Amulya Jeevan II
This plan gives financial security to the family of the insured in case of death of the policyholder during the policy term, his/her family would be entitled to receive the sum assured. This policy is different from other LIC Term Plan as this allows higher sum assured amounts (25 lac and above).
|Min/Max Age at Entry||18 to 60 Years|
|Min/Max Policy Term||5 to 35 Years|
|Maximum Cover Ceasing Age||70 years|
|Min/Max Sum Assured||Rs. 25,00,000 – No Limit|
|Premium Payment||Half-Yearly* & Yearly|
|Riders||No Riders available|
*Additional 2% premium rates.
Benefits of the Amulya Jeevan II Plan
- On Maturity – There is no benefit payable on survival of the policyholder till the end of the term.
- On Death – In case of death of the policyholder during the policy term, the nominee would be eligible to receive the Sum Assured.
Grace period & Revival Policy
For Yearly, Half-yearly mode of payment a grace period of 30 days is allowed in case the policyholder has been unable to pay the premium on the due date.
If the premium is not paid on time and the grace period expires as well without the payment being made, then the policy lapses. However, the policy can be revived at any time during the policy term within a period of 2 years from the last premium paid, by paying all the pending premiums with interest.
Surrender & Suicide Cases
There is no surrender benefit under the Amulya Jeevan II policy.
If the policyholder happens to commit suicide before a year from the commencement of the policy, then 80% of the premiums would be returned to the nominee.
- Plan Application form along with a photograph
- Residential proof
- Identity proof along with age proof
- Medical reports if necessary.
Amulya Jeevan II Plan Claim Procedure
The documents required by the nominee in order to claim the amount are:
- Claim form
- Original Policy Document
- ID proof and Age proof
- Medical treatment document before death
- Death certificate of the policyholder
Disclaimer – Though we try our best but we do not guarantee correctness of information hence you are advised to be cautious & do thorough research before reaching to a conclusion. If you find any discrepancies you’re welcome to contact us.