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Friday, July 12, 2019

LIC Of INDIA

LIC Jeevan Amar Term Insurance Plan 855

LIC Jeevan Amar (No.855) is a Non-Linked & Non-Participating Term Life Insurance Plan. 


LIC Jeevan Amar Term Insurance Plan 855 - Features

  • Minimum Age : 18 years
  • Maximum Age : 65 years
  • Maximum Age at Maturity : 80 years
  • Minimum Sum Assured is Rs.25 lakh and there is no limit for maximum sum assured.
  • Maximum Sum Assured : No Limit
  • Policy Term : 10 to 40 years
  • Premium Paying Term (PPT) : Same as Policy term
  • Single Premium : Minimum premium would be Rs. 30000/-.
  • Commencement of Risk : Immediate from the date of issuance of Policy.
  • You can pay the premium as regular, single or limited.
  • You can opt for a level sum assured, where the sum assured you opted will remain the same throughout the policy period.
  • You can opt for an increasing sum assured also, where the death benefit will remain the same up to 5 years of the first policy period. After that, it will increases at a rate of 10% for the next 10 years. From the 16th year, it will remain the same.
  • Death Benefits can be taken in installments also of 5 years, 10 years or 15 years.
  • Coverage up to 80 years of age.
  • You can opt for Accidental Rider also.
  • Optional Rider benefit.
  • No Loan facility available under this plan.
  • Back-dating is also not allowed under this plan.
  • Free Look up period  15 days from the date of receipt of policy.
  • Lower rates for Non-Smokers and special rates for women.

LIC Jeevan Amar Term Insurance Plan 855 - Benefit Options

Death Benefits

Regular Premium : For regular & Limited premium payment policy, "Sum Assured on Death" is

  • 7 times or annualized premium or
  • 105 % of all the premiums paid as on the date of death or
  • Absolute amount assured to be paid on death.

Single Premium :

  • 125 % of Single Premium
  • Absolute amount assured to be paid on death.

Increasing Sum Assured

  • Under this feature, the death benefit will be the same as that of the initial sum assured you have chosen for the first five years.
  • From 6th policy year to 10th year, it will increase at the rate of 10% per year.
  • From the 16th year of the policy period, it will remain the same throughout the remaining policy period.
  • Accordingly, your nominee will receive the death benefit during which period of the policy your death occurs.

Death benefit payment option to the nominee


Your nominee can receive the death benefit as a lump sum or in installments. If you opted for installments, then LIC will pay the death benefit installments in 5 years, 10 years or 15 years.
You can choose the full death claim amount be payable in installments or a certain portion of death claim in installments.
You can choose this installment option either at the time of buying or during the policy period.


More Details coming soon.