LIC Amulya Jeevan 2 (823)- A pure Term Insurance

Amulya Jeevan II, is a pure term insurance policy of LIC, which provides high life cover in case of unfortunate death of policy holder during policy term. This plan does not provide any maturity value. Amulya Jeevan II plan provides high life cover in case of death on very low premium, so it can be a must have insurance plan for adequate financial security of family and loved ones.

Key Features

  • High Life Cover on low premium
  • Premiums paid are eligible for tax rebate under 80(C)
  • No Maturity or survival benefit

Plan Parameters

Age of Entry 18 to 60 Years
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Premium Paying Mode Half yearly & Yearly
Calculate Premium
Policy Term 5 to 35 years
Sum Assured 25,00,000 and above (in multiples of 1,00,000)
Loan Not Applicable
Surrender No Surrender Amount
Revival Within 2 Years

Death benefit

  • Amount equal to sum assured will be paid to nominee on death of policy holder during policy term.

Maturity benefit

  • On survival of policy holder, nothing will be paid.

Amulya Jeevan 2 with Example

LIC's Amulya Jeevan II is a term plan, which provides life cover in case of death of policy holder, Lets take an example of a person who is purchasing Amulya Jeevan II with following details.

Sum Assured: Rs. 50,00,000
Policy Term: 25 Years
Policy Purchase Year: 2015
Age: 30 Years
Yearly Premium: Rs. 11,172 Calculate Premium

On Survival, i.e. completion of 25 year, the policy will terminate and nothing will be paid as maturity amount.

But in case of unfortunate death during policy term, 50,00,000 will be paid to policy holder's nominee. Following table indicates total premium paid and amount payable to nominee if death happens at 10th year of policy.

Policy Year Year Premium Paid(Rs. 11011 yearly) Amount Payable to Nominee
1 201611011 0
2 201722022 0
3 201833033 0
4 201944044 0
5 202055055 0
6 202166066 0
7 202277077 0
8 202388088 0
9 202499099 0
10 2025 110110 5000000

Above example explains the various aspects & benefits of Amulya Jeevan 2 policy and this plan is recommended for almost every one who wants to provide sufficient amount to his/her family in case of unfortunate death.

Comments & Reviews (73)

Wrote :

08-01-2022 09:48:46

Age 60 , Can I take 823 table Amulya jeevan policy, for how much term & How much will be installment premium

Wrote :

14-01-2022 12:57:57

Amulya Jeevan 823 is closed for sale, you can buy Lic Jeevan Amar.

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Wrote :

08-03-2020 22:12:50

If it is any one take amulya-2 823 plan,how many days after death coverage will be started.

Wrote :

08-03-2020 22:15:38

Coverage will start immediately after issuance of policy.

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Wrote :

21-01-2020 12:04:41

Any term plan for return of premium after maturity in LIC. Please suggest.

Wrote :

22-01-2020 20:17:59

There is no term plan with return of premium on maturity in LIC. Please understand that premium of term plan is calculated for amount to be paid in case of death and if return of premium feature to be added, then extra amount must be added in your premium to provide this feature. So you can simply take additional new endowment plan(814) to avail this feature or you can look other insurer in market to buy a term plan with return of premium feature.

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Wrote :

18-10-2019 16:11:02

In example it is clearly said that there is no benefit payable to nominee, till completion of 9 years. death benefit starts from 10th year till completion of term. No Maturity will be paid on completion against survival..

Wrote :

18-10-2019 22:55:59

It is not like that, it means that, if death happens in 10 year of the policy then death claim will be available to nominee. 10 years is just an example, it is any time after completion of death. In the above example it is assumed that death happens in 10th year for explanation purpose and yes, there is no survival benefit in pure term plans.

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Wrote :

15-03-2019 17:04:35

I NEED TO KNOW THAT BOTH ACCIDENTAL & NATURAL DEATH IS COVERED IN AMULYA JEEVAN 823 ?? What is the procedure to get claim if any thing happens to me any time ?

