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Home » Blog » Life Insurance » LIC Amulya Jeevan II plan 823

LIC Amulya Jeevan II plan 823

April 1, 2016 By policydunia

5/5 - (3 votes)

LIC Amulya Jeevan II plan 823

Policy Highlights

  • 1 Introduction on LIC Amulya Jeevan II Plan
  • 2 LIC Amulya Jeevan II Plan eligibility conditions
  • 3 Benefits of LIC Amulya II Jeevan
  • 4 Rebates in LIC Amulya Jeevan II
  • 5 Additional Information in LIC Amulya Jeevan II
  • 6 Documents Required for Claim under LIC Amulya Jeevan II
  • 7 Example on LIC Amulya Jeevan II
  • 8 Documents in LIC Amulya Jeevan II Plan 823
  • 9 About LIC Anmol Jeevan-II Policy
  • 10 About LIC e Term Policy

Introduction on LIC Amulya Jeevan II Plan

LIC Amulya Jeevan II Plan no 823 was introduced on 3rd February 2014. LIC Amulya Jeevan II Plan is a term insurance plan. LIC Amulya Jeevan II is a protection plan which provides financial protection to the insured’s family in case of life insured death during the term of policy.

LIC Amulya Jeevan II has no maturity benefits or no survival benefit. In LIC Amulya Jeevan II if the life insured survives the entire duration of the plan then nominee will not be entitled to anything, which means there is no maturity benefit with such policies.

LIC Amulya Jeevan II Plan eligibility conditions

Eligibility Condition Details
Age of Entry
  • Minimum – 18 years (Completed)
  • Maximum – 60 years (Nearest Birthday)
Sum Assured
  • Minimum – Rs 25 Lakhs
  • Maximum – No Limit
Policy Term
  • Minimum – 5 years
  • Maximum – 35 Years
Age at Maturity
  • Minimum –
  • Maximum – 70 Years
Premium Mode Yearly, Half Yearly
Loan Facility No loan will be granted
Surrender value No Surrender value
Paid up Value No Paid up value

Benefits of LIC Amulya II Jeevan

Death Benefit: In case of unfortunate death of the Life Assured during the policy term Sum Assured shall be payable.

Maturity Benefit: On survival to the end of the policy term, nothing shall be payable.

Rebates in LIC Amulya Jeevan II

Large Sum Assured Rebates: The reduction in tabular premiums for different Sum Assured ranges are given below:

Sum Assured Regular Premium Single premium
Up to Rs.99 lakh – –
Rs.1 Crore and above – Rs.0.50 %o SA

MODE EXTRA : 2.00% of tabular annual premium for half-yearly mode.

Additional Information in LIC Amulya Jeevan II

Riders: No riders are available under this plan.

Policy Revival: Policy can be revived within a period of 2 consecutive years from the date of first unpaid premium but before the expiry of policy term, by paying all the arrears of premium together with interest.

Suicide Clause: If insured commit suicide before 12 months of commencement of risk, an amount equal to 80% of the premiums paid till the date of death will be paid.

Service Tax: 12% service tax is applicable. For more information regarding Income Tax Benefits, visit www.taxqueries.in.

Cooling-off Period: The policy can be returned within 15 days from the date of receipt of the policy, if a policyholder is not satisfied with the ‘Terms and Conditions” of the policy.

Backdating interest: The policies can be dated back within the same financial year.

Assignments/Nominations: Assignment and nominations is possible under this plan.

Payment of Claims: No claim concession and extended claim concession will be applicable under this plan.

Documents Required for Claim under LIC Amulya Jeevan II

  1. Duly filled claim form.
  2. Original Policy document.
  3. Identification Proof.
  4. Death Proof.
  5. Medical treatment document prior to death.
  6. Age proof.

Example on LIC Amulya Jeevan II

MR. Naveen has taken LIC Amulya Jeevan II policy at the age of 25 years for a term of 20 years.

Sum Assured : Rs 30,00,000/-

Solution:

Premium without tax Tax with tax
Yearly Premium 3810 471 4281
Half-Yearly Premium 1943 240 2183

Maturity And Death Benefits

Natural/Accident Death Benefit 3,000,000
Maturity Benefit 0

Documents in LIC Amulya Jeevan II Plan 823

lic-amulya-jeevan-circular-pdf

About LIC Anmol Jeevan-II Policy

About LIC e Term Policy

Filed Under: Lic Term Insurance, Life Insurance, Life Insurance Corporation of India

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