LIC Jeevan Amar Plan

The promise of a secure future lures many into short-term investments, which give instant returns but somehow fails to give you a secure future. The answer to securing you and your loved ones' future is by going for an insurance policy that gives out definite death benefits in the unfortunate case of your demise. If you survive the policy tenure, the plan must give you assured returns. One such policy is LIC Jeevan Amar, a non-participating, non-linked, an offline term insurance plan that gives all the benefits of a term insurance plan alongside promising death benefit to your family.

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Get ₹1 Cr. Life Cover at just ₹411/month*
No medical
checkup required
Save more with
upto 10% discount**
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers

*Tax benefit is subject to changes in tax laws.

**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Get ₹1 Cr. Life Cover at just ₹411/month*
No medical checkup required
Save more with upto 10% discount**
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Eligibility for LIC Jeevan Amar Plan



Policy Tenure

10-40 years

Premium Paying Term

Regular Premium: Same as the policy term

Limited Premium:

10-40 years – Policy Term minus 5 years

15-40 years – Policy Term minus 10 years

Premium Paying Mode

Quarterly, Monthly, Half Yearly and Yearly

Entry Age

Min - 18 years (last birthday)

Max - 65 years (last birthday)

Maturity Age

80 years (last birthday)

Grace Period

30 Days

Sum Assured

Rs. 25,00,000/-  


No liquidity options

Benefits of LIC Jeevan Amar Plan

The following are the key benefits of LIC Jeevan Amar Plan:

Death Benefit: The main highlight of this policy is the death benefit, which is in absence of any maturity benefit. The demise of the policyholder is accompanied by lump-sum amount release as in death benefit, which for regular and limited premium payment plans, will be the highest of 7 times the annualized premiums paid or 105% of the premiums paid till death or the absolute sum assured to be paid on death. The death benefit for a single premium is defined as 125% of the single premium paid or absolute death benefit, whichever is higher.

Surrender Benefit: Limited surrender benefit is available under the LIC Jeevan Amar Plan. Please contact the LIC agent to know further details. Refunds are done upon surrender after the policy tenure of the first two years is completed. For a single premium, there is refund done as per conditions. The regular payment plan has no refund policy. The limited pay plan has a refund applicable only if the first two years payments are done on a timely basis (for policy term below ten years) and the first three years payments are done on a timely basis (for policy term above ten years). 

Tax Benefits: The death benefit received* under LIC Jeevan Amar Plan is eligible for tax benefits in accordance with prevalent tax laws.

*Tax benefit will be dependent on changes in tax laws

The Premiums for LIC Jeevan Amar Plan

The LIC Jeevan Amar Plan premium can be paid as single premium, regular pay mode or limited payment mode.

This plan can be activated through a single premium payment. The minimum payment amount is *Rs. 30,000/-.

The LIC Jeevan Amar policy can also be activated through regular payment and limited payment mode. The minimum premium amount is *Rs. 3000/-.   

*Standard T&C Apply

Since there is no maturity benefit or policy loan benefit applicable to this plan, the policyholder needs to understand carefully the pros and cons for opting for it. Please note that the death benefit that you opt for can be received in two forms: absolute sum assured or increased sum assured. 

Additional Riders for LIC Jeevan Amar Plan

Riders available for this plan are as follows:

  • The policyholder can add on the LIC Accident Benefit Rider to the existing base plan after the first two years of premium payment are complete. The rider is applicable to any instance of death by accident and adds the proceeds to the absolute sum assured that is released as a death benefit to your family.
  • The death benefit can be withdrawn from the policy by the beneficiary through separate installments spanning over a period of 5, 10, or 15 years. The value of sum assured is either level sum assured or increasing sum assured, and the Corporation communicates the proceeds in due course of time. One can stay in touch with the LIC agent to make the most of this rider.  

What are the documents required to buy this policy?

To buy LIC Jeevan Amar Plan policy, one has to provide:

  • Identity proof - Aadhar card, voter's card, and passport
  • Address proof- Aadhar card, driving license, electricity bill, ration card, voter's card, and/or passport
  • Income proof - such as Income tax returns or salary slips
  • Health records of the life assured

How can one buy this plan online?

Online LIC Jeevan Amar plan purchase option is not available. You can select the best option is suitable for you and get the LIC agent to help you fill the policy document and submit to the nearest LIC branch office for activation along with the required KYC documents.

Exclusions of LIC Jeevan Amar Plan

LIC Jeevan Amar Plan reviews show that the plan is a high-risk factor that needs absolute investment from the policyholder with no maturity benefit. This makes it inferior to the current LIC policies , which support death benefit and maturity benefit both.

The suicide clause is not entirely available as an exclusion under this plan and does not follow the standard protocols of the release of 80% of the premiums paid until death. Only in case of single premium, if suicide is committed within 12 months of commencement of risk, the Corporation releases as per claim for 90% of the premium paid. In Limited and Regular pay plans, the claim for 80% refund of premiums paid until death is entertained if the suicide happens within 12 months of risk inception or revival. For lapsed policies, no suicide exclusion is available.

LIC Jeevan Amar Plan - FAQs

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LIC Jeevan Amar Plan Reviews & Ratings

0 / 5 (Based on 3 Reviews)
(Showing Newest 3 reviews)
Hariyana, September 16, 2021
Tax savings
The term plan is beneficial to save the tax amount too. I have saved a lot of tax and got a rebate too under my plan. I am happy and it is a part of investment. I took the plan for the financial safety of me and my family. Thanks team for good plans.
Punjab, September 16, 2021
Time and money saving plans
I have saved a lot of money when I bought the term insurane plan online. I visited the policybazaar and check the premium calculator page. From there I searched for various good plans. I saved a lot of money and time too. I would recommend the policy to my friends and also tell them to buy a plan from policybazaar.
Amritsar, September 16, 2021
Customer experience team
Great to know that the customer care team of Policybazaar is superb and friendly. I opted a term plan from policybazaar and found it the best one. I was facing the issue related to name spelling and connected to policybazaar. The team immediately worked into my case and it was resolved. Thank you so much team Policybazaar.
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