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).
Benefits:
==> 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.
Options:
Jeevan Saral offers the following optional riders by payment of an additional premium:
- Accidental death and disability benefit
- 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.
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.
Loan:
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.
Dear Sir,
My age is now 24yrs. If I pay 5000 /month in Jeevan Saral Policy for three years after that what the ammount I will get. Please concern me as soon as posible.
And it will be very fruitful if you send the calculation procedure on my mail. Please reply me soon.
Regards,
Sekhar
sir im lookin forward to invest rs 20000 pm, lock in period of upto 25 years, my age 23, lookin for a good plan with better returns so plz suggest…….
My date of Birth is 03.03.1998. I want to take jeevan saral policy for 20 years along with accidental benefit and please give detail about? What should I expect[mature value] at the end of 20/25/30/35 years. What is the assured amount in case of accidental death? Please reply on my email address.
My date of Birth is 13.02.1990. I want to invest 12000 yearly in Jeevan Saral policy for 25 years along with accidental benefit rider and please give me details about this. What will be the maturity value at the end of 25 years. What is the assured amount in case of accidental death? Please reply on my email address
I need a few information on this policy :
My date of birth is 21st March 1973.
I am looking for a monthly premium of maximum Rs. 8000 – Rs. 10000, which means a sum assured of Rs. 20 Lakh – Rs. 50 Lakh.
I would like know the following :
1. What all medical tests will be required for my age and sum assured ?
2. As per the information above, accidental death and disability benefit rider is available in this policy. What is the coverage available and what is the additional premium for that ?
3. Does this policy has a premium waiver in this rider ?
4. What is there in the term assurance benefit rider ? What is the additional premium to be paid ?
5. Is there a critical illness rider in this policy ? What is the coverage and additional premium ?
6. People say that there is assured return of 8% in this policy. Is it true ? On what basis this is said ?
my age 24 years to pay yearly 25000/= which policy is the best to get best returns only
IF IN JEEVAN SARAL POLICY MY MONTHLY PREMIUM IS RS.250/- WHAT IS THE RETURNS AFTER 10 YRS
my saral policy-165/35 premium yearly-24000 rs.
started-12/8/2008
my age at starting of policy-26 yrs.
please tell me-
1)what amount after completing 10 year i get?
2)after 3 year if i surrender full policy what value return i get?any deduction on 3 yr premium. 3)if i partial surrender 14000 rs. premium after 3 yr then how much amount will i get return or any penalty or deduction from that receivable amoount? please tell & help me. also will that affect my loyalty after partial surrender or death benefit or disability benefit .
sir i want to know more about LIC policies and want to get best beifits of it.I have gone through the details of jeevan saral,how much i should invest to get the best.kindly help me or suggest the best.
regards
ankur sharma
sir,
i want to invest rs.500 p.m. in lic jeevan saral scheme. how much amount i can deduct from tax? how much total amount i will receive at the end of 10 years?
pls reply….