Everyone is worried about their future. And why not? But plan for tomorrow from today and protect old age in every respect. To avoid the financial crisis in old age, many people invest in all schemes. We are telling you about a scheme of India’s largest government company Life Insurance Corporation of India which will definitely become the support of sticks in old age.
The Life Insurance Corporation of India (LIC) has introduced the second edition of its highly discussed retirement insurance scheme, Jeevan Dhara. LIC Jeevan Section-2 is a guaranteed income annuity plan. This initiative was initiated on January 22 of the previous month. LIC Jeevan Section-2 is an annuity scheme that is non-linked and non-participating. It can be invested either online or offline.
LIC Jeevandhara-2 scheme
The least age to invest in the LIC Jeevandhara-2 plan is 20 years. The upper age limit is determined based on the annuity. The upper age limit may reach 65, 70, or 80 years based on the annuity. LIC is providing 11 choices of annuity with this plan. The key aspect of LIC Jeevandhara-2 is its guarantee of annuity. LIC Jeevandhara 2 pension scheme offers numerous advantages. According to Section 88 of the Income Tax Act, the LIC Jeevan Dhara scheme qualifies for tax advantages.
What is an Annuity?
An annuity is a component of insurance. Within an annuity, a contract exists between the insurance provider and the policyholder. According to the agreement, the insured puts a one-time payment into the company. In the future, it is disbursed to the insured as monthly, quarterly, or yearly payments. Annuity is primarily utilized for retirement purposes. While the insured remains alive, he will receive a set amount. Following his passing, the leftover sum is transferred to his beneficiaries.
