Lic jeevan Amrit policy is a limited payment endowment policy which comes with bonus facilities. Under LIC’S jeevan Amrit plan policy holder has to pay premium for maximum 5 years but the cover of the plan continues till the end of the term of policy. The first year premium is bit higher than the subsequent year’s premium. If the policy holder expires the nominee will receive sum assured plus death benefits as assured bonus. But if the policy holder survives then he will receive the premium paid till date.