LIC Jeevan Amar is a whole life, non-participating insurance policy from Life Insurance Corporation of India (LIC). It is a limited premium paying whole life policy with which you can provide lifelong protection to your loved ones.
If you are looking for a good life insurance policy, there are a few things you should consider when evaluating LIC’s Jeevan Amar policy.
Here are some points to consider:
Financial Security: This policy promises lifelong financial security for your loved ones. The policyholder’s sum assured will be paid out on maturity or death of the policyholder, whichever is earlier. Along with this, the policyholder will also receive bonus on the sum assured, which helps in increasing the total payout.
Flexibility: LIC’s Jeevan Amar policy gives the policyholder an option to choose the right sum insured according to their requirements. This policy gives the policyholder an option to choose the period of premium payment. The policyholder can choose to pay the premium for a period of 10, 15 or 20 years.
Easy Access to Loan Facility: The policyholders can avail a loan against their policy to meet any financial requirements.
Tax Benefits: The policyholder gets a tax deduction on the premium paid along with a tax-free payout under section 80C and 10(10D) respectively.
Overall, LIC's Jeevan Amar policy is a good option for those looking for life insurance that is lifelong and comes with flexibility, tax benefits, and a loan facility. It provides the policyholder with financial security and assurance of a guaranteed income on maturity or death.
To learn more, you can refer to LIC’s official website: