LIC Jeevan Amar Plan

The promise of a secure future lures many into short-term investments, which give instant returns but somehow fail 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 event of your demise. If you survive the policy tenure, the plan must give you assured returns.

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Upto Rs. 46800
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*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

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One such policy is LIC Jeevan Amar, a non-participating, non-linked, offline term insurance plan that gives all the benefits of a term insurance plan alongside promising death benefits to your family. 

*Tax benefit is subject to changes in tax laws.

Key Features of LIC Jeevan Amar 

  • The plan offers the flexibility to select from two benefits: Increasing sum assured and Level sum assured 

  • The plan provides special premium rates for women 

  • Attractive and unique rebates on high sum assured 

  • Accidental Rider benefits are also available that enhance the base coverage by paying an additional premium amount

  • You can choose payment of benefit in installments

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

Maximum - Rs. 25,00,000/-

Minimum – No Limit  


No liquidity options

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

Benefits of LIC Jeevan Amar Plan

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

  1. 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.

  2. Maturity Benefit

    No maturity benefit is payable upon the survival of the policyholder to the end of the policy tenure. 

  3. 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 a 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). 

  4. Tax Benefits

    The death benefit received* under LIC Jeevan Amar Plan is eligible for tax benefits as per the prevalent tax laws.

    *Tax benefit will be dependent on changes in tax laws

  5. The Premiums for LIC Jeevan Amar Plan

    The LIC Jeevan Amar Plan premium can be paid as a 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 of 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 the LIC Accident Benefit Rider to the existing base plan after the first two years of premium payment are complete. The rider applies 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.  

Policy Details 

Grace Period – 30 days of grace period is allowed for the payment of half-yearly or yearly premiums from the date of 1st unpaid premiums. In such cases, the policy shall be considered inactive with the risk coverage. In case of non-payment of premiums before the expiry of a grace period, the plan lapses. 

Revival – If in case the premium is not paid within the grace period, then the plan lapses. The policyholder has the option to revive the lapsed policy during the life assured’s lifetime but within a time of 5 consecutive years from the date of 1st unpaid premiums. 

Surrender Value – No value of surrender is available under this plan. However, in case of surrendering the LIC policy, the following amount will be refunded as follows: 

  • In regular premium plans, nothing will be refunded. 

  • In single premium plans, applicable refund will be paid during the plan term anytime 

  • In the Limited premium plan, any applicable refund will be paid if total premiums have been paid for at least 2 consecutive years (when PPT <10 years) and 3 consecutive years (when PPT is equal to or more than 10 years). 

Free Look Period – If the policyholder is not satisfied with the terms and conditions, features, and benefits of the policy, the plan may be returned to the insurer within 15 days from the policy receipt date. 

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 that is suitable for you and get the LIC agent to help you fill the policy document and submit it 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 a 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 an 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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