LIC Amulya Jeevan 2 (823)- A pure Term Insurance
Amulya Jeevan II, is a pure term insurance policy of LIC, which provides high life cover in case of unfortunate death of policy holder during policy term. This plan does not provide any maturity value. Amulya Jeevan II plan provides high life cover in case of death on very low premium, so it can be a must have insurance plan for adequate financial security of family and loved ones.
Key Features
- High Life Cover on low premium
- Premiums paid are eligible for tax rebate under 80(C)
- No Maturity or survival benefit
Plan Parameters
| Age of Entry | 18 to 60 Years Calculate your Age |
|---|---|
| Premium Paying Mode | Half yearly & Yearly Calculate Premium |
| Policy Term | 5 to 35 years |
| Sum Assured | 25,00,000 and above (in multiples of 1,00,000) |
| Loan | Not Applicable |
| Surrender | No Surrender Amount |
| Revival | Within 2 Years |
Death benefit
- Amount equal to sum assured will be paid to nominee on death of policy holder during policy term.
Maturity benefit
- On survival of policy holder, nothing will be paid.
Amulya Jeevan 2 with Example
LIC's Amulya Jeevan II is a term plan, which provides life cover in case of death of policy holder, Lets take an example of a person who is purchasing Amulya Jeevan II with following details. Sum Assured: Rs. 50,00,000 Policy Term: 25 Years Policy Purchase Year: 2015 Age: 30 Years Yearly Premium: Rs. 11,172 Calculate Premium
On Survival, i.e. completion of 25 year, the policy will terminate and nothing will be paid as maturity amount.
But in case of unfortunate death during policy term, 50,00,000 will be paid to policy holder's nominee. Following table indicates total premium paid and amount payable to nominee if death happens at 10th year of policy.
| Policy Year | Year | Premium Paid(Rs. 11011 yearly) | Amount Payable to Nominee |
|---|---|---|---|
| 1 | 2016 | 11011 | 0 |
| 2 | 2017 | 22022 | 0 |
| 3 | 2018 | 33033 | 0 |
| 4 | 2019 | 44044 | 0 |
| 5 | 2020 | 55055 | 0 |
| 6 | 2021 | 66066 | 0 |
| 7 | 2022 | 77077 | 0 |
| 8 | 2023 | 88088 | 0 |
| 9 | 2024 | 99099 | 0 |
| 10 | 2025 | 110110 | 5000000 |
Above example explains the various aspects & benefits of Amulya Jeevan 2 policy and this plan is recommended for almost every one who wants to provide sufficient amount to his/her family in case of unfortunate death.
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