LIC New Jeevan Dhara-II is an option for people planning for regular income after retirement.

LIC Pension Plan 2026: One of the biggest concerns after retiring from a job or business is regular income. While a monthly salary during working life easily supports household expenses, having a stable source of income after retirement becomes crucial. Keeping this need in mind, the Life Insurance Corporation of India (LIC)'s New Jeevan Dhara-II plan offers the option of regular income for retirement.

LIC's promotional message states that retirement is a new chapter in life, and the assurance of regular income can make it more comfortable. According to the company, New Jeevan Dhara-II aims to help people become more financially independent after retirement.

This is a deferred annuity plan, in which arrangements are made to receive regular pension in future as per the prescribed conditions.

What is LIC New Jeevan Dhara-II Plan?

LIC New Jeevan Dhara-II is an individual pension plan designed keeping in mind the need for regular income after retirement.

In this type of plan, the policyholder pays the prescribed premium and starts receiving pension after the completion of the chosen moratorium period.

The main objective of the scheme is to provide a fixed source of income after retirement.

In this, the pension amount is decided based on the annuity rates applicable at the time of purchasing the policy, the premium amount paid, the option chosen and other conditions.

How to get regular pension after retirement?

Under New Jeevan Dhara-II, the policyholder must wait a certain period before receiving their pension. This is called the deferment period.

After completion of this period, annuity payments start as per the option chosen.

Pension can be paid at monthly, quarterly, half-yearly or yearly intervals as per the options available and policy terms.

This allows the policyholder to plan for income that matches his or her retirement expenses.

However, the actual pension amount may vary from person to person.

LIC introduces new pension plan in October 2026

According to official information from LIC, the plan number for New Jeevan Dhara-II is 892 and the UIN is 512N398V01. This plan is available from October 19, 2026.

The company had announced the launch of this plan on October 13, 2026. This is a different product from the old Jeevan Dhara-II plan launched in 2024.

Key Benefits of LIC New Jeevan Dhara-II

The most important feature of this scheme is the provision of regular income after retirement.

According to LIC's official product description, the plan offers guaranteed annuity rates. This means that fixed pension payments can be planned in advance, as per the policy terms.

Such an arrangement can be useful for those who want regular cash flow for their monthly needs after retirement.

However, a guaranteed pension does not necessarily mean that the pension amount will increase annually in line with inflation. It is important to review the terms of the annuity option chosen.

How much pension will you get every month?

The actual amount of pension received under New Jeevan Dhara-II depends on many factors.

These may include the policyholder's age, investment amount, pension commencement date and the annuity option chosen.

For example, if a person wants a pension of ₹10,000 per month after retirement, then the amount of premium he needs to deposit will be known from the official calculation of LIC only.

It would not be appropriate to claim any fixed monthly pension based only on the investment amount.

Therefore, one should obtain the individual benefit illustration from LIC before purchasing the plan.

Can the family also get the benefit?

While choosing a pension plan, it is important to know what benefits the family will get after the death of the policyholder.

In annuity plans, the death benefit and the continuation of pension to the other person may vary depending on the option chosen.

Therefore, before purchasing New Jeevan Dhara-II, one should check what amount the nominee will receive in the respective option and whether there is a provision for continuation of pension for the spouse.

All these conditions should be confirmed from the official policy document of the scheme.

What things should be kept in mind while planning for retirement?

It is not enough to consider only regular income while choosing a pension plan for retirement.

Rising inflation, health expenses, family needs and emergency savings are also important.

If a person receives a fixed amount every month, but his expenses are continuously increasing, then the actual purchasing power of that income may decrease in the future.

Therefore, along with the pension plan, one should also consider having adequate emergency funds and other savings options.

Before purchasing a policy, it is important to understand the premium payment, surrender, loan, death benefit, tax treatment and pension commencement conditions.

Where can I get information about LIC New Jeevan Dhara-II?

Interested customers can get information about the scheme by visiting the official website of LIC licindia.in.

LIC has made available the sales brochure, policy documents, and customer information sheet for New Jeevan Dhara II. Details about eligibility, premiums, benefits, and other terms and conditions of the plan can be found in these.

Conclusion: LIC New Jeevan Dhara-II is an option for those planning to earn regular income after retirement. Available in October 2026, this plan focuses on guaranteed annuity income. However, before investing, it's important to understand the actual pension amount, eligibility, payout period, and family benefits.

Disclaimer: This article is based on LIC promotional materials and official information. Before investing in any pension or insurance plan, carefully read the policy document and applicable terms and conditions.