LIC Amulya Jeevan II Plan – Term protection plans help in safeguarding your family’s monetary security. These plans pay a singular amount advantage to the family on the demise of the safeguarded and the charges are extremely low. Accordingly, they help in trading the pay for the family which is lost on the demise of the provider. LIC Amulya Jeevan II is such an insurance plan which gives unequaled security to you and your loved ones. Amulya Jeevan II, is an unadulterated term insurance contract of LIC, which gives extravagance and comfort cover if there should be an occurrence of sad passing of contract holder during contract term. This plan gives no development esteem. Amulya Jeevan II arrangement gives extravagance and luxury cover if there should be an occurrence of death on extremely low charge.
LIC Amulya Jeevan II Plans offers you a great life cover with excellent features. The Policy provides financial protection in the event of unforeseen situations that arise in your life. With LIC Amulya Jeevan II Plan 2024, you are assured of secure and comfortable life. You can choose the cover that best suits your needs and preferences. The Policy offers an enhanced range of benefits that make it one of the best life insurance policies in the market.
LIC Amulya Jeevan II Plan 2024
A Term Protection is fundamental for everybody, particularly those with a family that includes subordinate youngsters and older guardians. Startling passing of the sole provider turns into a significant mishap for the whole family. It empowers you to make arrangements for unsurprising future costs in your nonattendance like kid’s advanced education and marriage, clinical uses of guardians, ordinary pay for the family, and so on. Accordingly, getting your family’s monetary future well in advance is shrewd.
LIC, the public area extra security organization and the most seasoned in India, offers an extensive variety of term protection plans with benefits, each intended to meet the one of a kind monetary targets of people and families. These advantages incorporate a dependable wellspring of month to month pay, once single amount payout, just to give some examples. One such arrangement is Amulya Jeevan – II Arrangement, which is an unadulterated protection plan. It guarantees your group of an exceptionally high total guaranteed, and that too at an insignificant yearly premium installment. This significant total guaranteed is presented on the trained installment of a little yearly premium.
LIC Amulya Jeevan II Plan Details
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Overview of LIC Amulya Jeevan II Scheme
LIC Amulya Jeevan II is an insurance scheme offered by the Life Insurance Corporation of India (LIC). The scheme offers life insurance policies to individuals who have completed 18 years of age. The premiums for the scheme are cheaper than other insurance policies offered by LIC. The scheme has been designed to help young adults secure long-term financial stability.
LIC Amulya Jeevan II is an unadulterated term insurance plan which pays a single amount demise benefit if the safeguarded bites the dust during the term of the contract.
Key features of LIC Amulya Jeevan II Scheme
LIC Amulya Jeevan II is one of the most popular insurance schemes in India. It offers a wide range of benefits to its policyholders, including accidental death and injury cover, healthcare cover, and maternity cover. Here’s a look at some of the key features of this scheme.
Here are the outstanding elements of the arrangement which make it profitable for policyholders –
- The total guaranteed is paid in a single amount on the demise of the protected inside the strategy length
- The charges are exceptionally low and reasonable permitting you to decide on high inclusion levels for your family’s monetary security
- Inclusion for as long as 35 years is accessible under the arrangement
Benefits offered by LIC Amulya Jeevan II Plan
LIC Amulya Jeevan II is a comprehensive health insurance plan that offers a wide range of benefits to policy holders. It covers a number of medical expenses, including hospitalization, surgery, and maternity care. The plan also offers a variety of dental and optical benefits, as well as medication coverage. If you’re looking for comprehensive health insurance that offers a variety of benefits, LIC Amulya Jeevan II may be the right plan for you. Find out more by visiting the official website.
Here are the benefits which the plan offers –
In the event that the protected kicks the bucket inside the term of the strategy, the total guaranteed is paid in a singular amount and the arrangement is ended.
Since this is an unadulterated term protection plan, the arrangement has no development benefit. the guaranteed endures the term of the strategy, no advantage would be paid.
If the due charges are not paid inside the due date of the arrangement, the strategy would slip by. In the event that the strategy passes the inclusion stops and no advantages are payable. Be that as it may, LIC Amulya Jeevan II permits you a time of two years to resuscitate a slipped by strategy. Inside these two years, you can pay the remarkable charges and reestablish a passed strategy. When restored, the arrangement permits you full inclusion for the excess time of protection.
Tax benefits of LIC Amulya Jeevan II Plan
Looking to invest in life insurance? Then you’re in luck, because the Lic Amulya Jeevan II plan is a great option for tax purposes. This plan offers a number of valuable tax benefits, including the ability to deduct your premiums from your taxable income. In addition, the plan can help you save on your taxes by providing a refundable premium. So if you’re looking for a life insurance plan that offers great value for your money, the Lic Amulya Jeevan II plan may be the perfect option for you.
