LIC Jeevan Amar Plan 855
Premium Calculator - Term Insurance Plan
Key Features of LIC Jeevan Amar Plan 855
- Pure term insurance plan with high coverage at low premium
- Two death benefit options: Level Sum Assured and Increasing Sum Assured
- Special premium rates for women (lower premiums)
- Lower premium rates for non-smokers
- Minimum sum assured: ₹25 lakhs, No upper limit
- Entry age: 18-65 years, Maximum maturity age: 80 years
- Policy term: 10-40 years
- Three premium payment options: Regular, Limited, Single
- Option to add Accidental Death Benefit Rider
- High sum assured rebates available
- Death benefit payable in lump sum or installments
- Tax benefits under Section 80C and Section 10(10D)
When it comes to securing the financial future of our loved ones, life insurance plays a crucial role. One such reliable option available in India is the LIC Jeevan Amar Plan 855. This is a term insurance plan offered by the Life Insurance Corporation (LIC) of India, designed to provide comprehensive protection at affordable premiums.
What is LIC Jeevan Amar Plan 855?
LIC Jeevan Amar Plan 855 is a pure term insurance plan—this means it offers high-risk cover protection with no maturity benefits. The policy primarily focuses on providing financial security through a death benefit to the nominee if the policyholder dies during the policy term.
Key Highlights:
- It is a Non-Linked, Non-Participating, Pure Risk Premium Plan.
- Offers two options for the sum assured: Level Sum Assured and Increasing Sum Assured.
- Premium payment options include Single, Limited, and Regular premium modes.
- Provides options for the death benefit to be paid as a lump sum or in installments over 5, 10, or 15 years.
- Special premium rates for women.
- No loan facility against the policy.
- The minimum sum assured starts from Rs. 25 lakh with no upper limit.
Eligibility and Policy Terms
Before purchasing the policy, it’s essential to know the eligibility criteria and policy parameters.
| Parameter | Details |
|---|---|
| Minimum Entry Age | 18 years (Last Birthday) |
| Maximum Entry Age | 65 years (Last Birthday) |
| Maximum Maturity Age | 80 years (Last Birthday) |
| Policy Term | 10 to 40 years |
| Minimum Sum Assured | Rs. 25,00,000 |
| Premium Payment Terms | Single, Limited, or Regular |
| Premium Payment Modes | Monthly, Quarterly, Half-Yearly, Annually |
| Grace Period | 30 days (15 days for monthly mode) |
| Loan Facility | Not available |
These guidelines ensure that the policy fits a wide range of customers—from young adults to seniors seeking financial protection for their families.
Benefits of LIC Jeevan Amar Plan 855
The plan comes with several benefits that make it attractive for individuals looking for a secure term insurance policy.
Financial Security for Family
The nominee of the policyholder receives the sum assured if the policyholder dies during the policy term. The death benefit can be chosen as:
- Lump sum payment for the total sum assured, or
- Payouts in equal installments for 5, 10, or 15 years.
Multiple Premium Payment Modes
You may choose how to pay your premium based on convenience:
- Pay a single premium once at the start.
- Opt for limited premium paying term (pay premiums for a limited number of years).
- Choose regular premium payment throughout the policy term.
This flexibility makes it easier to plan financial commitments as per your capacity.
Sum Assured Options
- Level Sum Assured: The death benefit remains the same throughout the policy term.
- Increasing Sum Assured: The death benefit increases each year by a fixed percentage, protecting against inflation.
Rider Benefits
You can enhance your policy by adding an Accidental Death Benefit Rider which increases the sum assured if the death happens due to an accident at an additional premium cost.
Premium Rebates
The plan offers high sum assured rebates, which reduce the premium amount if you choose a larger sum assured, making it cost-effective for higher insurance needs.
Special Rates for Women and Non-Smokers
- Women get preferential premium rates.
- Lower rates for non-smokers subject to passing a urinary cotinine test.
These benefits make LIC Jeevan Amar Plan 855 one of the most competitive term insurance plans in India.
Understanding the LIC Jeevan Amar Plan 855 Calculator
Choosing the right coverage and tenure requires understanding premium amounts and benefits. The LIC Jeevan Amar Plan 855 Calculator is an online tool that allows you to estimate premiums, coverage, and benefits for your chosen parameters.
What Does the Calculator Do?
