LIC is launching its new pension plan Jeevan Dhara 2 (No.872) on 22nd January 2024. Should you invest in this GUARANTEED new pension plan of LIC?
LIC Jeevan Dhara 2 is a pension plan that GUARANTEES a fixed income for your retirement. It provides life cover only during the deferment period and offers both single and regular premium options. Additionally, existing LIC policyholders, nominees, or beneficiaries can enjoy enhanced benefits of this plan.
Do remember that this is a deferred annuity plan but not an immediate annuity plan. Before proceeding further, first, let us understand few terminologies used in retirement plans.
In simple terms, you can say it is a Pension, where you will get regular income up to the specified period or conditions. There are two types of annuity.
1) Immediate Annuity-In this case, you invest a lump sum in a product and your pension or annuity starts immediately. Let us say you have around Rs.1 Cr and if you buy immediate annuity plans, then the pension…