Amulya Jeevan Insurance Policy with profits: Table No. 177
Features of Amulya Jeevan insurance policy: This insurance policy was introduced from 27th February 2006 by LIC. The minimum sum assured amount under this policy is Rs. 25 Lacs. It has been decided by LIC that no insurance policy will be issued with Rs. 25 Lacs under Amulya Jeevan insurance policy or more under the existing term assurance policy Amol Jeevan (T-164) w.e.f 27th February 2006. However the old policy proposal was introduced under this policy may be completed either in the new policy or under the old policy, whichever is favorable to the proposer.
Parameters of Amulya Jeevan Insurance Policy
|Minimum 18 years (completed) and a maximum of 60 years (NBD)
|Maximum 70 years (NBD)
|Minimum 5 years and a maximum of 35 years
|Sum assured amount
|Minimum 25 years and maximum no limit
|Sum assured in multiples
|Surrender of policy
|Compulsory. FMR will be needed to be done by DMR/Addl. DMR or by TPA
No amount will be paid to the insured on the maturity of this policy.
The death benefit
If the insured dies then the nominee will be payable the basic sum assured amount under this policy.
Mr. Ashutosh aged 31 years has taken up amulya Jeevan insurance policy. The sum assured amount under the policy is Rs. 25 Lacs in Mr. Ashutosh’s case with a term of 20 years. He has to pay Rs. 6975 as yearly premium.
If Mr. Ashutosh dies within the policy term then his nominee will get Rs. 25 Lacs. On the other hand, if Mr. Ashutosh is survived till the policy ends then he will not get any amount on maturity.
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