LIC Jeevan Amar

LIC Jeevan Amar plan is a non-linked, non-participating, without profit, offline pure protection term insurance plan. The plan is ideal for policyholders looking for exhaustive but financial support for their family in the event of the insured's unfortunate demise within the policy tenure.

Key Features of LIC Jeevan Amar Plan

1. Premium Payment Options

   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, 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

2. Death Benefit

   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 three variants

   Level Sum Assured: The sum assured to be paid on the death of the policyholder remains intact throughout the policy tenure.

   Increasing Sum Assured: The amount payable under this option remains constant for the first 5 years of the policy period. From the 6th year, the amount increases by 10% till the 15th year. Thereafter, the sum assured becomes constant for the remainder of the policy term.

   * Please note that the death benefit option chosen at the time of inception, cannot be changed later by the policyholder or the claimant.

   In the table below, we have further attempted to summarize the amount payable to nominees in the event of the death of the policyholder. The sum assured depends on the premium payment option opted for by the insured.

   Premium Payment Options

   Regular & Limited Premium Payment	Single Premium Payment
   Sum Assured Payable on Death	Single Premium Payment
   7X of annualised premium 105% of all the paid premiums till the date of death Absolute sum assured	Sum Assured Payable on Death 125% of the premium paid Absolute amount assured

   LIC Jeevan Amar Sample Premium Illustration

   The tables below illustrate sample premiums payable under different death benefit options by a non-smoker male who has opted for Regular Premium Payment at a basic sum assured of Rs. 50 Lakhs.

   Level Sum Assured

   Age of Policyholder	Policy Term	Annual Premium
   20	20	Rs. 4,356
   30	20	Rs. 5,940
   40	20	Rs.11,475

   Increasing Sum Assured

   Age of Policyholder	Policy Term	Annual Premium
   20	20	Rs. 5,715
   30	20	Rs. 8,415
   40	20	Rs. 17,664

3. Death Benefit in Instalments

   The family of the policyholder has an option to receive the death benefit through regular instalments of 5, 10, and 15 years. This remarkable feature ensures that the family has a regular source of income to support their needs even after the death of the Life Assured.

   The table below lists the minimum instalment amount payable under each mode of payment.

   Monthly	Rs. 5,000
   Quarterly	Rs. 15,000
   Half-Yearly	Rs. 25,000
   Yearly	Rs. 50,000

   Note: High Sum Assured rebate as a percent of Tabular Annual / Single Premium

   Increasing Sum Assured

   Age of Policyholder	Less than Rs 50 Lakh	Rs 50 Lakh to less than Rs 1 Crore	Rs 1 Crore and above
   Up to 30 years	NA	10%	18%
   31 to 50 years	NA	8%	13%
   51 years and above	NA	4%	6%

   Note: High Sum Assured rebate as a percent of Tabular Annual / Single Premium

Benefits of LIC Jeevan Amar Plan

Optional Rider Benefits

The Jeevan Amar plan allows policyholders to enhance their coverage through LIC Accident Benefit Rider by paying an additional premium.

If availed, the rider sum assured is paid in lump sum along with the assured death benefit in case of death in an accident or as a result of one.

The rider can only be bought by those who have opted for Regular or Limited premium payment options.

Eligibility Criteria of LIC Jeevan Amar

Exclusion Criteria Under Jeevan Amar Term Plan

Mentioned below are some of the conditions which are not covered under the plan.

• This policy shall stand void if the Life Assured commits suicide within 12 months from the date of commencement of the policy or within 12 months from the date of revival.
• LIC does not entertain claims except for 80% (90% in case of single premium payment policy) of the premiums paid (excluding any extra amount if charged under the policy due to rider premiums) till the date of death.

Exclusions Under Accident Benefit Rider

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:

• Intentional self-injury, attempted suicide, insanity or immorality or if the Life Assured was under the influence of liquor, drug, or narcotic;
• Whilst engaged in aviation or aeronautics;
• Injuries from taking any part in riots, civil commotion, rebellion or war, invasion, hunting, mountaineering, racing of any kind, paragliding or parachuting, taking part in adventurous sports;
• The Life Assured breaching law with criminal intent;
• Employment in the armed forces,
• Death occurs after 180 days from the date of the accident.