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LIC launches 'New Jeevan Amar' and 'Tech Term' insurance plans — Check key features here

LIC launches 'New Jeevan Amar' and 'Tech Term' insurance plans — Check key features here

LIC launches 'New Jeevan Amar' and 'Tech Term' insurance plans — Check key features here
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By Anshul  Nov 23, 2022 3:42 PM IST (Updated)

LIC Jeevan Amar Plan: A customer can also choose a single premium payment or a regular premium payment. A limited premium payment option is also offered. A customer can also opt for an accident benefit rider on payment of an additional premium. Read more here

Life Insurance Corporation (LIC) on Wednesday launched two new products - New Jeevan Amar and Tech Term. Both are term assurance plans. Both the plans are non-linked and non-participating plans, which means policyholders pay fixed premiums and receive guaranteed returns.

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Non-linked plans are low-risk products that are not linked to the stock market.
As per media reports, LIC first withdrew these old plans and relaunched their new versions.
According to the LIC sales brochure, both plans offer special rates for women and premium rates differ for non-smokers and smokers.
Key features of LIC’s New Jeevan Amar:
  • Flexibility to choose from two benefit options: Level Sum Assured and
  • Increasing Sum Assured.
  • Flexibility to choose from Single Premium, Regular Premium and Limited Premium Payment
  • Flexibility to choose the Policy Term/Premium Paying Term
  • Opt for payment of benefit in instalments.
  • Special rates for women
  • Benefit of attractive High Sum Assured Rebate
  • Two categories of premium rates namely (1) Non-Smoker rates and (2) Smoker rates. The application of Non-Smoker rates shall be based on the findings of the Urinary Cotinine test. In all other cases, the Smoker rates will be applicable.
  • Option to enhance coverage by opting for Accident Benefit Rider on payment of additional premium for the rider benefit
  •  a) Name of the Product LIC’s New Jeevan Amar
     b) Date of Launch23rdNovember, 2022
     c) Category of Product Non-Linked, Non-Participating, Individual, Pure Risk Premium Life Insurance Plan
     d) Whether caters to domestic and international market Domestic market
    A customer can also choose a single premium payment or a regular premium payment. A limited premium payment option is also offered. A customer can also opt for an accident benefit rider on payment of an additional premium.
    While the basic sum assured is Rs 25,00,000, no maximum sum has been set.
    Citizens in the age group of 18-65 years can buy the New Jeevan Amar policy. The policy term is 10-40 years.
    Key features of LIC’s New Tech-Term:
    • Flexibility to choose from two benefit options: Level Sum Assured and Increasing Sum Assured
    • Flexibility to choose from Single Premium, Regular Premium and Limited Premium Payment
    • Flexibility to choose the Policy Term/Premium Paying Term
    • Opt for payment of benefit in instalments.
    • Special rates for women
    • Benefit of attractive High Sum Assured Rebate.
    •  a) Name of the Product LIC’s New Tech-Term
       b) Date of Launch23rdNovember, 2022
       c) Category of Product Non-Linked, Non-Participating, Individual, Pure Risk Premium Life Insurance Plan
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