LIC of India
LIC Jeevan Dhara-II Policy

LIC Jeevan Dhara-II Plan

LIC recently launched the Jeevan Dhara-II plan on 22nd January 2024, a non-participating, non-linked, individual savings, and deferred annuity plan. The primary aim of the policy is to offer lifelong guaranteed income to its policyholders and their family members.

The annuity is guaranteed right from the beginning of the policy, and there are 11 different annuity options for individuals interested in buying this plan. The rates for the annuity are higher as the individual gets older, and there’s life insurance coverage during the deferment period.

Organizations like LIC earn profits over the course of the financial year. As LIC Jeevan Dhara-II is a non-participating product, it does not pay out any dividends or bonuses (except those explicitly stated in the policy) based on LIC’s profits. In simple words, the benefits of such profits are not passed on to the policyholders. 

Continue reading to know more about the plan!

Eligibility Criteria Of LIC Jeevan Dhara-II Plan

Minimum Entry Age20 Years
Deferment Period

For Annuity Options 1 To 9: 5 To 15 Years

For Annuity Options 10 & 11: 1 To 15 Years

Maximum Entry Age

For Primary Annuitant

Annuity OptionsMax. Entry Age
1, 2, 8, 9, 10, & 1180 Minus Deferment Period
5, 6, & 770 Minus Deferment Period
3 & 465 Minus Deferment Period

For Secondary Annuitant

Annuity OptionsMax. Entry Age
8 & 975 Years
1179 Years
Premium Payment Term
  • Under Regular Premium: Same As Deferment Period
  • Under Single Premium: Single Pay
Vesting Age31 To 80 Years (Refer To Policy Brochure For More Details)

Key Features & Benefits Of LIC Jeevan Dhara-II

Here are some of the most prominent features and benefits of Jeevan Dhara-II plan from LIC:

Wide Range Of Annuity Options:

Under the plan, 11 annuity options are provided to the prospective policyholders. Having such a wide range of annuity options in an insurance plan offers policyholders greater flexibility to tailor the plan to their specific needs and preferences. The annuity options are listed below:

  • Option 1: Life Annuity for Single Life
  • Option 2: Life Annuity with Return of Premium for Single Life
  • Option 3: Life Annuity with 50% Return of Premium after attaining age 75 years for Single Life
  • Option 4: Life Annuity with 100% Return of Premium after attaining age 75 years for Single Life
  • Option 5: Life Annuity with 50% Return of Premium after attaining age 80 years for Single Life
  • Option 6: Life Annuity with 100% Return of Premium after attaining age 80 years for Single Life
  • Option 7: Life Annuity with 5% Return of Premium after attaining age 76 years to 95 years for Single Life
  • Option 8: Life Annuity for Joint Life
  • Option 9: Life Annuity with Return of Premium for Joint Life
  • Option 10: Life Annuity with Return of Purchase Price for Single Life
  • Option 11: Life Annuity with Return of Purchase Price for Joint Life

Death Benefit:

Each annuity option of the plan offers death benefits to the policyholders as per their terms and conditions as mentioned in the policy’s sales brochure. These death benefits can be received as a lump-sum amount, in the form of annuitization, or installments. This payment can help cover immediate expenses, such as funeral costs, previous debts, and daily living expenses.

Life Cover During Deferment Period:

This is one of the most incredible features of the LIC Jeevan Dhara-II plan. It offers ‘lifelong cover during the deferment period’, which means that the insurance coverage remains active throughout the entire life of the policyholder, even if there is a period of delay (deferment period) before certain benefits become payable.

Higher Flexibility:

The plan offers various opportunities to adapt and accommodate the unique needs and preferences of the policyholders. One can choose from the following:

  • Regular or single premium
  • Single-life or joint-life annuity
  • Available deferment period
  • Yearly, half-yearly, quarterly, and monthly mode of annuity payments

Attractive Incentives:

The Jeevan Dhara-II plan from LIC also offers some incentives (as stated in the policy) to its policyholders to retain existing and attract new customers. These incentives are as follows:

  • Incentive for a high premium amount or purchasing price
  • Incentive for existing policyholders/beneficiaries/nominees of the corporation
  • Incentive for online sales

To know about the exact values of incentives, kindly refer to the brochure!

Top-Up Annuity Option:

The plan provides an opportunity to boost the annuity by making extra premium payments. This option is available only during the deferment period and as long as the policy is active.

The increased annuity, known as the ‘top-up annuity’, depends on the current annuity rates at the time of the additional payment. It is also subject to the prevailing product criteria at that time.

Liquidity Option:

This option allows for a one-time lump-sum payment in exchange for a decrease in annuity payments and associated benefits. It is only applicable to ‘Annuity Options with a Return of Premium’ (Options 2, 9, 10, and 11). It can be opted after a minimum of 5 years from the 1st annuity payment and is allowed for a maximum of 3 times during the policy term.

