Life Insurance Corporation of India comes with many policies for the people, which is a profitable deal for the people. If you buy a policy under these plans, then you get the benefit of insurance as well as protection. One such scheme of LIC is Jeevan Amar Yojana. Under which insurance benefits can be taken up to 50 lakhs.
LIC Jeevan Amar plan is a non-linked policy, under which cover is given till the age of 80 years. The Basic Sum Assured under this policy plan is Rs 25 lakh and there is no limit for the maximum. This policy covers for the long term, which is of 10 to 40 years. Along with this, this policy gives the option of Level Sum Assured and Level Sum Assured.
Eligibility Criteria for LIC Jeevan Amar Plan
Under this policy, the minimum age of 18 years and maximum age should be 65 years. The maximum maturity benefit will be 80 years. It offers the option of regular premium and it does not offer the option of single premium.
what is the advantage
The policy offers the benefit of two types of Death Sum Assured – Increasing Sum Assured and Level Sum Assured. At the time of purchase, the policyholder can opt for the death benefit to be paid in lump sum or in installments. There is a facility to choose different premium payment terms for this plan which can be Single, Regular and Limited. This plan gives the benefit of tax exemption under Section 10(10D) and 80C of Income Tax.
More benefits for women and no-smokers
Under this policy, a separate premium is issued for women and non-smokers. Under this policy, they have to pay less premium than others. On the other hand, if you want to take accident insurance cover, then a separate premium is applicable for that.
Other Features of LIC
Benefit up to 50 lakhs
If a person has bought this policy at the age of 30 years and deposits the premium for 20 years and every year 8,415 premium amount is deposited, then in case of any kind of annihilation, up to Rs 50 lakh benefit of the amount.