LIC Anmol Jeevan II

LIC Anmol Jeevan II in Hindi >

LIC Anmol Jeevan II - Table No. 822

LIC Anmol Jeevan II is a pure risk cover term plan for sum assured upto Rs. 24 lakhs. It is a pure protection plan with no maturity benefits. In case of death of the policyholder during the term of the policy, the nominee will get the Sum Assured as Death Benefit.
 

Launch Date	2nd January, 2014
Plan Details	Table No. 822
Policy Type	Term Insurance Plan

 

How does LIC Anmol Jeevan 2 Policy work?

When buying the Anmol Jeevan 2 Plan, the customer has to decide on the following:

1. Sum Assured - this is the amount of cover that you want. You can choose a minimum amount of Rs. 1,00,000. There is no upper limit.
2. Policy Term - this is the period for which you wish to have the cover. The term can be anywhere between 13 to 25 years

Based on the amount of cover, your age and the policy term selected, your annual premium will be decided.
 

Benefits in the LIC Jeevan Lakshya Plan

• Large cover at affordable premiums
• Life Cover between Rs. 6 to Rs. 24 Lakhs
• Death Benefit – The entire Sum Assured is paid to the nominee on death of the Life Insured during the policy term.
• Maturity Benefit – 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. Death Benefit is also tax free.

COMPARE THIS PLAN WITH OTHER TERM PLANS

Amount you wish to be covered for? 10 Lakhs 15 Lakhs 20 Lakhs 25 Lakhs 30 Lakhs 35 Lakhs 50 Lakhs 75 Lakhs 1 Crore 1.5 Crore 2 Crore 2.5 Crore 3 Crore 4 Crore 5 Crore 10 Crore 15 Crore 20 Crore 25 Crore

Duration of Policy? 5 Years 6 Years 7 Years 8 Years 9 Years 10 Years 11 Years 12 Years 13 Years 14 Years 15 Years 16 Years 17 Years 18 Years 19 Years 20 Years 21 Years 22 Years 23 Years 24 Years 25 Years 26 Years 27 Years 28 Years 29 Years 30 Years 31 Years 32 Years 33 Years 34 Years 35 Years 36 Years 37 Years 38 Years 39 Years 40 Years 41 Years 42 Years 43 Years 44 Years 45 Years 46 Years 47 Years 48 Years 49 Years 50 Years 51 Years 52 Years 53 Years 54 Years 55 Years 56 Years 57 Years 58 Years 59 Years 60 Years

Male Female

Tobacco?

Yes

No

I authorize MyInsuranceClub & its partners to Call/SMS & agree to the Terms of Use.

Show premiums

 

Eligibility Conditions in Anmol Jeevan 2 Policy

	Minimum	Maximum
Sum Assured	Rs. 6 lakhs	Rs. 24 lakhs
Policy Term	5 years	25 years
Premium Payment Term	Same as policy term
Age of Entry	18 years	55 years
Age at Maturity	-	65 years
Premium Payment Modes	Yearly and Half-yearly

 

Sample Premiums for LIC Anmol Jeevan 2 Plan

Suppose Lokesh Sharma who is 35 years old, healthy and does not consume tobacco takes this plan for policy term 25 years. He will have to pay the following premiums for a Rs. 10 lakhs cover.



Premiums shown in above graph are without taxes. Actual premiums may vary according to underwriting rules applicable. 

Understanding Anmol Jeevan 2 Plan with an Example

Suppose Lokesh Sharma purchased the plan with the following parameters:

His age when he purchased the plan = 35 years
Sum Assured = Rs. 24 lakhs
Policy Term = 25 years

Based on this, his annual premium would be Rs. 11,784 + Taxes. Currently the tax rates is 18%, hence the total annual premium is Rs. 13,905

At the beginning of each year, Lokesh has to pay the annual premium. So he will be eligible to this cover throughout the year. Again, he has to pay the premium at the start of each policy year for 25 years. 

In case of death of the policyholder at any point during the term of the policy, the nominee will get Rs. 24 lakhs as the Death Benefit.

There is no Maturity Benefit in this plan.

HAVE ANY DOUBTS THAT NEED TO BE CLARIFIED?

REQUEST A CALLBACK

 

Other Features of the LIC Anmol Jeevan Policy

• Free-look Period – If the policyholder is not happy with the plan, he can cancel the policy within 15 days of the plan issuance. This period is called the free-look period. Upon cancellation, the premium paid net of any applicable expenses would be returned.
• Grace Period - In case of Yearly, Half-yearly and Quarterly premium payment mode you have a grace period of 30 days from the premium due date. In case of monthly premium payment mode, the grace period is of 15 days. 
• Loan - No loan facility is available in this plan.
• Riders  - There are no Riders available with this plan.
• Surrender Value - This plan does not acquire any surrender value at any point of time.

If you have any questions on the LIC Anmol Jeevan 2 Policy, drop in a line in the comments and we will be happy to help out.