LIC of IndiaTerm Insurance

LIC Jeevan Amar (855) Term Assurance Plan – Details with calculators

(Last Updated On: October 3, 2019)

LIC’s Jeevan Amar (Plan 855) is a newly introduced innovative Term Assurance / Pure Protection Plan. This plan offers more features, options, and flexibility to policyholders compared to other term plans. Term plans or pure protection plans offer high insurance coverage at a low premium. Jeevan Amar is an offline term plan. LIC has launched an online version of this plan with the name LIC’s Tech-Term(plan 854).

Salient features of LIC’s Jeevan Amar – Plan 855

  • Lower premium rates for non-smokers (Urinary Cotinine test is compulsory for non-smoker category).
  • Premium payment is possible in Single, Limited and Regular premium modes.
  • Level Sum Assured or increasing sum assured can be chosen as per the need.
  • Option to receive the death benefit in a lump sum or in 5, 10 or 15-year installments.
  • Minimum sum assured of 25 lakhs (in multiples of 1 lakh up to 40 lakhs and 10 lakhs thereafter).
  • No upper limit for the sum assured.
  • Special premium rates for women.
  • Attractive high sum assured rebates.

Read more: How much insurance coverage do you need (HLV)?

Jeevan Amar 855 – Eligibility conditions and restrictions

LIC’s Jeevan Amar (855) – Eligibility Conditions and Restrictions
ConditionMinimumMaximum
Age at entry18 years (Last Birthday)65 years (Last Birthday)
Maturity Age28 years (Last Birthday)80 years (Last Birthday)
Policy Term10 Years40 Years
Premium Payment Options
Regular premiumSame as policy term
Limited PremiumPolicy Term – 5 (For policy term 10 to 40 years)
Policy Term – 10 (For policy term 15 to 40 years)
Single PremiumSingle payment
Minimum Premium
Regular premium
Rs 3000
Single PremiumRs 30,000

Jeevan Amar Plan 855 – Death Benefit

Sum Assured on Death’ becomes payable in case of death claims provided the death occurs before the maturity date and the policy is in force at the time of death.

For Regular premium and limited premium policies

Sum Assured on death shall be the highest of

  • 7 times of annualized premium; or
  • 105% of all premiums paid as on date of death; or
  • Absolute amount assured to be paid on death.

For Single premium policy,

Sum assured on death shall be the higher of

  • 125% of the single premium.
  • Absolute amount assured to be paid on death.

(All rider premiums and extra premiums will be excluded for arriving at the premium paid)

Level Sum Assured vs Increasing Sum Assured

Two options are available under this plan to chose ‘Sum Assured at Death.’

Option 1: Level Sum Assured

Absolute amount assured to be paid on death shall be an amount equal to Basic Sum Assured which remains the same throughout the policy term.

Option 2: Increasing sum assured

Absolute amount assured to be paid shall remain equal to Basic Sum Assured till the completion of the fifth policy year. Thereafter it increases by 10% of basic sum assured each year from the sixth policy year till fifteenth policy year, whichever is earlier. From sixteenth policy year onwards the ‘absolute amount assured to be paid on death’ shall remain constant at twice the basic sum assured.

Lets us consider an example of a one crore sum assured policy with a 20-year term and the risk coverage will be as given below.

LIC Jeevan Amar Plan 855 - Level Sum assured vs increasing Sum Assured

Accident Benefit Rider

Accident Benefit Rider shall be available under Regular and Limited Premium Payment policies only. You can opt this rider at the time of inception or any time later within the premium paying period.

If this benefit is opted for and if the life assured is involved in an accident, leading to death and such incident occurs within 180 days from the date of the accident, then an additional amount equal to the Accident Benefit Sum Assured shall become payable. Maximum accident benefit sum assured shall be One Crore inclusive of all existing policies (excluding Jeevan Shiromani plan where additional one crore benefit shall be available).

Option to take Death Benefit in Instalments.

The death benefit can be received in installments over the chosen period of 5 or 10 or 15 years, instead of the lump-sum amount if required. This option can be exercised by the life assured during his lifetime also. The amount opted by the life assured can be either in absolute value or as a percentage of the total claim proceeds payable.

The interest rates applicable for arriving at the installment payments under this option shall be as fixed by the corporation from time to time.

Premium Calculator – LIC’s Jeevan Amar (Plan 855)

Minimum installment premium for regular/increasing sum assured shall be Rs. 3000. If the installment premium is below 3000 make modifications to bring it above 3000 either by increasing sum assured or term.

You can download the ready reckoner for knowing the premium of Jeevan Amar plan by clicking here.

If you are unable to view the online premium calculator here, click here to open Jeevan Amar Premium calculator in a separate page.

Jeevan Amar – Infogram Download

You can download this info-gram and share it freely by clicking here.

Sample premium – LIC’s Jeevan Amar Plan 855

LIC’s Jeevan Amar – Sample Premium
Policy Term / Premium Paying Term = 20/20 Years
(Regular Premium – Yearly Mode – Non-Smoker)
(Sum Assured 1,00,00,000; Option 1 – Level Sum Assured)
Age (LBD)MaleFemale
20Rs. 8,080Rs. 7760
30Rs. 9,280Rs. 8720
40Rs. 16,065Rs. 13260
* Illustration is exclusive of GST

Read more: Tech-Term – Online term assurance plan from LIC

Rebates on high Sum Assured

High sum assured rebates available for Jeevan Amar plan makes this plan even more attractive as the premium per Sum Assured gets reduced when a higher sum assured is opted.

Option 1 : Level Sum Assured
Age Band (LBD)High Sum Assured rebate as a % of Tabular Annual/Single premium
Less than 50 Lakh 50 Lakh to 1 Crore1 Crore and above
Up to 30 YearsNil12 %20 %
31 to 50 YearsNil10 %15 %
51 Years and aboveNil5 %7 %
Option 2 : Increasing Sum Assured
Up to 30 YearsNil10 %18 %
31 to 50 YearsNil8 %13 %
51 Years and aboveNil4 %6 %

Proposal Form – Jeevan Amar 855

You can download the proposal form for Jeevan Amar plan from the link provided here.

Read more: Why do you need term assurance?

Anish L J

Anish L J is a 'Financial Planner' and member of Chartered Insurance Institute(CII), London and Insurance Institute of India. He is also a finance, insurance and software consultant. He thoroughly follows the developments in finance, insurance, and other related sectors.

94 thoughts on “LIC Jeevan Amar (855) Term Assurance Plan – Details with calculators

  • What will be the premium for male 39 non smoker

    • Please use the calculator provided in the post itself. If you have any doubt please let me know.

  • What is Single premium for amount Rs. 2500000 for age 40 & above with accident rider

    • The premium of the plan changes with the term of the plan. For a 20-year term plan, the premium will be 119711 with GST.

  • What should be the premium for the following criteria?
    Policy Term – 40 Years
    Sum Assured – 1.5 Cr
    Premium Paying Term – 10 Years
    Mode – Yearly

    What kind of death will not be cover under this term plan?

    • All type of death is covered in this plan. The premium will vary based on your age. I have updated the post with an online premium calculator. Please check it.

  • sir, i am 58 years old,i wish you take lic amar term policy,mention medical tests and premium calculation

    • Hi Prasad, I have updated the post with the premium calculator. Please use it to know the required premium. You can check the medical requirements here. If you have any doubt, please let me know.

  • Sir, LIC’s newly introduced Term Assurance Plan namely “Jeevan Amar’ is one of its kind with many special features where such a product is not available in the industry with any other entities.
    C N Annadurai,
    Insurance and Mutual Fund Advisor

    • What you said is correct…

  • Sir the premium calculator is perhaps for increasing sum assured. Because for age 40 premium is showing 26000, but in exsmple you have mentioned around 16000

    • The premium of the plan changes with the term of the policy also. As the term is increased the premium also increases. In the example, I have shown the premium for the ten-year term and that too without GST. It seems you kept the term as 21. Please recheck using the calculator.

  • Pl provide premium caliculator

    • Premium calculator is available in the post itself. Please go to the Premium calculator section from the table of contents.

  • My mother age is 51 . Im going to take 5000000 policy. What are documents required to take this jeevan amar

    • Age proof, Address proof(KYC), PAN, Income Proof (Income tax return/Salary slip),Bank account details and medical requirements along with the necessary forms shall be provided. Check the medical requirements here.

  • 63 female. ..Non smoker …1cr. PPT .. Max/ min. At the time of maturity sub matured what happen…

    • Jeevan Amar is a pure term assurance plan. There will not be any maturity amount after the premium paying term. The only benefit is the death Sum Assured available during the premium paying term.

  • Sir I don’t have itr and salary slip.. Am I eligible for this plan

    • ITR or other income proof is compulsory as it is a term plan and minimum sumAssured is 25 lakh.

  • OK sir.. Can u help me out… What I have to do.. If I file a itr now of 1 year am I eligible to take the policy

  • OK sir.. Can u help me out… If I file a itr of 1 year.. Am I eligible to take the plan.. I’m 62 years old.. Want to take 2500000 cover

    • ITR for three years are required. If atleast two years itr is available, you can try by providing computation of tax for one year..

  • PROPOSAL FORM SAME FOR SINGLE PREMIUM ?

    • Proposal form is same for both regular and single premium..

  • Itr of how many years?

    • Three years

  • . I’m a 60 year old diabetic person… Will I get this plan for 20 years and what’s the premium

    • The underwriting department of LIC will decide based on your health conditions on accepting your proposal. They can ‘reject’ or ‘accept the proposal by charging an extra premium’ as per your conditions. The basic premium can be understood from the calculator provided in the post itself. Extra premium amount will be decided by LIC. In short, you should apply and undergo the medical test to know your eligibility for the plan.

  • Agar koi ye plan non smoker lene ke bad smoking suru Kar de th claim milega ki nahi teen saal bad Agar expire ho jaye

    • That is not a problem.. Always insurance company will look at the condition prevailing at the time of purchase of the policy.. also make sure that policy doesn’t lapse. Because at the time of revival you will have to undergo same tests again.

  • What benefit the proposer will get after the completion of PPT term payments of this plan 855.
    Is it beneficial for the person who wants to get the yielding profit from the invested amount .
    How much premium has to be paid for 25 Lakh SA policy.

    • Jeevan Amar is a pure term assurance plan where no maturity benefit becomes payable after the end of premium paying term. High amount of insurance is provided during the premium paying term at very low rates.
      So it will not provide any profit on investment amount..
      Premium can be calculated from the calculator provided in the post itself.

  • How to eligible for 50 lakhs insurance?

    • Apart from health, you should have the required income to take 50 lakh insurance. if you are below 35 years of age 25 times of your annual income can be proposed. Give your age so that I can provide the required income for 50 lakh sum assured.

  • In Jeevan Amar Policy, if the policy gets matured while the policy holder is alive, will you be able to settle his maturity returns.

    • As Jeevan Amar is a pure term assurance plan, no maturity benefit becomes payable on the life assured surviving the term of the policy.

  • Can I take this plan for my parents??

    • What is the age of your parents and do they meet the income requirements?

  • LAWYERS have any exemption for medical test ? 42yra 50 lakh sum insurance

    • For 50 lakh sum assured you will have to undergo medical examination even if you are a lawyer.

  • They do not have any income. I want to file on my income.

    • They are not eligible for the scheme.

  • Is there any medical test for a 55 year smoker…van i get this term plan without health test

    • The plan is not available without medical tests. To be eligible for non-smoker premium, you should undergo a urine cotinine test in addition to regular medical requirements.

  • sir,suppose i have taken SA of 1 Cr in regular premium mode for 40 yrs term. and if death happens in between after 10 yrs then what will be the benefits amount nominee get after death.

    • If you are taking level sum assured option the amount available will be 1 crore. For increasing Sum assured it will change as mentioned in the post.

  • I’m 51 years and wants 2500000lacs insurance. What’s the single premium for this plan.

    • For 25 lakh SA with level sum assured and 20 years term the single premium amount will be Rs. 185113 (Non smoker male).

  • My 32
    SA 1cr
    Period 40y
    Premium amount?

    • For Age 32 and term 40 Years with 1 crore sum assured the yearly premium with GST will be Rs.25577

  • For 31 years of age term 49years. Yearly income is 5lakh , how much yearly premium I have to pay for 1.20cr policy?. And presently my organisation is providing 20lakh term insurance and 40lakh accidental insurance.

    • Maximum term allowed is 40 years so for 40 years term and age 31, Premium for 1.2 crores will be Rs. 28766 yearly

  • Sir
    I am 58 years I want 40 laks policy how much premium I have paid for 15 year policy

    • For 40 lakhs sum assured and level premium option.. the yearly premium will be 39459 for a non smoker..(with GST)

  • Sir, I have applied for the LIC e-term Plan two days back (stil in process) and now I got the information about Jeevan Amar and Tech Term plan. Will there any difference in premiums of the two i.e. eTerm and Jeevan Amar. Do i still need to go for eTERM or should I cancel it and take either Tech Term or Jeevan Amar? Kindly Suggest.

    • Jeevan Amar and it’s online version Tech Term is more advanced and more cost effective plan compared to e term. So naturally it is advisable to go for Jeevan Amar instead of e term.

