LIC Term Assurance Plans

LIC Term Assurance Plans: Anmol Jeevan II, Amulya Jeevan II and e-Term-All you need to know

LIC Term Assurance Plans

LIC Term Assurance Plans: Anmol Jeevan II, Amulya Jeevan II and e-Term- all you need to know.

What is term insurance? 

Term insurance is type of  life insurance policy that provides coverage for a certain period of time or a specified term of years. If the insured died during the time period specified in the policy and the policy is active or in force, then a death benefit will be paid. If the insured survives the term nothing is paid.

Why term insurance is better?

Term Insurance Plans Provide pure life cover. This means there is no savings/ investment component. These are basic plans which makes life insurance more affordable against other options. It is possible for the policyholders to opt for larger life cover at a lower premium compared to similar endowment plans.

Life Insurance Corporation of India (LIC) offers mainly three Term Assurance Plans:

  1. LIC’s Anmol Jeevan II
  2. LIC’s Amulya jeevan II
  3. LIC’c e-Term

LIC’s Anmol Jeevan II:

LIC’s Anmol Jeevan II is a protection plan which provides financial protection to the insured’s family in case of his/her unfortunate death.

Benifits of LIC’s Anmol Jeevan II:

Death Benefits

In case the life assured die during the term of the policy, sum assured shall be payable.

Maturity Benefits

In case life assured survives till the end of the policy term, nothing shall be payable.

LIC’s Amulya Jeevan II:

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

Benifits of LIC’s Amulya Jeevan II:

Death Benefits

In case the life assured die during the term of the policy, sum assured shall be payable.

Maturity Benefits

In case life assured survives till the end of the policy term, nothing shall be payable.

LIC’s e-Term:

LIC’s e-Term is a regular premium non-participating ‘Online Term Assurance Policy’ which provides financial protection to the insured’s family in case of his/her unfortunate demise. This Plan will be available through online application process only.

Comparison of LIC Term Assurance Plans:

Features LIC’s Anmol Jeevan II LIC’s Amulya Jeevan II LIC’s e-Term
Entry Age Minimum 18 years

Maximum 55 years

Minimum 18 years

Maximum 60 years

Minimum 18 years

Maximum 60 years

Maturity Age Maximum 65 years Maximum 70 years Maximum 75 years
Policy Term  Minimum 5 years

Maximum 25 years

Minimum 5 years

Maximum 35 years

Minimum 10 years

Maximum 35 years

Premium Payment Mode Annual or Semi-Annual Annual or Semi-Annual Annual Only
Sum Assured Minimum Rs. 600000

Maximum Rs. 2400000

Minimum Rs 2500000

Maximum -No limit

Minimum: Aggregate Category Rs. 2500000

Non-Smoker Category Rs.5000000

Maximum- No Limit

For more details of the plan visit LIC Term Plans

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