Everyone is worried about their future. And why not? Tomorrow, when the hands and feet begin to leave, all the sources of income will be closed gradually, expenses on diseases will increase and people will start needing money, then to whom will we turn? Therefore, it is important that such a situation does not arise. Plan for tomorrow today and save old age 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 help in old age.
Life Insurance Corporation of India (LIC) has launched the second edition of its most popular retirement insurance plan Jeevan Dhara. LIC Jeevan Section-II is an annuity plan with guaranteed income. The project was launched last month on January 22. LIC Life Section 2 is a non-linked and non-participating annuity plan. It can be invested both online and offline.
The minimum age to invest in LIC Jevandhara-2 plan is 20 years. The upper age limit is decided on an annual basis. The maximum age limit can be 65, 70 and 80 years depending on the annuity. LIC is offering 11 annual options with this plan. The most special thing about LIC Jevandhara-2 is its annual guarantee. LIC Jeondhra 2 Pension Plan has many benefits. Under Section 88 of Income Tax, LIC Jeevan Dhara Plan is eligible for tax benefits.
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What is annuity?
Annuity is a part of insurance. Under an annuity, there is a contract between the insurance company and the insured. Under the contract, the insured invests a lump sum in the company. In the future, instead, the insured is paid in monthly, quarterly or annual installments. Annuity is mainly used for retirement. As long as the insured lives, he will get a fixed amount. After his death, the remaining amount is given to his heirs.
Tags: Insurance Policy, Insurance Scheme, LIC Pension Scheme
First Publication: 15 February 2024, 17:30 IST
LIC Jeevan Dhara II Retirement Plan
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