Life Insurance Corporation of India
LIC's New Jeevan Amar
LIC's OFFLINE term plan
UIN 512N350V02We don't sell this — we'll still recommend if it fits
The dealbreaker fields (term life)
Sum assured (max)
—
Claim settlement (CSR)
98.6%
Claims TAT
[object Object] days
Suicide exclusion
12 months
Payout options
Lumpsum · Installments over 5/10/15 years
Premium payment
Single Premium · Regular Premium · Limited Premium PT-5 +1
Policy term
10–40 yrs
Surrender value
no
Free look
30 days
What this plan does well
- GOVERNMENT-BACKED — Life Insurance Corporation of India (largest insurer in India)
- Increasing SA Option (Option II) — 10% Basic SA annual increase, max 2x BSA — DEALBREAKER UNIQUE
- Death Benefit Installments — 5/10/15 years payout — DEALBREAKER ADVANTAGE
- High SA Rebate up to 25% for SA ≥₹1 Cr
- Special rates for women
- Special rates for confirmed non-smokers
- 3 PPT options: Single / Regular / Limited (PT-5, PT-10)
- Min Basic SA ₹25 Lakhs (low entry)
Watch out for
- DEALBREAKER NEGATIVE: ONLY OFFLINE purchase (via agent/broker — NOT online)
- Death Benefit only 7x Annualised Premium (vs industry 10-11x) — DEALBREAKER NEGATIVE
- ONLY Yearly + Half-Yearly modes (NO Monthly/Quarterly) — DEALBREAKER NEGATIVE
- Regular Premium variant: NO Surrender Value
- Higher premium than online plans (offline = higher distribution cost loaded)
- Increasing SA Option: SA escalation stops at year 16 (caps at 2x BSA)
- No flexibility — once Death Benefit Option chosen at inception, CANNOT be changed later
- Suicide payout 80% (vs Bandhan iTerm Prime 100%)
Is this the right plan for you?
Run the 30-second cover calculator. We'll tell you whether this plan, or a different one, is the better fit.
Find my right cover →We don't directly sell this plan today. If our verdict says this is your best fit, we'll point you to a broker who does — and tell you our paired listed alternative so you can decide.