Who it suits
Anyone with a family, a loan or dependents. The most affordable way to build a large cover.
LIC plans / Term Assurance Plans
Term Assurance Plans
New Plan no. 955 UIN 512N350V02
LIC’s New Jeevan Amar
Non-par · Non-linked · Pure term
Pure protection: a high cover at low premium. Money is paid only if the life assured dies during the term.
18 – 65 years (varies with term)Entry age
10 – 40 yearsPolicy term
Single, limited or regularPremium paying term
High minimum sum assured. See the official brochure for the exact benefit formula.Sum assured
Plan highlights
What this plan gives you
The main features in plain words. The official brochure is the final word on every figure.
- High cover, low premium
- Level or increasing cover
- Special rates for women and non-smokers
How it works
Choose level or increasing sum assured, and single, limited or regular premium. There is no maturity benefit because the whole premium buys cover.
Death benefit
Sum assured as chosen (level or increasing), paid as lump sum or in instalments.
Maturity benefit
None. Pure risk plan.
Survival / income benefit
None.
Options and riders
Level or increasing sum assured
Special rates for non-smokers and women
Riders as listed in the brochure
Step by step
How the plan runs
1
Start the planEntry age: 18 – 65 years (varies with term). Sum assured: High minimum sum assured. See the official brochure for the exact benefit formula..2
Pay premiumsSingle, limited or regular3
Stay coveredPolicy term: 10 – 40 years. Death benefit applies during the term.4
Income during the termNone.5
Receive the benefitNone. Pure risk plan.At a glance
Eligibility and plan limits
A quick reference before you discuss a proposal. Underwriting and channel conditions apply.
| Plan detail | As per summary |
|---|---|
| Plan number | 955 |
| UIN | 512N350V02 |
| Category | Term Assurance Plans |
| Plan type | Non-par · Non-linked · Pure term |
| Entry age | 18 – 65 years (varies with term) |
| Policy term | 10 – 40 years |
| Premium paying term | Single, limited or regular |
| Sum assured | High minimum sum assured. See the official brochure for the exact benefit formula. |
- Sold offline through agents
Important details
Policy conditions that apply to most LIC plans
Know the conditions, not just the headline.
Grace period
30 days for yearly, half-yearly and quarterly premiums; 15 days for monthly. Cover continues during this time.
Free look
30 days from receiving the policy document to return it if you do not agree with the terms.
Revival
A lapsed policy can usually be revived within 5 years of the first unpaid premium, with arrears, interest and proof of good health.
Suicide within 12 months
If it happens within 12 months of the start of cover, the nominee receives 80% of premiums paid (policy in force).
Section 45
After three years a policy cannot be questioned except for proven fraud.
Quick answers
Questions families ask
Who is this plan for?
Anyone with a family, a loan or dependents. The most affordable way to build a large cover.
What is the entry age?
18 – 65 years (varies with term)
What are the policy term and premium paying term?
Policy term: 10 – 40 years. Premium paying term: Single, limited or regular.
What sum assured can I choose?
High minimum sum assured. See the official brochure for the exact benefit formula.
What happens if the life assured dies during the term?
Sum assured as chosen (level or increasing), paid as lump sum or in instalments.
What do I receive at maturity?
None. Pure risk plan.
Does the plan pay anything during the term?
None.
Are there options or riders?
Level or increasing sum assured
Special rates for non-smokers and women
Riders as listed in the brochure
Will the amounts always be paid exactly as shown here?
This page is a summary. Actual benefits depend on the policy terms, premium payment status, the options chosen, underwriting and LIC’s official benefit illustration. The official brochure is the final word.
Want this explained in plain words?
Read LIC’s official brochure, compare the options, and I will help you choose what fits your family.
This page is a summary. Benefits, eligibility and premiums can change: the official LIC brochure for the plan is the final word, and I will confirm current terms for you.