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Thursday, 8 August 2019

LIC launches cheap term insurance plan Jeevan Amar, know what its benefits are

New Delhi, Business Desk.  Life Insurance Corporation of India (LIC) has launched a new insurance plan.  This plan is named Jeevan Amar. 
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The sale of this plan will be done offline.  That is, it can be purchased only through LIC agent.  According to LIC, this plan is cheaper in price as well as being a traditional and pure protection term insurance plan.  Please tell that LIC has withdrawn the priceless life term plan available earlier and has included many new features in this new plan.  According to LIC, in this plan, the customer can choose any of the death benefit options like Level Sum Assured and Increasing Sum Assured.   In this Jeevan Amar plan of LIC, the policy term will be from 10 years to 40 years.  People from the age of 18 to 65 years can take this plan.  Jeevan Amar plan has a maximum edge maturity of 80 years.   Talking about payment in this plan of LIC, there are three options for paying premium in it.  These three options are - Single Premium, Limited Premium and Regular Premium.  The minimum premium payment installment is Rs 3,000 in regular and limited premium options.  At the same time, the minimum premium installment in the single premium option has been kept at Rs 30,000.   The maximum age of premium payment in this plan has been kept at 70 years.  According to LIC, no surrender value will be available in the regular premium option.  Also, regular premium will be available in sing premium.  Talking about limited premium, it will have 2 options.  There will also be some conditions attached to it.  The amount of premium payment is different for women and men.  Similarly, for those who smoke, the premium will be different and for those who do not smoke, there will be a different premium amount.

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