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LIC Jeevan Amar plan is a non-linked, non-participating, without profit, offline pure protection term insurance plan. With several benefits, LIC Jeevan Amar ensures to protect your family's dreams.
The plan provides complete protection to the family members at affordable price, and offers financial support in the event of the insured's unfortunate demise within the policy tenure.
Continue reading to explore more about the LIC Jeevan Amar plan, its benefits and many more:
LIC Jeevan Amar Plan No. 855
Min: 18 years
Max: 65 years
80 years
10 to 40 years
Single premium, Regular premium, Limited premium
Rs. 25,00,000
The LIC Jeevan Amar Plan offers a number of advantages that makes it one of the best options for people wishing to protect the financial needs of their families. Some of the important benefits offered by this plan are listed below. Look at this:
The premium payable is largely
LIC Jeevan Amar plan allows
To let policyholders avail additional
LIC Jeevan Amar Plan offers attractive rebates
The premium payable is largely dependent on factors such as age at entry of policyholder [as specified in the eligibility criteria], policy term, gender, smoking status, and sum assured, among others.
The policyholder has the option to choose from single, regular or limited premium payment. The table highlights the specificities associated with each option.
Features | Single Premium Payment | Regular Premium Payment | Limited premium Payment |
Mode of Payment | Lump Sum | Yearly/Half-yearly | Yearly/Half-yearly |
Minimum Premium | Rs. 30,000 | Rs. 3,000 | Rs. 3,000 |
LIC Jeevan Amar plan allows for flexibility in choosing the death benefit payout viz. Level Sum Assured and Increasing Sum Assured. The plan comes in two variant:
Thereafter, the sum assured becomes constant for the remainder of the policy term.
To let policyholders avail additional coverage, LIC Jeevan Amar Term plan offers several optional benefits that help the policyholder to customize their plan as per their needs and requirements. The available optional benefits are:
LIC Jeevan Amar Plan offers attractive rebates on higher sum assured. Policyholders can avail of significant discounts on their premiums if the sum assured at policy inception is Rs. 1 Crore or above.
In order to help you make an informed decision, we bring to you a sample illustration of the annual premiums payable under the two death benefit options discussed above.
As an example, we have considered a non-smoker male who has chosen a life cover at a basic sum assured of Rs. 50 Lakhs.
Age of Policyholder (in years) Policy Term (in years) | Premium Payable (in Rs.) | ||
Level Sum Assured | Increasing Sum Assured | ||
20 | 20 | 4,356 | 5,715 |
30 | 20 | 5,940 | 8,415 |
40 | 20 | 11,475 | 17,664 |
Age of Policyholder (in years) Policy Term (in years) | Premium Payable (in Rs.) | ||
Level Sum Assured | Increasing Sum Assured | ||
20 | 20 | 48,928 | 63,720 |
30 | 20 | 66,088 | 94,095 |
40 | 20 | 1,27,395 | 1,95,868 |
Mentioned below are some of the conditions which are not covered under the plan.
LIC is not liable to pay the sum assured under its Accident Benefit Rider if the death of the Life Assured occurs as a result of the following:
Know more about LIC Term Insurance, its claim process, buying process, and contact details by clicking on the sections below:
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Comprehensive Plan
LIC Saral Jeevan Bima is a standard term plan that offers financial security to your family at affordable rates and provides sum assured up to Rs. 25 Lakhs.
Unique Features
Comprehensive Plan
The plan offers death benefits in 4 types of instalments and comes with a Settlement Option. It offers premium payment flexibility as well.
Unique Features
Specialized Plan
A pure protection term plan that protects your family's financial needs after your demise. The plan is available online only, and comes with several benefits.
Unique Features
LIC Insurance Contact Address
Yogakshema Building, Jeevan Bima Marg, P.O. Box No - 19953, Mumbai - 400 021 IRDAI Reg No- 512.
LIC call center: 022 6827 6827
(Monday to Friday: 08.00 a.m. to 08.00 p.m. / Saturday: 10.00 a.m. to 06.00 p.m.)
Yes, as per the prevalent income tax laws, one can avail tax benefit on LIC Jeevan Amar Plan
No, since the policy does not have any maturity benefits, one cannot avail policy loans with LIC Jeevan Amar plan.
If chosen for monthly premium payments, the LIC Jeevan Amar policy has no surrender value. However, if a single premium is paid, the applicable refund amount will be paid during the policy tenure.
When paying a limited premium, a refund will only be handled if the following conditions are met:
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