LIC's New Jeevan Amar

How it works

LIC's New Jeevan Amar is a lic & life insurance product from Life Insurance Corporation of India, in the conditional category: depends on terms being met. A pure term plan: it pays your family if you die during the term and nothing if you survive it.

Because the return type is conditional, the questions that matter most are: Which conditions have to be true for me to get the stated return? What do I get if those conditions are not met?

• Pure life cover at the lowest premium
• Protecting a family while loans are being repaid

Key facts

What can go wrong

• No money comes back if you survive the term.
• Stopping premiums lapses the cover, and revival has conditions.
• Cover ends at the end of the term, when renewal may cost much more.

Before you decide anything

• Level or increasing sum assured — which suits your needs
• The smoker/non-smoker rate that applies to you

These are questions to take to the provider, not a checklist that makes a product suitable. Whether something fits your situation is a decision only you — or an adviser you choose — can make.

Official sources

• LIC — plan details↗
• IRDAI — policyholder rights↗

These link to the regulator or provider where the rules for this type of product are set out. They are the pages worth checking before you act, because they are the ones that get updated.