Prices Increasing soon Prices Increasing Soon

Review of LIC New Jeevan Amar Plan

“After my husband’s death, we were under great financial stress. To avoid such financial hardships in the future, I decided to buy a term plan for my kids. Being the sole earning member of the family, I believe I have to provide financial stability to my family. Hence, I bought the LIC New Jeevan Amar plan. I am sure that if something happens to me, my kids will be able to fulfill their dreams and can live independently.” – Mrs. Revti Arya 

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
+91
Secure
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

After the unfortunate death of Mrs. Revti Arya’s husband, her family struggled financially. She was facing trouble paying the school fees of the kids, outstanding loans, and other day-to-day expenses. However she was able to use her income to get her family’s financial situation back on track. Now, after two years of her husband’s death, she decided to buy LIC Term Insurance for herself to prevent the financial hardships she and her family faced after an unfortunate event. After doing her research, she decided to buy LIC New Jeevan Amar Plan. 

LIC Jeevan Amar is a pure risk protection term plan that is designed to provide financial protection to the family in case of the unfortunate death of a policyholder. This term insurance plan is offered by LIC of India and ensures your family’s financial stability even in your absence.

About Life Insurance Corporation (LIC)

LIC, or Life Insurance Corporation, is one of India’s oldest insurance providers, offering insurance coverage to individuals of all backgrounds. With a CSR of 98.74%, LIC is one of the most reliable insurers in the country that settles most of the claims received in the financial year. The company provides savings, protection, endowment, ULIP, and pension plans for you to choose the most suitable plan for your needs.

Let us explore the features and benefits of LIC New Jeevan Amar Plan that helped Mrs. Revti to make a decision:

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

What are the Features of LIC’s New Jeevan Amar Plan?

Here is a list of all the features of LIC New Jeevan Amar that convinced Mrs. Arya to purchase the plan.

  • You can choose from two death benefit options as per your suitability

  • LIC New Jeevan Amar offers special rates for female customers and non-smokers

  • Choose a flexible policy term from 10 to 40 years

  • Pay the premiums in a single, limited, or regular premium payment tenure

  • Choose to receive the benefit amount in a lump sum or in regular installments paid over a period of 5 years

  • You can include LIC’s Accident Benefit Rider to the base plan to enhance its coverage

  • Receive tax benefits under sections 80C and 10(10D) of the Income Tax Act

Benefits of LIC New Jeevan Amar Plan

LIC of India offers the following benefits with its Jeevan Amar Plan

  1. Death Benefit

    The death benefit will be paid to the nominee in case of the unfortunate death of the policyholder during the policy term. The benefit paid 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. Sum Assured

    There are two sum assured options available and you can select the most suitable option as per your requirements. The benefit option once selected cannot be changed therefore you should make your choice wisely.

    • Option 1: Level Sum Assured
      The sum assured on death once selected will stay the same throughout the policy term.

    • Option 2: Increasing Sum Assured
      The sum assured on death will remain the same for the first 5 policy years. Fifth policy year onwards, the sum assured will increase by 10% till the fifteenth policy year, until the basic sum assured has doubled in amount.

  3. Add Riders for Enhanced Protection

    There is only one rider available in the LIC New Jeevan Amar plan and you can include the following rider to the base term plan to increase its coverage.

    • LIC Accident Benefit Rider: The rider can be availed only under the limited and regular premium payment options. Under this rider, in case of your unfortunate death due to an accident, the rider benefit will be paid in lump sum along with the selected death benefit.

  4. Surrender Benefit

    The LIC Jeevan Amar Plan offers surrender benefits only for the Limited Pay option. The benefit is paid provided the first two years' premiums are paid (for policies with tenure less than ten years) and the first three years' premiums are paid (for policy tenure above ten years).

