Is LIC’s Jeevan Amar Term Insurance Valuable

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Besides the lower cost, Jeevan Amar ‘s program has much broader characteristics and flexibility in compensation and death claims, in contrast to the Amulya Jeevan schedule that has now been withdrawn. A majority of the insurance firms have lower rates for long-term insurance policies than the LIC in India, with the premium change to the long-term plans of LIC overdue for a long time.

Not only is Jeevan Amar ‘s premium much lower than Amulya Jeevan’s, the current term insurance scheme is much more robust in terms of both premium premiums and death claims compared to the old one, which was withdrawn just before Jeevan Amar was launched.

To know more about best LIC Insurance, you can visit our website https://www.jayantharde.com or contact our representative at +91 712 2282029 or meet us at 51, Gurukripa, Old Sneha Nagar, Wardha Road, Nagpur – 440015.

Here’s how the Jeevan Amar Term Insurance is valuable:

Maximum Term:

under Jeevan Amar, one may take life cover for 40 years.

Maximum Entry Age:

maximum entry age of Jeevan Amar is up to 65 years.

Maximum Maturity Age:

The maximum maturity age under Jeevan Amar the life cover up to the age of 80 years.

Accident Benefit Rider:

The Double Accident Gain (DAB) can be opted for at the beginning of a policy or at any time during the PPT duration under Jeevan Amar, subject to a five-year minimum remaining PPT. The compensation for this rider shall be only valid for the annual pay period or the anniversary of a policy on which the age nearer the birthday of a guaranteed life is 70 years.

Level of Sum Assured:

Applicants have the option to choose either level SA or increasing SA. Under level SA, the amount of SA remains same during the policy period, while under increasing SA, the amount of SA remains same for first 5 policy years and then increases by 10 per cent every year till the 15th policy year or end of the policy, whichever is earlier. The increased SA can’t be more than double the basic SA.

Mode of Premium Payment:

With Jeevan Amar, applicants can choose whether to pay a single premium, a restricted premium, or a daily premium in accordance with their annual and semi-annual modes.

Grace Period:

The grace period for paying premium without any interest is 30 days for Jeevan Amar policy.

Revival Period:

The maximum time period allowed to revive a lapsed Jeevan Amar policy will be up to 5 years.

Surrender Value:

The surrender value will be payable under Jeevan Amar, subject to terms and conditions, for the single premium and restricted premium plans.

Payment of Death Claim:

The decision to apply for the death claims for the installments in Jeevan Amar, along with the lump sum, is to apply for the partial lump sum and the payments, which are selectable at the proposal or the policy currency.

To know more about best LIC Insurance, you can visit our website https://www.jayantharde.com or contact our representative at +91 712 2282029 or meet us at 51, Gurukripa, Old Sneha Nagar, Wardha Road, Nagpur – 440015.

Location: 51, Gurukripa, Old Sneha Nagar, Wardha Road, Nagpur – 440015

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