A Comprehensive Guide to Your Retirement Planning

In today’s uncertain world, one thing we all seek is a financially secure retirement. LIC of India understands this need and has launched a powerful pension product — LIC Jeevan Dhara-2 Plan 872 (Plan No. 872). This plan is designed to give you peace of mind in your retirement years by offering guaranteed annuity income and several customizable options.

Launched on 22nd January 2024, this plan is ideal for individuals seeking regular income after retirement with added security, flexibility, and guaranteed annuity benefits.

What is LIC Jeevan Dhara-2?

LIC Jeevan Dhara-2 is a Non-Linked, Non-Participating, Individual Savings, Deferred Annuity Plan, which means it’s not affected by the stock market and doesn’t participate in company profits. It’s purely designed to give you a guaranteed pension income after a deferment period that you choose.

It offers:

Deferred annuity income: You decide when you want the pension to start.
11 unique annuity options: Choose based on your needs — single life, joint life, with or without return of purchase price.
Flexibility to pay premiums: One-time or regular payments.
Life cover during deferment period.

Key Features of LIC Jeevan Dhara-2

Feature	Description
Plan Type	Deferred Annuity with 11 options
Launch Date	22nd January 2024
UIN	512N364V01
Premium Modes	Single Premium or Regular Premium
Life Cover	Available during deferment period
Loan Facility	Available under return of premium options
Liquidity Option	Lump-sum withdrawal facility (with conditions)
Top-up Option	Additional premium allowed during deferment period

Eligibility Criteria

Parameter	Regular Premium	Single Premium
Minimum Entry Age	20 years	20 years
Maximum Entry Age	Varies by annuity option: up to 80 years minus deferment period
Deferment Period	5 to 15 years	1 to 15 years
Minimum Annuity Purchase Price	₹1,50,000 (can vary based on option)
Maximum Age at Vesting	80 years (single life) / 75 years (joint life)

Available Annuity Options

LIC offers 11 annuity options under this plan, broadly categorized into:

Single Life Options (1 to 7, 10)
Joint Life Options (8, 9, 11)

Deferment Period: Your Control Over Pension Start

You can decide when you want your annuity payments to begin, called the Deferment Period.

Premium Type	Deferment Period Range
Regular Premium	5 to 15 years
Single Premium	1 to 15 years

Mode of Annuity Payout

You can choose how frequently you want to receive your pension:

Monthly
Quarterly
Half-yearly
Yearly

More frequent payouts may have slightly lower annuity rates due to administrative costs.

Death Benefits

LIC provides death benefit coverage during deferment period, which varies by annuity option:

A. Single Life Options (1 to 7, 10)

Death During Deferment Period:
105% of total premiums paid will be paid to nominee(s).
Death After Deferment Period:
- Option 1 (without return): No benefit, annuity stops.
- Option 2 & 10 (with return): 100% of premiums paid.
- Options 3 to 7: 100% of premiums minus early return (if any).

B. Joint Life Options (8, 9, 11)

Death During Deferment:
- First death: Policy continues.
- Last death: 105% of premiums paid to nominee(s).
Death After Deferment:
- First death: Full annuity continues to survivor.
- Last death: Annuity stops.
- Options 9 & 11: Return of purchase price on last death.

Liquidity Option: Emergency Support

You can opt for partial withdrawal of premiums under select annuity options (2, 9, 10, 11) after 5 years of policy commencement.

Feature	Description
Eligibility	Only for annuity with return of premium
When?	After 5 years from commencement
How Many Times?	Maximum 3 times
Limit	Up to 60% of total premiums paid
Impact	Annuity reduces proportionally

Top-up Annuity Option

During the deferment period, while your policy is active, you can increase your pension income by paying additional Single Premiums. This helps boost your retirement income without buying a new plan.

Surrender & Loan Facility

Surrender:

Single Premium: Can be surrendered anytime.
Regular Premium: After 2 years of premium payment.

Loan:

Available during/after deferment for options with return of premium.
Max Loan: 80% of surrender value, interest should not exceed 50% of annual annuity.

Revival

If you miss premiums under the Regular Premium plan, you can revive your policy within 5 years from the date of the first unpaid premium.

Tabular Example: LIC Jeevan Dhara-2 Pension Illustration

Let’s assume the following for illustration:

Particular	Details
Age at Entry	45 Years
Premium Type	Single Premium
Purchase Price	₹10,00,000
Deferment Period	10 Years
Annuity Option	Option 2: Life Annuity with Return of Purchase Price
Payout Mode	Yearly
Annuity Rate (Approx.)	₹7.8% (age-based, estimated)

Year	Age	Status	Annual Annuity	Death Benefit
1-10	45–54	Deferment Period	₹0	105% of Premium = ₹10,50,000
11–Lifetime	55+	Annuity Starts	₹78,000/year	₹10,00,000 to nominee (on death)

Note: Actual annuity rates will depend on LIC’s prevailing rates at purchase and can vary.

Why Choose LIC Jeevan Dhara-2?

✅ Guaranteed Lifetime Income
✅ Customizable Plans to Suit Every Need
✅ Death Cover During Deferment
✅ Tax Benefits under 80CCC & 10(10A)
✅ Backed by India’s Most Trusted Insurer – LIC

Final Thoughts

LIC Jeevan Dhara-2 is more than just a pension plan — it’s your retirement partner for life. With guaranteed income, life cover, liquidity, and flexibility, it’s one of the most versatile annuity plans in the Indian insurance market.

Whether you are salaried, self-employed, or planning early retirement, this plan can be tailored to ensure a stress-free golden age.