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14 Major Difference between LIC Jeevan Amar and LIC Tech Term Plan
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LIC Jeevan Amar or LIC Tech Term Plan: Which one should you buy?

LIC offers different plans for you and your family that will help you get security in life. If you want to buy a new LIC plan, you should compare them carefully to help accomplish goals. You should compare the plans offered by LIC before investing your money. This, in turn, gives ways to choose the right one that caters to your needs and other things. Moreover, you can select the best plan at affordable premiums that provide ways to gain more advantages.

You need to understand the differences between one insurance plan and another from different sources to get more ideas. The LIC Jeevan Amar plan is a very cheap plan that comes with various features. It is a pure term insurance plan allowing your nominee to claim amounts when you are not alive. Similarly, the LIC tech term plan is similar to the Jeevan Amar plan, which provides you with the same benefits. However, you should determine which one is best for you after doing complete research. Choosing the right type of insurance plan allows you to ensure high protection from financial crunches.

14 Major Difference between LIC Jeevan Amar vs LIC Tech Term Plan

  1. Flexibility of buying: You can buy LIC ‘s Jeevan Amar plan either online or offline, and you can even pay premiums online. But, on the other hand, you should buy LIC’s tech term plan online only. Therefore, you should know how to purchase both plans easily.
  2. Eligibility: The minimum entry for entering both the plans is 18 years, and the maximum age is 65 years.
  3. Minimum and maximum sum assured amount: The minimum sum assured amount offered by LIC’s Jeevan Amar plan is Rs. 25 lakhs, and there is no maximum sum assured amount. On the other hand, the Jeevan Tech term plan offers a minimum of Rs. 50 lakhs as sum assured amount and no maximum limit on the sum assured amount.
  4. Tenure: Both plans provide 10 to 40 years tenure options, and you can select the best one that suits your requirements.
  5. Sum Assured Flexibility: LIC’s Jeevan Amar plan and Tech term plan offer a level sum assured amount for you. That means the sum assured amount will increase from the 6th year to the 15th year.
  6. Premium Options: LIC’s Jeevan Amar plan offers single premium, regular premium, and limited premium options for you. On the other hand, the tech term plan offers premiums under the smoking and non-smoking category. If you are a smoker, then you have to pay more premium amounts that will result in high expenses.
  7. Flexibility in death benefit payment: Your nominee will receive a lump sum death benefit under both plans. Apart from that, they offer installment options of sum assured options for your family. This will help a lot to ensure a regular monthly income after your demise.
  8. Risk coverage after 65 years: Most term insurance plans offer coverage risk only up to 70 years. However, both the Amar Jeevan and tech term plans allow you to get coverage risks up to 80 years of age.
  9. Rider Option: You will get a rider option under both the plans, which are options. But, at the same time, you need to pay additional premiums to buy a rider benefit.
  10. Types: LIC’s Jeevan Amar plan is available in four types, and you can select the best one among them after doing complete research. On the other hand, the tech term plan has only one type that is the e-term plan.
  11. Rebates: LIC’s Jeevan Amar plan offers a high rebate of 4% to 20% discounts when you choose a high sum assured amount. However, you don’t get high discounts when you buy LIC’s tech term plan.
  12. Premium Rates: The premium rates of LIC’s Jeevan Amar plan are high when compared to LIC’s tech term plan, and you should check the same while buying a policy.
  13. Maturity Benefit: Both plans don’t provide any maturity benefit for you because they come with pure life protection.
  14. Premiums for Women: LIC’s Jeevan Amar plan offers low premium rates for women, whereas the tech term plan provides low premiums only for non-smokers.


How do you calculate premiums for both plans?

If you want to buy a LIC term policy, then you can calculate the premium rates with an online calculator tool. It will allow you to determine the prices approximately to help you invest money according to your choices. You can use the LIC Jeevan Amar premium calculator online after entering some important details such as age, lifestyle, occupation, sum assured, tenure, etc.

Since LIC’s tech term plan is an online plan, you should calculate the premiums with the LIC tech term plan calculator that will help you get clear ideas.

Jeevan Amar plan or Tech Term Plan: Which is the best one to buy?

LIC is a trusted brand in the markets because it has a high claim settlement ratio. Both the Jeevan Amar plan and tech term plans provide the same benefits for you. The only difference is the sum assured amount which is high in LIC’s term tech plan. If you want to buy a plan with a sum assured amount of more than 25 lakhs, you can select the term tech plan. You should compare the Jeevan Amar plan and tech term plan benefits before buying a policy from LIC. 

How to buy LIC Jeevan Amar plan and Tech term plan?

You can buy LIC’s Jeevan Amar plan from the nearest LIC branch. However, you should submit the required documents while purchasing the plan. You can purchase a term tech plan only online, and the premium rates are very low. You should consult with experts before buying a LIC term insurance online, including a tech term plan. This will help a lot to know the features and other things in detail. You should read the terms and instructions properly while buying a plan that will help meet the essential needs.

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