In short (tl;dr)
New Jeevan Amar is the agent-sold version of LIC's term cover, with a lower ₹25 lakh entry point and the same benefit structure as New Tech-Term.
About LIC New Jeevan Amar
New Jeevan Amar (Plan 955) is a non-linked, non-participating pure protection plan sold through LIC's agency network. The benefit design mirrors New Tech-Term: Level or Increasing Sum Assured, smoker and non-smoker rates, regular, limited or single premium.
The differences are commercial rather than structural. The minimum sum assured is ₹25 lakh rather than ₹50 lakh, which opens it to buyers who want less cover, and the premium is a little higher because it carries agent commission.
For most buyers the choice comes down to whether they want a person to handle the paperwork and the eventual claim. That service has a price, and this plan is where it shows up.
Key features
- Minimum sum assured ₹25 lakh — lower than New Tech-Term's ₹50 lakh
- Sold through LIC agents, with in-person help at proposal and claim
- Level or Increasing Sum Assured options
- Separate smoker and non-smoker rates; lower rates for female lives
- Regular, limited or single premium payment options
New Jeevan Amar at a glance
- Plan number
- 955
- Category
- Term Insurance
- Entry age
- 18 to 65 years
- Policy term
- 10 to 40 years
- Premium paying term
- Same as policy term
- Sum assured
- ₹25 Lakh and above
- Maximum maturity age
- 80 years
- UIN
- 512N350V02
We checked the plan number and UIN above against LIC's own page for this plan on 2026-09-02. Check it on licindia.in
Benefits under New Jeevan Amar
Death benefit
The Sum Assured on Death, paid as a lump sum — the higher of 7 times the annualised premium and the absolute amount assured, never less than 105% of premiums paid.
Maturity benefit
None. Pure protection, with no maturity value and no surrender value on regular premium policies.
Who it suits
Someone who wants LIC term cover but prefers to buy through an agent, or who needs less than the ₹50 lakh minimum that Tech-Term imposes.
What to watch out for
You pay roughly 10 to 15% more than New Tech-Term for the same cover. If you are comfortable online, that difference compounds over a 30-year term.
How this calculator works
New Jeevan Amar is priced here on its own parameters, not a generic formula. We build the plan's full cash-flow schedule — the death benefit in each policy year, every survival payout, and the maturity value — and discount it on a basis calibrated to a reference premium for this plan. That reference is checked two ways: against LIC's published tabular rate, and against the return the plan's own benefits imply for the policyholder.
- Reference premium
- ₹1.42 per ₹1,000 at age 30, 30-year term, 30-year premium term
- Discount basis
- 1.28% a year, on LIC (2012-14) Ultimate mortality scaled to 55% for this plan's underwritten pool
- GST
- Nil. Individual life insurance premiums have been exempt from GST since 22 September 2025, so the instalments shown are what you actually pay.
Bonus rates are declared annually and are not guaranteed; only the sum assured and any contractual guaranteed additions are. Read our editorial and methodology policyfor the full basis, and confirm every figure with LIC before you buy.
Check the source:New Jeevan Amar on licindia.inLIC valuation and bonus declarationsIRDAI regulations
What this premium does not include
The figure above is the premium for the base policy. LIC allows one optional rider on New Jeevan Amar, each a separate contract with its own sum assured, term and premium. Take one and you pay more than the figure above — the base premium itself does not change.
- LIC's Accident Benefit Rider (AB Rider)UIN 512B203V03
Premiums for all the life insurance riders put together cannot exceed 30% of the premium under the base plan. That cap is the useful number to hold an agent to: whatever riders are proposed, the total should stay inside it.
Why we do not price them. A rider premium follows from the rider's own sum assured and term, so it cannot be worked out from a tick-box — and LIC does not publish rider rates in the plan brochure, which tells you to read the rider brochure or ask a branch. We would rather name the riders and their UINs, which you can check, than show a number we cannot source.
Source: New Jeevan Amar sales brochure (PDF), Optional Rider Benefits clause.
LIC New Jeevan Amar — frequently asked questions
Is New Jeevan Amar more expensive than New Tech-Term?
Yes, typically by 10 to 15%, because it is sold through agents and the premium carries commission. The benefits are otherwise the same.
What is the minimum sum assured for New Jeevan Amar?
₹25,00,000, against ₹50,00,000 for the online New Tech-Term. That lower floor is the main reason to prefer it if you want a modest amount of cover.
What is the Increasing Sum Assured option?
The cover stays level for the first five policy years, then rises by 10% of the original sum assured each year from the sixth to the fifteenth, stopping at twice the original amount. It tracks a growing income and rising family responsibilities.
Can I convert New Jeevan Amar into a savings plan later?
No. Term plans cannot be converted. If your needs change you would buy a separate savings policy alongside, and keep the term cover running for the protection it provides.
Related calculators
Plans people usually weigh up against New Jeevan Amar before deciding.
New Tech-Term
No. 954LIC's online term plan — the cheapest cover it sells.
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No. 859The standard term plan every insurer must offer, with identical terms across the market.
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No. 870Term cover that returns every rupee of premium if you survive the policy.
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No. 714LIC's plainest savings-and-cover contract, and its cheapest endowment.
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