LIC New Term Insurance Plan: Jeevan Amar
LIC JEEVAN AMAR is a Non-Linked,Without Profits,Pure Protection plan.Earlier There was a Term Plan Named as Amulya Jeevan ,but now Amulya Jeevan has been closed and Jeevan AMAR has been launched with great benefits.
LIC JEEVAN AMAR
As you know ,there is no maturity benefit in Term insurance only Risk cover is available.
This Term Plan has two Death Benefit options.
Option-1: Level SA-Basic Sum Assured remains same throughout the term.
Option-II: Increasing SA –10% increase in BSA after 5th years till 15th year or till end of policy term.
( Maxi BSA can go up to 2 times of original SA)
There are three options for payment of premiums i.e.
There are three options for payment of premiums i.e.
Regular Premium,
Limited Premium &
Single Premium.
Premium rates differs for Male & Female lives.
Proposer has option to choose Premium Rates i.e. Non-Smoker Rates or Smoker Rates. If opted for Non-Smoker rates then Urine Cotinine Report is Mandatory.
If opted for Smoker rates then Urine Cotinine Report will not be required.
DEATH BENEFIT:
Absolute Amount Assured will be Paid.
Under Option-I Level Sum Assured : Basic Sum Assured
Under Option-II Increasing Sum Assured:
First 5 Years – Basic Sum Assured
: 6th to 15th Year – EveryYear 10% Increase under Basic SA.
: 16th Year and Beyond – Two Times of Basic SA.
Option to take Death Benefit in 5/10/15 Installments:
Option can be exercised during lifetime of life assured for full or part death benefits payable.
MATURITY BENEFIT: No benefits are payable.
Features & Conditions:
Minimum age at entry : 18 years lbd
Maximum age at entry : 65 years lbd
Max. cover ceasing age : 80 years lbd
Policy term : 10 to 40 years
PPT Under Limited Premium Paying Term:
Policy Term 10 to 40 Years: Policy Term minus 5
Policy Term 15 to 40 years: Policy Term minus 10
Minimum S.A. : Rs25,00,000 & in multiples of Rs 1,00,000 up to Rs 40,00,000 and in multiples of 10,00,000 above 40,00,000
Maximum S.A. : No Limit
Min. Instalment Premium: 3,000 Under Regular/
Limited PPT and 30,000 under Single Premium.
Available Riders: AB Rider only under Regular/
Limited PPT mode up to PPT only or Age 70 nbd.
Mode of Payment: Yearly, Half Yearly or Single Premium
DOWNLOAD: LIC JEEVAN AMAR PLAN PPT
Proposal Form LIC Term INSURANCE Jivan AMAR:
There is two proposal forms available for Jivan Amar Plan ,Named as Form Number 511 and for number 512.You may Download soft copy here.