LIC Jeevan Amar Policy : Features, Benefits & Eligibility Criteria

LIC Jeevan Amar Policy | LIC Jeevan Amar Policy Features, Benefits & Eligibility Criteria | Lic Premium For Jeevan Amar

LIC Jeevan Amar Policy 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 Jeevan Amar Policy

LIC Jeevan Amar Policy

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 Jeevan Amar Policy, 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.

Eligibility Criteria of LIC Jeevan Amar

  • Age of the Policyholder 18 years to 65 years
  • Age of Maturity 80 years
  • Policy Term 10 years to 40 years
  • Sum Assured Rs 25 lakhs to unlimited
  • Death Cover Options Level Sum Assured & Increasing Sum Assured
  • Where To Buy? Offline
  • Premium Paying Term Single-Premium OR Yearly OR Half-Yearly
  • Grace Period 30 days

Also Read : LIC Jeevan Lakshya Policy

LIC Jeevan Amar Policy Features

Jeevan Amar by LIC comes out with multiple features to serve better to customers. All features are designed in a way that can offer several benefits. A few fine features are mentioned below for your perusal.

Death Benefit

In case of a sudden demise during the policy tenure, your family/nominee will be entitled to receive the entire sum assured amount. The death benefit would be defined as 7 times of annualized premiums, 105% of the paid premiums and the absolute amount.

Surrender Value

There will be no surrender value under this Plan. However on surrender of policy in the following cases (for both Level Sum Assured (Option I) as well as Increasing Sum Assured (Option II) options), an amount will be refunded as per the regulations.


The plan also comes out with additional riders which will be really helpful when it comes to enhancing the basic cover. There are multiple riders that you can avail such as accident benefit rider that you can add to the base policy by paying a small additional premium.

Premium Payments

This plan is designed in a way to offer multiple premium payment options. You can go for Regular Premium, Limited Premium or Single Premium payment options under this plan.

Grace Period

It is an important feature that you must be aware of. A grace period of around 30 days is there for payment of yearly or half-yearly premiums from the date of first unpaid premium.


Statutory Taxes, on such insurance plans by Govt. of India or any other constitutional Tax Authority of India shall be applicable according to laws.

Free Look Period

If you are not happy with the insurer or the plan then you can cancel the same within the free look period that is under 15 days from the purchase date.

Death Benefit in instalments

Instead of lump sum, this plan offers the option to take death benefit in installments over a chosen period of 5, 10, or 15 years.


The plan offers High Sum Assured Rebate which is applicable for Regular, Limited & Single Premium payment options.


A lapsed policy can easily be revived during the whole lie of the insured. But, it should be within a period of 5 consecutive years from the date of first unpaid premium or as allowed by products regulations

Maturity Benefit

In case of survival of the life assured to the end of the policy term, no maturity benefit is payable.

Policy Loan

There will be no loan facility with this term insurance policy.

Important Link :

Documents required

  • In order to purchase the LIC Jeevan Amar plan, the customer needs to provide some documents.
  • Age proof: Birth certificate, driving license, passport, school or college certificate, and PAN card can be submitted as a valid age proof.
  • Identity proof: Passport, Aadhaar card, PAN card, Voter ID, or driving license can be submitted as a valid identity proof.
  • Address proof: Utility bill, Aadhaar card, or bank account statement, bank passbook can be submitted as an address proof.
  • Along with the photocopies of the documents listed above, the customer has to fill up an application form and also provide self-attested photocopies of the mentioned KYC documents.