Formula
Y = a × Q / 1000
Half-yearly = 0.98 × Y / 2
Quarterly = 0.97 × Y / 4
Monthly = 0.96 × Y / 12
where
- Y
- yearly annuity
- a
- annuity rate, ₹ a year per ₹1,000 of purchase price, for your age, annuity option and deferment period
- Q
- purchase price
The more often the annuity is paid, the smaller each instalment is against a straight share of the yearly amount.
In short (tl;dr)
Jeevan Dhara II is a deferred annuity. Entry starts at age 20 and the deferment period runs up to fifteen years.
What is LIC Jeevan Dhara II?
Jeevan Dhara II (Plan 872) is a non-linked, non-participating deferred annuity. The entry age starts at 20 — far younger than LIC's other pension products — which lets someone build a guaranteed retirement income decades in advance.
Deferment runs from 5 to 15 years, and the annuity rate is guaranteed at inception. The plan offers both single life and joint life options, with and without return of purchase price, and pays higher rates to people with disabilities under its incentivised rate structure.
Its deferment ran far longer than New Jeevan Shanti's five years, which made it the plan for a retirement date a long way off. LIC withdrew it in 2024-25, so it cannot be bought new; this page is for anyone already holding a policy. New Jeevan Shanti, at up to five years, is now the longest deferment LIC sells.
Key features
- Entry age from 20 years — the youngest of LIC's annuity plans
- Deferment period of 5 to 15 years
- Single life and joint life options, with or without return of purchase price
- Annuity rate guaranteed from inception
- Higher annuity rates available for people with disabilities
Jeevan Dhara II at a glance
- Plan number
- 872
- Category
- Pension & Annuity
- Entry age
- 20 to 65 years
- Minimum purchase price
- ₹1,00,000
- Maximum maturity age
- 100 years
- UIN
- 512N364V01
We checked the plan number and UIN above against LIC's own page for this plan on 2026-09-07. Check it on licindia.in
What are the benefits of LIC Jeevan Dhara II?
What does LIC Jeevan Dhara II pay on death?
Under the return of purchase price options, the purchase price plus accrued additions is paid to the nominee. Under the life-only options nothing is payable after the annuity has commenced.
What do you get at vesting?
None. The annuity vests at the end of the deferment and continues for life.
Who is LIC Jeevan Dhara II for?
Someone in their thirties or forties who wants to lock a pension rate decades ahead of retirement.
What should you watch out for?
Locking a rate for fifteen years cuts both ways. If rates rise, you are stuck with today's. Consider staggering purchases across several years rather than committing everything at once.
Who can take LIC Jeevan Dhara II?
Age to buy the annuity
- Minimum
- 20 years
- Maximum
- 65 years
Deferment period
- Minimum
- 5 years
- Maximum
- 15 years
The pension starts when this period ends, so your age plus the deferment is the age it begins.
Purchase price
- Minimum
- ₹1,00,000
- Maximum
- No limit set by LIC
LIC caps this by what underwriting allows rather than with a printed figure. This calculator accepts up to ₹5 Crore.
The calculator applies every limit above. LIC sets them out under "Eligibility Conditions and Other Restrictions" on page 3 of the Jeevan Dhara II sales brochure, linked in the form above.
How this calculator works
Jeevan Dhara II is priced here on its own parameters, not a generic formula. We build the plan's full cash-flow schedule, meaning the death benefit in each policy year, every survival payout and the maturity value, then discount it on a basis calibrated to a reference premium for this plan. That reference is checked two ways: against LIC's published tabular rate, and against the return the plan's own benefits imply for the policyholder.
- Reference premium
- Published annuity rates at age 50
- Discount basis
- Solved separately for each annuity option, on LIC (2012-14) Ultimate mortality, to reproduce that option's own published rate at age 50
- GST
- Nil. Individual life insurance premiums have been exempt from GST since 22 September 2025, so the instalments shown are what you actually pay.
Bonus rates are declared annually and are not guaranteed; only the sum assured and any contractual guaranteed additions are. Read our editorial and methodology policyfor the full basis, and confirm every figure with LIC before you buy.
Check the source:Jeevan Dhara II on licindia.inLIC valuation and bonus declarationsIRDAI regulations
How LIC Jeevan Dhara II compares
The plans people weigh this one against, and what separates each from it.
| Plan | Policy term | You pay for | Cover from | What is different |
|---|---|---|---|---|
| Jeevan Dhara IINo. 872 · this page | Not applicable | One premium | ₹1 Lakh | A deferred annuity with regular or single premiums and eleven payout options. |
| New Jeevan ShantiNo. 758 | Not applicable | One premium | ₹1.5 Lakh | Buy the pension now, start drawing it up to five years later at a locked-in rate. |
| Jeevan Akshay-VIINo. 857 | Not applicable | One premium | ₹1 Lakh | Hand over a lump sum, start drawing a guaranteed income immediately, for life. |
| Smart PensionNo. 879 | Not applicable | One premium | ₹1 Lakh | LIC's newest immediate annuity, with liquidity features the older plans lack. |
| Jeevan UmangNo. 745 | 30 to 100 years | 15, 20, 25, 30 years | ₹2 Lakh | 8% of the sum assured every year for life once premiums finish, and cover to age 100. |
To price several of these against each other on the same age and sum assured, the LIC premium calculator runs every plan on the site through the same engine and puts the answers in one table.
LIC Jeevan Dhara II: frequently asked questions
What is the minimum entry age for Jeevan Dhara II?
20 years, which is the lowest of any LIC annuity plan. The maximum is 65.
What deferment periods does Jeevan Dhara II allow?
5 to 15 years, longer than New Jeevan Shanti's maximum of 5. The plan has been withdrawn, so this matters only to existing policyholders; no LIC annuity on sale now defers beyond 5 years.
Does Jeevan Dhara II offer higher rates for people with disabilities?
Yes. The plan includes an incentivised annuity rate structure for annuitants who are persons with a benchmark disability, subject to the documentation LIC specifies.
Spot something wrong?
If a figure on this page disagrees with an LIC premium notice, bonus statement or benefit illustration, tell us and we will check it against the brochure. Anything else you think this page gets wrong is just as welcome.
Related calculators
Plans people usually weigh up against Jeevan Dhara II before deciding.
New Jeevan Shanti
No. 758Buy the pension now, start drawing it up to five years later at a locked-in rate.
Open calculatorJeevan Akshay-VII
No. 857Hand over a lump sum, start drawing a guaranteed income immediately, for life.
Open calculatorSmart Pension
No. 879LIC's newest immediate annuity, with liquidity features the older plans lack.
Open calculatorJeevan Umang
No. 7458% of the sum assured every year for life once premiums finish, and cover to age 100.
Open calculator