LIC New Jeevan For young professionals and families seeking long-term financial security, Amar term insurance provides significant amounts guaranteed at reasonable prices. This non-linked, non-participating term insurance policy protects without investing or profit-sharing. By offering high coverage at low costs, it allows policyholders and their families peace of mind in event of death.
Understanding the Essence of New Jeevan Amar
LIC’s New Jeevan Amar protects families. It covers the policyholder’s family financially in the worst situation as a pure risk plan. Unlike ordinary insurance policies that blend savings and investment, Jeevan Amar pays the nominee a set sum once the insured dies. The family may be financially stable with this large sum covering living costs, bills, schools, and more.
Key Features that Make LIC’s New Jeevan Amar Stand Out
High-sum guaranteed options are a main feature of New Jeevan Amar. The plan guarantees a minimum of ₹25 lakh, with no upper limit, for applicants meeting underwriting conditions. This flexibility lets those who desire more coverage protect their family in their absence.
Non-smokers may afford New Jeevan Amar premiums. It would suit young professionals and middle-aged folks who want to secure their families’ future without high premiums. Life insurance is much cheaper with high-sum assured premium savings.
Flexible Payout Options: The plan offers Level and Increasing Sum Assured death benefits. Level Sum Assured is appropriate for families that need a predetermined death benefit. In contrast, the Increasing amount guaranteed option boosts the amount guaranteed year to combat inflation and meet the policyholder’s family’s growing financial needs.
LIC’s New Jeevan Amar allows regular, restricted, and single premium payments to suit different financial conditions. These payment options allow policyholders choose a budget-friendly plan:
Regular Premium Payment: Policyholders may pay premiums throughout the insurance period.
Even with lengthier coverage, policyholders may pay off their payments quicker. Those who want to finish premiums before retirement would love it.
For those with a lump sum and no desire in recurring payments, the one premium payment provides coverage for the entire policy period.
Eligibility and Policy Term Flexibility
From 18 to 65, LIC’s New Jeevan Amar serves several ages. Its maturity age may exceed 80 years, making it a versatile option for early- or mid-career long-term coverage.
Insurance terms may be customized from 10 to 40 years to fit personal goals like home loans, children’s education, and retirement. This flexibility lets policyholders choose a term that matches their money and life stage.
Reasons to Choose LIC’s New Jeevan Amar
The policyholder’s family is financially protected by LIC’s New Jeevan Amar death benefit. The nominee’s payout ensures dependents can survive and pay for future expenses without principle income.
Family Financial Security: LIC’s New Jeevan Amar payout may be used for everyday expenses, debt reduction, education, or investments. This flexibility allows the death benefit to support the family financially.
The Increasing Sum Assured option is perfect for customers concerned about inflation degrading their coverage. This option increases the insured amount yearly to cover rising living costs and maintain the family’s lifestyle years after the coverage begins.
LIC’s New Jeevan Amar premiums are tax-deductible under Section 80C of the Income Tax Act, with conditions. The family may use the nominee’s death benefit tax-free under Section 10(10D). The plan’s tax advantages attract tax-savers and family security seekers.