LIC Anmol Jeevan 1

LIC Anmol Jeevan 1 Table No. 164

Term insurance is often the most inexpensive life insurance solution. Term insurance is recommended by most investment and financial experts.

Anmol Jeevan-I Summary:

Life Insurance Corporation Of India’s Anmol Jeevan-I (Plan No. 164) is a unique plan of assurance, by far the cheapest policy to buy; cheaper than even a whole life policy to start with.  Anmol Jeevan-I is a pure term cover that provides only life cover, unlike endowment and money-back policies which have a built-in saving element too.

Benefits:

On Maturity:
On Maturity, no amount will be paid to the Policyholder.

On Death:
On the death of the policyholder during the policy term, S.A. will be paid to the nominee.

Income tax rebate:
The premium paid towards Anmol Jeevan-I is eligible for tax deduction under section 80C of the Income Tax Act,1961.

Eligibility Conditions and Restrictions for Anmol Jeevan-I:

• Minimum Age at entry: 18 years (completed)
• Maximum Age at entry: 55 years (nearest birthday)
• Maximum Age at maturity: 65 years (nearest birthday)
• Policy Term: 5 years to 25 years
• Minimum Sum Assured: Rs.5,00,000/-
• Maximum Sum Assured: Less than 25,00,000 /-
  (Policies will be issued in multiples of Rs.1,00,000/- for Sum Assured above the minimum Sum Assured)
• Loan: Not available
• Surrender Value: Nil
• Dating Back: Allowed
• Grace Period: 15 days

Payment Of claims:
No Claims concession will be applicable to this Policy.

Mode of Premium :
The premium can be paid either in Yearly, Half-yearly & Single Premium.

Example: Mr. Ashok takes a policy for 20 years for Rs.20 lakh sum assured.
(a) On survival till maturity, Mr. Ashok will not receive any amount.
(b) On the death of Mr. Ashok during the policy term, his nominee will get Rs.20 lakhs S.A.

Don’t like the Term plan? Check out: Jeevan Anand whole life endowment Plan

The Unique Identification Number (UIN) for Anmol Jeevan-I Plan is 512N213V01.

Update: Anmol Jeevan-I Plan No. 164 Has Been Discontinued.

Note:
The above is the product summary giving the key features of the plan. This is for illustrative purposes only. This does not represent a contract and for details please refer to your policy document.