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.

LIC Amulya Jeevan II
LIC Amulya Jeevan II

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

AgeMin. age :  18 years (completed)

Max. age:  60 years (nearest birthday)

Policy TermMin. Policy Term:  5 years.

Max. Policy Term:  35 years.


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

Sum AssuredMin. 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

YearAgeRisk Cover NormalPremiumTax SavedNet Premium
201630500000015572408011492
201731500000015572408011492
201832500000015572408011492
201933500000015572408011492
202034500000015572408011492
202135500000015572408011492
202236500000015572408011492
202337500000015572408011492
202438500000015572408011492
202539500000015572408011492
202640500000015572408011492
202741500000015572408011492
202842500000015572408011492
202943500000015572408011492
203044500000015572408011492
203145500000015572408011492
203246500000015572408011492
203347500000015572408011492
203448500000015572408011492
203549500000015572408011492
203650500000015572408011492
203751500000015572408011492
203852500000015572408011492
203953500000015572408011492
204054500000015572408011492
204155500000015572408011492
204256500000015572408011492
204357500000015572408011492
204458500000015572408011492
204559500000015572408011492
204660500000015572408011492
204761500000015572408011492
204862500000015572408011492
204963500000015572408011492
205064500000015572408011492
2051650000

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.

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

Email-basupancholi@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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