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Life Insurance Corporation of India

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    • Amulya Jeevan II (823)

LIC Amulya Jeevan II Plan (823)

June 30, 2018 By Ravi Shanker Leave a Comment

LIC Amulya Jeevan II Plan (823)

This is a regular premium, without profits, Pure Protection Plan.

DEATH BENEFIT:
Sum Assured only.

MATURITY BENEFIT:
No benefits are payable.

Example*:

Age- 35, S.A.- `25,00,000, Term – 25 years, Basic Yly Premium: `7100

Entry Age 35

In case of Death at Age 40

Death Benefit = `25,00,000

Maturity at Age 60

Maturity Benefit = No benefits are payable

Features & Conditions:

Minimum age at entry : 18 years lbd
Maximum age at entry : 60 years nbd
Max. cover ceasing age : 70 years nbd
Minimum term : 5 years
Maximum term : 35 years
Minimum S.A. : `25,00,000 & in multiples of ` 1,00,000 thereafter.
Maximum S.A. : No Limit
Available Riders: Nil
Mode of Payment: Yearly and Half Yearly only.

Policy Loan: Not Available

Grace Period:
One calendar month, Min 30 days.

Revivals:
Between 31 to 60 days of FUP: Premium with Interest only.
From 61 days to 2 years of FUP: Premiums with interest + DGH+ Medicals as per underwriting rules.

Back Dating: Allowed without charging any interest.
Proposal Form: 300 or 340.

Service Tax: 15% throughout the policy term.

Tax Benefits:
On Basic Premiums : u/s 80C
Death claim : u/s 10(10D)

Filed Under: LIC, Term Insurance

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