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.
Hello,
I have taken Jeevan Saral policy of Rs. 1000 (paid 12010 for yearly premium) per month for 16 years. I have recieved S-A of 250000 on lic slip.
Please let me know if this is correct?
Also, please let me know what would be the total maturity amount to get after 16 years?
Thanks in advance.
Ajay
Yes, that is correct amount. Your SA will be x250 of your monthly premium. You are paying Rs.1000 per month in this case.
Maturity depends on your age and term.
Where we can find all explanations on aforsaid querries regarding the Jeevan saral saving scheme
Please send detail about Wealth plus scheme
You can read LIC Wealth Plus information here: https://mypaisa.in/lic-wealth-plus/ or just use Search option on top left.
I want to have a Jeevan saral policy of Rs. 3300 premium per month for 11 yrs term. please tell me how much amount i will get at maturity (after 11 yrs) and also i just to cofirm that what is loyalty addition i will get. Please inform as early as possible.
Thanks
Dear Sir,
If I take Jeevan saral for 10 years for yearly premium of Rs.15000/- How much I get after maturity.
i have taken 1 policy of 510 each p.m. for 20 years of jeevan saral i would like to know at the end of 05,10,15,20 year & after maturity how much of money i will get thanks this policy available for 20 years so, pls. tell me abt. this as soon as possible throught my mail id ( murbadekiran9@gmail.com ) kiran murbade.
I want a jeevan ssaral policy of 60000/- per year for 30 years , I want to know the amout which i will get at the end of 30 years.
Dear sir
i m too a lic agent. i got to know that if we pay yearly 100000 in jeevan saral policy for 20 years then after 20 years i will get 8000000 back. thich i got to know from others and when i calculated it doesnot seem to that. They say that this amount is confirmed amount to get.
So, please tell me abt this as soon as possible through my email id
please sir,
sir
i want to know about jeevan saral and jeevan anurag policy . what is annual premium about rs.200000/- sum and what is benefit of my son and wife.
thanks
binod
details abought partial surender after 10 years?