LIC’s Anmol Jeevan II – An Affordable Protection Policy

  • March 14, 2014

Complying with the new IRDA guidelines, LIC has launched the Anmol Jeevan II plan to ensure an affordable protection policy for insurance buyers. This is precisely a pure term plan no-profit low-priced clean protection plan. Here, the policy plan offers a regular premium payment option. This can be opted for a high sum assured value which lies within the range 6 lakh INR and 24 lakh INR. The sum assured is in multiples of 1lakh INR. The minimum sum assured for the policy is 6 lakh INR.

LIC's Anmol Jeevan II

Age Bracket

The policy has also set some parameters for access to the plan which is minimum and maximum entry age. To avail of this plan, one needs to be fit in the age bracket 18 and 55 years. The plan can be opted for a term of 5 years to a maximum of 25 years. Maximum age approved at the policy term maturity is 65 years.

Premium Payment Mode

The plan launched by LIC demands regular premiums from the policy holder. One needs to pay this amount in any of the two modes listed below:



Under this plan, the company does not provide provision to pay premium in lump sum (single payment) or option for single premium option. If you choose to pay premiums in the half-yearly premium payment mode, the company will charge you an extra premium of 2 per cent of the yearly premium charged for the plan.

Affordability of Anmol Jeevan II plan can be exemplified in the following way:

Mr. Shah is 30 years old. He goes for LIC’s Anmol Jeevan II plan for 25 years term. Shah chooses a minimum sum assured value of 6 lakh INR by paying an annual premium of only 2,124 INR. Here, for half-yearly premium payment mode, one needs to shell out about 2 per cent over and above this amount. The amount comes as 2167 INR.

One of the best things about the plan is that it can be revived anytime during the life time of the policy holder prior to the expiry of policy term. In the event of the new plan and non-payment of premium can be revived within two years from the date the premium remained unpaid first before maturity term of policy.

Benefits of LIC Anmol Jeevan II

Being a pure term cover plan, the sum assured by LIC on anmol jeevan II shall be payable to the nominee of the policy. This is in the event of unfortunate death of the policy holder the term of the cover.

Maturity Benefit – Upon survival of the policy holder towards the end of the policy term, nothing shall be owed. The minimum sum assured for the plan is 6,00,000 INR and maximum sum assured is 24,00,000 INR.

Death Benefit – In the event of unfortunate demise of the policy holder, during the policy term, sum assured shall be payable.



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