payable if the annuitant dies during this period are governed by the applicable policy provisions.

    6. Death Benefit

    The death benefit depends on the selected annuity option and when the death occurs.

    When Death OccursBenefit Overview
    During Deferment PeriodThe applicable death benefit is determined under the selected option and policy provisions.
    After Annuity CommencementThe benefit, if any, depends on the selected annuity option.
    Return-of-Premium OptionPremiums may be returned according to the option's specified conditions.
    Return-of-Purchase-Price OptionThe purchase price may be payable according to the option's specified conditions.

    Under applicable provisions, settlement may be available as a lump sum, instalments or an annuity, subject to the plan's rules and available settlement choices.

    Refer to the official policy document for the exact calculation and settlement conditions.

    7. Top-up Annuity Facility

    The Top-up Annuity facility allows eligible policyholders to increase their annuity by paying an additional single premium during the deferment period while the policy is in force.

    ParticularsDetails
    FacilityTop-up Annuity
    Minimum Additional Premium₹50,000 per top-up, subject to official plan terms
    AvailabilityDuring the deferment period
    Annuity CalculationBased on applicable rates and conditions at the time of top-up

    This facility may be useful for individuals who want to increase their planned retirement income, subject to the plan's conditions.

    8. Liquidity Option

    The plan provides specified liquidity provisions under which an eligible policyholder may receive a lump-sum amount in exchange for a reduction in annuity payments or other benefits, as applicable.

    The availability, amount and conditions of this facility depend on the selected option and the policy provisions. Review the terms carefully before exercising any liquidity facility.

    9. Incentives

    Eligible policyholders may qualify for incentives under applicable LIC rules.

    Incentive CategoryDescription
    Higher Premium or Purchase PriceIncentives may apply at eligible premium or purchase-price levels.
    Existing LIC PolicyholdersEligible policyholders may qualify for specified incentives.
    Eligible Nominees or BeneficiariesIncentives may be available under applicable LIC provisions.

    Incentives are subject to eligibility and the rates and conditions applicable under the plan.

    10. Tax Benefits

    The tax treatment of premiums and annuity payments depends on prevailing income-tax laws and individual circumstances. Tax benefits are subject to applicable legal conditions and should not be assumed automatically.

     

    11. Who Should Consider This Plan?

    LIC’s New Jeevan Dhara-II may be worth considering for individuals who:

    • Want to plan for a future retirement income.

    • Prefer annuity rates guaranteed at policy inception.

    • Want a choice between Regular Premium and Single Premium.

    • Need a Single Life or eligible Joint Life Annuity option.

    • Want to compare return-of-premium or return-of-purchase-price options.

    The suitable option depends on your age, retirement goals, premium budget, liquidity requirements and family needs.