LIC Amulya Jeevan
This plan has been withdrawn by the insurance company and is no longer available for sale.
LIC Amulya Jeevan is a pure term insurance policy for high sum assured which is primarily for protection only. In this plan, if the Life Insured dies, the nominee will get the entire Sum assured but nothing is payable on maturity. This product is only for high sum assured requirements.
Key Features
Benefits
The entire Sum Assured is paid to the nominee on death of Life Insured during the policy tenure.
There is no benefit is payable on maturity as this is a pure protection plan.
Life insurance premiums paid up to Rs.1,50,000 are allowed as a deduction from the taxable income each year under section 80C. Maturity benefits too are tax exempt as per Section 10(10D).
No riders are available in this policy
How it works
The below illustration is for a healthy Male (non-tobacco user) opting for :
Sum Assured = Rs.50,00,000
Policy Term = 25 years
Premium values of LIC Amulya Jeevan I for various ages at which policy is bought
Eligibility
| Minimum | Maximum | |
| Sum Assured (in Rs.) | 25,00,000 | No Limit |
| Policy Term (in years) | 5 | 35 |
| Premium Payment Term (in years) | Single | Equal to policy term |
| Entry Age of Policyholder (in years) | 18 | 60 |
| Age at Maturity (in years) | - | 70 |
| Payment modes | Yearly & Half-Yearly and Single | |
FAQs
You stop paying the premiumIf the policy holder stops paying the life insurance premium, then all benefits of the policy will cease after the expiry of the grace period from the due date of the first unpaid premium. You can re-instate the policy within 5 years from the date of first unpaid premium by submitting the relevant proofs and payment of premium and interest.
You want to surrender the policySurrender benefits are not available under this term plan.
You want a loan against your policyThere is no loan facility under this policy.
