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

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.

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

Single Premium Options

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

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.

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.

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.

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.