Everyone is worried about their tomorrow. And why not. Tomorrow when our hands and legs start failing, all the sources of income will gradually close down, the expenses of illness will increase, we will start needing every penny, then whom will we look up to? Therefore, it is important that we do not come to such a situation. Plan for tomorrow from today itself and make old age safe in every way. Many people invest in various schemes to avoid financial crisis in old age. We are telling you about a scheme of India’s largest government company, Life Insurance Corporation of India, which will definitely become a support in old age.
Life Insurance Corporation of India (LIC) has launched the second version of its most popular insurance plan for retirement, Jeevan Dhara. LIC Jeevan Dhara-2 is an annuity plan with guaranteed income. This plan was launched on 22 January last month. LIC Jeevan Dhara-2 is a non-linked and non-participating annuity plan. Investment in it can be made both online and offline.
The minimum age for investment in LIC Jeevandhara-2 plan is 20 years. The maximum age limit is decided according to the annuity. The maximum age limit can be 65, 70 and 80 years according to the annuity. LIC is offering 11 options of annuity with this plan. The most special thing about LIC Jeevandhara-2 is its annuity guarantee. There are many benefits of LIC Jeevandhara 2 pension plan. Under Section 88 of Income Tax, LIC Jeevan Dhara plan is eligible for tax benefits.
what is annuity
Annuity is a part of insurance. Under annuity, there is a contract between the insurance company and the policyholder. Under the contract, the policyholder invests a lump sum amount in the company. In return, the policyholder is paid monthly, quarterly or yearly installments in the future. Annuity is especially used for retirement. As long as the policyholder is alive, he will keep receiving a fixed amount. After his death, the remaining amount is given to his heir.
Tags: Insurance Policy, Insurance scheme, LIC Pension Scheme
FIRST PUBLISHED : February 15, 2024, 17:30 IST