what is lic jeevan amar plan

LIC Jeevan Amar Plan 855

Jeevan Amar Plan 855 offered by LIC is a Non-Linked, Without Profit, Pure Protection term insurance plan. In this term insurance plan, you get two options to choose the death benefit, Level Sum Assured and Increasing Sum Assured.

The policy term of this time plan is for a minimum of 10 years and a maximum of 40 years. In case of death of the life assured during the policy term, a minimum insurance benefit of Rs 25 lakh is provided to the nominee by the life assured.

Through LIC Jeevan Amar 855, you can avail the benefits of a term insurance plan at a very affordable rate.

Features Of LIC Jeevan Amar Plan 855

Features of LIC Jeevan Amar Plan 855 are as follows-

  1. In term insurance plans you are provided with two options to choose the death benefit. You can choose any option from Level Sum Assured and Increasing Sum Assured at the time of taking the policy.
  2. You get this term insurance plan for a minimum period of 10 years and a maximum period of 40 years. You can choose any policy term as per your requirement.
  3. In this, you get the option of single premium, regular premium and limited premium payment for premium payment.
  4. Special discount is offered to women in LIC Jeevan Amar plan 855.
  5. Premium rates are different for Non-Smoker and Smoker. Non-Smokers are provided with a discount in the premium rate.
  6. LIC Jeevan Amar Plan 855 plan provides a minimum sum assured of ₹25 lakh in case of death of the life assured.
  7. LIC Jeevan Amar Plan 855 Plan also provides you the option of adding riders to your term insurance plan. Through this you can add Accident Benefit Rider. For this you have to pay additional premium.
  8. In this you get a free look period of 15 days. If you are not satisfied with this plan, you can opt out of the policy within 15 days.
  9. You get a grace period of 30 days in LIC Jeevan Amar Plan 855. If you are unable to pay your premium on the due date, then you are given an additional time of 30 days to pay the premium.

LIC Jeevan Amar Plan 855 Benefits

The benefits of LIC Jeevan Amar Plan 855 are as follows-

  1. Death Benefit:

By taking LIC Jeevan Amar Plan 855 plan, if the death of the life assured occurs during the policy term, then the sum assured is provided as death benefit to the nominee by the life assured. The minimum sum insured is Rs 25 lakh. There is no limit on the maximum sum insured. This is determined by the insurance company.

You get two options to receive the death benefit. You can choose to receive the death benefit in lump sum or you can also choose to receive your death benefit in installments over 5 or 10 or 15 years.

what is lic jeevan amar plan
  1. Maturity Benefit:

LIC Jeevan Amar Plan 855 is a type of term insurance plan. Hence, if the life assured survives the policy term, no maturity benefit is provided to him.

  1. Rider Benefit:

You can further enhance the coverage of your LIC Jeevan Jeevan Amar Plan 855 by adding riders. You also get the option of adding riders in this plan. You can further enhance the coverage of your term plan by adding Accident Benefit Rider to it.

It is worth noting that adding riders requires you to pay an additional premium. Hence, you can avail this rider by paying an additional premium.

  1. Tax Benefits:

In LIC Jeevan Amar 855, you are also provided with tax benefits under the Indian Income Tax Law. In this, you are provided tax exemption on the premium paid under Section 80C of the Income Tax Act, 1961.

LIC Jeevan Amar Plan 855 Eligibility

Eligibility for LIC Jeevan Amar Plan 855  is as follows-

Policy holder’s age (age as on last birthday)Minimum age of entry: 18 years
Maximum age of entry: 65 years
Maximum age at maturity: 80 years
Sum assuredMinimum sum assured: Rs.25 lakh
Maximum sum assured: No upper limit
Policy tenureMinimum tenure: 10 years
Maximum tenure: 40 years
Premium paying termRegular premium: same as policy term  
Limited premium: Policy term (minus) years for policy tenure 10 to 40 years.
Policy term (minus) 10 years for policy tenure 15 to 40 years
Single Premium: NA

Documents Required For LIC Jeevan Amar Plan 855

The documents required for LIC Jeevan Amar Plan 855 are as follows-

1. Filled Application Form 

2. Medical Report 

3. Age proof (any one of the following):

  • Birth certificate, 
  • driving license, 
  • Passport, 
  • School or College Certificate. 

4. Identity proof (any one of the following):

  • Aadhar card, 
  • voter id, 
  • Passport, 
  • PAN card, 
  • driving license.

5. Address Proof (Any one of the following):

  • Aadhar card,
  • utility bill, 
  • Bank Account Statement. 

6. Income Proof (Any one of the following):

  • it returns, 
  • Bank Passbook.

LIC Jeevan Amar Plan 855 Premium

In LIC Jeevan Amar Plan 855, you get multiple premium payment options. You can make the premium payment for this plan in the form of Regular Premium, Limited Premium etc. In this you do not get any option of single premium payment. 

How To Buy LIC Jeevan Amar Plan 855?

To buy LIC Jeevan Amar Plan 855, you need to visit the nearest branch of LIC. You will have to go to the nearest branch of LIC, get the application form for this, fill it completely and provide the necessary documents and you can buy this plan easily. 

It is important to note that before visiting the LIC branch, you must carry all your necessary documents with you. So that you can get this plan immediately. 

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