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  • LIC Anmol Jeevan II Plan

    LIC Term Plan

     Anmol Jeevan II from LIC is a protection plan designed to offer financial protection to the family of an insured individual in the event of his/her unfortunate demise. While life in itself is invaluable, not securing it could have harmful repercussions, which is where this plan comes into play, ensuring that the lives of our loved ones are not impacted in the event of an unfortunate circumstance.

    Eligibility Criteria for LIC Anmol Jeevan II

    Individuals who wish to protect their interests under this plan need to satisfy the basic eligibility criteria.

    • Minimum entry age – The minimum entry age to stay protected under this scheme is 18 years.
    • Maximum entry age – The maximum entry age to participate in this scheme is 55 years.
    • Maximum maturity age – The maximum maturity age is 65 years.
    • Minimum sum assured – Individuals can avail benefits of a minimum of Rs 6 lakhs under this scheme.

    Features of LIC Anmol Jeevan II

    Some of the major features of this LIC term plan are mentioned below.

    • Flexible policy terms – Individuals can opt for a policy term which suits their need. Currently, a term ranging between 5 years and 25 years can be opted for.
    • Flexible premium paying modes – Premiums can be paid either every year or every six months, as per the requirements of a policyholder.
    • High sum assured – Individuals can choose a sum assured which matches their lifestyle, with an upper limit of Rs 24 lakh, ensuring their family is financially secure if something happens to them.
    • Grace period – A 1 month grace period is provided to policyholders to make their premium payments, keeping in mind the financial conditions of individuals.

    Benefits of LIC Anmol Jeevan II

    Some of the key benefits of LIC plan are mentioned below.

    Death Benefit – A death benefit equivalent to the sum assured will be paid to the nominee of a policyholder in the unfortunate event of his/her demise while the policy is active.

    Tax Benefits – Policyholders are entitled to tax benefits on their premiums paid towards this policy under sections of the Income Tax Act. Similarly, the amount received as pay-out is also eligible for certain tax benefits.


    Mr. Arora, a business executive decides to secure the financial future of his family by purchasing LIC’s Jeevan Anmol II. At 35 years, he is married and has a nine year old daughter and a 5 year old son. He chooses to insure himself for Rs 15 lakh, with a policy term of 20 years. He pays an annual premium of Rs 7,500 (including taxes) towards this scheme.

    Mr. Arora continues to be in good health for 15 years but is a victim of heart failure in the 16th year. He passes away at age 51, leaving behind his wife and children. His wife, the nominee under this plan will now receive the sum assured of Rs 15 lakhs, thereby ensuring that they are financially safe for the immediate future.


    1. Will a maturity benefit be provided?

      No maturity benefit will be provided on maturity of this scheme.

    2. What happens if a policyholder fails to pay the premium on time?

      A one month grace period is provided to policyholders within which they can make premium payments. In the event of them failing to do so, the policy will lapse.

    3. Can a lapsed policy be revived?

      Yes, lapsed policies can be revived by paying all the dues, within two years of first unpaid premium. An additional fine will have to be paid to clear outstanding dues, and the policy will be active once such payments are completed.

    4. Can one surrender the policy and avail surrender benefits?

      No, there is no provision for surrender benefits under this plan.

    5. Are there any exclusions under this plan?

      Yes, there is a suicide exclusion under this plan which states that only 80% of the premiums paid will be repaid if the policyholder commits suicide while the policy is in force.

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