LIC’s Anmol Jeevan II Plan 822
Plan Type: Regular Premium Paying Pure Protection Term Plan (Non-Participating)
Entry Age: 18 years (completed) to 55 years
Policy Term: 5 to 25 years
Sum Assured: Minimum ₹6,00,000 | Maximum ₹24,00,000
Maturity Age: Maximum 65 years
Withdrawn Date: 01.02.2020
Key Features & Benefits
Pure Protection
Financial security for your family during policy term.
Affordable Premium
High life cover at low premium cost.
Death Benefit
Full sum assured payable to nominee.
No Maturity Benefit
Pure term plan with no survival payout.
Tax Benefits
Tax deductions under Sections 80C & 10(10D).
No Loan Facility
Loan and surrender value not available.
The LIC Anmol Jeevan II Plan 822 is a pure term insurance plan introduced by the Life Insurance Corporation of India (LIC) to provide financial security to the policyholder’s family in case of an unfortunate death during the policy term. The plan offers a high sum assured at affordable premium rates, making it one of LIC’s simple and budget-friendly protection plans. It was launched in 2014 and later withdrawn on 1 February 2020.
LIC Anmol Jeevan II Plan 822 Calculator
LIC Anmol Jeevan II Plan 822 is a pure protection term assurance policy that helps financially protect the nominee if the insured passes away during the policy period. Since it is a pure term insurance plan, no maturity benefit is payable if the policyholder survives the policy term. The plan provides large life coverage at comparatively lower premium costs for individuals seeking financial protection for their families.
The LIC Anmol Jeevan II Calculator helps estimate the yearly or half-yearly premium amount based on factors such as age, policy term, and selected Sum Assured.
LIC Anmol Jeevan II Plan 822 – Plan Overview
| Parameter | Details |
|---|---|
| Plan Name | LIC Anmol Jeevan II |
| Plan Number | 822 |
| UIN | 512N285V01 |
| Launch Date | 2014 |
| Withdrawal Date | 1 February 2020 |
| Plan Type | Pure Term Insurance Plan |
| Insurer | Life Insurance Corporation of India (LIC) |
| Policy Term | 5 to 25 years |
| Sum Assured | Minimum ₹6,00,000 – Maximum ₹24,00,000 |
| Premium Payment Mode | Yearly and Half-Yearly |
| Entry Age | 18 years to 55 years |
| Maximum Cover Ceasing Age | 65 years |
| Maturity Benefit | Not Available |
| Death Benefit | Sum Assured payable |
| Surrender Value | Not Available |
| Tax Benefits | Applicable under Sections 80C and 10(10D) |
Key Features of LIC Anmol Jeevan II Plan 822
Pure Protection Plan
The plan provides financial support to the nominee if the policyholder dies during the policy period.
No Maturity Benefit
As this is a pure term insurance plan, no amount is paid if the insured survives till the end of the term.
Affordable Premium Rates
The plan offers higher life coverage at comparatively economical premium amounts.
Flexible Policy Duration
Policyholders can choose a policy term ranging from 5 years to 25 years according to their financial needs.
Convenient Premium Payment Options
Premiums can be paid either yearly or half-yearly based on convenience.
Tax Advantages
Premiums paid qualify for deductions under Section 80C, while death claim proceeds are exempt under Section 10(10D) of the Income Tax Act.
Simple and Easy-to-Understand Plan
Being a non-linked and non-participating policy, the plan is not affected by market fluctuations and remains straightforward to understand.
Benefits of LIC Anmol Jeevan II Plan 822
Death Benefit
If the life assured dies during the policy term, LIC pays the full Sum Assured to the nominee as a lump sum amount, helping the family handle financial difficulties.
Example
If a policyholder with a ₹20 lakh Sum Assured dies during the policy tenure, the nominee receives ₹20 lakh as the death claim amount.
Maturity Benefit
No maturity benefit is available under this plan because it is a pure term insurance policy. If the policyholder survives the policy term, no amount is payable.
Tax Benefits
- Premiums paid qualify for tax deductions under Section 80C.
- Death claim proceeds are exempt under Section 10(10D) of the Income Tax Act.
Flexible Premium Payment
Policyholders can pay premiums either yearly or half-yearly according to their convenience.
Higher Coverage at Affordable Premiums
LIC Anmol Jeevan II provides substantial life coverage at comparatively lower premium rates, making it suitable for middle-income individuals and families.
LIC Anmol Jeevan II Plan 822 Calculator
The LIC Anmol Jeevan II Calculator is an online premium estimation tool that calculates the payable premium based on:
- Age of the applicant
- Policy term (5 to 25 years)
- Sum Assured (₹6 lakh to ₹24 lakh)
- Premium payment mode (Yearly or Half-Yearly)
The calculator helps users understand premium costs and plan their finances more effectively.
Example Premium Calculation
Consider the following example:
| Particular | Example |
|---|---|
| Age | 35 years |
| Policy Term | 25 years |
| Sum Assured | ₹20,00,000 |
| Premium Mode | Yearly |
| Approximate Annual Premium | ₹11,700 + applicable taxes |
Including taxes, the yearly premium may come to around ₹13,900.
