JEEVAN AMAR PLAN 855

LIC's Jeevan Amar plan is a pure protection plan. The plan offers the flexibility to choose between two death benefit options, namely: Level Sum Insured and Increasing Sum Insured.

Under this plan, there are two premium rate categories namely (1) non-smoking rates and (2) smoking rates. Lower premium rates will also be available to female proponents.

The policyholder has the option to choose between the single, regular and limited premium payment option. The plan also offers the flexibility to choose the death benefit payment, either as a lump sum and / or in installments.

Jeevan Amar from LIC, being a pure protection plan, offers life coverage to the insured at a very affordable price and guarantees financial support for the family in the event of the unfortunate death of the policy holder during the term of the policy.


Key Features of this policy - (Table 855)

• This is a pure protection policy.
• The term of the policy is 10 to 40 years.
• This policy offers 2 categories of premium rates.
• This policy also offers flexibility to choose between 2 death benefit options.
• The low premium rate for female policyholder.
• The policyholder can choose from 3 premium payment options.
• For additional protection, riders are available upon payment of an additional premium.
• The policyholder also has the option of selecting the death benefit payment, either as a lump sum or in installments.
• The minimum sum insured is Rs 25 lakh and there is no limit to the maximum sum insured.
• You can pay the premium as regular, single, or limited.
• You can opt for a level insured sum, where the insured sum you chose will remain the same for the entire policy period.
• You can opt for a growing sum insured as well, 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 double the basic sum insured). As of year 16, it will remain the same, that is, twice the basic sum insured.
• Death Benefits can also be taken in 5-year, 10-year, or 15-year installments.
• Coverage up to 80 years.
• You can also opt for Accidental Rider.
• Lower rates for Non-Smokers.
• For regular premium policies, there is no surrender value as it is term life insurance.

 

 


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