Best Selling LIC Term Plan

New LIC Jeevan Amar 855

LIC's Jeevan Amar is a non-linked, non-participating, Life Term Assurance Plan. LIC Jeevan amar is much more flexible and has many wider options compared to existing term insurance plans.

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Key Features of LIC New Jeevan Amar

  • LIC Jeevan Amar allows you to choose between Level & Increased Sum assured
  • Lower premium rates for non-smoker lives.
  • Special premium rates for women.
  • Attractive High sum assured rebate.
  • Life cover until 80 years.
  • Accident benefit rider available during PPT under regular and limited premium policies.
  • Option to pay premium as Regular, Single or for limited period.
  • Option to take death benefit in lump sum and / or installment

Premiums paid towards New Jeevan Amar is eligible for Tax rebate under Section 80C each year upto Rs.1,50,000. The Maturity/ Death claim paid under Jeevan Amar is 100% Tax-free under Section 10(10d)

Eligibility Conditions And Restrictions

  • Entry Age : 18 to 65 years
  • Maximum Maturity Age : 80 years
  • Policy Term : 10 to 40 years
  • Premium Paying Term : Single / Regular / Limited
    &nbps;&nbps;&nbps;&nbps;&nbps; Term - 5 years for term 10 to 40 yrs
    &nbps;&nbps;&nbps;&nbps;&nbps; Term - 10 years for term 15 to 40 yrs.
  • Minimum Sum Assured : Rs.25,00,000
  • Maximum Sum Assured : No limit
  • Sum Assured : Multiples of 1,00,000 until 40 Lakhs
    &nbps;&nbps;&nbps;&nbps;&nbps; Multiples of 10,00,000 thereafter
  • Premium Payment : Yearly / Half yearly

Death benefit option

  • Level Sum Assured: Death Benefit remains level throughout the Policy term.
  • Increasing Sum Assured: Death benefit remains level during first 5 policy years, increases by 10% of BSA every years for the next 15 years or end of policy term and then remains level for the remaining policy term.
  • Death benefit can be taken in installments over chosen period of 5/10/15 yrs instead of lumpsum amount.
  • Flexibility to exercise the option in respect of full or part of claim proceeds.
  • Installments will be paid in advance subject to minimum installment amount
  • Flexibility to exercise the option at proposal stage or during currency of the policy

Premium payment options

  • Regular premium : PPT = Policy term
  • Limited Premium : PPT = Policy Term - 5
  • Limited Premium : PPT = Policy Term - 10
  • Single Premium : PPT = 1