Amulya Jeevan II (Plan No. 823)

AMULYA JEEVAN II

Amulya Jeevan II (Plan No. 823)

Amulya Jeevan II is also a pure term insurance plan which is primarily for protection only.  This policy provides high risk coverage at low premiums but there is no maturity value.

The plan provides financial protection to the insured's family and dependent against unfortunate death of the policy holder during the policy term. In case, the policy holder survives the policy term, the insurance policy is terminated without any maturity returns.

The basic difference between Anmol Jeevan II and Amulya Jeevan II is the Sum Assured. Anmol Jeevan II is limited to the maximum sum assured of Rs 24,00,000.00 ( Rupees 24 Lakhs only). Amulya Jeevan II is for the customers who want even higher risk cover.

Features:

• High risk coverage at low premiums
• No maturity returns
• This plan has no surrender value
• Loan cannot be taken against this policy
• Tax benefit u/s 80 C and u/s 10(D)

Eligibility:

Minimum age at entry	18 years
Maximum age at entry	60 years
Minimum Term	5 years
Maximum Term	35 years
Maximum age at maturity	70 years
Minimum sum assured	Rs 25,00,000/-
Maximum sum assured	No higher limit

Double Tax Benefit:

U/S 80 C  : Premiums paid under this plan are eligible for tax rebate u/s 80C

U/S 10(D) : Death claim amount is also tax free u/s 10(D)

Possible Events during policy duration:

On Death

Nominee will get the sum assured immediately

On Maturity

Policy with terminate without any maturity returns

Other Points to consider:

• Double Accidental cover is not available in this policy
• Physically disabled person are not eligible for this policy
• People engaged in high risk work have to pay additional premium

Understand Amulya Jeevan II with an example

Mr. Suresh, aged 30 years takes Amulya Jeevan II policy for himself. He chooses sum assured of Rs 50,00,000/- (Rupees Fifty Lakhs only) for the duration of 20 years. 

The annual premium is Rs 12,850/- (Rupees Twelve Thousand Eight Hundred and Fifty only).

Possible Events

On Death

If Mr Suresh dies during the policy term, his nominee will receive the Sum Assured i.e. Rs 50,00,000/- (Rupees Fifty Lakhs only)

On Survival

If Mr. Suresh survives till the end of policy term, the policy will terminate without any maturity returns.