• LIC Jeevan Amrit Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    With increasing financial costs, most of us look for products which are economical and pocket friendly. LIC Jeevan Amrit is one such product which offers enhanced protection at economical rates. Flexibility and ease of implementation make it the perfect choice for members from the younger generation who aim to get the best value for their hard earned money.

    Eligibility Criteria for LIC Jeevan Amrit

    Individuals who are keen on purchasing this policy need to keep the following basic criteria in mind.

    Minimum entry age 12 years
    Maximum entry age 60 years
    Maximum age at maturity 70 years

    Key Features of LIC Jeevan Amrit

    Some of the distinguishing features which set LIC Jeevan Amrit apart from other plans are mentioned below.

    Plan type Endowment Scheme
    Plan basis Individual
    Premium paying terms 3, 4 or 5 years
    Policy term 10 to 30 years
    Maturity benefits On maturity, sum of all premiums invested and bonus accrued will be paid
    Premium payment frequency Half-yearly and yearly
    Loan Loan can be availed, subject to certain conditions
    Grace period 30 days grace period is available
    Free look period 15 day cooling-off period is provided, under which a policyholder can return the policy if he/she is unhappy with the terms and conditions
    Revival Lapsed policies can be revived by paying all dues within 5 years of first unpaid premium
    Nomination Nomination facility available
    Customisation NA
    Sum assured Minimum - Rs 1 lakh Maximum - no upper limit
    Policy coverage Maturity benefit, Death benefit

    Benefits of LIC Jeevan Amrit

    Some of the key benefits of LIC policies are mentioned below.

    • Loan - Policyholders can avail a loan under their policy, subject to them meeting certain basic criteria.
    • Surrender benefit - Policyholders are entitled to a surrender benefit if they choose to surrender their policy after a period of 1 year.
    • Flexible - Policyholders can choose a policy term and premium payment term which suits their needs.
    • Maturity benefit - Policyholders are entitled to a maturity benefit equivalent to the sum of the premiums paid and the bonuses accrued during the policy term.
    • Death benefit - In the event of demise of a policyholder, his/her nominee will be entitled to the sum assured and the bonuses accrued.
    • Rebates - Individuals who opt for a high sum assured are eligible for rebates on their premium amount.

    Working of LIC Jeevan Amrit

    The working of LIC Jeevan Amrit can be explained through the example of Miss Seema, a designer by profession. After having established herself both professionally and personally, Seema decides that it is time to invest in a good plan, opting for Jeevan Amrit. At age 35 years, she decides to take a policy with the sum assured being Rs 10 lakhs and the policy term being 25 years. Her premium works out to around Rs 70,000 per year for the first year, which she decides to pay annually. She also opts for a premium payment term of 3 years in the plan. The premium for the other years works out to be around Rs 36,000, which is paid every year.

    Her total premiums paid for the period of three years amounts to Rs 1.42 lakhs. Now in the event of Miss Seema passing away while the policy is in place, i.e., within the next 25 years, her nominee will receive a death benefit equivalent to the sum assured, which in this case is Rs 10 lakhs. Apart from this death benefit, any bonus accrued during the period either in the form of Simple Reversionary Bonus or Final bonus will be paid to the nominee. This entire amount is paid as a lump sum in one payment.

    The second scenario could see Miss Seema living a long and fruitful live, with the policy maturing after a term of 25 years. In this case, she will be eligible for a maturity benefit which is equal to the premiums paid and the bonuses accrued during this period. This means that she does not suffer any financial loss, making a decent profit on her investment thanks to the Reversionary bonus and final bonus.

    Premium Payment for LIC Jeevan Amrit

    Individuals who choose LIC's Jeevan Amrit have flexible options when it comes to paying premiums. One can choose to pay the premium either annually or semi-annually for a term of either 3, 4 or 5 years. The premium one pays depends on the sum assured and the policy term, with people who opt for a high sum assured eligible for rebates on their premium.

    Riders

    There are no additional riders provided with this policy.

