LIC Amulya Jeevan Policy premium review

Life Insurance is a word which has changed its meaning in course of time, it has been commercialized to make it more interesting and appealing, money back and market investment plans have become popular, But if you view it in a different perspective, you will understand that insurance should not be combined with anything else. Best form of insurance is term plan, today we are about to discuss elaborately about LIC'S  Amulya Jeevan which is also a term insurance plan which can give u sum assured of Rs 25 lakhs for a premium of Rs 1,30,000/- 

Amulya Jeevan - I Policy Details
Amulya jeevan is a pure insurance policy which gives you benefit only in the case of death,be it accidental or natural. amulya jeevan policy holder will not receive any amount  on maturity of the policy . great thing about this policy is it covers risk with very less premium


Amulya jeevan - I policy highlights 
1) Minimum age required   : 18 years
2) Maximum age required  : 60 years
3) Maximum age at maturity : 70 years ( that means policy holders death is covered till the age of 70 only )
4) Minimum Sum Assured    : Rs 25 lakhs
5) Policy covers both natural and accidental death (illness or accident)
6) You can choose a policy term of 5- 35 years
7) Medical tests may be required depending on insurance sum assured


Following are the premiums calculated for entry age 30 yrs, premium amount will be less as the entry age is less.

Policy term	Annual Premium	Single Premium	Sum Assured
05 yrs	Rs 5325	Rs 22,025	Rs 25 lakhs
10 yrs	Rs 5475	Rs 38,850	Rs 25 lakhs
15 yrs	Rs 5900	Rs 55,350	Rs 25 lakhs
20 yrs	Rs 6425	Rs 72,745	Rs 25 lakhs
25 yrs	Rs 7300	Rs 92,600	Rs 25 lakhs
30 yrs	Rs 8400	Rs 1,15,450	Rs 25 lakhs
35 yrs	Rs 9700	Rs 1,40,925	Rs 25 lakhs

you can understand from the above table that premium is less if the policy term is less, that means your sum assured is payable with in your policy term


Single premium means the policy holder will pay 1 time amount , i.e from the above table if you see you can pay one time payment of Rs 92,600 to avail a cover of 25 lakhs for a period of 25 years instead of paying annual or monthly premiums


Illustrations
Rakesh  has taken Amulya Jeevan-I policy for term period of 5 years on 03.05.2012  and if  Rakesh dies  on 05.08.2017 (after expiry of policy term i.e 5yrs) no amount will be paid.


Rakesh has taken Amulya jeevan-I  for a term period of 15 years on 03.05.2012 and if Rakesh dies of heart attack on 05.08.2020,then the nominee will be paid a sum of Rs 25 lakhs/sum assured


If Rakesh dies of a plane crash or a illness like kidney failure , Amulya Jeevan -I pays the nominees full sum assured.


If you are interested in Amluya Jeevan-I  you can purchase a policy from your nearest LIC Office or from their website www.licindia.in

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