LIC Plan: Invest in LIC Jeevan Amar plan and get Rs 10,00,000, know details
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Life Insurance Corporation of India (LIC) Jeevan Amar is a non-linked, non-participating, life insurance plan. This plan is designed to provide financial security to the family in case of unfortunate death of the policy holder. LIC Jeevan Amar offers a number of benefits and advantages to the policy holder. Today we will tell about the main features, benefits, advantages, eligibility criteria and application process of LIC Jeevan Amar.
Benefits of LIC Jeevan Amar:
Death Benefit: In case of unfortunate death of the policyholder during the policy term, the nominee will receive the sum assured as death benefit.
Guaranteed Maturity Benefit: The policyholder is eligible to receive the Sum Assured as maturity benefit on completion of the policy term.
High Sum Assured Rebate: The policyholder can avail of the High Sum Assured Rebate, which reduces the premium amount.
Tax Benefit: The premium paid for LIC Jeevan Amar is eligible for tax deduction under section 80C of the Income Tax Act, 1961.
Benefits of LIC Jeevan Amar:
Flexibility: The policy holder has the option to choose the policy term and sum assured as per his requirement.
Low Premium: The premium amount of LIC Jeevan Amar is relatively less as compared to other life insurance plans.
Easy Claim Settlement: The claim settlement process for LIC Jeevan Amar is quick and hassle free.
Who can apply for LIC Jeevan Amar?
Age: Individuals between the age of 8 years and up to the age of 60 years can apply for LIC Jeevan Amar.
Policy Term: The policy term for LIC Jeevan Amar ranges from 10 to 30 years.
Sum Assured: The minimum Sum Assured for LIC Jeevan Amar is Rs 2 Lakh, and there is no upper limit for the same.
How to apply for LIC Jeevan Amar?
Policy holders can easily apply for LIC Jeevan Amar by visiting the nearest LIC branch or on LIC website. Policy holders need to provide certain personal details, medical history and information about the nominee to complete the application process.
Example for LIC Jeevan Amar:
Suppose Rohit, who is 40 years old, wants to buy a life insurance policy to secure the financial future of his family. He decides to choose LIC Jeevan Amar with a sum assured of Rs 10 lakh and a policy term of 20 years. The premium amount for Rohit would be around Rs 20,000 per annum. In case of his unfortunate death during the policy term, his family will receive Rs 10 lakh as death benefit. On completion of the policy term, Rohit will receive Rs 10 lakh as maturity benefit.
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