- If the policyholder dies during the policy term, the nominee receives ₹20 lakh as the death benefit.
- If the policyholder survives the full policy term, the policy ends without any maturity payout.
Eligibility Criteria of LIC Anmol Jeevan II Plan 822
| Criteria | Minimum | Maximum |
|---|---|---|
| Entry Age | 18 years completed | 55 years |
| Policy Term | 5 years | 25 years |
| Sum Assured | ₹6,00,000 | ₹24,00,000 |
| Maximum Cover Ceasing Age | — | 65 years |
| Premium Payment Mode | — | Yearly / Half-Yearly |
| Grace Period | — | 1 month |
Important Terms and Conditions
Free-Look Period
Policyholders get 15 days from receipt of the policy document to review the policy terms and cancel the plan if dissatisfied.
Grace Period
LIC provides a grace period of 30 days from the premium due date for premium payment continuation.
Policy Revival
If the policy lapses due to unpaid premiums, it can be revived within 2 years from the date of the first unpaid premium.
Surrender Value
No surrender value is available under this policy.
Loan Facility
Loan facility is not available because this is a pure term insurance plan.
Advantages of LIC Anmol Jeevan II Plan 822
- Simple and easy-to-understand policy structure
- Affordable life insurance coverage
- Flexible policy term options
- Choice of yearly or half-yearly premium payment
- Tax-saving benefits available
- Backed by LIC’s trusted reputation
Disadvantages
- No maturity benefit
- No surrender value
- No optional accident or disability riders
- Maximum coverage limited to ₹24 lakh, making it more suitable for moderate insurance needs
Comparison with Other LIC Plans
| Feature | Anmol Jeevan II (822) | Amulya Jeevan II (823) |
|---|---|---|
| Plan Type | Pure Term Insurance | Pure Term Insurance |
| Sum Assured Range | ₹6 lakh to ₹24 lakh | ₹25 lakh and above |
| Policy Term | 5 to 25 years | 5 to 35 years |
| Premium | Comparatively lower | Slightly higher |
| Death Benefit | Lump Sum Payment | Lump Sum Payment |
| Maturity Benefit | Not Available | Not Available |
| Suitable For | Moderate-income individuals | Higher-income individuals |
Who Should Consider This Plan?
LIC Anmol Jeevan II Plan 822 was suitable for:
- Individuals looking for affordable life insurance protection
- Families wanting financial support for dependents after the breadwinner’s death
- Young professionals seeking basic term insurance coverage
- People preferring simple protection plans instead of market-linked insurance products
Claim Procedure
Inform LIC
The nominee should immediately notify LIC after the policyholder’s death.
Submit Required Documents
Documents generally required include:
- Claim form
- Original policy document
- Death certificate
- Nominee identity proof
- Medical records (if applicable)
Claim Verification
LIC reviews and verifies all submitted documents before processing the claim.
Claim Settlement
After successful verification, LIC releases the death benefit amount to the nominee.
Reason Behind Plan Withdrawal
LIC discontinued Anmol Jeevan II Plan 822 on 1 February 2020 because:
- LIC introduced newer term insurance products such as LIC Tech Term Plan 854.
- The insurance industry shifted toward digital and more flexible protection plans with additional rider benefits and customization options.
Historical Background
LIC Anmol Jeevan II Plan 822 was introduced in 2014 as a replacement for the earlier Anmol Jeevan Plan (Table 164). The updated version offered improved clarity in policy conditions and better accessibility. The plan remained available until 2020 before being replaced by newer digital term insurance products.
Frequently Asked Questions (FAQs)
What is LIC Anmol Jeevan II Plan 822?
LIC Anmol Jeevan II Plan 822 was a pure term insurance policy that provided financial protection to the nominee if the insured person died during the policy term.
When was LIC Anmol Jeevan II Plan 822 launched and withdrawn?
The plan was introduced in 2014 and later discontinued on 1 February 2020.
What were the eligibility conditions under this plan?
- Entry Age: 18 to 55 years
- Policy Term: 5 to 25 years
- Sum Assured: ₹6 lakh to ₹24 lakh
What benefits were available under this plan?
The policy offered only death benefit protection and did not provide any maturity or survival benefits.
What premium payment options were available?
Premiums could be paid through:
- Yearly mode
- Half-yearly mode
Was any loan or surrender facility available?
No, the plan did not provide loan or surrender value benefits.
Were tax benefits available under LIC Anmol Jeevan II Plan 822?
Yes, premiums qualified for deductions under Section 80C, and death claim proceeds were exempt under Section 10(10D) according to prevailing tax laws.
Conclusion
LIC Anmol Jeevan II Plan 822 was a simple and affordable pure term insurance plan created for individuals seeking financial protection without any investment component. The plan focused entirely on providing life cover to protect the family financially during unforeseen situations. Although the policy has now been withdrawn, LIC currently offers several updated term insurance plans with enhanced features and broader coverage options.
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