Wrote :

16-03-2019 03:01:15

Yes, accident is also cover. Nominee needs to visit the branch along with policy document, bank details, id proof, death certificate etc for claiming it.

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Wrote :

14-02-2019 22:52:01

Amulya jeevan for premium grace period available.

Wrote :

15-02-2019 13:59:01

Grace period is 30 days.

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Wrote :

06-01-2019 20:52:15

I m belong from Kolkata but because of my job profile I m in Nagpur and I want to purchase Amol jewan plan for 50 lakh.I want take it from any office of Kolkata but only for medical test purposes I did not want to go in Kolkata, is there any facility for medical test in Nagpur.

Wrote :

08-01-2019 13:36:00

You need to contact an agent or branch in kolkata, they will help you to issue policy in kolkata and arrange medical test in Nagpur. You will have to take Amulya Jeevan 2, as you are looking for 5000000 sum assured.

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Wrote :

28-12-2018 12:55:32

Hi, What is different between this Amulya Jeevan 2 and LIC ETerm plan? Is there any special benefit provided in this plan? Thanks, Akshay

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Wrote :

11-11-2018 00:31:00

Is policy no 823 i.e Amulya Jeevan covers all type of deaths (Accidental, natural and ...)?

Wrote :

11-11-2018 08:59:03

Natural and accidental deaths are covered.

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Wrote :

21-10-2018 20:23:34

पालिसी चलते दोरान पालिसी धारक अपंगता/विकलांगता हो जाता है तब क्या परिपक्वता राशि (SA)कब दिया जायेगा।

Wrote :

24-10-2018 14:45:18

Disability (apangata) cover nahi hai is plan me.

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Wrote :

10-10-2018 16:24:05

my father has taken this plan 3 years ago of 50 lakh sum assured he is a govrmnt teacher and he has died now in a our own car accident will i get my sum assured

Wrote :

10-10-2018 23:35:47

Yes, provided all premiums are paid on time and policy was in force at the time of death.

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Wrote :

03-10-2018 17:29:40

My son take LIC Amulya Jeevan-2 in 2016 of RS.25,00,000/- at present his income (Salary) increace he want to update is Sum Assured (Rs) ? its possibal

Wrote :

05-10-2018 22:08:38

You have to take a new policy.

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Wrote :

01-09-2018 21:43:29

What is the grace period in policy amulya jeewan 823

Wrote :

03-09-2018 00:55:56

30 days.

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Wrote :

30-08-2018 18:40:38

HI Sir, What If my death is happening on the 5th Term (5th year) I paid. Will my family nominee person full assured amount let's say 50 Lac?? Or it is applicable after completing 10 years?

Wrote :

31-08-2018 19:54:23

In case of death any time after commencement and before completion of term, Sum assured will be death claim amount, provided the policy is in full force (due premium is paid in time).

Wrote :

18-10-2019 16:17:53

As per the example given above no amount will be paid to nominee before completion of 9 years. Claim is applicable from 10th year onwards. please clarify.

Wrote :

18-10-2019 22:47:40

In the above example, 10 years is an example, death claim will be available in case of death at any time after issuance of this policy, for example, if your policy is issued on 18-10-2019, then death claim will be available from 18-10-2019 itself.

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Wrote :

09-08-2018 16:29:56

Is Sum Assured amount at time of receiving is tax exempt ?

Wrote :

09-08-2018 17:15:19

Yes, death claim amount shall be tax free.

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Wrote :

12-07-2018 16:54:13

what is grace period in Amulya Jeevan 2 ie. table 823

Wrote :

14-07-2018 21:12:45

30 days.

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Wrote :

21-04-2018 15:50:49

In one of your replies you had intimated that the risk cover startsfrom the moment of taking of policy. But in in illustration you have stated that the nominee will get the amount only on or after 10years. Does that mean that the nominee will get the amount only after 10 years from commencement even if the insured dies much before? Please clarify.

Wrote :

23-04-2018 12:44:27

Risk cover starts as the policy gets issued. The illustration is example where death happens in 10th policy year, but it can be any year during the policy term.

