Life Insurance Corporation (LIC) Chairperson Siddhartha Mohanty launched a new individual saving and annuity plan called Jeevan Dhara II.
The non-participating plan, available for sale from January 22, pertmits a minimum entry age of 20 years.
What are benefits of Jeevan Dhara II plan?
Annuity from inception
Under LIC's Jeevan Dhara II plan, annuity is guaranteed from inception. Jeevan Dhara II policy holders can choose from 11 options offered by the LIC.
Higher annuity for higher ages
The plan offers higher annuity rates at higher ages.
Life cover
Life cover will be available during the deferment period, according to the corporation.
Loan facility
Prospective policy holders can take loans during or after the deferment period under annuity options with return of the premium or purchase price. The deferment period is between five and 15 years for regular premium and between one and 15 years for single premium.
Reliable savings plan
Since Jeevan Dhara II is a non-linked, non-participatory plan, it is immune to market volatility and its performance is not affected by stock market fluctuations.
