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LIC Amulya Jeevan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

LIC Amulya Jeevan 1 Plan

LIC Amulya Jeevan is a pure term insurance policy for high sum assured which is primarily for protection only. In this plan, if the Life Insured dies, the nominee will get the entire Sum assured but nothing is payable on maturity. This product is only for high sum assured requirements.

 

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Key Features of LIC Amulya Jeevan 1 Policy

  • Low cost risk plan for high sum assured
  • Large sum assured rebate that is provided for single premium policies.
  • High tenure of 35 years available


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Benefits you get from LIC Amulya Jeevan 1

Death Benefit – The entire Sum Assured is paid to the nominee on death of Life Insured during the policy tenure.

Maturity Benefit – There is no benefit is payable on maturity as this is a pure protection plan.

Income Tax Benefit - Life insurance premiums paid up to Rs.1,50,000 are allowed as a deduction from the taxable income each year under section 80C. Maturity benefits too are tax exempt as per Section 10(10D).

 

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Eligibility conditions and other restrictions in LIC Amulya Jeevan 1 Policy

 

Minimum

Maximum

Sum Assured (in Rs.)

25,00,000

No Limit

Policy Term (in years)

5

35

Premium Payment Term (in years)

Single

Equal to policy term

Entry Age of Policyholder (in years)

18

60

Age at Maturity (in years)

-

70

Payment modes

Yearly & Half-Yearly and Single

 

Sample illustration of premium amount in LIC Amulya Jeevan 1

The below illustration is for a healthy Male (non-tobacco user) opting for : 

Sum Assured = Rs.50,00,000 

Policy Term = 25 years

Premium values of LIC Amulya Jeevan I for various ages at which policy is bought

 LIC Amulya Jeevan Term Insurance Plan

 

Additional Features and Benefits of LIC Amulya Jeevan 1 

Riders – No riders are available in this policy

 

What happens if?

You stop paying the premium - If the policy holder stops paying the life insurance premium, then all benefits of the policy will cease after the expiry of the grace period from the due date of the first unpaid premium. You can re-instate the policy within 5 years from the date of first unpaid premium by submitting the relevant proofs and payment of premium and interest.

You want to surrender the policy – Surrender benefits are not available under this term plan.

You want a loan against your policy – There is no loan facility under this policy.


 

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