- Calculates premium amounts based on your age, sum assured, policy term, and premium payment mode.
- Shows premium differences for smokers and non-smokers.
- Optionally includes gender-based premium rates.
- Helps decide between Level Sum Assured and Increasing Sum Assured options.
- Shows the death benefit payout mode choices, including lump sum or installments.
- Gives you an idea of total premiums payable over the policy period.
By entering your details, the calculator quickly provides an accurate premium estimate, eliminating guesswork and simplifying decision-making.
How to Use the LIC Jeevan Amar Plan 855 Calculator?
Using the calculator is straightforward and user-friendly. Follow these simple steps:
- Enter your age (between 18 to 65 years).
- Select the policy term (from 10 to 40 years).
- Choose the sum assured (minimum Rs. 25 lakh).
- Pick your premium payment mode (single, limited, or regular).
- Indicate smoker or non-smoker status.
- Select gender for accurate premium rates.
- If available, choose your payout option (lump sum or installments).
After entering these details, click on Calculate to view your premium amount and other policy details.
Sample Premium Calculation
To understand how premiums vary, here is an example for a 30-year-old non-smoking male with a sum assured of Rs. 1 crore for a 20-year policy term:
| Payment Mode | Annual Premium (Approx.) |
|---|---|
| Regular | Rs. 9,280 |
| Limited (15 yrs) | Rs. 15,000 |
| Single | Rs. 1,50,000 (one-time) |
Female policyholders usually pay slightly lower premiums for the same coverage.
Note: Actual premiums may vary based on underwriting and GST taxes.
Important Considerations
While LIC Jeevan Amar Plan 855 offers exceptional coverage, keep the following points in mind:
- There is no maturity benefit; if the policyholder survives the term, no payout is made.
- The policy does not offer loans or withdrawals.
- Medical underwriting may require tests depending on age and sum assured.
- Make sure to disclose all information honestly to avoid claim issues.
- Review premium payment modes and terms for affordability.
Why Choose LIC Jeevan Amar Plan 855?
- Trusted Brand: LIC has a legacy of over seven decades with a high claim settlement ratio.
- Affordable Protection: Premiums are comparatively low for extensive coverage.
- Flexible Plans: Multiple premium modes and sum options suit different customer needs.
- Special Riders: Enhances coverage with Accident Benefit Rider.
- Easy Online Premium Calculator: Helps in quick and accurate decision-making.
Where to Find LIC Jeevan Amar Plan 855 Calculator?
Several insurance portals and LIC’s official website offer this calculator tool online for free. Using the official LIC or popular insurance aggregators’ calculators ensures accuracy and reliability.
Some trusted sources:
- LIC Official Website
- PolicyBazaar LIC Jeevan Amar Calculator
- Insurance21.in Jeevan Amar Premium Calculator
- InsuranceFunda Jeevan Amar Calculator
Frequently Asked Questions
What is LIC Jeevan Amar Plan 855?
LIC Jeevan Amar Plan 855 is a pure term insurance plan providing financial protection to the nominee in case of the policyholder’s death during the policy term. It offers high coverage at affordable premiums with flexible payment options.
Who is eligible to buy LIC Jeevan Amar Plan 855?
The policy is available for individuals aged between 18 and 65 years. The maximum maturity age allowed is 80 years. Policy terms range from 10 to 40 years.
Does LIC Jeevan Amar Plan 855 offer any maturity benefit?
No, this plan is a pure risk premium term plan with no maturity benefit. The sum assured is paid only if the policyholder dies during the policy term.
Can I add any riders to this plan?
Yes, you can add an Accidental Death Benefit Rider to increase the sum assured if the policyholder dies due to an accident, for an additional premium.
What is the minimum sum assured under this plan?
The minimum sum assured is Rs. 25 lakh, with no upper limit.
Can I get a loan against this policy?
No, the LIC Jeevan Amar Plan 855 does not offer any loan or surrender value, as it is a pure term insurance plan.
Conclusion
The LIC Jeevan Amar Plan 855 is an excellent term insurance option offering high coverage at affordable premiums with flexibility to cater to personal requirements. It ensures peace of mind by securing your family’s financial future in case of an unfortunate event.
Using the LIC Jeevan Amar Plan 855 Calculator is highly recommended for anyone planning to buy this policy. It eliminates confusion about premiums and benefits, helps plan your finances effectively, and makes choosing the right options easier.