LIC's Anmol Jeevan II Plan 822

LIC Anmol Jeevan II Plan 822 is a pure term insurance policy launched by the Life Insurance Corporation of India (LIC), designed to provide financial protection to the policyholder’s family in case of unfortunate demise. It offers high life coverage at an affordable premium, making it one of LIC’s most straightforward and essential protection plans. The plan was launched in 2014 and withdrawn by LIC on February 1, 2020.​

LIC Anmol Jeevan II Plan 822 Calculator

The LIC Anmol Jeevan II Plan 822 is a pure protection term assurance plan designed to provide financial security to the policyholder’s family if the insured person unfortunately passes away during the policy term. This plan does not offer any maturity benefits if the policyholder survives the term. It is a low-cost way to ensure high life cover for individuals who want to safeguard their family’s financial stability.​

The Anmol Jeevan II Calculator helps you estimate the annual premium or half-yearly premium to be paid based on your age, policy term, and selected sum assured.

Plan Overview

Key Features

1. Pure Protection Term Plan:
   Provides financial protection to the nominee if the policyholder dies during the policy term.​
2. No Maturity Benefit:
   Since it’s a pure term plan, if the policyholder survives, no payout is made.​
3. Affordable Premiums:
   Offers high coverage amounts with reasonably low premium payments.​
4. Flexible Policy Tenure:
   You can choose a term ranging from 5 years to 25 years based on your needs.​
5. Flexible Premium Payment:
   Can be paid yearly or half-yearly as per convenience.
6. Tax Benefits:
   Premiums qualify under Section 80C, and death benefits are tax-free under Section 10(10D) of the Income Tax Act.​
7. Simple and Transparent:
   Being non-linked and non-participating, returns are not market-dependent, making the plan easy to understand.​

Benefits of the Plan

Death Benefit

If the insured passes away within the policy term, the sum assured is paid to the nominee as a lump sum, helping the family manage financial hardships.​

Example:
If a person insured for ₹20 lakh dies during the policy term, LIC pays ₹20 lakh to the nominee.

Maturity Benefit

There is no maturity benefit because it is purely a term insurance plan. If the person survives, no returns or bonuses are paid.​

Tax Benefits

• Premiums paid are eligible for deduction under Section 80C.
• Death benefit received is exempt under Section 10(10D).​

Premium Flexibility

Premiums can be paid annually or half-yearly, offering flexibility to policyholders.​

High Coverage at Low Costs

LIC Anmol Jeevan II offers substantial life coverage at a very nominal cost, suitable for middle-income families.​

LIC Anmol Jeevan II Plan 822 Calculator

The Anmol Jeevan II Calculator is an online tool designed to estimate your premium amount based on:

• Age of the proposer
• Policy term (5–25 years)
• Sum assured (₹6–24 lakhs)
• Payment mode (Yearly or Half-Yearly)

This calculator helps you find the exact premium payable for the chosen coverage period and ensures better financial planning.​

Example of Calculation

Let’s take an example:

• Age: 35 years
• Policy term: 25 years
• Sum assured: ₹20,00,000
• Premium mode: Yearly

Approximate annual premium: ₹11,700 (plus taxes), making the total around ₹13,900 per year.​

If the person dies within the term, the nominee receives ₹20,00,000 as the death benefit.

If he survives the full 25 years, the plan simply expires without any maturity benefit.

Eligibility Criteria

Important Terms and Conditions

1. Free-Look Period:
   Policyholders have 15 days (from the date of receipt of the policy document) to review the terms and cancel if unsatisfied.
2. Grace Period:
   LIC provides a grace period of 30 days to pay the premium after the due date.​
3. Revival of Policy:
   If the policy lapses due to non-payment, it can be revived within 2 years from the date of the first unpaid premium.
4. Surrender Value:
   There is no provision for surrender value in this plan.
5. Loan Facility:
   No loan facility is available since it’s a pure term plan.

Advantages of the Plan

• Simple and transparent structure.
• Very low-cost life cover.
• Flexibility in choosing term and payment frequency.
• Useful tax exemptions.
• Reliable brand — LIC of India.

Disadvantages

• No maturity or surrender value.
• No accident or disability rider (optional coverage not available).
• Coverage limited up to ₹24 lakh—suitable mainly for moderate insurance needs.

Comparison with Other LIC Plans

Who Should Buy This Plan?

LIC Anmol Jeevan II Plan 822 is ideal for:

• Individuals seeking affordable life insurance coverage.
• Families where the breadwinner wants to secure dependents’ future in case of an untimely death.
• Young professionals looking for basic protection.
• People preferring stability and simplicity rather than investment-linked policies.

Claim Process

1. Inform LIC:
   Notify LIC about the policyholder’s death as soon as possible.
2. Submit Documents:
   Submit claim form, death certificate, policy document, identity proof of nominee, and medical records (if applicable).
3. Verification:
   LIC verifies claim documents.
4. Payout:
   After successful verification, the death benefit (sum assured) is released to the nominee.

Reasons for Withdrawal

LIC withdrew the Anmol Jeevan II Plan on 1 February 2020 due to:

• Launch of newer and more comprehensive term plans like LIC Tech Term Plan (854).
• Industry shift toward digital and customized protection plans offering riders and flexible options.​

Historical Overview

When launched in 2014, Anmol Jeevan II replaced the older Anmol Jeevan (Table 164). The updated version (Table 822) came with digital accessibility and clarified benefit conditions. It continued until 2020 before being replaced by newer-generation digital term plans.​

Frequently Asked Questions (FAQs)

Conclusion

LIC Anmol Jeevan II Plan 822 was an excellent pure term insurance plan for individuals seeking affordable life coverage without investment components. It ensured that a family’s financial future remained protected in uncertain times. Although the plan has been withdrawn, similar and more advanced plans now exist under LIC’s product lineup.