LIC is withdrawing Term Plan - Amulya Jeevan 2. Last sale of policy can be done on 4 Aug 2019.
Plan 823 Amulya Jeevan will be withdrawn on 5th August.
Plan 823 Amulya Jeevan will be withdrawn on 5th August.
LIC’s Jeevan Amar (Table No.855) – New Offline Term Life Insurance Plan
LIC’s Jeevan Amar (Table No.855) – Offline Term Life Insurance Plan
LIC’s Jeevan Amar (Table No.855) is a Non-Linked, Non-Participating Term Life Insurance Plan.
Features of the LIC’s Jeevan Amar Plan
Death Benefit Sum Assured
Level Sum Assured : Your nominee will receive the Sum Assured you opted while buying the policy.It will remain the same throughout the policy period.
Increasing Sum Assured : Under this feature,the death benefit will be the same as that of the initial sum assured you have chosen for the first five years.
From 6th policy year to 10th year,it will increase at the rate of 10% per year.
From the 16th year of the policy period,it will remain the same throughout the remaining policy period.
Accordingly,your nominee will receive the death benefit during which period of the policy your death occurs.
Death benefit payment option to the nominee
Your nominee can receive the death benefit as a lump sum or in installments.If you opted for installments,then LIC will pay the death benefit installments in 5 years,10 years or 15 years.You can choose the full death claim amount be payable in installments or a certain portion of death claim in installments.You can choose this installment option either at the time of buying or during the policy period.
LIC’s Jeevan Amar (Table No.855) is a Non-Linked, Non-Participating Term Life Insurance Plan.
Features of the LIC’s Jeevan Amar Plan
- OFFLINE Term Life Insurance
- Minimum Sum Assured - Rs.25 lakh
- Maximum sum assured. - No limit
- Premium Payment Option - Regular, Single or Limited.
- You can opt for a level sum assured,where the sum assured you opted will remain the same throughout the policy period.
- You can opt for an increasing sum assured also, where the death benefit will remain the same up to 5 years of the first policy period.After that, it will increases at a rate of 10% for the next 10 years.From the 16th year,it will remain the same.
- Death Benefits can be taken in installments also of 5 years,10 years or 15 years.
- Coverage up to 80 years of age.
- You can opt for Accidental Rider also.
- Lower rates for Non-Smokers and special rates for women.
- Entry Age – 18 to 65 years (LBD)
- Max Maturity Age – 80 years (LBD)
- Min BSA :Rs.50 Lakhs
- Max BSA : No Limit
- Policy Term – 10 to 40 years
- Premium Payment – Single, Regular/ Limited (Yearly / Half-Yearly)
Death Benefit Sum Assured
Level Sum Assured : Your nominee will receive the Sum Assured you opted while buying the policy.It will remain the same throughout the policy period.
Increasing Sum Assured : Under this feature,the death benefit will be the same as that of the initial sum assured you have chosen for the first five years.
From 6th policy year to 10th year,it will increase at the rate of 10% per year.
From the 16th year of the policy period,it will remain the same throughout the remaining policy period.
Accordingly,your nominee will receive the death benefit during which period of the policy your death occurs.
Death benefit payment option to the nominee
Your nominee can receive the death benefit as a lump sum or in installments.If you opted for installments,then LIC will pay the death benefit installments in 5 years,10 years or 15 years.You can choose the full death claim amount be payable in installments or a certain portion of death claim in installments.You can choose this installment option either at the time of buying or during the policy period.
LICs New ULIP Plan
LIC is going to launch new ULIP plan
Unit Linked, Non-participating, Regular Premium Life Insurance Plan
ULIP Plan Features
Available for Offline as well as Online sale
Minimum Premium : Rs. 40,000, Maximum Premium: No Limit
Basic Sum Assured (BSA):
Age below 55 years : Higher of, (10x AP) or (0.5x term*AP)
Age above 55 years : Higher of, (7x AP) or (0.25x term*AP)
Guaranteed Additions as a percentage of Annualized Premium (AP) shall be
added to the Unit fund on completion of specific duration
End of Policy Year Guaranteed Additions (as percentage of AP)
6 – 5%
10 – 10%
15 – 15%
20 20%
25 25%
Death Benefit: Highest of (Basic Sum Assured) or (Policyholder’s Fund Value)
or (105% of total premium paid)
Maturity Benefit: Policyholder’s Fund Value + Refund of total Mortality
Charges
Policy Term : 10 to 25 years
Minimum Age at entry : [90] Days
Maximum Age at entry: [65] years
Minimum Maturity Age : [18] years
Maximum Maturity Age: [85] years
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