Benefits of LIC Jeevan Amar

What is LIC Jeevan Amar?

LIC Jeevan Amar, offered by the Life Insurance Corporation of India, is a comprehensive and flexible term insurance plan that caters to the diverse needs of policyholders. The plan provides several benefits along with the family's financial security. Let us explore the various benefits that make LIC Jeevan Amar an attractive choice for individuals seeking financial security.

** The LIC of India has discontinued the existing plan and reintroduced it as LIC New Jeevan Amar. If safeguarding the financial future of your loved ones is a priority, you can now purchase this updated plan online.

What are the Benefits of LIC Jeevan Amar?

• Affordable Premiums:

  One of the key advantages of LIC Jeevan Amar is its affordability. The plan offers a range of premium payment options, making it more accessible. Policyholders can choose between annual, half-yearly, quarterly, or monthly premium payments, allowing flexibility based on individual financial capabilities.

• High Coverage Amounts:

  LIC Jeevan Amar provides substantial coverage amounts, ensuring that your family is adequately protected in case of an unfortunate event. The plan allows policyholders to choose a coverage amount that aligns with their financial responsibilities and future needs. This flexibility makes it suitable for individuals with varying income levels and financial goals.

• Flexible Policy Term:

  Understanding that every individual has unique financial goals and timelines, LIC Jeevan Amar offers a flexible policy term. Policyholders can select the duration of coverage based on their specific needs, whether it's a short-term plan to cover a particular financial milestone or a long-term strategy for comprehensive protection.

• Multiple Premium Payment Options:

  LIC Jeevan Amar caters to the diverse preferences of policyholders by offering multiple premium payment options. This flexibility allows individuals to choose a plan that aligns with their financial situation and lifestyle. Whether you prefer a single premium payment or periodic payments, the plan can be customized to suit your needs.

• Death Benefit Payout Options:

  In the unfortunate event of the policyholder's demise, LIC Jeevan Amar provides various payout options for the death benefit. Beneficiaries can choose to receive the benefit as a lump sum, periodic income, or a combination of both, providing them with financial flexibility during challenging times.

• Optional Riders for Enhanced Coverage:

  LIC Jeevan Amar allows policyholders to enhance their coverage by opting for additional riders. These riders provide extra protection against specific risks, such as critical illnesses, accidental death, or disability. This customization ensures that the policy aligns with individual needs and concerns.

• Tax Benefits:

  Like many life insurance plans, LIC Jeevan Amar offers tax benefits under Section 80C of the Income Tax Act. Policyholders can avail of tax deductions on their premium payments, providing an added incentive for individuals looking to optimize their tax liabilities while securing their family's financial future.

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Wrapping it Up

LIC Jeevan Amar is a safety net for all your family’s financial needs. The plan helps your loved ones to fulfil all their dreams without worrying about the money in your absence. However, The company withdrew the plan, but fortunately, the new plan, namely, LIC New Jeevan Amar, was launched to provide financial security.