LIC’s Amulya Jeevan II Plan is a well known term plan. When it comes to offering bonuses, no pure term insurance plan offers additional bonus facilities to the policyholder. Moreover, if the insured dies within the tenure of the policy, then the nominee gets to receive the death benefits. However, nothing is payable to the policyholder when the policy reaches the maturity age.
|
Minimum |
Maximum |
Entry Age (Last Birthday) |
18 years |
60 years |
Maturity Age (Last Birthday) |
- |
70 years |
Policy Term (PT) in years |
5 years |
35 years |
Premium Paying Term (PPT) in years |
Equal to Policy Tenure |
|
Premium Paying Frequency |
Annual, half-yearly |
|
Sum Assured |
Rs 25 Lacs |
No Limit |
Annual premium in Rupees for a Policy Tenure of 15 years. Basic Premium is mentioned below (Tax not included)
Age |
Rs 50 Lacs Sum Assured |
Rs 1CR Lacs Sum Assured |
30 Years |
7100 |
14200 |
40 Years |
14850 |
29700 |
50 Years |
34450 |
68900 |
In cases the policyholder commits suicide within 12 months of taking the policy, only 80 % of the premium that the policyholder pays is returned to the nominee. However, if the insured commits suicide within 12 months of revival, then higher of surrender value or 80% of premiums is paid by the insured.
To take the policy, you need to submit documents that can attest your existence such as address proof along with your complete medical history. Further, you might have to go for a medical examination depending on your age or the sum you need to assure.
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