LIC Amulya Jeevan II Plan

• Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
• Claim up to Rs. 1,50,000 deduction under section 80C**
• Choose between annual and monthly premium payment options

LIC's Amulya Jeevan II Plan is a pure term protection plan that offers financial protection to the family of the policyholder in the event of his/her unfortunate death. The plan offers higher value life cover at an affordable premium. This plan doesn't provide any maturity or survival benefit since it is designed to provide life cover only.

Eligibility - Who is the LIC's Amulya Jeevan II Plan for?

The LIC's Amulya Jeevan II Plan is suitable for individuals who wish to provide a high-value financial protection to their family at a low premium. In order to buy the LIC's Amulya Jeevan II Plan, the customer must meet the following eligibility criteria:

The age is based on the last birthday of the individual.

Sum Assured and Premium Range- What You Get and What It Costs

• Sum assured – In the event of policyholder's unfortunate death during the policy term, an amount equal to the sum assured will be payable to the life insured's nominee/family. The plan offers a minimum sum assured of Rs.25,00,000 while there is no limit on the maximum sum assured.
• Premium – Based on the sum assured chosen at the inception of the policy, the policyholder can choose to pay the premium in half-yearly and yearly intervals. This plan can be purchased at low premium for a policy term of 5 - 35 years.

Plan Coverage- What the LIC's Amulya Jeevan II Plan covers

Riders / Add-On Plans – Additional coverage under the LIC's Amulya Jeevan II Plan

There is no add-on or rider available for LIC's Amulya Jeevan II Plan.

Exclusions - What the LIC's Amulya Jeevan II Plan doesn’t cover

Suicide exclusion – This policy will be considered as void if the policyholder, whether sane or insane, commits suicide within the first 12 months of the policy term. In this case, an amount equal to 80% of the premiums paid till the date of death (after the deduction of necessary charges) will be payable to the beneficiary.

Other Key Features – Free-look Period, Surrender Values, Grace Period etc.

Tax benefits – How you can save with the LIC's Amulya Jeevan II Plan?

Under the LIC's Amulya Jeevan II Plan, the policyholder can take advantage of the tax benefits provided under the Section 80C and Section 10(10D) of the Income Tax Act,1961. The tax benefits are based on the latest tax rules and regulations that are subject to change. Customers are advised to speak with a qualified tax advisor before buying the plan.

Other benefits – How you can save with the LIC's Amulya Jeevan II Plan

The LIC's Amulya Jeevan II Plan is exclusively designed to offer a high-value death sum assured for a low premium. The plan doesn't acquire any surrender value and it doesn't offer any maturity or surrender value, however, the following features and benefits can be considered for making effective policy purchase decision:

• Policy information - Any customer or individual can contact Life Insurance Corporation Insurance Company through a wide range of communication methods to acquire more information on the policy. The insurer is reachable through telephone, e-mail, website, and branches.
• Policy notifications - The policy notification pertaining to important events such as premium due date, policy renewal date, etc. are communicated to the policyholder through email and text SMS.

Why you should buy the LIC's Amulya Jeevan II Plan from LIC Insurance Company?

The high-value life cover under the LIC's Amulya Jeevan II Plan protects the family of the policyholder from financial uncertainties in the event of the life insured's unfortunate death. The death benefit under this plan equals to the sum assured chosen at the inception of the policy. The low premium plan doesn't offer any maturity benefit, survival benefit, or surrender value, however, the high life cover value is available at a low premium that can be paid in yearly or half-yearly intervals.

LIC Insurance Company is the largest insurance provider in India who offers a wide variety of insurance plans for individuals from all age group and stages of life. The company has an excellent claim settlement ratio and the customer service team is powered by knowledgeable and trained advisors to resolve the customer's queries/grievance to the highest standards. The insurer has won many awards for achieving operational excellence and customer satisfaction in the past years. The company can be contacted through multiple communication methods such as telephone, email, letter, website, and through a visit to the branch.