The Jeevan Amar life insurance plan from Life Insurance Corporation of India (LIC) is non-linked and non-participating. In the tragic event of the policyholder’s passing, the plan is intended to offer financial security to their family. LIC Jeevan Amar is a popular life insurance plan in India since it provides the policyholder with a number of perks and benefits. We shall go through the main features, perks, and eligibility requirements of LIC Jeevan Amar in this article.
Benefits of LIC Jeevan Amar:
Death Benefit: The nominee will receive the sum promised as a death benefit in the tragic event that the policyholder passes away during the policy term.
Guaranteed Maturity Benefit: At the end of the policy term, the policyholder is entitled to the amount assured as a maturity benefit.
The policyholder can take advantage of a large sum assured rebate, which lowers the premium amount.
Tax Benefits: Section 80C of the Income Tax Act of 1961 permits tax deductions for premiums paid under LIC Jeevan Amar.
Advantages of LIC Jeevan Amar:
Flexibility: The policyholder has the freedom to select the policy term and the amount of insurance coverage according to his or her needs.
Low Cost: When compared to other life insurance policies, the LIC Jeevan Amar premium is quite affordable.
Simple Claim Settlement: The LIC Jeevan Amar claim settlement procedure is simple and quick.
Who can Apply for LIC Jeevan Amar?
Age: The minimum and maximum eligibility ages for LIC Jeevan Amar are 8 and 60 years, respectively.
Policy Term: The LIC Jeevan Amar policy term is between 10 and 30 years.
Sum Assured: The LIC Jeevan Amar policy has a minimum sum assured of Rs. 2 lakh and no maximum.
How to Apply for LIC Jeevan Amar?
The policyholder can quickly apply for LIC Jeevan Amar by going to the LIC branch that is closest to them or by using the LIC website. To complete the application procedure, the policyholder will need to give some personal information, a medical history, and facts on the nominee.