  • My Age is 33 yrs

    • To get eligible for 50 lakh sum assured you should have at least 2 lakh annual income. Please check this calculator to know eligibility conditions.

  • I’m 43 want to 1cr plan for 30yrs how much premium

    • Yearly premium for a non-smoker having 43 age and 30 years term will be 42527.(Yearly)

  • Company has already launched offline version jeevan amar, but nobody has correct information about their online tech term plan launch date.

    • Tech Term has already launched and can be purchased from this link.

  • My age 31. Increasing sa of 25,00000. Term 40 years. Limited premium – 10 years. What is premium amount.

    • For the given parameters the yearly premium will be 11948 including GST.

  • Company has already launched the offline jeevan amar plan, but no information about their online plan tech term plan is available.
    Any idea about the launch date

    • Tech term has already launched. Please check this link.

  • dear sir/s my mom is non working and dont have ITR , is there any posibility to get minimum sum assured of 25L for her, pls guide.i mean based on bank statement or something else.

    • Term plans require proper income proofs as the insurance coverage involved is very high compared to the premium. Please check this latest underwriting calculator to get a clear idea on the income proofs allowed.

  • Sir what is the annual income multiplier for jeewan amar.if someone annual income is 10 lakh salaried and has 1 cr term plan with icici Pru then up to which extent he can avail this policy.

    • Use this financial calculator to know the income required for Jeevan amar and the multipliers.

  • Sir how to calculate premium for increasing sum assured with accidental rider. It seems the calculator gives premium for level plan with no riders. Pls tell the premium for 1 Cr sum assured with 20L accidental benefit and increasing sum assured. My age is 29 and policy term 36 yrs

    • I have not incorporated increasing sum assured option to this calculator, I’ll be doing it soon. Well, the premium for increased SA as per the supplied parameters is 30286 for non-smoker category.

  • anish ji please tell premium for age 25 10000000 non smoker and limited pay 10years

    • For 1 crore sum assured, age 25, limited premium (term 10 and premium payment 5 years) the premium will be 16426 (with GST)

  • Sir my mother has proper ITR of last 6 years, but she has rental income, is it possible for her to buy jeevan amar policy. She has 5lac of ITR last year Can she take 1cr. SA Policy…???

    • Based on IT return she can take Jeevan Amar policy and as the income multiple is 20 times annual income, She can apply for 1 crore sum assured.

  • Please tell me the premium for increasing sum assured 55 years entry age non smoker male term 25 years…

    • For 25 lakh sum assured as per the above details, yearly premium will be 65254 including GST

  • is there any premium waiver benefit of lic jeevan amar plan

    • Premium Waiver benefit is available only to children’s plans. As Jeevan Amar is not a children’s plan premium waiver benefit is not available for the plan.

  • IS MEDICAL REQUIRED FOR THIS PLAN

    • A medical examination is compulsory for this plan.

  • Hello Anish, I have few queries of Jeevan Amar term insurance plan. Kindly clarify pls…

    1 – After completed of policy term and policy holder has live. Is mommie can get benifit ????

    2 – In this plan for single premium payment, is sarrender facility available ???

    3 – Taxe benifit – Is this come under 10 (10 d) ??

    • 1) Jeevan Amar plan does not have any maturity amount on the policy holder surviving the term of the plan. So nothing is payable to your mother after the term.
      2) Surrender facility is available for the Jeevan Amar plan for single as well as limited premium payment options.
      3) As this policy does not have any maturity benefit, section 10(10D ) is not applicable to the plan. However, section 80C benefit shall be available on the premium paid.

  • My salary is 12 k …can l applicable for 1 cr term plan jeewan Amar 855 plan ?

    • Normally 20-30 times of the annual income is the maximum sum assured allowed. So it may not be possible to take 1crore policy with the salary mentioned..

  • Dear Sir , I am looking to buy plan for my mother , she has 58 yr old . Is it possible to pay myself for mother policy ?

  • 42 year’s old female, 2500000 regular mode up to 62 age yearly premium,…8,707/-… Ok.
    But, his anual income how much ?.. limit.
    Please…. answer sir.
    I am shreebuvana lic agent….
    Thank you sir.

    • Your question is not clear to me. Can you elaborate a little.

  • kya family ko policy holder ki death kay baad easily payment ki jatti hai ya unne prreshaan kiya Jatta hai

    • Claim settlement procedure of LIC is easy and will not be an issue.

  • after policy holders death
    is family can receive money easily or not

    • If all the details are properly mentioned in the proposal and required forms are submitted claim settlement will not have any issues.

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