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    LIC Jeevan Amrit Plan Reviews

  • Page 1 of 50 1 2 3 4 5
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy with the LIC. I pay a premium of 1 lac per year, it is so easy to make payments through the revamped LIC payment interface. I never faced any problems with their service and as it is run by the govt the service is trustworthy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 21, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've been using the LIC Jeevan Saral life insurance policy from the LIC. I pay a premium of Yearly 85000, the premium gets auto debited from the account. I never had any issues with their services. LIC is a recommendable insurance provider as it is run by the Government.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 21, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've been using the LIC Jeevan Umang Life insurance policy for a while. I pay a premium of 8700 per year, The tenure of this policy is 15 years. The premium gets auto debited from the account. I never had any issues with the services of LIC.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 21, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy for a while. I am paying a premium of 7000 Per year, my agent makes payment for this policy via cheque. I never had any issues with the service so far. LIC is a reliable insurance provider as far as I am concerned.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 21, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've been using the LIC Jeevan Anand Life insurance policy for a while. I am paying the premium of 10000 every 6 months. I never had any issues with their services. It is also easy to make payments. Being a govt run company the security for your money is guaranteed with the LIC.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 21, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my life insured with LIC from last 1 year and it is a long term policy. The tenure for this life insurance policy is for 20 years. I pay my premium once in 3 months by cash and i am convenient with the payment options. I am happy with the returns and benefits of this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 21, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 3.0/5 "Satisfactory"
      I have my life insured with LIC from last 8-9 years and it is a money back policy. I am happy with the coverage and returns of this policy; I pay my premium once in 3 months through net banking and i am satisfied with the terms and conditions of this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 21, 2018
    • LIC Life Insurance
      "Trusted Policy"
      0.5 3.0/5 "Satisfactory"
      I do online payment for this LIC policy. Good life secured policy. I found LIC is trustworthy to invest. I've been holding this policy more than 8 years. Risk coverage policy. Accidental and death benefitable policy. I used to pay the premium of Rs. 5000 every month. Its a life time policy. After 60 years it will get matured. I will get a sum assured amount of Rs. 10 lakhs
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I am using the life insurance policy from the LIC for which I am paying a premium of almost 1 lac. Their services are good and never faced any issues so far. The payment options are also nice with the LIC. Being a Govt company the security for investment is certainly there with the LIC,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've been using the LIC Bharti Jeevan Policy for a while. I pay a premium of 21000 per year. I make payments Via Cheque.. The service is good. No issues so far. The tenure of the policy is 15 years. Overall it has been a hassle free experience with the LIC and their services.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a life insurance policy with the LIC. I am paying the premium 11000, per year. The service good. It is so easy to make payments for this policy. I never faced any issues with their services. Being a govt company the security for my investment is guaranteed with the LIC.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the LIC Jeevan Tarang Policy for a while. It is take for my children. The tenure of the policy is 18 years. It can also be converted to a pension scheme where my children will be getting 28000 per year as a part of the plan. It is a useful policy and recommendable.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the LIC Bhima Gold Money back policy for a while now. I will get cash back every 5 years via DD. I pay a premium of 700 monthly for this policy. It is a very useful policy considering the low premium I pay. Overall it has been a good experience with the LIC and their services.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a Jeevan Anand policy with the LIC. I am paying the premium of 500 per month. It is too easy to make payments and I never faced any issues with their services. Being a govt company the security is there with the LIC Overall it has been a good experience .
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Better policy to use"
      0.5 5.0/5 "Blown Away!"
      I got the life insurance policy long back. This policy has the tenure of 20years. The plan benefits and the coverage is good with this policy . I would say i am satisfied having the Life insurance policy with Life Insurance Corporation of India.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Wonderful"
      0.5 3.5/5 "Pretty good"
      I am having the life insurance policy with the LIC of India. I would like to say that the customer service is good one and the response is better one too. Policy coverage value is good too with them. I am happy with the LIC of India.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I am having the Life Insurance policy with the Life Insurance Corporation of India. I would like to say that the customer service is also very good too and the response is good too. Coverage value is fine one too with the LIC of India.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Best"
      0.5 4.5/5 "Excellent!"
      Customer service is not experience with the Life Insurance Corporation of India, Policy coverage is good and I have taken two policy with the Life Insurance Corporation of India. Everything is better one with them till now.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "LIC is a very good policy"
      0.5 5.0/5 "Blown Away!"
      I have taken this LIC Jeevan Tarang policy 10 years before. I don't remember about the plans and benefits. I'm paying the premium amount of rs. 10000 six months once. I will come to know about the benefits when the maturity arrives. Total tenure of the policy is 12 years. Sum assured amount is 8 lakhs. Death benefits, Risk coverage and Accidental benefits are available. I used to make the payment through cash. My brother working as LIC agent and he suggested this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I have taken life insurance from LIFE INSURANCE CORPORATION OF INDIA and the yearly premium is 30000. The total maturity period is for 20 years. After the maturity period i will get the sum assured and the interest. I mostly do cash payment.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 19, 2018
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