• LIC Amulya Jevan II Plan

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     A protection plan designed to secure the financial future of family members of a life insured, Amulya Jeevan II is targeted towards those who keep the interests of their loved ones in the forefront. This plan is ideal for members of the society who have amassed certain wealth, with an accustomed lifestyle.

    Eligibility Criteria for LIC Amulya Jeevan II

    Individuals who wish to protect their loved ones through Amulya Jeevan II need to satisfy the following basic criteria.

    • Maximum maturity age – The maximum maturity age for this plan is 70 years.
    • Minimum entry age – An individual should be at least 18 years old in order to participate in this plan.
    • Maximum entry age – The maximum entry age for Amulya Jeevan II is 60 years.
    • Minimum sum assured – The minimum sum assured under this scheme is Rs 25 lakhs.

    Features of LIC Amulya Jeevan II

    Some of the unique features of term plan from LIC are mentioned below.

    • Flexible policy terms – The policy terms under this plan range between 5 and 35 years, ensuring an individual can choose a term which suits his/her immediate requirements.
    • High sum assured – Policyholders can protect themselves to the tune of a minimum of Rs 25 lakh, with an option to increase this cover to match any amount they feel is necessary.
    • Grace period – A one month grace period is provided to policyholders who fail to pay their premiums on time.
    • Flexible premium payment modes – Policyholders can choose to pay the premium either once a year or once every six months.

    Benefits of LIC Amulya Jeevan II

    LIC Amulya Jeevan offers some unique benefits to policyholders, with the key ones mentioned below.

    Death Benefit – In the unfortunate event of demise of a policyholder, his/her nominee will receive a death benefit equivalent to the sum assured under the plan. This benefit will be paid only if death occurs while the policy is in place.

    Tax Benefits – The Income Tax Act of the country provides provisions for tax benefits on premiums paid and the benefit amount received.

    Example

    Miss Rita, aged 40 years is a manager in a reputed MNC. She decides to secure the financial future of her family, a husband and two daughter aged 12 years and 14 years respectively. She chooses the Amulya Jeevan II with a policy term of 30 years. She thinks a sum of Rs 50 lakh will be sufficient financial protection for her family and pays an annual premium of Rs 30,000 towards the same. She makes her elder daughter the nominee under this scheme.

    Unfortunately, 20 years down the line, Rita passes away due to cardiac arrest. Her elder daughter will now receive Rs 50 lakh from the insurance company. If Miss Rita were to survive the tenure, no maturity benefit would be paid to her.

    FAQs

    1. Will a maturity benefit be paid when the policy matures?

      No, there is no maturity benefit under this scheme and no amount will be paid if the policyholder survives till maturity.

    2. Will one be paid a surrender value on surrendering the policy?

      No, there is no provision for a surrender benefit under the Amulya Jeevan II plan.

    3. What happens if a policyholders fails to pay the premiums within the grace period?

      In such cases the policy will lapse and a policyholder will have to pay the premiums and a fine to revive it. Revival is possible only within 2 years of first unpaid due.

    4. Are there any exclusions under Amulya Jeevan II?

      Yes, there is a suicide exclusion clause which states that a nominee will be eligible for only 80% of the premiums paid if a policyholder commits suicide.

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    LIC Amulya Jevan 2 Plan Reviews

