LIC Jeevan Amar (Table 855)
Jeevan is indeed amulya (priceless) and safeguarding it with wise and prudent financial decisions only increases its worth, even when it comes to an inopportune end. A term plan is undoubtedly the best and the widely recommended way to protect and support the lives of the kith and kin of the family’s bread-winner. And here we brief you through one of the best term plans from the Indian insurance giant, LIC.
LIC’s Jeevan Amar – Key Features
- Pure Term Plan<: LIC’s Jeevan Amar is a pure term plan that offers financial protection only.
- Death Benefit: In case of death of the policy holder during the term of the plan, the nominee receives the entire Sum Assured.
- Maturity Benefit: If the life insured survives the policy term, no benefits are received by the policy holder or the nominee.
- Income Tax Benefits:All premiums paid under the policy are eligible for deduction under Section 80C of the Income Tax Act. Death benefits are exempted from tax under Section 10(10D).
- Types of Deaths Covered:Both types of deaths, natural and accidental, are covered under the plan. In case of suicide death within 12 months of policy commencement, only 80% of the premium paid after deducting the taxes and charges will be reimbursed to the nominee without any Death Benefits.
- Cancellation Feature: The policy can be cancelled or surrendered within 15 days from the date of commencement in case the policy holder is not satisfied with the policy terms and features. The premium deposited after deducting theproportionate risk premium for the period on cover, stamp duty charges, expenses for medical examination and special reports, if any is reimbursed.
Policy Details at a Glance:
- Sum Assured – Rs 25,00,000 to No Limit
- Policy Term – 5 Years to 35 Years
- Entry Age: 18 Years – 65 Years
- Maturity Age:80 Years
- Premium Paying Term: Equivalent to policy term/5 or 10 year less than policy term
- Surrender Value:No Surrender Value is available under this plan
- Loan :No loan amount is available against this plan
- Paid-up Value: The plan will not acquire any Paid-up value
- Premium Payment Mode:Yearly, Half-Yearly
The chart below shows the annualized premium for a Sum Assured of Rs.1,00,00,000. The premium paid varies according to the age of the insurer and the plan term chosen.
|Age (Years)||Policy Term (Years)|
- Annual Premium for Sum Assured Rs.1,00,00,000
- Premium amount gets 2% dearer under half-yearly payment method.
- GST Extra
Prudent financial planning ensures that our loved ones are taken care of even when we are not there. Life insurance provides all the tangible strength, so pick one today! Call 9230091000 to buy LIC Jeevan Amar or to seek any further information about the LIC’s Term Plans and their features. Our team will provide a clear insight into each plan and assist you to choose the one that best fits your requirements. We are authorized agency for LIC of India and provide life insurance term plans/policies to individuals, HNIs/NRIs and corporates in Chandigarh, Mohali, Panchkula (Haryana), Zirakpur, Kharar (Punjab).