Tag Archives: LIC Amulya Jeevan I brochure

LIC Amulya Jeevan – I: Features, Benefits

LIC Amulya Jeevan – I: This is term insurance policy in case of unfortunate death of the policy holder during the term of the policy, sum assured is payable, provided the policy is kept in force.

Death Benefit: In case of unfortunate death of the Life Assured during the term of the policy, Sum Assured is payable, provided the policy is kept in force.

Maturity Benefit: Nil

MODE OF PAYMENT OF PREMIUMS       
Premiums may be paid Yearly, Half-yearly or by Single Premium mode.

PREMIUM RATES
The tables below provide specimen tabular premiums for various age-term combinations for Rs. 1000/- Sum Assured
Annual Premium:

Age
(yrs.)

Term of the Policy (years)

5

10

15

20

25

30

35

20

1.97

1.97

1.97

1.97

2.05

2.18

2.38

25

2.07

2.07

2.08

2.18

2.35

2.61

2.94

30

2.13

2.19

2.36

2.57

2.92

3.36

3.88

35

2.43

2.64

2.94

3.40

3.97

4.65

5.47

40

3.04

3.43

4.07

4.81

5.70

6.77

Single Premium:

Age
(yrs.)

Term of the Policy (years)

5

10

15

20

25

30

35

20

8.12

13.71

18.12

22.03

25.86

29.84

34.51

25

8.55

14.33

19.46

24.49

29.70

35.84

42.79

30

8.81

15.54

22.14

28.99

37.04

46.18

56.37

35

10.07

18.73

27.72

38.31

50.31

63.71

78.88

40

12.62

24.45

38.38

54.18

71.81

91.79

REBATES:

Large Sum Assured Rebates: The reduction in tabular premiums for different Sum Assured ranges are given below:

Sum Assured

Regular Premium

Single premium

Up to Rs.99 lakh

Rs.1 Crore and above

Rs.0.50 %o SA

MODE EXTRA : 2.00% of tabular annual premium for half-yearly mode.

ELIGIBILITY CONDITIONS

Minimum age at entry                         –           18 Year (Completed)
Maximum age at entry                        –           60 years (nearest birthday)
Maximum age at maturity                   –           70 years
Policy term                                        –           5 to 35 years
Minimum Sum Assured                       –           Rs.25,00,000/-
Maximum Sum Assured                      –           No upper limit
(Sum Assured shall be in multiples of Rs.1,00,000/-)

GRACE PERIOD: 
A grace period of 15 days will be allowed for payment of yearly or half-yearly premiums.

PAID UP VALUE:
The policy shall not acquire any paid-up value.

REVIVAL
If the Policy has lapsed, it may be revived during the life time of the Life Assured, but within a period of 5 years from the date of first unpaid premium and before the date of maturity, on submission of proof of continued insurability to the satisfaction of the Corporation and the payment of all the arrears of premium together with interest at such rate as may be fixed by the Corporation from time to time compounding half-yearly.

SURRENDER VALUE:
No Surrender Value will be available under this plan.

LOAN:
No loan will be available under this plan.

COOLING OFF PERIOD:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to us within 15 days.