LIC Anmol Jeevan

LIC Anmol Jeevan Plan

LIC Anmol Jeevan is a pure term insurance policy which is primarily for protection only. In this plan, your nominee will get the entire Sum assured if death occurs within the policy term and nothing is payable on maturity. So if nothing happens to you till the maturity period of the plan, nothing will be returned.

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Key Features of LIC Anmol Jeevan 1

• Cheap plan which is for protection only with no maturity benefits.
• Hazardous occupation, physically handicapped people are also considered under this plan of protection with additional premium. Sub-standard lives are also considered.

Benefits you get from LIC Anmol Jeevan 1

Death Benefit – The entire Sum Assured is paid on death during the policy term.

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

Income Tax Benefit - Life Insurance premiums paid up to Rs.1,00,000 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)

Eligibility conditions and other restrictions in Anmol Jeevan 1 

Sample illustration of premium amount in LIC Anmol Jeevan 1

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

Sum Assured = Rs.10,00,000 and Policy Term = 25 years.

Sample Premium of LIC Anmol Jeevan I for various ages at which policy is bought

Additional Features and Benefits of Anmol Jeevan 1 from LIC

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 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.