LIC’s Jeevan Amar Plan - Features
LIC’s New Jeevan Amar Plan is a pure risk cover Term plan of sum assured for Rs.25 lakhs or more which can be opted primarily for protection. In this plan, the nominee will get the entire Sum Assured if the Life insured dies during the policy term. There are no Maturity or Survival benefits.
LIC’s Jeevan Amar Plan – Benefits
- Survival Benefit : No benefit is payable on maturity as this is a pure protection plan
- Maturity - No benefit is payable on maturity as this is a pure protection plan
- Death Benefit : (provided the policy is In force) - The entire Sum Assured is paid to the nominee on death of the Life Insured during the policy term.
- Income Tax Benefit : - Premium paid under this plan is eligible for TAX rebate under section 80C of Income Tax Act
- Death Benefit will also be tax free under sec 10(10D)