  • Page 1 of 50 1 2 3 4 5
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a LIC policy from last 4 years and it is a long term policy. The tenure of this life insurance policy is 20 years. I pay my premium once in a year through direct payment and the payment options are convenient for me. I am happy with coverage and returns of this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 14, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with LIC from last 10 years and it is a long term policy. I am satisfied with the coverage and benefits of this policy. I pay my premium once in 3 months by cheque and i am convenient with the payment options. The maturity period for this policy is 15 years.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 14, 2018
    • LIC Life Insurance
      "Scope for improvement"
      0.5 3.0/5 "Satisfactory"
      I am having the life insurance policy with the Life Insurance Corporation of India. I would like to say that the customer service is not good one and the coverage value is not good too. There are no advantages with them.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 14, 2018
    • LIC Life Insurance
      "Best"
      0.5 4.5/5 "Excellent!"
      I have got the life insurance policy with the Life Insurance Corporation of India. I have not used their web portal as such. Coverage value is good one with the Life Insurance Corporation of India, also the premium value is better one with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 14, 2018
    • LIC Life Insurance
      "Good money back plan "
      0.5 5.0/5 "Blown Away!"
      I am having the Money back life insurance policy for the past 10 years. The customer support service and the response is good with the LIC. I pay the premium amount of Rs,5000 to this policy every year once. This policy has the tenure of 20years. I got the money back in 4 years once.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good child plan "
      0.5 5.0/5 "Blown Away!"
      I got the Jeevan Tharan life insurance policy around 3 years ago. The customer support service and the response is good with the LIC and this policy will get matured once my child turns to 18years. I pay the premium amount of Rs,15,000 to this policy in every once.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The Life insurance policy has been taken by me around 4 years ago. This policy has the tenure of 15years. The customer support service and the response is good with the LIC. I pay the premium amount of Rs,28,000 in every year once. i am satisfied having this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 3 years and it is a long term policy. I am happy with the returns and tax benefits of this policy. I pay my premium once in a year through online and the payment options are convenient for me. The maturity period for this policy is 20 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have been using LIC since my childhood and it is a long term policy, the tenure for this life insurance policy is 15 years. I pay my premium once in a year by cheque and i am convenient with the payment options. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "BEST"
      0.5 5.0/5 "Blown Away!"
      MONEY BACK i have been using from the LIC. I have been using since 2009. It is a long term policy of 27 years. I pay for 6 months once for my insurance and through the cash and sometimes through the net banking. I have not taken any of the loans in my insurance.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India and I have not interacted with them as much. Coverage value is fine one with the Life Insurance Corporation of India and I have not claimed as such.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Better Jeevan saaral policy"
      0.5 5.0/5 "Blown Away!"
      I pay the premium amount of Rs,12000 every year once to the Jeevan saaral policy . I hold this policy for the past 18years. The customer support service and the response is good with the LIC and this policy ha the tenure of 20 years. The plan benefits and the policy coverage is very good with this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good Jeevan anand policy"
      0.5 5.0/5 "Blown Away!"
      I got the LIC life insurance policy around 6years ago. The customer support service and the response is good with the LIC and this policy has good plan benefits and better policy coverage with this policy. I pay Rs,762 every 3 months once as premium amount. This policy has the tenure of 20years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good Life insurance policy"
      0.5 5.0/5 "Blown Away!"
      If i missed my due date, the ECS is deducted from the bank where it is got deducted. In the branch the services is good. I never claimed the policy so far. I can claim this policy after 16 years. I used to make the payment through cash. Once i completed my policy, my amount will include some bonus and interest.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Better policy"
      0.5 3.0/5 "Satisfactory"
      Their is a agent in LIC. In their customer care services, i wont get proper response. Whenever i have a issue, i will check withe a agent. Total tenure of the policy is more than 15 to 20 years, i cannot predict the money value in future. I'm not that much confidence on LIC. I used to pay through ECS. Death coverage, Disabled coverage is available.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 12, 2018
    • LIC Life Insurance
      "Best"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India. Customer service is good one with the Life Insurance Corporation of India. Plan benefits are really fine one for me with the Life Insurance Corporation of India.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 12, 2018
    • LIC Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India from the last five years of time. Customer service is good one and the response is good too. Coverage value is fine one with the LIC of India.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 12, 2018
    • LIC Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      Got the life insurance policy with the LIC and I have paid Rs,450 to this policy every month on month. The customer support service and the response is average with the LIC life insurance policy. The plan benefits and the policy coverage is very good with LIC.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 12, 2018
    • LIC Life Insurance
      "Best"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India. Customer service is good one and the response is better one. Coverage value is around 2.5 lakh Rupees with the Life Insurance Corporation of India.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 12, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 3 years and it is a long term policy. I am happy with the returns and tax benefits of this policy. I pay my premium once in a year through net banking and i am convenient with the payment options. The maturity period for this policy is 20 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 11, 2018
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