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 what is the difference between Bonus and loyalty additions as the plan Jeevan Saral ofLIC has only loyalty additions and no bonus. If I take this plan with Rs 1000 per month, what will be the maturity value
Hello
I have take Jeevan Saral plan 165 in Jan 2011 for a term of 20 years for a yearly premium of 19216. My dob is 04-09-1977.Could you tell me how much amount I would recieve after 20 years ? Please revert me on my email as soon as possible.
I want to know what is the difference between Bonus and loyalty additions as the plan Jeevan Saral of LIC has only loyalty additions and no bonus. If I take this plan with Rs 1000 per month, what will be the maturity value and what will be the loyalty additions?
sir,i want to surrender my jeevan anand lic policy which i started in march 2008 of 1 lakh with a quarterly payment of 1415rs for 20yrs. Can i know the exact amount i will get for surrendering this policy ? policy no:70287538
sir , main apne child k liye jeevan chaya policy lena chahta hu 21 year tak k liye meri age 26 hai or main 12000 yearly de sakta hu . mujhe 21 year baad kitne milega . please reply karna . thanks
I am 39. Is jeevan saral suitable for me? what is be the interest if my premium is 2000 per month?
Dear Sir,
I take Jeevan saral(with profits) policy with a annually premium of 6005/-, if I want to surrendered 11 months past.How much I can get sir?
I am already taken one Jeevan saral ( with profits) policy. Qtrly premium is 4500.25 + 93.75 = 4594. This policy duration is 25 years. Now I am in 42 years old. Please advice me to any rider policy to attaching provision in this policy. What is the benefit of this policy. Approximate maturity value ? In case death happen after 10 years what is the benefit of my family ?
Riders can not be attached now… but this is one of the best selling lic policy. Your nominee will get the sum assured in case of death during the policy term.
i have taken a jeevan saral policy of 1000/month. the maturity s.a is not matching with the amount given in the brochure and in the lic website & the amount given in the policy paper.can some body explain why it is not matching and how much i will get after 15 years???????
i wanted to take the LIC JEEVAN SARAL 36000 per year what will be the amount i will get after 10,15,20 years plz reply soon.is JEEVAN SARAL IS GOOD OR JEEVAN GOLD OR JEEVAN ANAND PLZ REPLY