Excelsior Correspondent
JAMMU, Jan 19: Life Insurance Corporation of India launched a new plan, LIC’s Jeevan Dhara II in a function held here today. The plan was launched by Chairperson, Siddhartha Mohanty.
Speaking on the occasion, Siddhartha Mohanty said that the LIC Jeevan Dhara policy provides an open platform for young adults and the aged to secure their life after retirement. It allows the customers to start early and stay independent by receiving an income even after their retirement. Annuitant and Maximum Age at Entry is 80,70,65 years minus deferment period depending upon the annuity option chosen.
The LIC Jeevan Dhara plan offers multiple time-related options when it comes to the payment of the premium. The customer can pay the whole sum at once or can choose to pay the premium monthly, quarterly, half-yearly, or annually. The customer can link the plan to their salary account and can also pay through automated salary deduction.
The maturity proceedings can be converted into money, upto a maximum of 25%, by the customer without any tax levied upon the sum. The leftover balance is then turned into an annuity according to the applicable rates during the maturity of the plan. The customer can also choose to get pensions based on the entire corpus amount. The customer is also given a choice to select between five annuity courses of action.
The customer is given a choice to set a ‘Notional Cash Option.’ This Notional Cash Option is not paid wholly and, along with the accumulated bonuses, becomes the maturity proceedings.
For annually paid premiums, the customer also gets to avail of a higher cover (optional) through the Term Assurance Rider.
This Plan can be purchased Offline through agents / other intermediaries as well as Online directly through website www.licindia.in.
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