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,
i have 4 policies of jeevan saral of Rs. 1000 each. so i m investing 4000 Rs per month. now i want to finish my one policy. i have invested for 3 years so total paid amount is 36000 Rs. I just want to know that how much amount i wil get if i surrender this one policy after 3 years. is any thing will deduct from the total amount i have paid or i will get some extra benifits as well.
Please give me solution, i m really not getting proper answer for this problem.
thanks in anticipation.
Regards, Prashant Rathore
I WANT TO TAKE THE JEEVAN SARAL POLICY THIS MONTHS ENDS.NOW I AM 24. I TAKE THIS POLICY FOR 20 YEARS ALONG WITH ACCIDENTAL BENEFIT AND YEARLY PREMINUM IS Rs.6000/-. HOW MUCH MONEY CAN I GET AFTER 20 YEARS.PLEASE REPLY ON MY EMAIL ADDRESS. ( PLEASE FAST SEND)
I want to take jeevan saral policy for 21 years term with yearly premium of Rs.18015/-
I am 31 years old.
My agent guarantee me maturity value of Rs. 1341876/- after 21 years.
But he does not show me any details of plan or terms and conditions of plan which assures me this maturity value.
he just show me pamphlets. now plz tell me how we can trust on those pamphlets. even he says that maturity value will not be there on final policy aggreeemnet papars.
I am very confused. If LIC refuses us to pay such big amount after 20 years, then where we will go for it? we have no written proof.
plz help me in deciding what to do?
whether go for this policy or not?
Plz. give me details of this jeevan saral policy. means how they calculated this maturity value?
My e mail id is rca_chd@yahoo.com
Regards………..
My date of Birth is 08.05.1978. I take jeevan saral policy for 20 years along with accidental benefit and quarterly preminum is Rs.6125/- . What should I expect[mature value] at the end of 20 years. What is the assured amount in case of accidental death? Please reply on my email address.
I want to take jeevan saral plan but I have two doubts
1. my age is 31 years old
2. I am not salaried person. I am taking tuitions at home.
what to do?
should I go for monthly Rs. 2000 plan for 20 years or my daughter’s future?
plz. suggest.
1. You’re eligible for Jeevan Saral.
2. If you have regular monthly income then you should go for monthly or yearly plan would be better.
HI,
I want to know about ULIP plan named wealth plus.20,000 per yr,3 yr and 8 yr maturity term.How much i can expect after maturity can any agent tell truely as I don’t believe the pamphlets. and is this policy is safe regarding SEBI and IRDA controversy.Please advise.
thanks..
Sir,
I have taken a jevan saral with profit policy.6005 rs per yr premium term 15 but maturity sum assured is just 97000..could you please suggest shall I continue or stop this and invest ppf instead?
Maturity amount would be approx Rs.2.22 lakh
continue the policy…
I have started Jeevan Saral policy in the year 2009 for a half yearly premium of Rs. 9097/-. But due to some unforseen reasons, from 2010 onward I will not be able to continue this policy with the same amount of premium. If I continue this policy with a decreased amount of premium of Rs. 6000/- per year, what will be the sum assured and how much will be the maturity amount after 10, 15 and 20 years ? Please note that my date of birth is 20.01.69 and I have started this policy in the year 2009. I also want to know how much money will be deducted from my policy account ?
I am eagerly waiting for your valuable suggestion.
Thanks.
Malabika Basu
Pay alteast 3 years premium and then you can surrender your policy.,
Dear Sir,
My Age is 21Yrs if i pay Rs. 1500/-p.m. in this policy for 25Yrs what amount will i get on meturity please update me….
Death Risk would be Rs.23,22,272 and Maturity amount would be Rs. 20,66,717/-
Agents of the lic are circulating pamphlets about jeevan saral with maturity amount for example Rs2000/p.m premium holder will get Rs 2730202/- after 25 years.is it possible? if not then how much Guaranteed amt. I will get. Firstly lic is not giving loyalty bonus upto 10 years. so balance of 15 years remaining in this short time lic giving amt in lacs how it can be possible. you says at maturity we get sum 500000+ Rs.40-50 per 1000 sum ass. per yr. the maturity amr comes rs.10 lacs. and lic agent chart shows 2730202/- so much gap why ? i cnt understand what is right maturity amt.
I have opted for 2 plan jeevan saral and jeevan anand which is best one. let me know as i want to take policiy this march’10.
Awaiting reply.
Thanks (Dipesh)