LIC Jeevan Amar Policy: Good or Bad?

taara_raval

LIC Jeevan Amar is a new policy from LIC. It is a whole life insurance policy with guaranteed returns. It seems like a good policy, but I'm not sure if it is the right policy for me. I'm curious to know what others think about this policy.

ticklishsnake488

LIC Jeevan Amar is a single premium endowment plan that offers life cover, a maturity benefit and loyalty additions.This plan provides financial protection to your family in the event of your unfortunate demise, as well as a significant sum assured at maturity.

Here are some points you should consider when deciding if LIC Jeevan Amar is the right plan for you:

Life Cover: This plan provides a good amount of life cover at an affordable premium. On death during the policy term, the nominee will receive the full sum assured plus any loyalty additions as specified by the plan.
Bonus Rates: This plan has higher bonus rates than some other endowment plans. Over the policy term, these bonuses will continue to accrue, increasing the sum assured.
Maturity Benefit: Upon maturity of the policy, you will receive the full sum assured plus any loyalty additions as specified by the plan. This can be a great way to get a lump sum to help meet your financial goals.

4.Surrender Value: You may choose to surrender the policy if your financial needs change. The amount received will be the Guaranteed Surrender Value (GSV) plus any loyalty additions as specified by the plan.

It is important for you to review all the features and benefits of LIC Jeevan Amar before deciding if it is an ideal plan for you. You may also consider taking guidance from a qualified financial advisor who can assess your unique financial needs and help you identify a plan that works best for you.

Ved882

LIC Jeevan Amar is a non-linked, non-participating life insurance plan offered by Life Insurance Corporation of India (LIC).

If you are looking for an easy way to provide your family with financial security in case of sudden death or total disability, LIC Jeevan Amar is a good policy worth considering. Here's why:

Flexible policy term: LIC Jeevan Amar offers three different policy terms of 10, 15 and 20 years that can be chosen according to your needs.
High sum assured: You can opt for a high sum assured of up to Rs. 25 lakhs with this policy, depending on your age and financial situation.
Loyalty additions: During the policy term, you will receive Loyalty Additions at regular intervals (5% at the end of 5th policy year and 10% at the end of 10th policy year).
Tax benefits: You can avail of tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961, on premium paid and benefits received under the policy, respectively.
Survival benefits: During the policy term, you will receive survival benefits at regular intervals, provided you are alive during the payment.

Overall, LIC Jeevan Amar is a flexible plan that provides your family with financial security and peace of mind, as well as a number of tax and loyalty benefits. However, it is important to understand the features and fine print of the plan before deciding if it's a good fit for you. You can find more information about the plan here on Life Insurance Institute of India's website:
https://www.lifeinsuranceinstitute.in/lic-jeevan-amar-an-overview/

Anand251

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:
https://www.licindia.in/Products/Insurance/jeevan-amar

Vidya436

It really depends on your particular situation and needs. Jeevan Amar is a non-linked, non-participating, whole life insurance plan from LIC India which provides a combination of savings and protection. It provides financial security to your dependents in the form of a death benefit, along with providing a maturity benefit at the end of the policy tenure. If you are looking for a lifelong financial security, Jeevan Amar could be a good option for you. But, you should do your own research into the policy before investing in it. Compare other life insurance policies and their features to figure out the one that best suits your needs. Make sure you thoroughly understand the terms and conditions of the policy, and check if there are any riders that you can opt for. Armed with this information, you can decide if LIC Jeevan Amar is the right policy for you.