LIC New Insurance Plan: This new insurance plan of LIC is actually an annuity plan, with which lifetime income is guaranteed…
Government insurance company LIC has launched its new insurance plan. This plan of LIC is a guaranteed income annuity plan. It has been named LIC Jeevan Dhara-2.
Will be available for purchase from Monday
LIC gave information about this new plan in a press release. The company said in a statement that LIC Jeevan Section 2 is a non-linked and non-participating plan. This plan will be available from Monday. That means this plan can be purchased from Monday. The company has said that this plan can be purchased in any way, online or offline.
Annuity guarantee in this policy from day one
The minimum age to buy this annuity plan of LIC is 20 years, while the maximum age limit will be decided according to the annuity option. The maximum age limit for purchasing the plan is 80 years, 70 years and 65 years minus deferment period. The most special thing about this plan is the annuity guarantee. LIC said in the release that 11 annuity options are available with the plan. Annuity is guaranteed from day one and there is a provision for higher annuity rate with increasing age.
Feature of top-up annuity is available
In this plan of LIC, insurance cover is available during the deferment period of the policy. In this plan, there is an option to increase the annuity through top-up annuity. The policyholder can opt for Top-Annuity by paying an additional premium as a single premium any time during the deferment period when the policy is in force.
Three main options of annuity
Liquidity option is also available under this new plan. For example, the policyholder can choose a lump sum payment to compensate for the shortfall in annuity payments. Under this policy, the policyholder gets loan facility during and after the deferment period. Many annuity options are available in this plan, among them the three main options are. The first option is of regular premium, in which the deferment period is from 5 years to 15 years. The second option is of single premium, in which the deferment period is from 1 year to 15 years. The third option is joint life annuity and single life annuity.
