LIC Term Plan Amulya Jeevan-II,Details,Benefits,Review
LIC Amulya Jeevan II is a pure risk cover term plan of sum assured for Rs 25 lakhs and more, which can be opted primarily for protection. In this plan, the nominee will get the entire Sum assured if the life insured dies during the policy term.
Key Features of LIC Amulya Jeevan II Policy
- Pure term plan with only death benefit
- Sum Assured of Rs.25 Lakhs or more can be opted
- There is no maturity benefit in this plan
- Tax benefits available
Benefits you get from LIC Amulya Jeevan II Insurance Plan
Death Benefit - The entire Sum Assured is paid to the nominee on death of the Life Insured during the policy term.
Maturity Benefit - No benefit is payable on maturity as this is a pure protection plan.
Income Tax Benefit - Life Insurance premiums paid up to Rs.1,00,000 are allowed as a deduction from the taxable income each year under section 80C. Death Benefit is also tax free.
Eligibility conditions and other restrictions in LIC Amulya Jeevan II Insurance Policy
- Sum Assured Minimum Rs.25,00,000 & Maximum Unlimited
- Policy Term are Minimum 5 Years & Maximum 35 Years
- Premium Payment Term is Equal to policy tenure
- Entry Age of Insured Minimum 18 Years & Maximum 60 Years
- Age at Maturity is Maximum 70 Years
- Payment modes are Yearly and Half-Yearly