Lic Jeevan Amrit

W.e.f. 28-05-2007

General Conditions:
  1. Min. age at entry:  12 year (lbd).
  2. Max. age at entry:  6 years (nbd).
  3. Min. S.A.: Rs. 1 lakh.
  4. Max. SA.: Any amount.
  5. Max. Maturity age: 70 years (nbd).
  6. Modes Allowed: Yly/Hly
  7. Min Term: 10 years.
  8. Max Term: 30 years.
  9. Modes Rebate: Yly 2%; Hly- Nil
  10. Premium paying term: 3/4/5 years.
Requirements in writing:
  1. Female lives category: I/II/III
  2. Non-Medical General :  Allowed
  3. Non-Medical Professional:  Allowed
  4. Non-Medical Special:  Allowed
  5. Risk Coverage:  Basic SA + Bonus + FAB if any
  6. Age proof: Std./NSAP-1/2/3
  7. Form Number:  300/340
  8. Dating Back** @ 8%: Allowed
  9. Actual Sum assured: Basic SA.
Policy Servicing:
  1. Policy Loan @ 9%: Yes.
  2. Revival: Yes.
  3. Surrender of Policy: Yes.
  4. Housing Loan: Yes.
  5. Assignment: Yes.
  6. Grace Period: Yes
  7. CIR/TRB : No.
  8. Nomination : Yes

** Even prior to introduction of the plan within same financial year policy can be dated back.

This plan is designed to meet the needs of persons having high earning for short span, wherein the income may decrease or stop thereafter. During the period of high income, the premium paying capacity of such persons is quite high. The premium will be high during first year and thereafter premium comes down significantly i.e. to the extent of half or 1/3rd or 1/4of the first year premium. One can choose the policy term from 10 to 30 years where the payment of the premium is limited to 3 or 4 or 5 years. During PPT, the premium payable in subsequent years is higher than the premium payable during the first year.

Excluding extra premium and not on the SA the Simple Reversionary Bonus will be paid on the amount of premiums paid. Whether fully or partially paid-up, the policy will participate in profits. This is the special feature of this plan.


Maturity Benefits:  Along with vested reversionary Bonus & FAB if any, will be paid back in case of Life Assured surviving to the end of the term, total amount of premiums(excluding extra premium if any) paid during the term of the policy.

Death Benefits:  During the term of the policy, SA + vested simple reversionary bonuses + Final Additional Bonus, if any is payable in lump sum immediately on the death of the life assured.

Cooling Off Period: If not satisfied with the Terms & conditions of the policy, policy can be returned within 15 days.

Surrender values (GSV, SSV):

If any subsequent premium be not duly paid after atleast one full year’s premiums have been paid in respect of this policy, in the event of death of the LA within 6 months from the due date of first unpaid premium, the benefits will be paid as if the policy had remained in  full force after deduction of premium/s unpaid with interest thereon until date of death, and the unpaid premiums falling due before the next policy anniversary.

After completion of at least one policy year provided premiums for one full year have been paid the Gtd. SV shall be available. The GSV is equal to 30% of the total amount of premiums paid excluding extra premiums, if any. The cash value of any existing vested bonuses, if any, will also be paid.  In the case of limited payment Endowment Plan, special SV will be calculated  using the surrender value factors as applicable.

Ready premiums for terms 10, 15, 20, 25 & 30 only are given. However, the terms are available from 10 to 30 years.

Sum Assured Rebate Rebate per Rs. 1000 SA (Rs.)
PPT 3 years PPT 4 years PPT 5 years
1st year Sub. Year 1st year Sub. Year 1st year Sub. Year
Less than Rs 2 lacs Nil Nil Nil Nil Nil Nil
Rs 2 lacs & above but less than Rs. 3 lacs 7.5 3.75 7.5 2.5 7.5 1.85
Rs 3 lacs & above but less than Rs. 5 lacs 10 5 10 3.3 10 2.5
Rs 5 lacs & above but less than Rs. 10 lacs 12.5 6.25 12.5 4.15 12.5 3.1
10 lacs & above 15 7.5 15 5 15 3.75



Mr. Jack aged 30 years takes a policy for 10 lakh SA (Term: 30 year PPT :5 years).He pays a yearly premium of Rs 52571 during the 1st year & Rs 13155 during subsequent  4 years (13155 X 4 = 52620). Totally he pays Rs. 105191.

Till maturity, on his survival i.e. at his age of 60 , he will get back all the premiums paid by him i.e. Rs 105191 + bonus and FAB if any. During the term of the policy, in the event of his death, his nominee will get SA of Rs 10 lakhs + vested bonus and FAB if any.

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