The Life Insurance Corporation (LIC) of India has launched its much awaited term insurance plan Jeevan Amar, which is much cheaper than its just-withdrawn Amulya Jeevan Term Plan. Not only the new term plan is cheaper, but it is more flexible and has much wider features.
As Jeevan Amar is a term plan, it is a without profit plan and is also a non-linked plan. Which means, the plan is not market-linked and there will be no maturity value and only death claim will be payable to the nominee in case of unfortunate demise of the life assured during the policy term, provided the policy is in force.
