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Is Jeevan Amar a term policy?
One such policy is LIC Jeevan Amar, a non-participating, non-linked, offline term insurance plan that gives all the benefits of a term insurance plan alongside promising death benefits to your family.
What is the minimum basic sum assured for Jeevan Amar plan?
Rs. 25,00,000
Eligibility Criteria
| Parameter | Eligibility criteria |
|---|---|
| Minimum basic sum assured | Rs. 25,00,000 |
| Maximum basic sum assured | No limit The basic sum assured should be in multiples of Rs. 1 lakh for sum assured up to Rs. 40 lakhs. It should be in multiples of Rs. 10 lakhs if its above Rs. 40 lakhs. |
| Policy term | 10 years to 40 years |
It is possible that LIC’s administration costs are high because its sales channel is dominated by agents, and the commissions paid to them is charged on the policyholder as higher premium. But even in its online term policy where the cost is low, LIC’s plan is pricier to those of peers.
Why LIC premium is high?
What is term plan Jeevan Amar by LIC?
Term plans or pure protection plans offer high insurance coverage at a low premium. Jeevan Amar is an offline term plan. LIC has launched an online version of this plan with the name LIC’s Tech-Term (plan 854).
Why Jeevan Amar is the best life insurance plan?
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.
Does plan 855(Jeevan Amar) have Quarterly and monthly payment option?
In Plan no 855 (Jeevan Amar) do we have quarterly and monthly payment option. if yes, then pls share on my email ID. No, it has yearly and half yearly premium payment options.
What is accidental death benefit rider in Jeevan Amar insurance?
Accidental death means sudden like road accident. Jeevan Amar has option to add Accidental Death Benefit Rider. It does not allow Accidental Death and Disability rider. Rider is not available in case of single premium option. I am 44 years old.