LIC Amulya Jeevan Plan
LIC Amulya Jeevan Plan is a type of term insurance plan that has been introduced by LIC keeping in view the need of the term plan of the customers. In this term plan, if the life assured dies during the policy term, then the benefit of sum assured is provided to the person nominated by the life assured. If the policyholder survives the policy term then no benefit is provided to him.
Thus it is a term insurance plan through which the insured can secure the financial needs of his family in his absence. LIC Amulya Jeevan Plan offered by LIC offers you the maximum turn plan coverage at very affordable premiums.
Features Of LIC Amulya Jeevan Plan
Features of LIC Amulya Jeevan Plan are as follows-
- This term insurance plan provides a sum assured of a minimum of Rs 25 lakhs to the nominee of the life assured in case of death of the life assured during the policy term. No limit has been prescribed for the maximum sum assured.
- LIC Amulya Jeevan Plan offers you maximum life coverage at a low cost. Being available at a low premium amount, one can easily avail this term plan.
- This plan is available to you for a minimum policy term of 5 years to a maximum of 35 years.
- This is a purely term insurance plan. In this you are not provided any kind of maturity benefit.
- In this plan, you are provided with a free look period of 15 days. If you are not happy with this plan then you can opt out of this plan within 15 days.
- In this you are also provided with a grace period of 15 days. In case you do not pay your premium by the due date, you are given an opportunity to pay within 15 days.
- You can also take advantage of tax benefits (under Section 80C and 10 (10D) of the IT Act) under this plan.
Benefits Of LIC Amulya Jeevan Plan
The benefits of LIC Amulya Jeevan Plan are as follows-
- Death Benefit:
LIC Amulya Jeevan Plan Death benefit is provided to the nominee by the life assured in case of death of the life assured. In case of accidental death of the life assured during the policy term, a sum assured of a minimum of Rs 25 lakh is provided to the nominee by the life assured. There is no limit on the maximum sum insured.
- Maturity Benefit:
LIC Amulya Jeevan Plan is purely a term insurance plan. Therefore, you are not provided any kind of maturity benefit in this. If the life assured survives the policy term then no benefit is provided to him.
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- Riders:
You can further enhance your term plan coverage by adding riders to this term insurance plan. You can enhance your term insurance coverage by adding these riders if you feel that you need more term plan coverage. It is worth noting that you have to pay additional premium for adding the rider only then you can avail this facility.
- Income Tax Benefit:
You can also avail tax benefits on premiums paid up to Rs.1,50,000 under LIC Amulya Jeevan Plan. In this you are provided tax benefit under section 80C of Income Tax Act 1961.
LIC Amulya Jeevan Plan Eligibility
Eligibility for LIC Amulya Jeevan Plan is as follows-
| Minimum | Maximum | |
| Sum Assured | 25 Lakh | No Limit |
| Policy Term | 5 Years | 35 Years |
| Premium Payment Term | Single | Equal to policy term |
| Entry Age | 18 Years | 60 Years |
| Age at Maturity | – | 70 Years |
| Payment modes | Yearly & Half-Yearly and Single | |
Documents Required For LIC Amulya Jeevan Plan
The documents required for LIC Amulya Jeevan Plan are as follows-
1. Latest Medical Report
2. Age Proof (Any one of the following):
- voter id,
- driver Licence
- Aadhar card,
- Birth certificate,
- High school mark sheet.
3. Residence Certificate (any one of the following):
- Aadhar card,
- Passport,
- driving license,
- voter id,
- Ration card.
4. Identity proof (any one of the following):
- Aadhar card,
- PAN card,
- Passport,
- driving license.
5. I Ratio:
- Salary Slip (last 3 months),
- Bank statement (last 6 months),
- Form 16,
- ITR.
LIC Amulya Jeevan Plan Premium
LIC Amul Jeevan Plan offers you multiple premium paying options. You can choose any of these premium payment options as per your convenience. You get the option of paying yearly, half-yearly or single premium for Amulya Jeevan plan by LIC. You can avail your LIC Amulya Jeevan Plan coverage by choosing any of these premium payment options.
- Annual,
- Semi annually,
- Single premium .
How To Buy LIC Amulya Jeevan Plan?
To buy LIC Amulya Jeevan plan, you need to visit your nearest LIC branch. You can easily buy this plan by visiting your nearest LIC branch.
Apart from this, you can also buy LIC Amulya Jeevan Plan through LIC representative. You are provided the facility of buying LIC plans at home by LIC representative.