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LIC Anmol Jeevan 2 Plan No 822 Review, Term Plan Features and Benefits

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LIC Anmol Jeevan 2 Plan Review

LIC Anmol Jeevan 2 Plan is a Protection Plan, which gives a financial protection to the insured’s family. Life Insurace Corporation Jeevan Anmol II is a pure economic plan which helps assured’s family on their unfortunate/ sudden death. In Today’s Life, anything can happen. To get relief from Future threatens, we should take some economic precautions for our family. For this type of situations, LIC Anmol Jeevan 822 plan is a perfect insurance plan.

LIC Jeevan Anmol II Term plan gives a premium amount of 2 to 3 rupees for every 1000 rupees. It is a pure premium conventional promotional plan without profit. Compared to other plans LIC Jeevan Anmol Plan is Cheapest Plan.

LIC Jeevan Anmol Insurance Plan Benefits and Features

LIC Anmol Jeevan ii 822 Term Insurance Plan has some key features and Benefits. These features and benefits help you to have a basic knowledge of the Plan so that you can get interested in the Policy.

Features of Anmol Jeevan 822 LIC Plan
  • Grace Period.
  • Revival.
  • Surrender Value.
  • Cooling off Period.

Grace Period:

If the Policyholder doesn’t pay the premium within the time, the company will extend the time to pay the premium is a grace period. LIC Jeevan Anmol 822 Plan has a grace period of 30 days. Assured candidate can pay the premium within this Grace Period.

Revival Period:

If the Policyholder doesn’t pay the premium within the grace period, then the Policy will be a lapse. A lapsed Term Plan will be revived within the two consecutive years from the date of first unpaid premium. This Term plan will be revived before the expiry period of Policy term.

Surrender Value: 

If the insured candidate wants to return the policy within the Minimum Policy Term, no surrender value will the paid to the policyholder.

Cooling Off Period: 

If you are not satisfied with the Terms and Conditions of the Policy, you can return the LIC Anmol Jeevan 2 Plan within the 15 days from the Date of receipt of the Policy.

Benefits Of LIC Anmol Jeevan – ii Term Plan

As every policy has some benefits, LIC Anmol Jeevan 2 822 Term Insurance Plan also has some key benefits. These benefits are applicable for the Life assured only when they pay the premium completely. Some features of LIC Anmol Jeevan 822 Term Plan are

  • Death Benefit.
  • Maturity Benefit.

Death Benefit:

In a case of the Sudden/ Unfortunate death of insured candidate within the Policy term the sum assured will be payable to the Assured’s family or nominees.

Maturity Benefit:

In the case of survival of the life assured up to the policy term, no benefits will payable.

LIC Jeevan Anmol 822 Term Plan Eligibility & Conditions

LIC Jeevan Anmol Plan has some eligibility conditions regarding the entry age, sum assured, policy term, etc. Check the Eligibility conditions for the LIC Anmol 822 Term Insurance Plan.

Sum Assured Minimum Rs. 6,00,000
Maximum Rs. 24,00,000
Age at Entry Minimum 18 years (completed)
Maximum 55 years (nearest birthday)
Policy Term Minimum 5 Years
Maximum 25 Years

Maximum Cover Ceasing Age

 65 Years(Nearest birth)

Premium Payment Mode

Yearly or Half Yearly

Sample Premium Rates LIC Anmol Jeevan ii Term Plan:

LIC Anmol Jeevan 2 Plan has some Premium rates per Rs.1000 sum assured. Look at the following table for complete details.

 Age
(years)

Term of the Policy (years)

5

10

15

20

25

20

2.09

2.09

2.09

2.16

2.31

30

2.31

2.37

2.65

3.02

3.54

40

3.48

4.10

5.07

6.03

7.05

50

7.91

9.44

11.21

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LIC Jeevan Anmol Term Insurance Plan Rebates

Premium Rebate is available only for half Yearly mode. No Rebate is available for the Yearly mode.

  • For Half Yearly Mode: 2.0% more than the original premium.
  • Sum Assured Rebate: No Rebate will be provided.

LIC Anmol Jeevan 2 PlanLIC Anmol Jeevan II Premium Calculator

To calculate the Premium for the LIC Anmol Jeevan 822, the following data will be required.

  • Name of the Policyholder.
  • Email Id.
  • Mobile Number is given to the Corporation.
  • Age Proof.
  • Policy Term.
  • Sum Assured.

LIC Anmol Jeevan 2 Policy Buying Procedure

The policyholder can visit the nearest LIC Branch Office to buy the Proposal form. Or you can go through the online to purchase the Policy. You can also get the LIC Anmol Jeevan 2 Term Plan through the Agent.

Documents needed for LIC Anmol Jeevan ii Term Insurance Plan

  • Application form/ Proposal form along with a photo.
  • Address Proof.
  • Age Proof.
  • Medical reports (If required).

LIC Jeevan II Term Plan Claim Procedure

Nominees can claim for the LIC Anmol Jeevan 2 Plan after the death of the policyholder. Because there is no Maturity/ Survival Benefit under this plan.

The documents required to claim for the LIC Anmol Jeevan 2 Plan are

  • NEFT form.
  • Cancel check or Bank Passbook xerox.
  • Policy bond.
  • Discharge form.
  • Death certificate.
Exclusions of LIC 822 Plan

There are some exclusions for this policy. Nominees of the Life assured cannot have the death benefit under these conditions. Some Exclusion under this Plan are

Suicide Clause: 

If the policyholder committed suicide for any reason within the 12 months of the date of commencement of risk or from the date of revival. The nominees will get the 80% of the premium paid till the date.

Additional Information about LIC Jeevan Anmol 2 Policy

  • No Surrender value will be provided under this plan.
  • In this LIC Anmol Jeevan 2 Plan, Loan facility is not provided.
  • No paid up value will be provided under this LIC 822 Plan.
  • No riders are available in this plan.
  • Payment of Claim: No Claims concession will be offered under this scheme.
  • Tax Benefit: Tax Benefit is applicable for 12.36% of Service Tax.
  • Back Dating Interest: 
    1. Within the same financial year, the policy can be backdated.
    2. No interest will be charged for this backdating.
  • Nominations or Assignments are available under this plan.
  • Policy Stamping Charges will be applicable for 20 paise for 1000 of total sum assured value.

FAQ’s on LIC Jeevan Anmol II Policy

1.What happens if you stop paying the premium?

A: If policy holder stops paying the premium then all benefits of the policy will cease after the expiry of a grace period of 30 days. The policyholder can revival the policy within two years from first unpaid premium by submitting relevant proofs.

2. Can I continue my policy after the grace period?

A. Yes, the policy can be revived within the two consecutive years from the date of first unpaid premium.

3.Is there any loan benefits in this Jeevan Anmol 822 Plan?

A: No, there is no loan facilities will be provided under this plan.

4. Can we have maturity benefit in this Anmol Jeevan two policy?

A: No Maturity benefit will be available in this policy. The only death benefit is available.