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  Mohan Park, Guru Angad Nagar, Delhi - 110092

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Lic Jeevan Amar plan

Lic Jeevan amar plan is claimed tha,t it is going to be one of the best cheapest term life insurance plan designed by LIC. Let us see the benefits and how it is beneficial for all of us.

Under this plan, there two categories of premium 1) Non-Smoker and 2) Smoker Rates. You can choose anyone option. However, if you have chosen the Non-Smoker category, then you have to undergo the additional medical examination


Minimum Sum Assured is Rs.25 lakh and there is no limit for maximum sum assured.

You can opt for a level sum assured, where the sum assured you opted will remain the same throughout the policy period.

You can opt for an increasing sum assured also, where the death benefit will remain the same up to 5 years of the first policy period. After that, it will increase at a rate of 10% for the next 10 years (up to it will turn double of the basic sum assured). From the 16th year, it will remain the same i.e double of the basic sum assured.

Death Benefits can be taken in instalments also of 5 years, 10 years or 15 years.

Coverage up to 80 years of age.

You can opt for Accidental Rider also.

Lower rates for Non-Smokers and special rates for women.

For regular premium policies, there is no surrender value as it is a term life insurance. However, for a single premium policy and limited premium policy, the surrender value is calculated based on the formula set by LIC.


Minimum & Maximum entry age-18yrs to 65yrs

Maximum maturity age -80yrs

Minimum sum assured-Rs2.5 lakh

Minimum sum assured-No Limit

Minimum Policy Term-10yrs

Maximum policy Term-40yrs

Minimum Instalment of premium-Rs.3,000 for regular and limited premium and , Rs.30,000 For a single premium

Premium Paying Term for Regular- Up to Policy

Limited Premium-%years or 10 years

Single Premium-one time

Rider-Accidental rider benefit


In case of sad demise of policy holder, his nominee will be paid the Sum Assured.

Maturity Benefit: As this is a pure term insurance plan, there is no maturity benefit.

Tax Benefits - This plan will have benefits under Section 80C and Section 10 (10D). Surrender Value - No surrender value available under regular and limited pay option but you will get it in single pay and limited pay option.

Free look Period - if the policyholder is not convinced with the terms and conditions of the policy, s/he can cancel the policy within 15 days from the receipt of the policy document.

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