LIC New Jeevan Amar Calculator
Calculate annual premium for LIC New Jeevan Amar (Plan 955, UIN: 512N350V01) — LIC's offline pure term plan. Level or Increasing cover, Regular or Limited Pay. Non-smoker, smoker and female rates. High SA rebate up to 25%. GST Rs 0.
Jeevan Amar does one job: if you die during the policy term, your nominee gets the full sum assured. No agent will try to sell you savings. No bonus expectations to manage. No maturity amount to plan around. Just clean, honest life cover at the price LIC charges for it through their offline channel.
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Premium Breakdown
Male Non-SmokerFull Policy Summary
Plan 955 · UIN 512N350V01Your LIC New Jeevan Amar Policy at a Glance
Year-wise Premium and Cover Schedule
Regular Pay| Year | Age | Premium Due | Cumul. Premium | Death Cover (Level) | Death Cover (Increasing) |
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LIC New Jeevan Amar Plan 955 — The Complete Guide
There are two questions most people ask when buying life insurance. The first is "how much should I cover my family for?" The second is "which plan should I buy?" LIC New Jeevan Amar answers the second question for a specific segment: people who want LIC's brand, trust, and claim settlement record for a pure term plan, and who prefer to deal with an agent rather than buying directly online.
If that sounds like you, this is the plan. If you are comfortable buying insurance on licindia.in yourself, the online equivalent — LIC New Tech-Term (Plan 954) — will cost you less for identical cover. This guide helps you understand what Jeevan Amar provides, what it does not, and whether the offline premium is worth it for your situation.
What Makes Jeevan Amar Different from Other LIC Plans
- It is pure protection: Every rupee of premium goes toward covering your family, not into a savings or investment component. No maturity benefit, no bonus, no return of premium at the end of the term
- It is offline only: You cannot buy it on LIC's website. You need an agent, corporate agent, or broker. This means there is an agent commission built into the premium
- Minimum sum assured is Rs 25 lakh: This plan is not designed for small covers. It is for people who need meaningful protection — Rs 50 lakh to Rs 2 crore range is the typical use case
- Large cover gets cheaper: The High Sum Assured Rebate gives back up to 25% of your tabular premium if your cover is Rs 1 crore or more and you are below 30
Level vs Increasing Sum Assured — Making the Right Choice
This is the most important decision you make at policy inception, and it cannot be changed later.
- Level Sum Assured (Option I): Your cover stays at the Basic Sum Assured for the entire policy term. Simpler, cheaper premium. Works well for shorter policy terms (10 to 15 years) where inflation has less time to erode the real value of your cover
- Increasing Sum Assured (Option II): Cover stays flat for the first 5 years, then increases by 10% of the original BSA every year from Year 6 to Year 15, eventually doubling. Stays at 2x BSA from Year 15 onwards. Costs more annually but provides meaningful inflation protection over a 20 to 30-year policy term
A practical rule: if your policy term is under 15 years, Level SA is usually adequate. If your term is 20 years or more, the Increasing SA option is worth the extra premium because a Rs 1 crore cover today becomes effectively worth Rs 50 to 60 lakh in real terms after 25 years of inflation.
Who Should Buy LIC New Jeevan Amar
- People who have existing relationships with LIC agents and prefer managed, guided insurance purchases
- Buyers in locations where internet connectivity or comfort with online transactions is limited
- People who want LIC's claim settlement record specifically, and need a pure term plan without any investment component
- High-net-worth individuals who need very large covers (Rs 2 crore to Rs 10 crore) and benefit most from the High SA Rebate
- Non-smokers — the Non-Smoker cotinine test discount is significant and worth going through
Who Should Consider LIC New Tech-Term Instead
- Anyone comfortable buying insurance directly on licindia.in — Tech-Term gives identical cover at a lower premium
- People in urban areas with good internet access and familiarity with online financial transactions
- Buyers who have already researched the plan and do not need agent guidance
Premium Payment Options — What to Choose
- Regular Pay: Lowest annual premium. You pay throughout the policy term. Best for salaried employees with stable, predictable income
- Limited Pay (Term minus 5): You stop paying 5 years before the policy ends. Higher annual premium during the paying years but policy stays active. Good for people who plan to retire or reduce income before the policy term ends
- Limited Pay (Term minus 10): Highest annual premium but shortest payment commitment. Useful for business owners with high current income who expect income variability later
- Single Pay: One lump sum, covered for the full term. No risk of lapsing. Best for those with a windfall or surplus to deploy immediately
The Non-Smoker Test — It Is Worth Doing
The difference between Non-Smoker and Smoker rates in pure term plans is not marginal. At age 40 for a 20-year policy, the smoker premium can be 30% to 50% higher than the non-smoker rate. If you have not smoked for at least 12 months, you will almost certainly pass the Urinary Cotinine test. The test is done at LIC's expense during underwriting. On a Rs 1 crore policy for 25 years, this qualification difference could save you Rs 1 to 3 lakh over the policy term. It is worth the effort.
