LIC Jeevan Dhara-2 Plan 872

LIC of India has introduced Jeevan Dhara-2 plan 872, a new individual, savings, deferred annuity (pension) plan. LIC Jeevan Dhara-2 Plan 872 is available for sale from 22nd, January 2024. The annuity is guaranteed from inception and 11 annuity options are available to prospective policyholders. There is higher annuity rates at higher ages and life cover will be available during the deferment period.

The minimum age at entry should be 20 years (last birthday) and maximum 80, 70, 65 years minus the deferment period depending upon the annuity option chosen. There is flexibility to choose from, including regular and single premium; single life and joint life annuity; and available deferment period.

Other features of the non–linked, non–participating plan, subject to certain conditions, include incentive by way of increase in the annuity rate for high premium/purchase price/for online sale; top-up annuity and option to receive a lump-sum amount in return of reduction in annuity payments.

The Unique Identification Number (UIN) for LIC’s Jeevan Dhara-II is UIN: 512N364V01

Key Features

• The annuity is guaranteed from inception and 11 annuity options are available to prospective policyholders.
• There is higher annuity rates at higher ages.
• Life cover is available during deferment period.
• There is flexibility to choose from:
  • Regular Premium and Single Premium.
  • Single Life Annuity and Joint Life Annuity.
  • Available Deferment Period [from 5 years to 15 years (in case of Regular Premium) and from 1 year to 15 years (in case of Single Premium)] i.e. when to start annuity payments as per your requirements.
  • Mode of Annuity payments (yearly, half–yearly, quarterly and monthly). Annuity Option once chosen cannot be altered.
• There is an option to increase the Annuity (Top-up annuity) under the policy by paying additional premium as a Single Premium and at any time during the deferment period only and while the policy is in-force.
• Option to take death claim proceeds as Lump-sum, in the form of Annuitisation or in instalments.
• Liquidity Option i.e. option to receive a lump-sum amount in return of reduction in annuity payments and other benefits available under annuity options with Return of Premium/ Purchase Price.
• Loan facility shall be available during or after the deferment period under annuity options with Return of Premium/ Purchase Price.

Annuity Options

LIC Jeevan Dhara-2 Plan 872 Parameter/Eligibility

Death Benefit

• (A)Single Life: (Options 1 to 7 and 10)

• Death During Deferment period:

• 105% of Total Premiums Paid upto the date of death shall be payable to nominee(s)

• Death After Deferment period: Annuity payment Ceases

• For Life Annuity without return of Purchase Price:(Option 1)

• No Death Benefit is payable and policy will Terminate

• For Annuity options with return of Purchase Price: (Options 2 and 10)

• 100% of Total Premiums Paid shall be payable to nominee(s)

• For Annuity options with return of Purchase Price after attaining ages 75/80/76 to 95 years:(Options 3 to 7)

• 100% of Total Premiums Paid Less Sum of Early Return of Premium already paid till the date of death, if any, shall be payable to

nominee(s)

• (B)Joint Lives (Options 8,9 & 11)

• Death During Deferment period:

• On First Death (of either of the covered lives):

• No Death Benefit shall be payable and policy shall continue with payment of due Premiums, if any

• On death of the last survivor:

• Death Benefit equal to 105% of Total Premiums Paid upto the date of death shall be payable to nominee(s)

• Death After Deferment period:

• On First Death (of either of the covered lives): ( Options 8, 9 & 11)

• No Death Benefit shall be payable and 100% of the annuity amount shall continue to be paid as long as the last survivor is alive.

• On death of the last survivor: Annuity payment Ceases

• Option 8: Life Annuity without return of Purchase Price

• No Death Benefit is payable and policy will Terminate

• Option 9 and 11 with return of purchase price:

• 100% of Total Premiums Paid shall be payable to nominee(s)

Surrender

Under Single Premium Policies: Can be surrendered, any time on payment of Purchase Price.
• Under Regular Premium Policies: Can be surrendered, any time during or after Deferment Period provided 
premiums have been paid for at least two consecutive years.

Loan

Available under the options with Return of Premiums

• Within Surrender Value

• During or after the deferment period

• Maximum loan amount such that loan interest should not exceed 50% of the annual annuity payable, subject to

max 80% of the Surrender Value

Revival

Can be done within a period of 5 consecutive years from the date of First Unpaid Premium

Liquidity Option

• Liquidity facility is for annuities with return of premium option only (Under Annuity Options 2, 9, 10 and 11)

• Option to receive portion of the premium/purchase price after 5 years from the commencement of the

annuity

• Annuity and other benefits will proportionately reduced

• Liquidity facility not applicable for topup payments

• Can be exercised maximum 3 times under the policy

• Cannot exceed 60% of total premiums paid

Minimum Yearly Premium(Regular Premium)

Minimum Purchase Price for Single Premium