Key Features of LIC Jeevan Amar Plan
Flexibility to Choose Benefit Option
This plan offers policyholders the flexibility to choose from two benefit options: Level Sum Assured and Increasing Sum Assured.
Choice of Premium Payment Term
LIC Jeevan Amar Plan provides an option to choose from 'multiple premium payment terms'.
Choice of Policy Term
LIC Jeevan Amar Plan offers the option to choose the policy tenure.
Lower Premiums for Females
LIC Jeevan Amar Plan offers lower premium rates for female policyholders.
Death Benefit Payout Options
LIC Jeevan Amar plan allows for flexibility in choosing the death benefit payout viz. Level Sum Assured and Increasing Sum Assured.
Optional Benefits
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.
Rebates on High Sum Assured
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.
Tax Benefits
LIC Jeevan Amar Plan offers term insurance tax benefits under Section 80C of the Income Tax Act, 1961 for up to 1.5 lakhs of the total premium paid in the same financial year.
Riders Available with LIC Jeevan Amar Plan
You can add the following riders to your LIC Jeevan Amar Plan:
LIC's Accident Benefit Rider
In case of the policyholder's demise due to an accident, benefits are paid to their nominee.
Exclusions
- Death due to a pandemic is not covered by the company.
- Death due to adventure sports.
- Death due to consumption of drugs and alcohol.
- Death due to any pre-existing disease not disclosed at policy inception.
- If a policyholder commits suicide within the first 12 months of purchasing the policy, then no death benefits are paid to their nominee. Either premiums paid to date or the surrender value of the policy, whichever is higher, is paid to them.
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