Advanced Annuity Options:

In ‘Joint Life Annuity Options with Return of Premium’ (Option 9 and 11), if one of the covered lives passes away first, the one who survives can decide to get a one-time payment. This payment is the discounted cash value of the annuity for a period called the ‘Advanced Annuity Period’ (which lasts for a maximum of 5 years).

This special feature is available only after the deferment period expires, and it must be exercised within 6 months from the date of the first death of either of the covered lives.

Suicide Exclusion:

The LIC Jeevan Dhara-II plan has a provision that restricts or excludes coverage for death by suicide during a particular period after the policy starts. If the policyholder passes away by suicide within the first year of the policy’s start, approximately 80% of the premiums paid will be refunded to the policyholder’s nominee. This provision does not apply to policies that have lapsed without accumulating a paid-up value, and in such cases, no benefits will be payable.

Sample Benefit Illustration Of LIC Jeevan Dhara-II

Let’s take the example of Mr. Manish Aggarwal, a 45-year-old male, who has purchased ‘Annuity Option 2’ of the policy.

Other details of the policy are as follows:

  • Plan Option: Life Annuity with Return of Premium for Single Life
  • Deferment Period: 15 Years
  • Premium Payment: Regular
  • Mode Of Premium Payment: Annually
  • Mode Of Annuity Payment: Annually
  • Instalment Premium: Rs. 50,000
  • Annuity Installment: Rs. 86,740
  • GST Rate (1st Year): 4.5%
  • GST Rate (2nd Year Onwards): 2.25%

Note: GST rates may change from time to time. Thus, make sure to refer to the latest GST rates for calculation purposes.

The plan will provide various benefits, inducing survival and death benefits, to Mr. Aggarwal. The following table will showcase the benefits received by Mr. Aggarwal for up to 101 years of his age.

Policy Year (End Of Year)Annual Premium Paid By Mr. Aggarwal (Cumulative)Survival Benefit Death Benefits
1Rs. 50,0000Rs. 52,500
2Rs. 50,000 Rs. 5,000 = Rs. 1,00,0000Rs. 1,05,000
3Rs. 1,00,000 + Rs. 50,000 = Rs. 1,50,0000Rs. 1,57,500
10Rs. 5,00,0000Rs. 5,25,000
16Rs. 7,50,000Rs. 86,740Rs. 7,50,000
20Rs. 7,50,000Rs. 86,740Rs. 7,50,000
30Rs. 7,50,000Rs. 86,740Rs. 7,50,000
40Rs. 7,50,000Rs. 86,740Rs. 7,50,000
50Rs. 7,50,000Rs. 86,740Rs. 7,50,000
56Rs. 7,50,000Rs. 86,740Rs. 7,50,000

How To Buy LIC Jeevan Dhara-II Plan?

LIC Jeevan Dhara-II plan can be purchased by the following means:


  1. Pay a visit to the official website of LIC.
  1. Click on the “Buy Online” tab under the “How may we help you today?” section at the top left of the page.
  1. Now press “Retirement Plans” and then click “LIC Jeevan Dhara II” and press “Know More”.
  1. Now the page will lead you to an external buying link. Press “CLICK TO BUY ONLINE”.
  1. Some instructions regarding required documents will be displayed out on your screen. Just read them and then press “Proceed”.
  1. Enter your contact details, such as your name, phone number, email address, and more, and then click “Proceed”.
  1. Your access ID will be generated. Enter your mobile and email OTP and then press “Proceed”.
  1. Check your personal information and enter your product details, such as annuity type, payment mode, and deferment period, to name a few. After entering all the required details, kindly click “Calculate Premium”.
  1. Once the quote is generated, complete the payment, and the policy details will be sent to your registered mail address or phone number.


To purchase the plan offline, one can visit the nearby LIC branch office. Reach out to the executive’s desk and provide them with all the necessary information required to purchase the policy. One can also purchase the policy through third-party agents or other intermediaries; however, make sure they are reputable and trustworthy parties.

Frequently Asked Questions

Yes. A loan facility is available under the annuity options with a ‘Return of Premium/Purchase Price’ during and after the deferment period. It allows the policyholders to borrow money against the cash value of their insurance policy.

In case you are not satisfied with the terms and conditions of the Jeevan Dhara-II plan, you have a free-look period of 30 days, within which you may return the policy to LIC. Talking about the grace period, it’s 30 days for yearly, half-yearly, or quarterly premiums; and 15 days for monthly premiums. The period will start from the date of the first unpaid premium.

You can make only the following changes under your Jeevan Dhara-II policy. They are as follows:

  • Changes in premium payment mode during deferment period
  • Changes in mode of annuity payments

The annuity payments can be done through yearly, half-yearly, quarterly, or monthly mode.

You can choose any of the following modes to pay your premium amount for LIC Jeevan Dhara-II policy:

  • Monthly
  • Yearly
  • Half-yearly
  • Quarterly
  • Through salary deductions
  • Single premium

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