LIC’s New Jeevan Amar Plan 855

A Non-linked, Non-participating, Life Term Assurance Plan – Offline Term

LIC is soon launching its offline term life insurance LIC’s Jeevan Amar (No.855)

Jeevan Amar (Table No.855) – USP / Features

• It is an OFFLINE Term Life Insurance from LIC.
• Minimum Sum Assured – Rs.25 lakh
• Maximum sum assured – No limit
• Premium – Regular, Single &  Limited
• 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 increases at a rate of 10% for the next 10 years. From the 16th year, it will remain the same.
• Death Benefits can be taken in installments also of 5 years, 10 years or 15 years.
• Coverage up to 80 years of age.
• Accidental Rider is available.
• Lower rates for Non-Smokers and special rates for women.

ELIGIBILITY CONDITIONS

• Entry Age – 18 to 65 years (LBD)
• Max Maturity Age – 80 years (LBD)
• Min BSA :Rs.50 Lakhs
• Max BSA : No Limit
• Policy Term – 10 to 40 years
• Premium Payment – Single, Regular/ Limited (Yearly / Half-Yearly)

LIC’s Tech-Term Vs. LIC’s Jeevan Amar

Product features and variants under both the plans are same. The differences are as under:

Minimum Basic Sum Assured:

• – Rs. 25 Lakhs under LIC’s Jeevan Amar
• – Rs. 50 Lakhs under LIC’s Tech-Term

BSA multiples under LIC’s Jeevan Amar:

• – Rs. 1,00,000/- BSA up to Rs. 40,00,000/-
• – Rs. 10,00,000/- BSA thereafter

High Sum Assured Rebate from:

• – Rs. 50 Lakhs under LIC’s Jeevan Amar
• – Rs. 1 Crore under LIC’s Tech-Term

High Sum Assured Rebate: LIC’s Jeevan Amar

Option I: Level Sum Assured

Age Band	As a % of Tabular Annual/Single Premium
(LBD)	Less than Rs. 50 Lakhs	Rs. 50 Lakhs to less than Rs. 1 Crore	Rs. 1 Crore and above
<= 30 years	Nil	12%	20%
31 – 50 years	Nil	10%	15%
>= 51 years	Nil	5%	7%

Option II: Increasing Sum Assured

Age Band	As a % of Tabular Annual/Single Premium
(LBD)	Less than Rs. 50 Lakhs	Rs. 50 Lakhs to less than Rs. 1 Crore	Rs. 1 Crore and above
<= 30 years	Nil	10%	18%
31 – 50 years	Nil	8%	13%
>= 51 years	Nil	4%	6%

LIC’s Jeevan Amar: Sample Premium

Policy Term= 10 Years

Sum Assured= Rs. 1,00,00,000/-

PPT=10 Years

Mode= Yearly (Regular Premium Policy)

Category = Non-Smoker

Option 1: Level Sum Assured

Age (LBD)	Male	Female	Remark (Per Month Equivalent Premium)
20	Rs. 8,080	Rs. 7,760	Male=673, Female=647
30	Rs. 9,280	Rs. 8,720	Male=773, Female=727
40	Rs. 16,065	Rs. 13,260	Male=1339, Female=1105