Anmol Jeevan II
Anmol Jeevan II (Plan No. 822)
Anmol Jeevan II is 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.
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 80C and u/s 10(D)
Eligibility Conditions
Minimum age at entry
|
18 years
|
Maximum age at entry
|
55 years
|
Minimum Term
|
5 years
|
Maximum Term
|
25 years
|
Maximum age at maturity
|
65 years
|
Minimum sum assured
|
Rs 6,00,000.00
|
Maximum sum assured
|
Rs 24,00,000.00
|
Double Tax Benefit
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 Anmol Jeevan II with an example
Mr. Rahul, aged 30 years takes Anmol Jeevan II policy cover on his life. He chooses the Sum Assured of Rs 10,00,000/- ( Rupees Ten Lakhs only) for the duration of 15 years and pays an annual premium of Rs 2,812/- (Rupees Two Thousand Eight Hundred and Twelve only).
Possible Events
On Death
If Mr Rahul dies during the policy term, his nominee will receive the Sum Assured i.e. Rs 10,00,000/- (Rupees Ten Lakhs only)
On Survival
If Mr. Rahul survives till the end of policy term, he will not get any maturity returns and the policy will terminate.
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