LIC New Jeevan Dhara
LIC New Jeevan Dhara plan is a deferred annuity plan which allows a provision for the regular income for the policy holder after a selected term. There is a premium calculated for this policy depending on the basic amount paid by the policy holder. The premiums for this plan can be paid at the intervals of yearly or half – yearly or quarterly or monthly or by means of Salary deductions.
The payment mode under this LIC New Jeevan Dhara plan can be chosen (selected) by the policy holder either thro' out the term of the policy or till the earlier death. As an alternative to the above said intervals, the premium amount can also be paid in a single premium or as one lump sum amount.
Under the section 80 CCC, tax relief is available on the payment of premiums under the New Jeevan Suraksha – I plan. The tax relief for the premiums that are paid on the New Jeevan Dhara - I is available under the Section 88.
The LIC New Jeevan Dhara is a with - profit plan and thus takes part under the profits provided by the corporation's annuity or pension business. The profits are shared in the form of the bonuses. Annually at the end of each financial year, reversionary bonus is declared for each thousand rupees of the sum assured.
This reversionary bonus is declared under the guaranteed benefits of this LIC New Jeevan Dhara plan. If the policy runs for a certain minimum period, final or additional bonuses may also be payable under this plan.
What are the benefits of this policy?
The benefits that comes under this plan includes the death benefit, the maturity benefit, the supplementary or the extra benefit, the surrender value, the guaranteed surrender value and the corporation's policy on surrenders.