If you are hesitant to buy an LIC policy as the Life Insurance Corporation of India is offering expensive plans, then this news is for you. Today we are telling you about one such scheme of LIC which is a very affordable term insurance plan. This is an unincorporated, non-participating term insurance plan. We are talking about Pure Conservation Period Insurance Plan ‘Jeevan Amar’. A special feature of LIC Jeevan Amar is that it helps the family financially during the unfortunate death of the insured during the policy period. Let us tell you all the details of this policy:
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Jeevan Amar of LIC is not only cheap but still has many features that make this project great.
The minimum policy term of the Jeevan Amar scheme is 10 years and the maximum policy term is 40 years. An 18-year-old man can join the scheme. However, the maximum age to pay the premium is 70 years.
The maximum age expiration under this policy is 80 years.
Under the regular and limited premium option, the minimum premium is Rs.3000. However, the minimum premium is Rs. 30,000 under Single Premium option.
Death Assurance for Single Premium Policy, ie payment of full amount after death.
The Death Benefit option has to be taken at the time of taking the policy to get the full amount payable upon death.
Similarly there is a difference in the premium for smokers and non-smokers. A man’s premium is higher than a woman’s. Smokers have to pay a higher premium than non-smokers.
There is no surrender value available under the regular premium option but it is available at the single premium. At the same time, certain terms and conditions are attached to the limited premium option. The premium amount varies from male to female.
If a person is not satisfied with the terms and conditions of the policy, the policy may be returned within 15 days from the date the bond was received.
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The LIC Jeevan Amar Plan has 2 death benefit options:
Level Sum Assured
>> Growing Sum Assured
You can choose any of these facilities. This plan can only be purchased offline. That is, it can only be purchased through an agent.
Who can take the Jeevan Amar policy
Minimum age to purchase the project must be 18 years.
>> The maximum age limit for the project is 65 years.
>> The maturity age of the project is 80 years.
>> The minimum amount is Rs.25 lakh.
There is no limit to the maximum amount of insurance.