Lic Jeevan Amar Policy gives a little less benefit to the smokers. Smokers have to pay a higher premium than the rest.
LIC Jeevan Amar Policy is one such term insurance plan that claims higher benefits with lower premiums. On the other hand, policyholders who smoke have to pay higher premiums than the rest. This LIC policy provides financial assistance to the nominee and his/her family in case the policyholders die in a sudden accident. Let us also tell you what are the features of this policy and how much premium you have to pay for it.
Tenure and Premium
- There are many premium paying options available in LIC’s Jeevan Amar plan.
In the policy, you have been given options like Single Premium, Regular Premium and Limited Premium. - Option is also given in Limited Premium, with premium paying term in which the policy term is less than 5 years.
- Whereas other policy terms are less than 10 years.
- By the way, the maximum age for paying premium will be 70 years.
- In Regular and Limited Premium option, you will get minimum premium of Rs.3000.
- The minimum premium in single premium option is Rs.30,000.
The policy can be returned at any time
On the other hand, if the policyholder is not satisfied with the Jeevan Amar policy, then you can return it also. For this certain conditions have to be fulfilled. According to the information, if you are not satisfied with the terms of the policy, then the policy can be returned to the company within 15 days from the receipt of the policy bond. After which the LI will cancel the policy and the deposited premium amount will be returned after taking some charges.
Who can take this policy
- LIC Jeevan Amar policy can be taken by people of 18-65 age group.
- The maximum maturity age of this policy is 80 years.
- The term of this policy will be from 10 years to 40 years.
- You will not get any surrender value in the regular premium option.
- At the same time, this facility available in single premium will be available to you.
- Limited Premium Option has certain terms and conditions.
- The premium amount will be different for men and women.
Smokers will have to pay higher premium
While the premium for women and men will have to be paid separately, the smokers will have to pay higher premium. Apart from this, those who do not smoke will have to pay the premium normal only.