  5. Tax Benefits

    The premiums paid and the death benefit received under LIC Jeevan Amar Policy are eligible for tax benefits as per the prevalent tax laws.

one crore term plan

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

Eligibility Criteria of LIC Jeevan Amar

Let us see the conditions that made Mrs. Arya eligible to buy the LIC Jeevan Amar Plan

Parameters Minimum Maximum
Entry Age 18 years 65 years
Maximum Maturity Age 80 years
Basic Sum Assured Rs. 25 Lacs No Limit
Policy Term 10 years 40 years
Premium Paying Term Regular, Limited, and Single Pay
Premium Payment Modes Yearly or half-yearly
Grace Period 30 days
Free Look Period 30 days

Summing it up

Having a term insurance plan is one of the best ways to ensure your family’s security after your death. Just like Mrs. Revti, many customers are willing to secure the financial future of their loved ones and are buying LIC New Jeevan Amar Plan. The plan’s wide range of benefits and affordable premiums is what makes this plan the number 1 choice for most customers.

FAQs

  • Q: What is the maturity benefit under LIC New Jeevan Amar Plan?

    Ans: There is no maturity benefit available under the LIC Jeevan Amar Plan.
  • Q: Can I buy a LIC Jeevan Amar plan for my 15-year-old child?

    Ans: No, you cannot. The eligible age to buy LIC Jeevan Amar is 18 years to 65 years.
  • Q: Can I avail loan facility under LIC New Jeevan Amar Plan?

    Ans: No, you cannot avail loan facility under LIC New Jeevan Amar Plan.
  • Q: What are the death benefits of Jeevan Amar?

    Ans: The death benefits for the Jeevan Amar plan depend on the premium payment term you have selected. On death during the policy term, the higher of the absolute sum assured or 105% (for limited and regular pay)/125% (for single pay) of the annual premium will be paid on death.
  • Q: Which is better: Jeevan Amar or tech term?

    Ans: Both LIC Jeevan Amar and LIC Tech Term are pure protection plans offered by LIC term insurance. You can go through the benefits of both term plans and purchase the one that is most suitable for your lifestyle.
  • Q: Is a medical test required for LIC Jeevan Amar?

    Ans: Yes, you have to undergo a medical test to purchase LIC Jeevan Amar. Since the plan offers special premium rates for non-smokers, customers have to take a Urinary Cotinine test to avail of the non-smoking premium rates.
  • Q: What is the grace period for the Jeevan Amar policy?

    Ans: The grace period for the LIC Jeevan Amar policy is 30 days for the yearly and half-yearly premium payment modes available in the limited and regular premium payment term options.
  • Q: What is the difference between LIC Tech Term and Jeevan Amar?

    Ans: LIC Jeevan Amar is a term insurance plan that can only be purchased offline whereas the LIC New Tech Term Plan can only be purchased online. The minimum sum assured on LIC Jeevan Amar and LIC Tech Term plans are Rs. 25 Lacs and Rs. 50 Lacs respectively.
Premium By Age

Term insurance articles

  • Recent Article
  • Popular Articles
26 Feb 2024

आदित्य बिड़ला टर्म...

आदित्य बिड़ला एक भारतीय

Read more
26 Feb 2024

Kotak 2 Crore Term Insurance

Securing your family's financial future involves detailed

Read more
26 Feb 2024

Tata AIA 2 Crore Term Insurance

Protecting your family's financial future requires careful

Read more
26 Feb 2024

PNB 1 Crore Term Insurance

Ensuring your family's financial future requires careful

Read more
26 Feb 2024

Max Life Insurance 75 Lakh Term Insurance

Secure your family's financial future by planning for the long

Read more
07 Mar 2014

1 Crore Term Insurance - Buy ₹1 Cr Term Insurance Plan...

Term insurance is a type of insurance plan that offers financial security to your loved ones in the event of your

Read more
12 Jun 2018

Claim Settlement Ratio of Term Insurance Plan Providers

Claim Settlement Ratio (CSR) is an important parameter in the selection of an insurance policy. If you are going

Read more
27 Jun 2018

What Is Difference Between Term Insurance And Life Insurance

Life insurance plans help you create wealth, protect your family for the entire policy term, and save on your

Read more
24 Mar 2020

LIC Term Insurance 1 Crore

LIC of India offers various plans to help you secure the financial future of your loved ones. To ensure your

Read more
20 Aug 2014

Term Insurance for Women in India

Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and

Read more
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL