PolicyBros.in
Term InsurancePlan 955NRI Eligible

LIC New Jeevan Amar

Flexible term plan with level or increasing sum assured options

What is LIC New Jeevan Amar?

LIC New Jeevan Amar (Plan 955, UIN 512N350V02) is a pure term insurance plan from Life Insurance Corporation of India. It is a non-participating pure risk plan: there are no bonuses and no share in LIC's surplus, which is exactly why the premium stays low for the cover it buys.

Premiums are paid through the policy term, in yearly, half-yearly, quarterly or monthly mode. If the policyholder dies during the term, the nominee receives: Sum Assured (level or increasing option) paid to nominee. There is no maturity or survival payout; the plan is pure protection.

It suits people looking for pure protection, increasing cover and young professionals. NRIs can buy this plan too.

Key Highlights

Choose level or increasing sum assured
Increasing SA keeps up with inflation
High coverage at competitive premiums
Special premium rates for females

Benefits Explained Simply

If Something Happens to You (Death Benefit)

Sum Assured (level or increasing option) paid to nominee

When the Plan Matures (Maturity Benefit)

None, pure protection

Eligibility & Details

Minimum Entry Age18 years (completed)
Maximum Entry Age65 years
Minimum Sum Assured₹25,00,000
Policy Term10, 15, 20, 25, 30, 35, 40 years
Premium Paying Term10, 15, 20, 25, 30, 35, 40 years
Bonus Typenone
Risk Levellow
NRI EligibleYes

Tax Benefits

  • Section 80C deduction on premiums

Premium Rates (Indicative)

Age20 years
20 yrs₹5,959
30 yrs₹7,830
40 yrs₹15,441

VERIFIED from official LIC Sales Brochure (Jul 2025). Pure term plan, Level SA Option I, Non-Smoker Male, Regular Premium, 20-year term. ₹50 lakh BSA. Also available: Increasing SA (Option II), Limited Premium, Single Premium. Special rates for women. No maturity, no surrender, no loan. Exclusive of taxes.

Source: LIC Official Sales Brochure | Data last verified: 21 March 2026

Example: What You Could Get

If a 30-year-old buys this plan with ₹10 lakh sum assured, 20-year term:

Annual Premium

₹1,566

Total Paid (20 yrs)

₹31,320

Death Benefit

₹10,00,000

No maturity benefit (pure protection)

Who is This Plan Best For?

pure protectionincreasing coveryoung professionals

Frequently Asked Questions

What is LIC New Jeevan Amar (Plan 955)?

LIC New Jeevan Amar is a term insurance plan from Life Insurance Corporation of India. Flexible term plan with level or increasing sum assured options.

What is the eligibility age for LIC New Jeevan Amar?

Entry age is between 18 and 65 years. Policy term: 10 to 40 years. Premium paying term: 10 to 40 years.

What is the minimum sum assured for LIC New Jeevan Amar?

Minimum sum assured is ₹25,00,000. There is no upper limit on sum assured.

What are the tax benefits of LIC New Jeevan Amar?

Section 80C deduction on premiums.

Is LIC New Jeevan Amar available for NRIs?

Yes. LIC New Jeevan Amar is available to Non-Resident Indians. NRIs can buy this plan during a visit to India or through power of attorney.

What happens if I stop paying premiums on LIC New Jeevan Amar?

If you stop paying premiums before 3 years, the policy lapses and you lose all benefits. After 3 years of premium payments, the policy acquires a paid-up value and you receive a reduced sum assured. You can also revive a lapsed policy within 5 years by paying outstanding premiums plus interest.

The information above is for educational purposes only. Actual premiums, benefits, and terms are as per LIC of India. For official and complete details, visit licindia.in.

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