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.
i want to know about the jeevan saral policy in deatils. i am interested in investment which same my income tax also and on maturity i will get the more.
Dear Sir,
If I take the Jeevan Saral Plicy (165 plan) for 20 yrs term and deposit the premium upto 11 yrs continue and take the matuarity after 20 yrs. Kindly confirm :
a) whether my insurence coverage will continue till 20 yrs .
b) whether I shall be eligible to get the loyalty benifit upto 20 yrs.while premium deposite only 11 yrs.
c) whether I shall get the interest of MSA between 11 yrs to 20 yrs.while premium deposite only 11 yrs & maturity take in 20 yrs.
Thanks
J.Das
Dear Sir,
If I take jeevan saral policy for 11 years with an anual premium of 6000/-, can I get some approx. value of loyalty adition, that I would be getting at the time of maturity. My present age is 47 years now.
Jevan saral no doubt is a better product . I am interesting to take the policy but what about loyalty.how much we can expect.
Thanks.
V.K.Mathur
Jevan saral no doubt is a better product we are having now.But what about loyalty.how much we can expect.
Request you to kindly provide me with additional details about this plan JEEVAN SARAL
Please let me know what specific details you want for Jeevan Saral Insurance plan?
Jeevan Saral is the best policy in LIC. If anyone want to buy this policy then please reply me. (Bangalore)
Dear Sir,
If I take new Janaraksha policy for 16 years with a monthly premium of 3795/-, then what can I get some approx. value of royalty addition, that I would be getting at the time of maturity? or it can be zero value of royalty addition in any case. My present age is 24 years now.
Should I go for this plan.
Thanks.
i have taken 2 policy of 500 each p.m for ten year of jeevan saral i would like to know at the end of 10,12,15,20yr how much of money i will get thanks
i am @ age of 48 can i take any insurance policies, if any can u inform me to my email id.
Yes, you are eligible to take Insurance policy.
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 41 years now.
Should I go for this plan.
Thanks.
N.K.Verma