LIC Amulya Jeevan II Arrangement offers both of you different tax breaks both on the speculations that you as well as the advantages which you get. The tax cuts are as per the following –
The expenses that you pay to purchase and reestablish the strategy are permitted as a tax-exempt derivation from your available pay. You can lessen your available pay by INR 1.5 lakhs by guaranteeing a derivation on the premium paid for the strategy.
Segment 10 (10D)
The passing advantage which is paid under the strategy additionally draws in no duty. The advantage is totally liberated from charge. In this manner, your family can partake in a single amount benefit on which no expense would be payable.
Eligibility parameters of LIC Amulya Jeevan II Scheme
18 years to 60 years
Maximum maturity age
Term of the policy
Minimum – 5 years
Maximum – 35 years
Minimum – INR 25 lakhs
Maximum – no limit
Depends on age, term and sum assured selected
Premium payment tenure
Equal to the term of the plan
LIC Amulya Jeevan –II Plan: Policy Details
How about we examine the notable strategy subtleties of Amulya Jeevan-II Arrangement that you ought to know about to have the option to go with a cognizant choice:
Give up benefits:
Give up esteem isn’t material on Amulya Jeevan-II arrangement. This implies that this term protection plan can’t be given up in return for a money esteem. In case of it being given up before the finish of the residency, the policyholder won’t be get any advantage.
Free look period:
LIC offers policyholders a time of 15 days as a free look or cooling period on the acquisition of Amulya Jeevan-II arrangement. This period can be used by policyholders to peruse the arrangement report completely, ask inquiries and get explanations in regards to any questions that they might have about the approach. In the event that they, choose to return the approach, it will stand dropped.
The approach can be gone back the length of this date has a place with a similar monetary year.
Amulya Jeevan-II Arrangement gives task and assignment office.
Demise Advantage isn’t pertinent assuming the policyholder ends it all in no less than a year of the buy or from the date of beginning of hazard or from the date of recovery.
Premium details of LIC Amulya Jeevan II Plan
Expenses for LIC Amulya Jeevan II are payable either every year or semi-yearly. On account of semi-yearly premium installments, nonetheless, an extra 2% premium would be payable.
The example premium rates, payable under the strategy, at various blends old enough and term are given in the table beneath. For estimation purposes, coming up next are accepted –
- The protected is a male
- The protected doesn’t smoke
- The aggregate guaranteed is INR 50 lakhs
- Expenses are paid every year
Age of the insured
Term 20 years
Term 25 years
How does LIC Amulya Jeevan II Plan work?
Suppose Mr Verma purchases LIC Amulya Jeevan II Arrangement for a total guaranteed of INR 50 lakhs. He is 30 years of age and he purchases the strategy for a term of 25 years. The premium for the arrangement would be INR 9800 (according to the above table). This is the way the approach would work –
- The inclusion would go on for a long time till Mr Verma arrives at 55 years old.
- Assuming Mr Verma bites the dust during the term of the arrangement, the demise benefit payable would be INR 50 lakhs.
- If, in any case, Mr Verma gets by till the finish of the term of 25 years, no advantage would be paid on development.
Exclusions under LIC Amulya Jeevan II Plan
Suicides are rejected from the inclusion of the arrangement whenever committed in the span of an extended period of purchasing or resuscitating the strategy. In the event that the guaranteed kicks the bucket because of self destruction in the span of a year of purchasing a strategy or resuscitating a passed strategy, 80% of the charges paid would be discounted back.
How to purchase LIC Amulya Jeevan II Arrangement?
LIC Amulya Jeevan II Arrangement has been removed by LIC thus you can’t have any significant bearing for a new strategy. Nonetheless, LIC offers other term protection plans like LIC’s Tech Expression, LIC’s Anmol Jeevan II and LIC’s Jeevan Amar. In the event that you are hoping to purchase a term plan from LIC, you can look over these three.
How to make a claim under the LIC Amulya Jeevan II Plan?
In the event of death of the safeguarded, the chosen one or legitimate successor ought to illuminate LIC about the demise. Guarantee Structure 3783 ought to be filled and submitted with the important reports. When the records are submitted, LIC would check and confirm them and afterward pay the demise guarantee straightforwardly to the financial balance of the candidate or the lawful beneficiary.
You can likewise decide to make your term protection guarantee through Turtlmint. In the event that you have purchased LIC Amulya Jeevan II Arrangement from foundation, you can raise your case with itself. Simply call 1800 266 0101 or send a mail to [email protected] and your case would be enrolled. would then do whatever it takes to get your case settled at the earliest conceivable time.
Documents required for making a claim
To make a legitimate demise guarantee, the accompanying records would be required
- Death certificate
- Policy bond
- Identity proof of the nominee/legal heir
- Bank details of the claimant
- Police FIR, post mortem report, inquest report, etc. if the insured died in an accident