Introduction
LIC has two term insurance plan active as of today. The details of the plans are as below
As per IRDA report 2015-2016
LIC has settled 98.31% of the 755901 claims they received.
Anmol Jeevan 2 (Table No.822)
Age: 30 years
Term: 25 years
Sum Assured: 10,00,000
Premium: 4177 per year
Amulya Jeevan 2 (823)
(The plan is also know an the LIC term insurance plan for 1 crore. Please find details of the plan if you want to buy a plan that has 1 crore as the death benefit.)
Age: 30
Term: 35
Sum Assured: 10,00,00,000
Premium: 32096
LIC term plan calculator
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[contact-form-7 404 "Not Found"]Things to consider while buying a term insurance plan
- There is no lic term plan with maturity benefit. If you are looking for a insurance plan with maturity benefit please evaluate other policies.
- The best term insurance plan is one that gives yous the maximum benefit in smallest premium. Please understand that a term plan is NOT an investment instrument or a tool to create a corpus.
- The ONE and ONLY purpose of a term insurance plan is to give your family the assured amount in case of your death.
What is Term Insurance
Term Insurance in simple terms is the assurance that your family will get a fixed amount in case of your untimely death. You pay a very nominal amount every year and have yourself insured for a fixed amount. No maturity benefit is available in these kind of plans.
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