LIC Amulya Jeevan II Plan
LIC of India
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LIC Amulya Jeevan II Plan

LIC Amulya Jeevan II plan has been withdrawn by LIC and is not available for sale and purchase.

LIC's Amulya Jeevan II Plan is a pure term protection plan that offers financial protection to the family of the policyholder in the event of his/her unfortunate death. The plan offers higher value life cover at an affordable premium.

This plan doesn't provide any maturity or survival benefit at any time during the policy tenure or after the culmination of the policy since it is designed to provide life cover only i.e. the plan only offers death cover or death benefits. If the policyholder meets with death at any time during which the policy is in force then LIC will give the Sum Assured on death amount to the nominee(s) of the policyholders.

The Amulya Jeevan II pure term plan is a non-participating and non-linked plan i.e. the policy does not participate in the profits of LIC and is not linked with units of any financial measurements. It is a pure life cover plan for the applicants who want to secure the future of their family and dependents in their absence due to unfortunate death.

The Amulya Jeevan II plan is an offline plan which subscribers need to purchase through any of the agents or outlets.

Key Features of LIC Amulya Jeevan II Plan

  • Pure Term plan, offers death benefit only and no maturity benefit.

  • Offers high Sum Assured to meet the financial needs and flexibility to increase the cover.

  • Long-term policy tenure range upto 35 years can be chosen.

  • Various options of premium paying modes that can be annual or bi-annual.

  • To make the premium payments on time, a whole one month grace period is provided to the insured person.

Benefits of LIC Amulya Jeevan II Plan

  • High Sum Assured starts from a minimum of Rs. 25 lakhs can be chosen making it appropriate for the policyholder to increase the cover anytime.

  • Premium discounts are available for annual mode.

  • Flexibility of choosing policy tenure ranges between 5 and 35 years.

  • Non-participative, non-linked plan, can only be purchased offline.

  • Provisions for policy revival.

  • Death Benefit, payable to the beneficiary(s) is provided by the policy to ensure the well-being of the insured’s family in the event of his/her demise during the policy term.

  • Amulya Jeevan-II Plan investments are liable to tax benefits. Tax-free claims as per Section 10 (10D) of the Income Tax Act, 1961 and tax benefits on premiums paid under Section 80C of the Income Tax Act, 1961.

Eligibility of LIC Amulya Jeevan II Plan

Minimum age limit18 years (completed)
Maximum age limit60 years (nearest birthday)
Maximum cover ceasing age70 years (nearest birthday)
Minimum Sum AssuredRs. 25 lakhs
Maximum Sum AssuredNo limit
Minimum policy term5 years
Maximum policy term35 years
Minimum premiumBased on the policy term, premium payment mode and the Sum Assured chosen by the customer.
Maximum premiumBased on the policy term, premium payment mode and the Sum Assured chosen by the customer.

Premium Details of LIC Amulya Jeevan II Plan

The annualized premium rates for every Rs. 1000 Sum Assured of Amulya Jeevan-II Plan is illustrated in the below sample table:

Policy term (in years)Age of Policyholder (in years)
Annual Premium Rates on Rs. 1000 Sum Assured (Rs.)

Things You Need to Know

Sum Assured and Premium

Greater the Sum Assured higher the premium amount. How much life cover should a person opt for? Going by the rule of thumb it should be what can be availed for at least 1% yearly payment of a person’s annual income. So if a person earns an income of Rs. 3.6 lakhs yearly, then he can opt for a minimum life cover of Rs. 25 lakhs at an annual premium of around Rs. 3600.

Free Look Period

LIC offers a free look period of 15 days where the insured can read through the policy document thoroughly and if they are not satisfied with any clause they can cancel the policy. LIC will return the first premium, post applicable deductions like the proportionate risk premium for the cover period, stamp duty charges, and other reports if provided.

Surrender Benefit

Surrender Value benefit is not available in Amulya Jeevan-II plan. If the policyholder surrender before the end of the tenure, he/she will not receive any surrender benefit.

Age and Premium

Greater the policy holder’s age more the premium amount. Hence LIS advises people to get insured as early as possible so as to avail benefits of maximum life cover at minimum premiums.

Paid-up Value

The policy is not subject to a paid-up value.

Riders and Loan Facility

There are no add-on riders and loan facilities available for this plan.

Backdating Interest

The policy can be dated back to the same financial year.


Amulya Jeevan-II Plan provides assignment and nominations facility.


If the policyholder commits suicide within 12 months from the date of purchase, only 80% of the premiums paid by the policyholder till the death date will be returned to the nominee(s) if the policy is in force.

Documents Required for LIC Amulya Jeevan II Plan

The essential documents required for Amulya Jeevan II Plan are proof of your age, address, identity, address, health and income proofs:

  • Aadhaar Card

  • PAN Card

  • Passport

  • Voter ID

  • Ration Card

  • Certificate of Birth

  • Matriculation Certificate

  • Income Documents

  • Electricity and Gas Bills

  • Bank Statement

  • Blood and urine test reports, and

  • Photographs


Policy can be revived anytime after 2 consecutive years of the first unpaid premium before the policy reaches its expiry date.

12% of service tax is applicable in this policy.

No concession for claims and an extended claim is offered by the plan.

No, it is not possible. Only yearly and half-yearly premium payment modes are allowed under the plan.

Last updated on 06-11-2020