Tax Treatment
- Premium paid: Eligible for Section 80C deduction up to Rs 1.5 lakh per year under the old tax regime
- Death benefit: Fully tax-free in the hands of the nominee under Section 10(10D) regardless of premium amount
- GST: Rs 0 since September 22, 2025 — the premium shown in this calculator is the final amount payable
Frequently Asked Questions
What is LIC New Jeevan Amar Plan 955?
LIC New Jeevan Amar (Plan 955, UIN 512N350V01) is an offline pure term insurance plan. It pays the sum assured to your nominee if you die during the policy term. There is no maturity benefit, no loan facility, and no paid-up value under Regular Pay. It is available only through LIC agents, corporate agents, brokers and insurance marketing firms — not online. Minimum sum assured is Rs 25 lakh with no upper limit.
What is the difference between LIC New Jeevan Amar and LIC New Tech-Term?
Both plans are pure term insurance with Level and Increasing Sum Assured options, but they differ in distribution channel and pricing. New Jeevan Amar (Plan 955) is sold offline through agents and costs more due to agent commission. New Tech-Term (Plan 954) is sold exclusively online through licindia.in and is priced lower because there is no intermediary commission. If you are comfortable buying insurance online directly from LIC, Tech-Term is typically cheaper. If you prefer agent guidance and offline documentation, Jeevan Amar is the appropriate plan.
What is the difference between Level and Increasing Sum Assured in Jeevan Amar?
Level Sum Assured keeps your death cover fixed at the Basic Sum Assured throughout the entire policy term. Increasing Sum Assured keeps the cover flat for the first five years, then increases by 10% of the Basic Sum Assured each year from Year 6 to Year 15, reaching double the Basic Sum Assured by Year 15. From Year 16 onwards the cover stays at 2x BSA permanently. Increasing cover costs more in annual premium but combats inflation eroding the real value of your family's payout over a long policy term.
Do non-smokers get lower premiums in LIC New Jeevan Amar?
Yes. Jeevan Amar has two rate categories: Non-Smoker and Smoker. Non-smoker status is verified through a Urinary Cotinine test administered during underwriting. Non-smokers pay significantly lower premiums. Women also get special lower rates reflecting actuarial longevity differences. If you declare non-smoker status but test positive for cotinine, LIC may revise or void the policy. This calculator shows illustrative Non-Smoker male rates; actual rates depend on underwriting.
What are the premium payment options in LIC New Jeevan Amar?
Four options are available. Regular Pay means you pay premiums for the entire policy term. Limited Pay Term minus 5 means you pay for 5 years fewer than the policy term, available for terms of 10 to 40 years. Limited Pay Term minus 10 means you pay for 10 years fewer, available for terms of 15 to 40 years. Single Pay means one lump sum at inception. Premiums can only be paid yearly or half-yearly — quarterly and monthly modes are not available for this plan.
What is the High Sum Assured Rebate in Jeevan Amar?
The High Sum Assured Rebate reduces your premium as a percentage of the tabular premium for larger cover amounts. For Level SA, the rebate is 13% for cover Rs 50 lakh to below Rs 1 crore and 25% for Rs 1 crore and above for buyers aged up to 30. For ages 31 to 50 the rebate is 11% and 21% respectively. For ages 51 and above it is 6% and 11%. Increasing SA attracts slightly lower rebate percentages. Below Rs 50 lakh there is no High SA Rebate.
Is there any maturity benefit or surrender value in LIC New Jeevan Amar?
No maturity benefit is payable under any circumstance — this is a pure term plan. For Regular Pay policies, there is no surrender value. For Single Pay and Limited Pay policies, an Unexpired Risk Premium Value may be refunded if the policy is surrendered after the specified minimum period. No loan facility is available under this plan. If you are looking for a plan that returns money at maturity, consider an endowment plan instead.
What is the minimum sum assured in LIC New Jeevan Amar?
The minimum Basic Sum Assured is Rs 25,00,000 (Rs 25 lakh). There is no upper limit, subject to LIC's underwriting decision. For BSA between Rs 25 lakh and Rs 40 lakh, multiples of Rs 1 lakh are allowed. Above Rs 40 lakh, BSA must be in multiples of Rs 10 lakh. The minimum sum assured is significantly higher than in most other LIC plans, reflecting the target audience of serious protection buyers rather than small savings policies.
Can I add riders to LIC New Jeevan Amar?
Only one rider is available: LIC's Accident Benefit Rider (UIN 512B203V03), and only under Regular Pay and Limited Pay modes. The rider is not available on Single Pay policies. The rider provides an additional lump sum on accidental death, equal to the rider sum assured. The rider premium cannot exceed 30% of the base plan premium, and the rider sum assured cannot exceed 3 times the Basic Sum Assured. The rider cover applies only during the premium paying term or until the life assured turns 70, whichever is earlier.
Is GST applicable on LIC New Jeevan Amar premiums in 2026?
No. The 56th GST Council meeting effective September 22, 2025 exempted all individual life insurance premiums from GST. The premium shown in this calculator is the final amount payable with nothing added on top. Before September 2025, GST of 4.5% applied in Year 1 and 2.25% from Year 2 onwards for Regular and Limited Pay policies, and 1.8% on Single Pay.