LIC has introduced Jeevan Dhara II, a non-participating plan designed to provide life cover during deferment, along with higher annuity rates that increase with age.
Presented by LIC Chairman Siddhartha Mohanty, the new Jeevan Dhara II plan offers a non-participating, individual savings, deferred annuity option. It features life cover during the deferment period and offers higher annuity rates as individuals age.
Key Features
- Introduced as a Non-Participating Plan, the newly launched plan offers policyholders unique benefits.
- Jeevan Dhara II provides life cover during the deferment period, enhancing the financial security of policyholders.
- Policyholders can benefit from higher annuity rates as they age, ensuring a secure and stable income stream in later years.
- Prospective policyholders can enjoy the assurance of a guaranteed annuity right from the inception of the plan.
- With a choice of 11 annuity options available, individuals can select the one that best suits their financial goals and preferences.
- The plan offers a flexible entry age, allowing individuals as young as 20 years old to participate.
- Policyholders have the option to avail a loan facility during or after the deferment period, particularly under annuity options with a return of premium/purchase price.
Availability
The Jeevan Dhara II plan is scheduled to be available for purchase starting January 22, presenting individuals with a valuable opportunity to safeguard their financial future with this individual, savings-focused deferred annuity plan.
‘Money2India (Canada)’ Mobile Banking App
ICICI Bank Canada has launched the ‘Money2India (Canada)’ app, enabling 24/7 money transfers from any Canadian bank to India without requiring an ICICI Bank Canada account.
ICICI Bank Canada, a wholly-owned subsidiary of ICICI Bank Limited, has unveiled its newest mobile banking app, ‘Money2India (Canada),’ offering Canadian customers a seamless platform for round-the-clock fund transfers to any Indian bank. Importantly, customers can utilize this service without the requirement of opening an account with ICICI Bank Canada.
Benefits of Money2India (Canada) App
- User-Friendly Interface: The app boasts a user-friendly interface accessible to customers across Canadian banks, facilitating instant and round-the-clock money transfers to any bank in India.
- Enhanced Transaction Limit: Users have the flexibility to send amounts of up to CAD 30,000 in a single transaction, catering to various transaction needs.
- Simplified Cross-Border Transactions: The app streamlines cross-border transactions, offering convenience without requiring account opening, particularly with ICICI Bank Canada.
- Wide Accessibility: Customers of any bank in Canada can utilize the app, leveraging their Visa or Mastercard debit cards for instant money transfers to India.
- Future-Dated and Recurring Transfer Options: ICICI Bank customers can set up future-dated and recurring transfers to beneficiaries in India at a defined frequency, providing additional flexibility in managing fund transfers.
Security Features of Money2India App
The app prioritizes safety and security by adhering to the latest standards prescribed for digital channels. This includes implementing two-factor authentication with a dynamic One-Time-Password (OTP) to enhance security measures.
Add-Ons to the Pre-existing Features
- Instant Beneficiary Addition: The app enables users to swiftly add beneficiaries and conduct instant money transfers to them.
- Future-Dated/Recurring Transfers: ICICI Bank Canada customers can utilize the platform for future-dated or recurring transfers, accommodating various needs and preferences.
Steps to Send Money From ‘Money2India (Canada)’ App
- Step 1: Download ‘Money2India (Canada)’ app through Play Store or App Store.
- Step 2: Sign up (new customers) or Login (existing customers of ICICI Bank Canada).
- Step 3: Add a beneficiary instantly and enter a request to send money to India.
- Step 4: Review the request and confirm OTP. The amount will be sent to the beneficiary’s account.
