Life Insurance Corporation (LIC) is India’s largest insurer. Apart from plethora of endowment, money back policies LIC also have 2 term insurance policies in its kitty.
Only difference between these two term insurance policies is the range of
sum assured. In case of Anmol Jeevan the min/max sum assured is Rs. 5 lakhs and Rs. 25 lakhs respectively. While in case of Amulya Jeevan the min sum assured is Rs. 25 lakhs and no upper limit. So, if you want to take life cover less than Rs.25 Lakhs than go for LIC Anmol Jeevan Term Insurance Policy and beyond Rs. 25 lakhs go for LIC Amulya Jeevan Policy.
sum assured. In case of Anmol Jeevan the min/max sum assured is Rs. 5 lakhs and Rs. 25 lakhs respectively. While in case of Amulya Jeevan the min sum assured is Rs. 25 lakhs and no upper limit. So, if you want to take life cover less than Rs.25 Lakhs than go for LIC Anmol Jeevan Term Insurance Policy and beyond Rs. 25 lakhs go for LIC Amulya Jeevan Policy.
Both of these are pure term policies and have no rider option. Policy holder doesn’t get any money if he survives the policy term, but that should not dissuade you from taking term insurance. Remember term insurance is the best insurance.
Note that premium for these term policies from LIC is more than similar policies from other insurers. However LIC has high claim ratio, so you get peace of mind by paying a bit extra. Claim ratio is the proportion of claims incurred to the premium underwritten by an insurer.
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