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Wrote :

30-03-2018 06:30:13

Can I get accident and disability riders with Amulya Jeevan. How much will be charged for the same.

Wrote :

30-03-2018 11:25:06

No, this rider is not available with this plan.

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Wrote :

08-01-2018 19:44:18

I am thinking to buy this (Amulya Jeevan 2 ) plan for my mother, age 58 yrs who is dependent on me, she faced pressure. Can I buy for her ??

Wrote :

09-01-2018 10:53:01

It will be difficult get this policy for her as she is not earning, but you may contact nearest branch for the same

Wrote :

06-02-2018 08:06:01

@Daino - why would you buy an insurance policy for her when she is dependent on you? Life Insurance is used for income replacement but not to create the wealth on a non-income member.

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Wrote :

09-12-2017 22:42:48

Sir my jevan amulya policy ko 3 premium halfyearly due ha kya me usko renwal nahi karwa kar new jevan amulya policy le skta hu

Wrote :

11-12-2017 10:29:54

Yes, You can take new policy.

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Wrote :

26-10-2017 19:31:30

what happens if a person takes amulya jeevan 2 823 and meets with a natural death next year?

Wrote :

27-10-2017 12:32:52

Risk commencent starts immediately after issue of policy.

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Wrote :

16-10-2017 09:00:23

T823 Amulya II. Suppose i taken policy paid 10 years myself survived. 13th year myself died. Nominee anything will get

Wrote :

16-10-2017 20:34:00

For death claim eligibility, policy must be inforce at the time of death. So if premium paid for 10 policy years and no premium paid for subsequent 11th, 12th and 13th year and death happens in 13th policy year then, NO death claim will be applicable.

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Wrote :

16-08-2017 10:51:48

I am about 45 years and my annual income is currently 4.8lakhs per year can I take amulya Jeevan II (823) please confirm

Wrote :

17-08-2017 09:55:47

Yes, You can take.

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Wrote :

30-07-2017 15:56:36

In amulya jeevan policy..if nothing happens till policy mature than can we receive the total paid amount? If we add that feature while taking amulya jeevan policy? Is there any way like this?

Wrote :

31-07-2017 11:43:41

In case survival of policy term, nothing is returned and there is no option of returning premium paid feature on survival of policy term.

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Wrote :

22-07-2017 19:57:12

If medical test have problem, will extra premium increaes or policy will be declined ?

Wrote :

23-07-2017 00:01:57

Either of the above two cases are possible, it will intimated after tests.

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Wrote :

28-06-2017 19:26:20

I want to take term plan 823 for SA 1cr. How much annual income required .age 29

Wrote :

28-06-2017 19:37:05

Income is not the only criteria for getting high sum assured, health conditions and types of profession is also considered for issuing policy, it is suggested to visit nearest lic branch and apply for the same.

Wrote :

05-07-2017 10:11:44

You can get 22 time Risk Cover of your annual Income . For any enqiry of lic Plan you can Cont.

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Wrote :

13-06-2017 15:18:26

I want to take Amulya Jeevan Ii for Rs 40 lakhs for 10 years term my age is 56 I Want single premium for ten years. What is the premium to be paid .

Wrote :

13-06-2017 15:48:58

Only yearly or half yearly premiums are allowed.

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Wrote :

31-05-2017 17:06:24

What's documents are required to purchase amulya jeevan 823 policy and what are medical test required??? Can I purchase if don't have ITR for 3 years

Wrote :

31-05-2017 22:06:15

Primary documents are PAN Card and address proof along with proof of income like salary slip. You can contact nearest branch to apply for it, in case LIC needs further documents, they will ask for it.

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Wrote :

29-05-2017 17:55:23

Is this amulya jeevan 2 policy covered natural death ?

Wrote :

30-05-2017 22:44:01

Yes, natural death is covered under this plan.

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Wrote :

21-04-2017 22:17:50

IN AMULYA JEEVAN POLICY(SUM ASSURED RS.-50000000) CAN I PAID PREMIUM BY AN LIC AGENT?

Wrote :

22-04-2017 00:12:53

Your question is not clear, please ask it clearly.

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