LIC's Amulya Jeevan_I (Plan No. 190, UIN : 512N250V01)

LIC's Amulya Jeevan_I (Plan No. 190, UIN : 512N250V01)

 LIC Plan 190 refers to the now-withdrawn Amulya Jeevan I, a pure term insurance plan offering high life cover (minimum ₹25 lakh) with no maturity benefit, designed for financial protection where the Sum Assured is paid only on the policyholder's death, with premiums available yearly, half-yearly, or single, and tax benefits under Sections 80C and 10(10D) applicable. 

Key features of LIC's Amulya Jeevan I (Plan 190):

• Plan type: Pure protection term assurance plan.
• Objective: Provide financial protection if the insured dies during the policy term.
• Withdrawal date: January 1, 2014. 

Benefits:

• Death benefit: The nominee receives the Sum Assured upon the policyholder's death.
• Maturity benefit: No payout if the policyholder outlives the policy term.
• Tax benefits: Premiums qualify for deductions under Section 80C, and claims are tax-exempt under Section 10(10D). 

Eligibility and terms (for the original plan):

• Entry age: 18 to 60 years.
• Policy term: 5 to 25 years.
• Sum Assured: Minimum ₹25 Lakhs, with no upper limit (in multiples of ₹1 Lakh). 

Premium and lapsing:

• Premium payment: Yearly, half-yearly, or single premium.
• Lapse and revival: Policies could lapse for non-payment but allowed revival within a specific period. 

Who it's for:

• Individuals needing high life cover at low cost.
• Those comfortable with a pure protection plan without maturity payouts. 

Note: Since Plan 190 (Amulya Jeevan I) is withdrawn, newer versions like Amulya Jeevan II or other contemporary term plans from LIC offer similar protection with updated features and pricing.