LIC Anmol Jeevan II Plan details
LIC Term Insurance plan Anmol Jeevan is one of the best example for pure insurance. Jeevan Anmol is a plan which provides financial protection to your family in case of unfortunate demise. and no returns when the policy matures. This plan is very popular in developed countries.
Features of Anmol Jeevan :
- LIC Anmol jeevan Plan is available from Rs. 6, 00,000/- to Rs. 24,00,000/- only.
- Minimum entry age is 18 yrs
- Maximum age is 55 yrs
- Loan is not available under this plan
- No Surrender value can be obtained under this plan
- If regular premium is not paid, policy would lapse without any grace period.
Benefits of LIC Jeevan anmol :
- Cover the policy holder with low premium
- Policy covers worldwide
- Premium can be paid half yearly and yearly modes only.
Tax benefits of Jeevan Anmol Plan :
- Tax exemption can be obtained under 80C for the premium paid.
- In case of claim, Total value settled by LIC of India is fully tax free under section 10 (10 D) of Income Tax Act.
Mr A, age 32 buys LIC Anmol Jeevan II Plan for Rs. 10,00,000/- with premium term of 15 years. His basic premium per year would be Rs. 2,910/- or half yearly is would be Rs. 1,484/-.
Mr A lives till premium paying term and the policy completes, no maturity benefits would be paid.
After paying for 10 years if the Policyholder dies due to normal or accident, LIC of India would pay Rs. 10,00,000/- to his family without deducting any tax from the claim amount.