अपडेट किया गया: 21 अक्टू. 2020
LIC’s Jeevan Amar plan is a Non-Linked, Without Profit, pure protection plan. The plan offers the flexibility to choose from two death benefit options viz: Level Sum Assured and increasing Sum Assured.
LIC’s *Jeevan Amar* (No.855) – Offline Term
Life Insurance Review LIC is soon launching its offline term life insurance LIC’s Jeevan Amar (No.855).
It is going to be one of the best plan designed by LIC as far as I know. Let us see the benefits and how it is beneficial for all of us. Note:Insurance Review“. LIC’s Jeevan Amar (No.855) is a Non-Linked,
Non-Participating Term Life Insurance Plan. After a long gap, LIC launching a term life insurance. It is mainly because of the competition in this field of product. LIC’s Jeevan Amar (No.855) – Features # It is an OFFLINE Term Life Insurance from LIC.
Minimum Sum Assured is Rs.25 lakh and there is no limit for maximum sum assured.
# *You can pay the premium as regular, single or 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. # You can opt for Accidental Rider also. # Lower rates for Non-Smokers and special rates for women. LIC’s Jeevan Amar (No.855)
– Eligibility Let me share with you the eligibility for buying LIC’s Jeevan Amar (No.855). ￼ LIC’s Jeevan Amar (No.855) – Prem. Sum Assured-Rs.1 Cr Term-10 Years. Premium Paying Term-10 Years.
Mode-Yearly Sum Assured Option-Level Sum Assured Age-20 Years
-Male-Rs.8,080, Age-20 Years
Age-30 Years-Female-Rs.8720 (Yearly).
Age-40 Years-Female-Rs.13260 (Yearly)
(The above rates are exclusive of GST). LIC’s
Jeevan Amar (No.855) – Death Benefit Options Death Benefit Sum Assured As I have mentioned in the above post, there are two death options under LIC’s Jeevan Amar (No.855). They are as below.
# *Level Sum Assured* Your nominee will receive the Sum Assured you opted while buying the policy. It will remain the same throughout the policy period. # *Increasing Sum Assured* Under this feature, the death benefit will be the same as that of the initial sum assured you have chosen for the first five years.
*From 6th policy year to 10th year, it will increase at the rate of 10% per year*. *From the 16th year of the policy period, it will remain the same throughout the remaining policy period*. Accordingly, your nominee will receive the death benefit during which period of the policy your death occurs. Death benefit payment option to the nominee Your nominee can receive the death benefit as a lump sum or in installments.
If you opted for installments, then LIC will pay the death benefit installments in 5 years, 10 years or 15 years. You can choose the full death claim amount be payable in installments or a certain portion of death claim in installments. You can choose this installment option either at the time of buying or during the policy period.
LIC’s Jeevan Amar (No.855) – Review Considering the market competition in online term life insurance plans, LIC launched this plan with the utmost care and including the many features which are already available in the market.. Also, it looks upfront that LIC’s Jeevan Amar (No.855) premium is much cheaper than it’s earlier offline term life insurance. Hence, it is a big benefit for those who are desperate to buy the term life insurance from trusted LIC. #
*Coverage of the policy is up to 80 years of age. Even though Life Insurance is not required up to 80 years of your age, but LIC added this feature to compete with private players. Hence, this is an attractive move.
* # *This plan comes with an accidental rider. It’s an earlier version of term life insurance was without any rider.* Hence, this time LIC added accidental rider benefit. This is one more positive. # *Premium paying option is too flexible with options like Single, Limited Period and
Under this plan, there are two categories of premium rates viz (1) Non-Smoker rates and (2) Smoker rates. Also lower premium rates will be available for female proposers. The policyholder has the option to choose from Single, Regular and Limited Premium payment option. The plan also offers the flexibility to choose death benefit payment either as a lump sum payment and/or in installments. LIC’s Jeevan Amar, being a pure protection plan, offers life cover to the policyholder at a very affordable price and ensures financial support for the family in case of unfortunate death of the policyholder during the policy term