LIC INTRODUCE NEW PLAN "LIC LIMITED PREMIUM ENDOWMENT PLAN(PLAN NO:830). For more details Click Here"   LIC's New Anmol Jeevan - II - Plan-822            LIC's New Amulya Jeevan - II - Plan-823            LIC's New Jeevan Nidhi Plan-818            LIC's New Endowment Plan-814            LIC's New Jeevan Anand Plan-815            LIC's New Bima Bachat Plan-816            LIC's New Single Premium Endowment Plan-817            LIC's New Money Back 20 Years Plan-820            LIC's New Money Back 25 Years Plan-821                      

Monday, 3 February 2014

LIC's New Amulya Jeevan - II - Plan (Table No. 823)

LIC's Amulya Jeevan - II is a protection plan which provides financial protection to the insured's family in case of his/her unfortunate demise.

In case of unfortunate death of the Life Assured during the policy term Sum Assured shall be payable.

On survival to the end of the policy term, nothing shall be payable.

Eligibility conditions and restrictions: 

  •     Minimum Sum Assured          :   Rs. 25,00,000
  •     Maximum Sum Assured         :   No limit
            (The Sum Assured shall be in multiples of Rs. 1, 00,000/-)
  •     Minimum age at entry             :  18 years (completed)
  •     Maximum age at entry            :  60 years (nearest birthday)
  •     Maximum cover ceasing age             :  70 years (nearest birthday)
  •     Minimum policy term              :  5 years
  •     Maximum policy term            :  35 years
Payment of Premiums:
Premiums can be paid regularly during the term of the policy at yearly or half-yearly intervals. 

A grace period of one month but not less than 30 days will be allowed for payment of premiums.

Additional Premium:
Additional premium for half-yearly mode: 2.0% of tabular annual premium

If premiums are not paid within the grace period then the policy will lapse. A lapsed policy can be revived within a period of 2 consecutive years from the date of first unpaid premium but before the expiry of policy term, by paying all the arrears of premium together with interest (compounding half-yearly) at such rate as fixed by the Corporation at the time of the payment, subject to submission of satisfactory evidence of continued insurability.

The cost of the medical reports, including special reports, if any, required for the purpose of revival of the policy, shall be borne by the Life Assured.

The Corporation reserves the right to accept at original terms, accept at revised terms or decline the revival of a discontinued policy. The revival of discontinued policy shall take effect only after the same is approved by the Corporation and is specifically communicated to the Policyholder.


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