LIC New Jeevan Amar Calculator (Plan 955 / 855)
Official Table No. 955 / 855 (UIN: 512N350V01 / 512N350V02). Calculate pure term life insurance premiums, compare Level vs Increasing Cover (up to 200%), Smoker vs Non-Smoker rates, and whole working life cover up to Age 80.
LIC New Jeevan Amar
Comprehensive Financial Protection for Your Family up to Age 80
Guaranteed 100% Tax-Free death benefit payable to nominee in case of demise.
Year-by-Year Coverage Progression (Ages 30 to 60)
Scrollable table| Yr | Age | Premium (₹) | Natural Death Cover | Accidental Death Cover |
|---|
Ready to Calculate LIC New Jeevan Amar?
Enter your age, smoking status, choose between Level vs Increasing cover, select your desired Sum Assured, and click Calculate to view term premium quotes.
- Pure risk term life insurance with ₹1 Cr to ₹10 Cr+ coverage
- Level Sum Assured or Increasing Sum Assured (up to 200%)
- Preferential discounts for Non-Smokers & Women
- Flexible payment: Regular, Limited (PT-5, PT-10), Single
- 100% Tax-Free death benefit under Section 10(10D)
Complete Guide to LIC New Jeevan Amar (Plan 955 / 855)
LIC New Jeevan Amar (Table No. 955 / 855, UIN: 512N350V01 / 512N350V02) is the flagship non-linked, non-participating, individual pure risk term life insurance plan offered offline by the Life Insurance Corporation of India. Designed specifically to provide high-value financial security to breadwinners, business owners, professionals, and home loan borrowers, Plan 955 ensures that your dependent family members are completely shielded against the financial shock of an unexpected demise.
As living expenses, educational aspirations, and household liabilities (home loans, car loans, business debts) multiply, securing a high-value pure term life insurance policy is the foundational cornerstone of any robust financial plan. With LIC New Jeevan Amar, you can secure ₹1 Crore to ₹10 Crores or more in life cover for a modest annual premium—often equivalent to less than a daily cup of coffee—backed by the unassailable sovereign guarantee of the Government of India and LIC’s industry-leading claim settlement ratio of over 98.5%.
Key Plan Parameters & Eligibility Boundaries for Plan 955
LIC Plan 955 operates under flexible underwriting guidelines designed to cover working adults across all career stages:
| Parameter | Official Rule / Specification (Plan 955) | Strategic Significance & Practical Notes |
|---|---|---|
| Plan Nature | Non-Linked, Non-Participating Pure Risk Term Plan | Pure mortality protection plan with zero maturity value on survival |
| Minimum Entry Age | 18 Years (Last Birthday) | Can be purchased as soon as an individual achieves adulthood |
| Maximum Entry Age | 65 Years (Last Birthday) | Allows senior working professionals and business owners to secure term protection |
| Maximum Maturity Age | 80 Years (Last Birthday) | Provides coverage throughout the entire working and early retirement life |
| Policy Term (PT) | 10 Years to 40 Years | Subject to maximum age at maturity not exceeding 80 years |
| Premium Paying Terms (PPT) | Regular Pay, Limited Pay (PT-5, PT-10), Single Pay | Limited pay frees policyholders from paying premiums after retirement |
| Minimum Basic Sum Assured | ₹25,00,000 (25 Lakhs) | Multiples of ₹1 Lakh up to ₹40L; multiples of ₹10 Lakhs above ₹40L |
| Maximum Basic Sum Assured | No Upper Limit | Subject to financial underwriting and annual income verification |
| Cover Type Options | Option I (Level SA) | Option II (Increasing SA) | Increasing SA expands by 10%/year from Year 6 to 15 to double (200%) |
| Underwriting Categories | Non-Smoker vs Smoker & Male vs Female | Preferential discounted rates for verified healthy non-smokers and women |
| Riders Available | LIC's Accident Benefit Rider | Additional rider payout on accidental death (up to ₹1 Crore max) |
| Death Benefit Payout Mode | Lump Sum OR 5-Year Installments | Nominee can receive claim in monthly/yearly regular income installments |
Comprehensive Analysis: Option I (Level SA) vs Option II (Increasing SA)
A core feature of LIC New Jeevan Amar is the freedom to choose how your life insurance coverage evolves over your lifetime:
Option I: Level Sum Assured (Constant Life Cover)
Under Option I, the Sum Assured on Death remains constant throughout the entire policy term, equal to the Basic Sum Assured chosen at proposal.
- How It Works: If you buy a ₹1 Crore policy for a 30-year term, your family is protected for exactly ₹1 Crore whether demise occurs in Year 2, Year 15, or Year 29.
- Ideal For: Individuals with fixed, predictable liabilities (e.g. A fixed-rate home loan or basic family income replacement) seeking the most cost-effective premium rate.
Option II: Increasing Sum Assured (Inflation-Beating Cover up to 200%)
Under Option II, the death benefit starts at the Basic Sum Assured and increases automatically over time to counteract inflation, rising lifestyle expenses, and growing family responsibilities without requiring any fresh medical tests:
- Years 1 to 5: Death benefit remains equal to the Basic Sum Assured (100% SA).
- Years 6 to 15 (10-Year Expansion Window): Death benefit increases by 10% of Basic Sum Assured every year.
- Year 16 onwards: Death benefit reaches 200% (2 times Basic Sum Assured) and remains capped at this doubled cover for the remainder of the policy term.
- Example: If you buy a ₹1 Crore Basic SA policy under Option II, your life cover remains ₹1 Crore for Years 1–5. In Year 6 it becomes ₹1.10 Cr, in Year 7 ₹1.20 Cr, and by Year 15 it reaches ₹2.00 Crores, remaining at ₹2 Crores until the end of your term!
🛡️ Option I: Level Sum Assured
Fixed, budget-friendly coverage. Provides constant financial protection for stable liabilities and straightforward family protection needs.
📈 Option II: Increasing Cover (2x)
Doubles your cover automatically between years 6 and 15 without fresh medicals, shielding your family against inflation and rising lifestyle costs.
🚭 Non-Smoker Discount Slabs
Healthy non-smokers who test negative for cotinine receive substantially discounted tabular rates, saving up to 25–35% on premiums.
👩 Concessional Rates for Women
Female lives enjoy discounted premium tables across all age groups, recognizing higher statistical longevity and lower mortality risks.
Premium Payment Options: Regular Pay vs Limited Pay vs Single Pay
LIC Plan 955 offers four distinct premium payment structures to accommodate varied cashflow preferences:
| Payment Option | Premium Paying Term (PPT) | Eligible Policy Term | Strategic Advantage |
|---|---|---|---|
| Regular Premium | Equal to Policy Term (PT) | 10 to 40 Years | Lowest annual cash outflow; pay as you go throughout coverage tenure. |
| Limited Pay (PT - 5 Yrs) | 5 Years shorter than Policy Term | 10 to 40 Years | Finish paying premiums 5 years before policy expiry; ideal for early retirement. |
| Limited Pay (PT - 10 Yrs) | 10 Years shorter than Policy Term | 15 to 40 Years | Concentrate premium payments during peak earning years; zero payments in later years. |
| Single Premium | 1-Time Lump Sum Payment | 10 to 40 Years | Pay once and enjoy decades of life protection without recurring premium reminders. |
Non-Smoker Underwriting & High Sum Assured Rebates
LIC encourages healthy lifestyles by offering discounted rates for non-smokers, verified through a routine Urine Cotinine medical examination:
| Basic Sum Assured Slab | Regular / Limited Pay Rebate (per ₹1,000 SA) | Single Premium Rebate (per ₹1,000 SA) |
|---|---|---|
| ₹25,00,000 to ₹49,00,000 | Nil (₹0.00) | Nil (₹0.00) |
| ₹50,00,000 to ₹99,00,000 | ₹0.15 to ₹0.25 per ₹1k SA | ₹0.50 to ₹0.75 per ₹1k SA |
| ₹1,00,00,000 to ₹1,99,00,000 | ₹0.25 to ₹0.40 per ₹1k SA | ₹0.90 to ₹1.25 per ₹1k SA |
| ₹2,00,00,000 and Above | ₹0.35 to ₹0.55 per ₹1k SA | ₹1.25 to ₹1.50 per ₹1k SA |
Comprehensive Comparison: Plan 955 (Jeevan Amar) vs Plan 854 (Tech Term) vs Private Term Insurers
To help you make an informed decision, examine this multi-dimensional term insurance comparison:
| Feature / Metric | LIC New Jeevan Amar (Plan 955) | LIC Tech Term (Plan 854) | Private Term Insurers |
|---|---|---|---|
| Purchase Channel | Offline / Licensed Advisor Assisted | Online Portal Only (Direct) | Online / Broker Portals |
| Advisor Guidance & Claim Support | Dedicated Personal LIC Advisor | Self-service / Call center | Call center / Third-party brokers |
| Sovereign Guarantee | Yes (Section 37, LIC Act 1956) | Yes (Section 37, LIC Act 1956) | No (Private corporate backing) |
| Increasing SA Option | Yes (Up to 200% Basic SA) | Yes (Up to 200% Basic SA) | Varies (Usually 50% to 100% extra) |
| Maximum Cover Age | 80 Years | 80 Years | 85 Years / Whole Life |
| Claim Settlement Ratio | 98.5%+ (Government Backed) | 98.5%+ (Government Backed) | 97% - 99% |
| Tax Exemption | 100% Tax-Free u/s 10(10D) | 100% Tax-Free u/s 10(10D) | 100% Tax-Free u/s 10(10D) |
In-Depth Case Study: 30-Year Financial Protection for a 30-Year-Old
Case Profile: Rohan (Age 30), Non-Smoker Male, IT Project Manager
- Basic Sum Assured: ₹1,00,00,000 (1 Crore)
- Chosen Cover Type: Option I (Level Sum Assured)
- Policy Term & PPT: 30 Years Regular Pay (Covered till Age 60)
- Non-Smoker Preferred Rate: Applied
- Estimated Annual Premium: ~₹14,514/year (incl. 18% GST)
- Monthly Equivalent Outflow: ~₹1,210/month (~₹40/day)
- Total Premiums Paid across 30 Years: ~₹4,35,420
Family Financial Security Outcome:
- Complete Protection Corridor: For a total lifetime investment of ₹4.35 Lakhs, Rohan guarantees that if he passes away at any time before age 60, his wife and children will immediately receive ₹1,00,00,000 (1 Crore) 100% tax-free.
- Liability Settlement: The ₹1 Crore payout can wipe out outstanding home loans, fund children’s university education, and provide a recurring living expense fund.
- Tax Savings: Rohan saves up to ₹4,500/year under Section 80C, reducing his effective cost of insurance even further.
Tax Benefits Under Section 80C and Section 10(10D)
LIC New Jeevan Amar offers clear, unencumbered tax advantages under Indian tax laws:
- Section 80C Deduction: Premiums paid qualify for deduction up to ₹1,50,000 per financial year under Section 80C (under the Old Tax Regime), provided the annual premium does not exceed 10% of the actual capital Sum Assured (which is easily satisfied since term premiums are ~0.15% of Sum Assured).
- Section 10(10D) Full Exemption: 100% of the death benefit claim settlement received by the nominee is completely exempt from income tax without any monetary ceiling.
- Zero TDS: No Tax Deducted at Source (TDS) applies to death claim payouts.
100% Digital Onboarding with Authorized LIC Advisor
Securing your family’s future with LIC New Jeevan Amar (Plan 955 / 855) can be completed online within minutes:
- Run Your Quotation: Use the calculator above to select your age, sum assured, term, and smoking status.
- Connect with Licensed LIC Advisor: Contact licensed LIC Agent Code `LIC10031212` (Lalkuan Branch, Uttarakhand) directly via WhatsApp at `+91 8419943250`.
- Digital Document Submission: Submit PAN card, Aadhaar card, income proofs (ITR / Form 16 / Salary slips), and bank details digitally.
- Seamless Medical Scheduling: Home-visit or partner clinic medical test (tele-medical / urine cotinine / blood tests) arranged at your convenience.
- Direct Online Payment: Pay the premium directly to LIC of India through UPI, Net Banking, or Debit Card.
- Digital Policy Issuance: Receive your official e-Policy Bond directly in your email and DigiLocker within 24 to 48 hours of underwriting approval.