Overview of New Jeevan Amar
LIC New Jeevan Amar is a pure protection term plan offering flexibility in coverage. Buyers can choose between Level Sum Assured, which remains constant, or Increasing Sum Assured, which grows by 10 percent annually from the sixth year until it doubles by the fifteenth year. The plan offers coverage up to age 80 with entry ages from 18 to 65 and a minimum sum assured of ₹25 lakh. It provides high sum assured rebates, lower premiums for women and non-smokers, and an optional accident benefit rider for added protection.
Experts' Review of New Jeevan Amar
Written by Monish Vora
Chief Editor
LIC New Jeevan Amar is designed as a flexible yet straightforward term plan for individuals who want pure risk cover without investment components. It allows buyers to choose from two benefit structures. The Level Sum Assured option ensures steady coverage, while the Increasing Sum Assured option raises protection by 10 percent annually between the sixth and fifteenth year, doubling the cover, and then keeps it fixed for the remainder of the term. This option is particularly valuable for younger buyers expecting their financial liabilities to grow over time.
Eligibility spans entry ages of 18 to 65, with maximum maturity at age 80. The minimum cover starts at ₹25 lakh, with no defined upper cap subject to underwriting. Policy terms range from 10 to 40 years, and premium payment options include regular pay, limited pay of 5 or 10 years shorter than the policy term, and single pay. Death benefits can be received either as a lump sum or in instalments over the chosen period of 5 or 10 or 15 years , with flexible payment frequency options and guaranteed interest on instalments linked to government securities.
Optional protection comes from the LIC Accident Benefit Rider, which adds an extra sum assured in case of accidental death. Women and non-smokers enjoy lower rates, and high sum assured rebates reduce costs significantly at higher cover levels.
Pros
LIC has decent track record with good claim and service metrics
Offers level and increasing cover options that provide stable or gradually expanding life cover over time.
Cons
The plan is not very feature rich. Lacks a wide range of features.
Premiums are relatively high compared to other term plans.
The plan lacks terminal illness, cover increase , and disability benefits usually offered by most other insurers.
LIC-Life Insurance Corporation of India
Key Insights
Founded
1956
LIC-Life Insurance Corporation of India was established 70 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
98.35% CSR, calculated as a 3-year average
LIC-Life Insurance Corporation of India settles 98.35% of all claims it receives demonstrating strong credibility.
Complaints
4.57 complaints per 10,000 claims registered
LIC-Life Insurance Corporation of India maintains a low volume of complaints, reflecting strong customer satisfaction and effective service.
Amount Settled
95.48% of total claim amount settled
LIC-Life Insurance Corporation of India demonstrates excellent claim payout efficiency, settling over 95.48% of the total claim amount filed, reflecting strong financial reliability.
The aforementioned ratios have been averaged over three years (FY24-FY26)
Features of New Jeevan Amar
Add-ons of New Jeevan Amar
Accident Benefit Rider
Provides an additional payout in case of death due to an accident during the policy term.
Exclusions in New Jeevan Amar
Conditions or treatments that the policy clearly says it will not cover.
Death by suicide within the first policy year is not covered.
Deaths arising from participation in criminal or unlawful activities are excluded.
If the nominee is found responsible for the insured’s death, the claim will not be payable.
If a death claim is proven to be fraudulent, the insurer will not pay out the benefit.
Disclaimer: For illustration purposes only - exact terms are in the policy wording.
Variants of New Jeevan Amar
Level Cover
Pure Term cover. The sum assured remains constant throughout the entire policy term.
Increasing Cover
The sum assured remains constant for the first 5 years, then increases annually by 10% from the 6th year onwards, up to a maximum of 200% of the base sum assured, after which it remains fixed for the rest of the policy term.
What's missing in New Jeevan Amar
No Zero Cost Option
No Terminal Illness Benefit
No Top-Up Option
No Waiver of Premium
No option to decrease your cover over time
No payout on disability
You can't recover your premiums after policy matures
No Critical Illness Benefit
No Special Exit Value
No Cover Continuance Benefit
No option to increase cover at life milestones
No Insta Payout Benefit
Reviews for New Jeevan Amar
N
Nikhil Thakur
Took this plan income payout option se ghar ka cashflow set and income payout option se ghar ka cashflow set Good value No stress For me for
A
Ameya Varma
Signed up for New Jeevan Amar payout choice feels practical and payout choice lump sum or income feels practical Satisfied Works well ok so far
I
Ishita Chandra
Signed up for this plan payout choice lump sum or income feels practical and payout choice lump sum or income feels practical Good value good
R
Rajat M. Kumar
Picked this plan payout choice lump sum or income feels practical but coverage age limit feels slightly low Not bad overall Honestly ok good
O
Omkar Y. Mehta
Picked this plan payout choice lump sum or income feels practical and payout choice lump sum or income feels practical Good value ok value feels
Frequently Asked Questions
What is the LIC New Jeevan Amar Plan?
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