Life Insurance Corporation (LIC) of India, the country’s largest insurance company, always brings special plans for its customers. Even now LIC has introduced Jeevan Amar Plan Term Insurance for its customers. During the term of this LIC Jeevan Amar policy, in case of accidental death of the insured, his family will get financial assistance. Therefore, this plan is very useful for customers in difficult times like Corona.
The minimum term of the Jeevan Amar Plan is 10 years and the maximum period is 40 years. Any person below the age of 18 years can also take advantage of this scheme of Life Insurance Corporation of India. The most important thing is that LIC’s Jeevan Amar Policy is not only affordable but also provides many special features. This is the newly launched pure term insurance plan by LIC.
Being a term insurance plan, you get great covers at very affordable premiums! And so it is the best form of protection! This Jeevan Amar Plan will be sold offline and it is much more affordable than LIC Amulya Jeevan II which was offered earlier! Also, this LIC Jeevan Amar policy has ample flexibility as compared to the one offered earlier!
This Jeevan Amar Plan will have benefits under Section 80C and Section 10 (10D). No Surrender Value is available under Regular and Limited Pay option. But you will get it in single pay and limited pay option. If the policyholder is not satisfied with the terms and conditions of this policy of Life Insurance Corporation of India, then he can cancel the policy within 15 days of receipt of the policy document. This largely explains the working of LIC Jeevan Amar Term Insurance Policy.
According to the information received, the option of premium payment is also available in LIC’s Jeevan Amar Plan. It has features like Single Premium, Regular Premium and Limited Premium. Under Premium Paying Term (PPT), the policy term will be less than 5 years and the second policy term will be less than 10 years. The maximum age for paying premium in Life Insurance Corporation of India will be 70 years. The minimum premium will be Rs 3,000 under regular and limited premium option. The minimum premium under single premium option is Rs 30,000.
In the special policy of this Jeevan Amar Plan, there will be different rules for smokers and non-smokers. LIC Jeevan Amar Policy will have higher premium for men as compared to women. Not only this, there will be a higher premium for smokers and a lower premium for non-smokers! This policy of Life Insurance Corporation of India is the best policy.
The minimum age required to buy Jeevan Amar Plan should be 18 years.
The maximum age limit for LIC Jeevan Amar Policy is 65 years.
The maturity age for the plan is up to 80 years.
Minimum Sum Assured is Rs 25 lakhs.
There is no limit on the maximum sum insured in Life Insurance Corporation of India.
LIC Jeevan Amar Policy is available for individuals in the age group of 18 to 65 years. The minimum maturity for this is 80 years. Under Jeevan Amar Plan, the minimum term is 10 years and the maximum period is 40 years. There will be no surrender value under regular premium option. But it comes with a single premium! Not only this, some terms and conditions have been implemented in the Limited Premium Option in Life Insurance Corporation of India. The premium amount will be different for men and women.