Before that you can check out the old Anmol Jeevan and Amulya Jeevan policy details here.
LIC New Amulya Jeevan-II term insurance policy
a) Benefits : As this is a pure term plan, only on death of the insurer during the policy life will get the sum assured . On maturity you will not get any single penny.
b) Eligibility, Details and Exclusions
Minimum Policy Term : 5 years
Maximum Policy Term : 35 years
Minimum Sum assured : Rs 25,00,000
Maximum sum assured : No limit
This policy does not include any surrender value and paid up value. Also no loan option is available.
c) Premium Calculation:
The premium rates for thsi policy is almost similar to the old Amulya Jeevan. Although it will be little lesser this time, but if you compare with market LIC’s term plan’s premium rates are always much more higher than other popular term insurance plans in India.
Find out the premium chart taken from LIC website.
Annexure I and Annexure II
Don’t Miss How to choose the best term insurance plan in India
Now if a person of age 30 years want to buy this policy for a sum assured of Rs.1,00,00,000 and the policy term is 25 years, then as per old Amulya Jeevan it would cost Rs.29,200 yearly. But now it is costing around Rs.22,028 (claiming to be inclusive of tax) for new Amulya Jeevan II. At the same time if you checkout for other term insurance plans outside LIC, then you will get the same policy in very less price e.g. less than Rs 5000 only.