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Offline term plan via agents — level or increasing SA.
LIC New Jeevan Amar (Plan 955) is LIC's offline pure-term plan — the agent-channel equivalent of the online Digi Term and New Tech-Term plans. Entry ages 18–65, minimum SA ₹25 lakh, policy terms 10–40 years, regular and limited pay modes. It offers level or increasing sum assured (increasing variant grows at 10% simple per year). The key reason to choose this over the online plans is either that you prefer agent assistance, or that you are buying through an existing LIC relationship where the agent provides genuine advisory value.
Agent channel only. Increasing SA: 10% simple per year.
Death of the life assured for any cause during the policy term. Level SA: full SA paid as lump sum. Increasing SA: SA grows at 10% simple per year — nominee receives the grown SA at time of death, up to the cap specified in the brochure. The agent-channel purchase means the proposal is underwritten with the agent's assistance, which can be useful for accurately declaring health conditions.
Suicide within the first 12 months. Lapse — if premiums stop, cover terminates after the grace period. Non-disclosure of pre-existing conditions, smoking, or hazardous occupation — agent-guided proposals are actually more reliable here because a good agent will flag all required disclosures. No disability or critical illness payout without the respective riders.
New Jeevan Amar competes primarily with agent-channel private term plans (LIC agents sometimes also distribute other insurers' products, but typically lead with LIC). In the offline channel, LIC's pricing and claim settlement credentials give it a strong case. The honest comparison is against the same plan bought online: Digi Term at roughly 25% lower premium for the same cover. If you are buying New Jeevan Amar without a specific need for offline access, you are paying an implicit 25% advisor fee.
New Jeevan Amar makes sense for four groups. First: buyers in semi-urban or rural areas where the LIC branch is the most accessible financial institution and agent relationships are trusted. Second: buyers with health complications (diabetes, hypertension, pre-existing conditions) where guided proposal submission reduces the risk of a future claim dispute. Third: buyers who prefer the psychological comfort of face-to-face advice and are willing to pay for it explicitly. Fourth: buyers needing minimum SA below ₹50L — the ₹25L minimum is lower than online options and may suit a first-time buyer with a small immediate need. Do not choose this plan if you are digitally capable and your nominee can handle an online claim process.
Premiums deductible under §80C (up to ₹1.5L/year) subject to the 10× SA condition. Death benefit tax-free under §10(10D). Agent-collected premiums qualify identically to online premiums for tax purposes — the channel does not affect deductibility. Limited-pay premiums paid in the paying years are each fully deductible in the year of payment.
LIC does have an online premium calculator — it's their Quick Quote tool on the eBiz portal. Enter your name, date of birth, gender, and mobile number, then pick this plan on the next screen to see the actual premium for your profile.
Open LIC's Quick Quote tool ↗Or browse the official plan page ↗ for brochures and policy documents.
Asymmetrica isn't an insurance advisor. The analysis above is editorial, sourced from published LIC brochures. Verify eligibility, current rates, and plan-specific conditions with LIC or a licensed advisor before purchasing.
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