New Jeevan Amar – 955 is a non-linked, non-participating pure term insurance plan from LIC designed to provide strong financial protection to your family in the unfortunate event of your demise. With highly affordable premiums, flexible policy terms, and customizable coverage options, this plan ensures long-term financial security for your loved ones.
LIC’s New Jeevan Amar – 955 is one of the most prominent pure term insurance plans introduced to address the evolving financial security needs of modern families. Designed as a non-linked, non-participating term assurance plan, it focuses solely on providing risk coverage without involving savings or investment components. This makes it an ideal choice for individuals who are looking for a high-cover, low-cost insurance solution to protect their family’s future. The absence of a savings element ensures that the premiums remain low and affordable, allowing policyholders to secure a large sum assured without financial strain.
The plan is structured to offer maximum flexibility with respect to policy term, premium payment structure, and benefit payout. Policyholders have the freedom to choose a policy term ranging from 10 to 40 years, ensuring that the insurance aligns with major life milestones such as children’s education, marriage, home loans, and retirement planning. Additionally, the premium payment modes include regular pay, limited pay, and single premium options, enabling individuals with varying financial capacities to select a mode best suited to their needs. The flexibility extends further to the benefit payout structure where the insured can opt for either a lump-sum benefit or a combination of lump sum and regular installments to ensure better financial management for the family after their demise.
One of the significant highlights of New Jeevan Amar is its focus on offering differential premium rates based on gender and smoking habits. Women and non-smokers enjoy substantially lower premiums as compared to men and smokers. This differentiation encourages a healthier lifestyle while rewarding individuals who fall into lower-risk categories. The underwriting process includes medical examinations to determine overall health and eligibility, ensuring that each policyholder receives the most accurate and fair premium structure based on their risk profile.
The plan also offers special coverage options that enhance its protection features. The most notable among these is the LIC Accidental Benefit Rider, which can be added to the base policy to provide an additional payout in case the policyholder’s death results from an accident. This rider is especially beneficial for individuals who are involved in occupations that carry a higher level of risk or those who frequently travel. By incorporating this rider, policyholders can ensure that their families receive extra financial protection during unforeseen circumstances.
Another important feature of New Jeevan Amar is the option to choose between two types of sum-assured plans: Level Sum Assured and Increasing Sum Assured. Under the Level Sum Assured option, the basic sum assured remains constant throughout the policy term. However, with the Increasing Sum Assured option, the sum assured increases annually after the completion of the 6th policy year until it reaches twice the base sum assured. This increasing benefit structure helps policyholders keep pace with inflation, rising living costs, and growing financial responsibilities, ensuring that the coverage remains relevant and adequate over the long term.
The New Jeevan Amar plan is designed to provide extensive coverage regardless of the policyholder’s age or occupation. The entry age begins as low as 18 years and extends up to 65 years, making it accessible to both young professionals and older adults seeking late-stage financial security. The maximum maturity age of 80 ensures prolonged protection, which is especially valuable for individuals with late retirement plans or multiple dependents.
One of the major advantages of this plan is the financial stability it guarantees to the policyholder’s family. In the event of the policyholder’s death within the policy term, the nominee receives the sum assured as a financial cushion. This payout can be crucial in meeting ongoing expenses, debt repayments, education costs, and other financial obligations. By offering a pure risk cover solution, New Jeevan Amar helps families avoid sudden financial disruptions and maintain their lifestyle even in the absence of their primary breadwinner.
Tax benefits also play a significant role in the appeal of this plan. Premiums paid towards New Jeevan Amar are eligible for tax deductions under Section 80C of the Income Tax Act. Additionally, the death benefit received by the nominee is fully tax-exempt under Section 10(10D), ensuring that the financial support reaches the family without deductions. These tax incentives make the policy not only a secure protection tool but also a financially efficient component of one’s long-term planning strategy.
With its combination of affordability, flexibility, and strong risk protection, LIC’s New Jeevan Amar is suitable for salaried employees, business owners, self-employed professionals, and high-net-worth individuals alike. The plan ensures that regardless of one’s income bracket, dependable financial protection is always within reach. Whether an individual is looking to secure their family’s future, safeguard ongoing financial commitments, or simply ensure peace of mind, New Jeevan Amar stands out as a reliable and trusted solution backed by the guarantee of LIC.
In conclusion, the New Jeevan Amar – 955 plan is a powerful and essential term insurance solution that emphasizes life protection while offering exceptional value. With customizable features, high coverage options, inflation-adjusted benefits, and strong rider enhancements, it seamlessly integrates into the long-term financial planning of any responsible individual. Choosing this plan means ensuring that your family's future remains protected, stable, and financially secure, regardless of what life may bring.