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LIC Amulya Jeevan II

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LIC Amulya Jeevan II Plan

LIC Amulya Jeevan II is a pure risk cover term plan from LIC of India of Sum Assured for Rs 25 lakhs and more, which can be opted primarily for protection. In this plan, the nominee will get the entire Sum assured if the life insured dies during the policy term. This policy cannot be purchased online. LIC Amulya Jeevan II is a regular premium non-participating term plan. 

 

Key Features of LIC Amulya Jeevan II Policy

  • Pure term plan which offers death benefit only
  • Sum Assured of Rs.25 Lakhs or more can be opted
  • There is no maturity benefit in this plan
  • Tax benefits available under Sec 80C and 10(10D)
COMPARE THIS PLAN WITH OTHER TERM PLANS
Yes
No

 

 Benefits you get from LIC Amulya Jeevan II Insurance Plan

  • Death Benefit – The entire Sum Assured is paid to the nominee on death of the Life Insured during the policy term. There is no deduction of tax or any charges and the entire sum assured is credited directly to the bank account of the nominee. 
  • Maturity Benefit – There is no benefit payable on maturity in LIC Amulya Jeevan II 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. Death Benefit is also tax free.

 

HAVE ANY DOUBTS THAT NEED TO BE CLARIFIED?

 

 Eligibility conditions and other restrictions in LIC Amulya Jeevan II Insurance Policy

 

Minimum

Maximum

Sum Assured (in Rs.)

25,00,000

No Limit

Policy Term (in years)

5

35

Premium Payment Term (in years)

Equal to policy tenure

Entry Age of Insured (in Rs.)

18

60

Age at Maturity(in Rs.)

-

70

Payment modes

Yearly and Half-Yearly

 

 

Sample illustration of Premium in LIC Amulya Jeevan II Plan

The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured=Rs.50,00,000 and Policy Term = 25 years.

LIC Amulya Jeevan II Sample Premiums 

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

 

Additional Features and Benefits of LIC Amulya Jeevan II Plan

Riders – No riders are available in this policy

 

What happens if?

You stop paying the premium- If the policy holder stops paying the 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 2 years from the due date of the first unpaid premium but before the policy expires by submitting the relevant proofs and payment of premium and interest.

You want to surrender the policy–There are no surrender benefits under this term plan.

You want a loan against your policy – Loan facility is not available under this policy.

 

Other Term Plans from Life Insurance Corporation of India

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LIC Anmol Jeevan II

  

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