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.
if I Invest Rs.2000/- p.m in jeevan saral-165 plan Then-
1. How Much i will get after 25 years ( let me know fixed amt.)
2. I will get loyalty bonus from starting of policy ?
3. If death by accident then how much i will get.
4. The rate of int. @ 10% shown is guaranted ? if not then how much guaranteed.
5. If we will get loyalty bonus after 10 years then how it can be beneficial for us. In other policies we get bonus starting from policy. and also govt given relief for this scheme then also lic is not giving loyalty bonus in first 10 years. Lic have to give more loyalty bonus for this instead of this lic not giving loyalty for 10years. I cant understand if we will not get loyalty bonus in 10 years how it will be beneficial to us. if you will not get bonus then off course maturity amt. will be low. compared to any other policy.
can i go for jeevan plan. I cannot take final decision for this due to non-receipt of bonus in first 10 years. give me suggestion.
Thanks
(Dipesh)
Your age: 35
SA: 5 lakh
Death Risk Rs.30,96,362 and Maturity amount would be Rs. 26,96,842/-
Agents of the lic are circulating pamphlets about jeevan saral with maturity amount for example Rs6000/p.m premium holder will get Rs 2666381/ after 15 years.is it possible? the LIC officers also promises to customers. but in the bond there no shown maturity amount. only maturity benefit available in the bond,how can they say to maturity amount in lakhs?shall we approach consumers court.? number of normal people suffering from this bad propaganda of Agents. if you will get above amount please certify that issue. .thanking you sir…
Yes, that is possible. Maturity amount also includes the bonus. Bonus is not fixed that’s why it wont come on your bond papers.
HI,
I want to know, if this policy is available all over India. Because, I stay in Hyderabad and my cousins want to purchase the Jeeven Saral Policy who stays in Bhopal.
Please reply on my EMail address.
Thank you.
Dharmender. P
Yes, all plans are available for all india.
I take jeevan saral policy for 25 years and yearly preminum is 24000. What should I expect[mature value] at the end of 25 years
What Tabrej, told in your reply is
Sum assured will be Rs. 500000 + Bonus Rs.40-50 per year per thousand sum assured.
Then what is the Value of the Total bonus amount after 25 years if I took Bonus is Rs.40 per year per thousand sum assured?
Thank you,
shankha
I am not sure about your age, but if you are 25 years old and paying 24000 premium yearly for 25 years then your maturity amount would be Rs.27,48,062/- approx.
Dear Sir,
If I take jeevan saral policy for 10 years with an anual premium of 12000/-, can I get some approx. value of royality adition, that I would be getting at the time of maturity. or it can be zero value of royality adition in any case. My present age is 26 years now.
Should I go for this plan and how much of money will i get it of maturity?
Thanks.
kavita chawla
Sum assured will be Rs. 2,50,000 and bonus is approx Rs.40-50 per thousand sum assured per year.
I take jeevan saral policy for 25 years and yearly preminum is 24000.
What should I expect[mature value] at the end of 25 years in the following cases?
1) Best condition
2) Worst condition
3) average condition
Thank you,
shankha
Sum assured will be Rs. 500000 + Bonus Rs.40-50 per year per thousand sum assured
I want to know the clear chart about the premium,age,maturity sum and other benefits
if i ninvest 70000 pa in jevan saral what i get after 10 ,15,20 yrs respectively
I m 42 yrs, how many maturity in jeevan saral 10 yrs term Rs 1021/pm?
Suppose i an investing jivan saral in one month 408 RS.In 20 year. That how many receive in after 20 year.please infome me.