HomePersonal FinanceLife InsuranceLIC Jeevan Amar (Table 855) - New LIC Term Plan

LIC Jeevan Amar (Table 855) – New LIC Term Plan

LIC Jeevan Amar

LIC Jeevan Amar Table 855 is a New Term Plan by LIC. Jeevan Amar is a non-linked, non-participating life term insurance plan. LIC Jeevan Amar is offline term plan. The features of this plan are similar to LIC Tech Term Online Term Plan (Table 854). The main difference between these two plans is the amount of sum assured and mode of purchase. LIC Jeevan Amar is available only for offline purchase. Along with LIC Jeevan Amar, another online term plan LIC Tech Term is launched. You can read a review of LIC Tech Term plan here. Prior to this LIC has already launched other term plans such as e-Term, Amulya Jeevan, Anmol Jeevan, etc. However, this plan is different. Here is information about LIC Jeevan Amar.

Jeevan Amar Plan is launched on 5th Aug, 2019.

LIC Jeevan Amar (Table 855) – New Term Plan by LIC

Key Features

  • Jeevan Amar is Pure Term Plan. This plan is sold in offline mode only.
  • This plan offers two benefit options level sum assured and increasing sum assured.
  • This plan offers lower rates for non-smoker lives.
  • Special premium rates for women is offered under this plan.
  • The coverage offered by this plan is up to 80 years of age.
  • Accidental benefit rider is available during premium paying term under regular and limited premium policies.
  • The death benefit can be taken as a lump sum or in installments.
  • You can pay premium as a regular, single or limited mode.
  • Minimum sum assured under this plan is 25 Lakh.

Also Read – LIC Premium Paid Certificate Download For Income Tax Purpose – Online

Eligibility Conditions

  • Entry Age – 18 years to 65 years
  • Maximum Maturity Age – 80 years
  • Minimum Sum Assured – 25 Lakh
  • Maximum Sum Assured – No Limit
  • Policy Term – 10 to 40 years
  • Premium Payment – Single, Regular, Limited Premium

LIC Jeevan Amar Vs LIC Tech Term

Product features of LIC Jeevan Amar and LIC Tech Term Plan are same. The differences between these plans are given in the following table

Jeevan Amar PlanTech Term Plan
Offline Term Plan by LIC (Table 855)Online Term Plan by LIC (Table 854)
Minimum Sum Assured 25 LakhMinimum Sum Assured 50 Lakh
BSA Multiple 1 Lakh up to 40 Lakh

BSA Multiple 10 Lakh after that

BSA Multiple 5 Lakh up to 75 Lakh

BSA Multiple 25 Lakh after that

High Sum Assured Rebate – 50 LakhHigh Sum Assured Rebate – 1 Cr

LIC Jeevan Amar – Death Benefit

LIC Jeevan Amar Plan will be sold in two categories. Level sum assured and Increasing sum assured.

Level Sum Assured – Under level sum assured, the basic sum assured amount will remain constant throughout the policy year. Your nominee will receive the basic sum assured in case of unfortunate death of the policyholder.

Increasing sum Assured – Under increasing sum assured, basic sum assured will increase with the age. If a policyholder has opted for increasing sum assured nominee will receive an initial sum assured for the first five years. From 6th year to 15th-year sum assured will increase 10% per year. From 16th years onward till policy term sum assured will remain same. This means death benefit in case of increasing sum assured will depend on policy year of death. You nominee will receive death benefit as per applicability.

Jeevan Amar

The death benefit described above is same as that for LIC Tech Term Plan.

Death Benefit Payment Option

At the time of purchasing policy, you have option to select death benefit payment option.

  • Lump Sum Payment – This option leads to onetime settlement of death benefit. Nominee will receive sum assured as death benefit in the single go.
  • Installment Payment – This option leads to division of death benefit into installment. Nominee will receive installment in 5 years, 10 years or 15 years as per selection of option. This option can be opted at initial stage or later stage during policy year.

LIC Jeevan Amar – Premium Detail

LIC Jeevan Amar Premium Details for level sum assured and Increasing sum assured is given below.

Basic Sum Assured – 50 Lakh

Non Smoker


Option 1 – Level Sum Assured

AgePolicy TermRegular Annual PremiumAnnual Premium for Limited Premium Paying Term of (Policy Term minus 5 Years)Annual Premium for Limited Premium Paying Term of (Policy Term minus 10 Years)Single Premum

Option 2 – Increasing Sum Assured

AgePolicy TermRegular Annual PremiumAnnual Premium for Limited Premium Paying Term of (Policy Term minus 5 Years)Annual Premium for Limited Premium Paying Term of (Policy Term minus 10 Years)Single Premum

Note – Above premium rate is exclusive of GST amount.

Jeevan Amar Poster

Over to you –

LIC Tech Term and LIC Jeevan Amar both are term plan only difference is in sum assured and mode of purchase. Although LIC Tech term and LIC Jeevan Amar features are same you will find big difference in the premium amount. You need to pay more money for buying Jeevan Amar.

As far as flexibility and features it is a very good plan. It also provides a benefit of increasing in sum assured. This means you need not to purchase an additional policy at a later stage.

If you have not purchased term plan and looking for recommendation in making selection between Tech Term and Jeevan Amar. My advice would be to purchase online term plan LIC Tech Term.

For more information refer to LIC website.

Shitanshu Kapadia
Shitanshu Kapadia
Hi, I am Shitanshu founder of moneyexcel.com. I am engaged in blogging & Digital Marketing for 10 years. The purpose of this blog is to share my experience, knowledge and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment , tax, financial advice or legal opinion. Please consult a qualified financial planner and do your own due diligence before making any investment decision.