The Life Insurance Corporation of India (LIC) has launched a much-awaited cheaper term plan called 'Jeevan Amar' which will extend more benefits and flexibilities to its policyholders. This new term plan is not a market-linked plan that will give two options for subscriptions- Level Sum Assured and Increasing Sum Assured. The Jeevan Amar policy has an option to select between two categories: Smoker and non-smoker. This new term policy from LIC will be exclusively sold offline and can only be purchased from authorized LIC agent. LIC has also withdrawn 'Amulya Jeevan' Term and many new features have been included in this new plan.