LIC’s Jeevan Saral is a life insurance policy that offers a higher cover at a lower premium. It also provides a smooth return and liquidity fund, making it a very flexible option for those looking for life insurance.

This policy is best suited for people who:

  • Are looking for a higher cover at a lower premium
  • Want a policy with smooth returns and liquidity fund
  • Need a flexible life insurance policy

Life insurance policies should be as simple as Jeevan Saral Table No. 165. It gives you 250 times risk cover on your monthly premium.

Jeevan Saral Features  

  • Higher cover
  • Smooth return
  • Liquidity fund
  • Considerable flexibility

Special Features:
Under this plan, death cover will be the same irrespective of age at entry and term. However, the sum payable at maturity differs for different entry ages and terms. This plan is very appropriate for employees seeking life cover through Salary Saving Schemes (SSS).


==> On Death:

  • 250 times the monthly premium, plus
  • return of premiums excluding extra/rider premium and first year
  • premium plus
  • The loyalty addition, if any.

==> On Maturity:

  • Maturity sum assured, plus
  • Loyalty additions, if any.

Surrender value:
The policy can be surrendered after it has been in force for at least three full years. The surrender value will be greater than the Guaranteed Surrender Value or Special Surrender Value.

Jeevan Saral offers the following optional riders by payment of an additional premium:

  1. Accidental death and disability benefit
  2. Term Assurance benefit.

The maximum cover for the above riders will be Rs.25 lakhs under all policies of the Corporation taken together.

Auto Cover:
The plan offers Auto Cover of 12 months after the policy has been in force for a period of 3 years and more.

Flexible Term:
The policyholder can choose a maximum term but can surrender at any time without any surrender penalty or loss.

Also Read  LIC Policy Status By SMS

Partial Surrenders:
The plan will allow partial surrender from the 4th year onwards subject to certain conditions. Due to the existence of the flexible term and partial surrenders, the policyholder will enjoy a lot of liquidity under Jeevan Saral.

The loan is permissible under the policy.

Loyalty additions:
Only loyalty additions will be declared under the plan. The minimum term a policy can earn loyalty will be ten years. However, loyalty additions will also be payable if death occurs in the 10 years of the policy, provided that the policy is in force at the time of death. Loyalty additions will be subject to Corporation’s experience and may be paid in case of death, maturity, and surrenders.

Eligibility conditions:

Age at entry: Minimum 12 years completed and maximum 60 years nearest birthday.
Age at maturity: Maximum 70 years.
Term: All terms from 10-35 years.
Premium: Minimum Rs.250/- per month for entry up to 49 years and
Rs.400/- per month for entry age 50 years and above. The premium
shall be in multiple of Rs.50 per month.
Mode: Yearly/ Half-yearly/ Quarterly and Monthly under Salary Saving Scheme.

LIC Jeevan Saral is the most selling and recommended plan by LIC agents due to its simplicity and features. This is also called an ATM plan, as you can withdraw partial money from your Jeevan Saral account after completing 10 policy years.

This Plan has been Discontinued.