LIC Anmol Jeevan is a protection plan which provides financial aid to the family of the policyholder in case of unfortunate death. However, there are no maturity benefits given in the LIC Plan 822. The nominee will get the sum assured up to 24 lakh on the death of the insured at the course of the policy term.
This plan secures your family from financial issues and helps in their future expenditure. Now, let’s take a look at all the key features and benefits provided in LIC Anmol Jeevan Plan 822.
Table of Contents
Key features
- No surrender value
- High sum assured up to 24 lakhs
- Long term policy
- One month of the grace period
- Non-participating, pure term plan
- Premium payment mode with the yearly and half-yearly option
- No loan facility available
Benefits
Death benefit:
In case of unfortunate death of the life insured, the sum assured will be paid to the nominee during the policy in force.
Maturity benefit:
If the life insured survives successfully until the end of the policy term, no maturity benefit will be paid as it is a pure protection plan.
Income Tax benefit:
Tax benefits are applicable under Section 80C and claims received as per Section 10 (10D) of the Income Tax Act, 1961 on the premiums paid. LIC Anmol Jeevan Plan 822 also provides a tax-free death benefit.
Sum Assured: is between 6 lakh to 24 lakh
Discount: available on premiums annually
Affordable: premium on large covers
Eligibility
| Entry Age | Minimum- 18 years Maximum- 55 years |
| Sum Assured | Minimum- Rs.6 lakh Maximum- Rs.24 lakh |
| Policy Term Period | Minimum- 5 years Maximum- 25 years |
| Age on Maturity | Minimum- – Maximum- 65 years (nearest birthday) |
| Premium Payment Mode | Half-yearly or Yearly |
Exclusion
In case the policyholder commits suicide within 12 months from the date of commencement of risk or the date of revival, 80% of the premiums paid excluding taxes and extra premiums, if any, will be paid to the nominee. This is also subject to if the policy is active.
Any other claims except this will not be entertained by the company.
Final words
LIC Anmol Jeevan Plan 822 is an affordable plan. Individuals who want to give financial protection to their families after an unfortunate death can opt for this policy. It is a life cover insurance with sum assured up to Rs.24 lakh. There is also a very long term period of 25 years available in LIC Plan 822.
However, there is no loan facility available under this policy so you have to keep that in mind. Also, no maturity benefits are available due to its pure protection nature.
Life Corporation of India is a very reputed and trusted company. Basically it is owned by the government so there are almost no risks in their policies. You can rely on them as their trust factor is one of the best in the market. It is a leading insurance and investment company in the country.
For more information related to LIC Anmol Jeevan Plan 822, you can contact your nearest Life Corporation of India branch or Contanct the LIC Customer Care Number.
I’m Shiv Kumar, a graduate with a passion for finance, marketing, and technology. My journey into finance started with a desire to understand money management and investing.
Our main goal is to empower individuals through financial education. We believe that everyone should have the opportunity to build a strong financial foundation. Whether you’re a seasoned investor or just getting started, we provide articles, guides, and resources to help you navigate the financial landscape.
I invite you to join our community of financially savvy individuals. Feel free to ask questions, engage with our content, and explore the topics that matter to you. Together, let’s take control of our financial futures.
