LIC Amulya Jeevan II

LIC Amulya Jeevan II

LIC Amulya Jeevan II

LIC Amulya Jeevan II (lic table no 823) is a pure risk cover term plan of sum assured for Rs 25 lakhs and no limit, which can be opted primarily for protection.In LIC Amulya Jeevan II, the nominee will get the entire Sum assured if the life insured dies during the policy term.This plan also knows as LIC term insurance plan.

Key Features of LIC Amulya Jeevan II Policy

  • Pure term plan with only death benefit
  • Sum Assured of Rs.25 Lakhs or more can be opted
  • There is no maturity benefit in this plan
  • Tax benefits available U/S 80-c

LIC Term Plan Amulya Jeevan-II conditions

Age Min. age :  18 years (completed)

Max. age:  60 years (nearest birthday)

Policy Term Min. Policy Term:  5 years.

Max. Policy Term:  35 years.

Max. Risk Cover ceasing age: 70 years (nearest birthday)

Sum Assured Min. SUM ASSURED:  Rs. 25, 00, 000.

Max. SUM ASSURED: No limit.

Premium Paying Mode  Yearly, Half Yearly only.

Benefits of 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.

Maturity Benefit  No benefit is payable on maturity as this is a pure protection plan.

Income Tax Benefit 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.

Benefit Illustrations

An example of DEEPAK who is purchasing this Plan with following details.

Sum Assured: Rs.50,00,000
Policy Term: 35 Years
Policy Purchase Year: 2016
Age: 30 Years
Yearly Premium: Rs. 15572/-

Year-wise Death Claim

Year Age Risk Cover Normal Premium Tax Saved Net Premium
2016 30 5000000 15572 4080 11492
2017 31 5000000 15572 4080 11492
2018 32 5000000 15572 4080 11492
2019 33 5000000 15572 4080 11492
2020 34 5000000 15572 4080 11492
2021 35 5000000 15572 4080 11492
2022 36 5000000 15572 4080 11492
2023 37 5000000 15572 4080 11492
2024 38 5000000 15572 4080 11492
2025 39 5000000 15572 4080 11492
2026 40 5000000 15572 4080 11492
2027 41 5000000 15572 4080 11492
2028 42 5000000 15572 4080 11492
2029 43 5000000 15572 4080 11492
2030 44 5000000 15572 4080 11492
2031 45 5000000 15572 4080 11492
2032 46 5000000 15572 4080 11492
2033 47 5000000 15572 4080 11492
2034 48 5000000 15572 4080 11492
2035 49 5000000 15572 4080 11492
2036 50 5000000 15572 4080 11492
2037 51 5000000 15572 4080 11492
2038 52 5000000 15572 4080 11492
2039 53 5000000 15572 4080 11492
2040 54 5000000 15572 4080 11492
2041 55 5000000 15572 4080 11492
2042 56 5000000 15572 4080 11492
2043 57 5000000 15572 4080 11492
2044 58 5000000 15572 4080 11492
2045 59 5000000 15572 4080 11492
2046 60 5000000 15572 4080 11492
2047 61 5000000 15572 4080 11492
2048 62 5000000 15572 4080 11492
2049 63 5000000 15572 4080 11492
2050 64 5000000 15572 4080 11492
2051 65 0 0 0 0

If death happens during the policy term Before 35 years,Sum Assured Rs. 5000000/- will be paid to nominee and it is indicated as Normal Life Cover or accidental death.

Additional details of LIC Amulya Jeevan 823

  • Loan Facility: No loan is provided.
  • Riders: No riders are available under this policy.
  • Paid-up Value: Amulya Jeevan 2 will not acquire any paid-up value.
  • Surrender Value: No surrender value will be available under LIC term plan 823.
  • Policy Revival: Policy can be revived before 2 years from date of First Unpaid Premium.
  • Suicide Clause: if insured commit suicide before 12 months he will be returned back 80% of premium what he paid.
  • Proposal Forms: Proposal Form no. 300 will be used for this plan.
  • Cooling-off Period: If a policyholder is not satisfied with the Terms and Conditions of the policy, customer may return the policy within 15 days from the date of receipt of the policy.
  • Back-dating interest: The policies can be dated back within the same financial year.
  • Assignments/Nominations: Assignment and nominations is possible under this plan.

 LIC Amulya Jeevan Premium Calculator

Services that I offer

  • New LIC Policy Quotes and Completion
  • Complete guidance
  • Doorstep Premium Collection Service
  • Personalized Policy Recommendations
  • Renewal / Revival of Lapsed Policies
  • Human Life Value Calculation
  • Life Time Services

FOR MORE INFORMATION PLEASE CONTACT -:

BASPA NAND PANCHOLI

CON.9891009400

Emailbasupancholi@gmail.com

To know about LIC more Plans please visit our website

www.licbestplan.in

Office Address:-25,KG,Marg,Jeevan Prakash Building.

LIC of India,Branch Unit-117.

3rd floor,C.P. New Delhi-110001.


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