Planning for a regular income after retirement is an important part of long-term financial security. To help individuals prepare for their future income needs, the Life Insurance Corporation of India (LIC) has introduced a pension product called New Jeevan Dhara-II.
The plan is designed for people who want to arrange a steady source of income for their retirement years. Before choosing this policy, prospective buyers should understand its features, eligibility criteria, payment options and pension benefits.
What Is LIC New Jeevan Dhara-II?
LIC New Jeevan Dhara-II is an individual, non-linked and non-participating deferred annuity plan. In simple terms, policyholders make a payment towards the plan and begin receiving pension payments after a selected deferment period. The pension can provide income throughout the policyholder’s lifetime, depending on the annuity option selected.
One important feature is that the annuity rate is determined when the policy is purchased, helping customers estimate their future pension income.
This plan should not be confused with the earlier Jeevan Dhara-II policy launched in 2024. The previous version carried plan number 872, whereas the new version has plan number 892. Customers should check the details of the latest plan carefully before making an investment decision.
Premium Payment Options and Eligibility
The plan offers flexibility in how customers pay for their pension. Depending on their requirements, they can choose a single lump-sum payment or make payments through regular instalments. The selected policy terms determine when the pension begins, how frequently payments are made and which annuity option applies.
According to the plan details provided, individuals can enter the scheme from the age of 18. The maximum entry age depends on the selected annuity option and deferment period, with the limit reaching either 65 or 70 years, depending on the applicable conditions.
Pension payments can begin as early as age 30, subject to the terms of the chosen option. Applicants should review the relevant eligibility conditions before purchasing the policy.
Key Benefits of LIC New Jeevan Dhara-II
The plan offers individual and joint-life annuity options. Under a joint-life arrangement, pension requirements can be planned for two people, such as a husband and wife, according to the selected option’s terms.
Another feature is the availability of an annuity top-up through an additional premium paid before the pension starts. LIC also provides incentives for certain higher premium or purchase amounts. Existing LIC policyholders and some eligible nominees may qualify for additional incentives, subject to the applicable conditions.
The benefits available to each customer will depend on the chosen annuity option, payment amount and policy terms.
When and Where Can You Buy the Plan?
LIC New Jeevan Dhara-II is stated to be available from October 19, 2026. Customers can purchase the plan through LIC’s official website, authorised agents and other designated distribution channels.
Before buying the policy, it is important to review the premium requirements, expected pension amount, death benefits, withdrawal conditions and other applicable rules. The pension received will depend on the amount invested and the annuity option selected.
Comparing the available options and understanding the policy conditions can help prospective buyers determine whether the plan suits their long-term retirement income requirements.
Disclaimer
This article is intended for general informational purposes only and should not be treated as financial or investment advice. Policy features, eligibility criteria, incentives and benefits are subject to LIC’s official terms and conditions. Readers should verify the latest policy details through LIC’s official website or an authorised representative before making an investment decision. The actual pension and other benefits may vary according to the selected option and applicable policy terms.