LIC Anmol Jeevan II Plan

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Anmol Jeevan II from LIC is a protection plan designed to offer financial protection to the family of an insured individual in the event of his/her unfortunate demise. While life in itself is invaluable, not securing it could have harmful repercussions, which is where this plan comes into play, ensuring that the lives of our loved ones are not impacted in the event of an unfortunate circumstance.

Eligibility Criteria for LIC Anmol Jeevan II
Individuals who wish to protect their interests under this plan need to satisfy the basic eligibility criteria.

·         Minimum entry age – The minimum entry age to stay protected under this scheme is 18 years.
·         Maximum entry age – The maximum entry age to participate in this scheme is 55 years.
·         Maximum maturity age – The maximum maturity age is 65 years.
·      Minimum sum assured – Individuals can avail benefits of a minimum of Rs 6 lakhs under this scheme.

Features of LIC Anmol Jeevan II
Some of the major features of this LIC term plan are mentioned below.

·         Flexible policy terms – Individuals can opt for a policy term which suits their need. Currently, a term ranging between 5 years and 25 years can be opted for.
·         Flexible premium paying modes – Premiums can be paid either every year or every six months, as per the requirements of a policyholder.
·         High sum assured – Individuals can choose a sum assured which matches their lifestyle, with an upper limit of Rs 24 lakh, ensuring their family is financially secure if something happens to them.
·         Grace period – A 1 month grace period is provided to policyholders to make their premium payments, keeping in mind the financial conditions of individuals.

Benefits of LIC Anmol Jeevan II
Some of the key benefits of LIC plan are mentioned below.

·         Death Benefit – A death benefit equivalent to the sum assured will be paid to the nominee of a policyholder in the unfortunate event of his/her demise while the policy is active.

·         Tax Benefits – Policyholders are entitled to tax benefits on their premiums paid towards this policy under sections of the Income Tax Act. Similarly, the amount received as pay-out is also eligible for certain tax benefits.

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