The LIC New Jeevan Amar Plan keeps your family’s future secure. The plan matches your needs and accordingly, you can choose your payment style. Your family gets full money protection if something happens to you.
LIC New Jeevan Amar Premium Calculator
Key Features
- Pure Protection Plan: No maturity benefit; only a death benefit is provided.
- Two Death Benefit Options:
- Level Sum Assured: The sum assured remains constant throughout the policy term.
- Increasing Sum Assured: The sum assured increases by 10% annually from the 6th year until it doubles by the 15th year.
- Flexible-Premium Payment:
- Single Premium: Pay once.
- Regular Premium: Pay throughout the policy term.
- Limited Premium: Pay for a fixed period (policy term minus 5 or 10 years).
- Special Rates: Lower premiums for women and non-smokers.
- High Sum Assured Rebates: Discounts on premiums for higher coverage amounts.
- Rider Option: Protects with the LIC’s Accident Benefit Rider.
Are you looking to explore more LIC plans and calculate their benefits? Check out our range of LIC Premium Calculators below to find the perfect plan for your needs:
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- LIC Amritbaal Plan Premium Calculator
- LIC Bima Jyoti Plan Premium Calculator
- LIC Jeevan Umang Premium Calculator
- LIC Jeevan Utsav Premium Calculator
Eligibility Criteria
| Eligibility Criteria | Details |
|---|---|
| Minimum Age | 18 years (Last Birthday) |
| Maximum Age | 65 years (Last Birthday) |
| Maximum Maturity Age | 80 years (Last Birthday) |
| Minimum Basic Sum Assured | ₹25,00,000 |
| Maximum Basic Sum Assured | No limit (subject to underwriting approval) |
| Policy Term | 10 to 40 years (depending on age) |
| Premium Payment Term | Single, Regular, or Limited |
Death Benefit Options
1. Level Sum Assured
The sum assured remains constant throughout the policy term. For example, if the Basic Sum Assured is ₹50,00,000, the nominee will receive this amount upon the policyholder’s death, regardless of when it occurs during the policy term.
2. Increasing Sum Assured
The sum assured remains constant for the first 5 years, then increases by 10% each year from the 6th to the 15th year, until it doubles the Basic Sum Assured. From the 16th year onward, the sum assured remains fixed at twice the Basic Sum Assured.
Example:
- Basic Sum Assured: ₹50,00,000.
- Death in the 8th year: The sum assured would be ₹65,00,000.
- Death in the 16th year: The sum assured would be ₹1,00,00,000 (double the Basic Sum Assured).
Benefits
1. Death Benefit
Payable on the death of the policyholder during the term, provided the policy is in force. It is the higher of:
- 7 times the annualized premium.
- 105% of total premiums paid.
- Absolute amount assured on death (depends on the option chosen).
2. High Sum Assured Rebates
Enjoy discounts on premiums for higher coverage amounts. For example:
| Age Band | Rebate (₹) for Sum Assured of ₹50 Lakh – ₹1 Crore | Rebate (₹) for Sum Assured Above ₹1 Crore |
|---|---|---|
| Up to 30 years | 13% | 25% |
| 31 to 50 years | 11% | 21% |
| Above 50 years | 6% | 11% |
Premium Payment Options
| Premium Type | Details |
|---|---|
| Regular Premium | Payable throughout the policy term. |
| Limited Premium | Payable for a fixed period, either (Policy Term – 5 years) or (Policy Term – 10 years). |
| Single Premium | Pay once at the start of the policy. |
Sample Premiums for ₹50 Lakh Sum Assured (Male, Non-Smoker)
Level Sum Assured
| Age | Policy Term | Regular Annual Premium (₹) | Limited Premium (₹) (Policy Term – 5 Years) | Single Premium (₹) |
|---|---|---|---|---|
| 20 | 20 years | 5,959 | 6,873 | 57,768 |
| 30 | 20 years | 7,830 | 9,091 | 78,213 |
| 40 | 20 years | 15,441 | 18,067 | 1,60,200 |
Increasing Sum Assured
| Age | Policy Term | Regular Annual Premium (₹) | Limited Premium (₹) (Policy Term – 5 Years) | Single Premium (₹) |
|---|---|---|---|---|
| 20 | 20 years | 7,832 | 9,078 | 77,786 |
| 30 | 20 years | 11,125 | 12,994 | 1,14,187 |
| 40 | 20 years | 23,933 | 28,119 | 2,52,525 |
Year-Wise Death Benefit for Increasing Sum Assured (Example)
For a policy with ₹50 Lakh Basic Sum Assured:
| Year | Death Benefit (₹) |
|---|---|
| 1 | 50,00,000 |
| 2 | 50,00,000 |
| 3 | 50,00,000 |
| 4 | 50,00,000 |
| 5 | 50,00,000 |
| 6 | 55,00,000 |
| 7 | 60,00,000 |
| 8 | 65,00,000 |
| 9 | 70,00,000 |
| 10 | 75,00,000 |
| 11 | 80,00,000 |
| 12 | 85,00,000 |
| 13 | 90,00,000 |
| 14 | 95,00,000 |
| 15 | 1,00,00,000 |
| 16+ | 1,00,00,000 |
Example Scenario:
- A 30-year-old opts for ₹50 Lakh Basic Sum Assured with the Increasing Sum Assured option for 20 years.
- If they pass away in the 9th year, the nominee will receive ₹70,00,000.
- If they pass away in the 16th year, the nominee will receive ₹1,00,00,000.
How to Buy LIC’s New Jeevan Amar Plan
- Consult an LIC Agent: Get a personalized quote based on your needs.
- Choose the Options: Select your sum assured, policy term, and premium type.
- Submit Documents: Provide proof of identity, address, and income.
- Complete Medical Tests: Non-smokers can avail of lower premiums based on urinary cotinine tests.
- Pay Premium: Start enjoying the financial security this plan provides.
Conclusion
The New Jeevan Amar Plan from LIC stands as a trusted shield for your family’s tomorrow. The plan brings together smart features that work around your lifestyle and budget.
Special premium discounts make this plan light on your pocket. The protection amount can be tailored exactly how your family might need it. The plan offers extra advantages for women and health-conscious individuals who don’t smoke.
This thoughtfully designed protection deserves your attention today. Our experienced LIC advisors are ready to walk you through every aspect of the plan. Feel free to connect with them at your nearest LIC branch.
Here are the explanations for key terms related to LIC’s New Jeevan Amar Plan:
- Pure Risk Plan: A life insurance policy that offers only a death benefit; there’s no maturity or survival payout.
- Sum Assured: The amount your nominee will receive upon your death during the policy term.
- Level Sum Assured: The coverage amount remains the same throughout the policy term.
- Increasing Sum Assured: The coverage amount increases annually by 10% from the 6th year, doubling by the 15th year.
- Regular Premium: Premiums are paid at fixed intervals (monthly, quarterly, half-yearly, or yearly) throughout the policy term.
- Limited Premium: Premiums are paid for a shorter period (e.g., policy term minus 5 or 10 years).
- Single Premium: A one-time payment made at the start of the policy.
- Death Benefit: The payout made to your nominee if you pass away during the policy term.
- High Sum Assured Rebates: Discounts on premium rates for choosing a higher coverage amount (e.g., above ₹50 lakh).
- Non-Smoker Rates: Lower premium rates are offered to individuals who don’t smoke, based on a cotinine test.
- Accident Benefit Rider: An optional add-on that provides extra coverage in case of accidental death or disability.
- Maturity Age: The maximum age (up to 80 years) by which the policy ends if no claim has been made.
