LIC Amulya Jeevan 2 Plan No. 823 - Term Plan

LIC Amulya Jeevan 2 Plan No. 823 is a Pure Term Insurance Plan consists of Death Benefit & Maturity Benefit. LIC Amulya Jeevan 2 plan 823 is a protection plan which provides financial protection to the insured’s family in case of death of life insured during the policy term. In case of any unfortunate death of the policyholder during the policy term, the Sum Assured is paid to nominee. As the name suggests, this is a high value plan where the minimum benefit value is 25 lakh INR. The uniqueness of the LIC Term Plan is that a policy member could obtain high value fiscal support for the family member against very low premium payments. LIC released “Amulya Jeevan Plan 2 (Table 823)” on 3rd February 2014 as per new guidelines of IRDA.



LIC Amulya Jeevan 2 Plan No. 823

General Information of LIC Amulya Jeevan 2 plan 823

A. In Amulya Jeevan Plan 823 introduced by LIC, Service tax is added which is 14.5%. Amulya Jeevan II is a pure Term Insurance Plan.

B. This plan has no maturity benefits or no survival benefit.
C. Anmol Jeevan lic policy has the only death benefit. LIC Term Plan Amulya Jeevan 2 covers for the limited period, i.e. maximum up to 35 years from the date of commencement of policy.
D. Premium amount of LIC Amulya Jeevan Plan is very less i.e. 2 - 3 rupees for 30 years aged person for 1000 rupees risk coverage.
E. Amulya Jeevan 2 is a regular premium paying conventional plan without any profit. It is a pure protection plan provided by LIC of India.

Benefits Of Amulya Jeevan 2 Plan 823

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.

Eligibility Conditions and Restrictions

*Min Age at entry – 18 years (Completed)
*Max Age at entry – 60 years (Nearest Birthday)
*Age at Maturity – Maximum 75 Years
*Min Policy Term – 5 years
*Max Policy Term – 35 Years
*Premium mode – Yearly, Half-yearly
*Minimum Sum Assured – 25,00,000 (25 Lacs)
*Maximum Sum Assured – No limit
*Maximum insurance cover age limit – 70 years (nearest birthday) Sum assured will be multiple of 1,00,000
*Grace period will be not more than 30 days
*Loan – NO Loan will be granted
*Surrender Value– No surrender value
*Paid up value – No paid up value

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Ravindra Yadav