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.
hi
i want to invest jeevan saral policy can you please tell me my following questions
my age is 24 whats minimum periods i have to invest
I have Jeevan saral policy of 4000 per month. What will be my maturity and loyality benefit after 5, 10 years.
I have taken Jeevan saral policy for 4000 per month. What will be my maturity and loyality benifit after 5, 10 15 years.
i am 25 yrs old and hv policy LIC jeevan saral of premium 36000 per year for 20 years. how much i will get after 20 years from it ?
i take lic jeevan saral policy 3 years before. when did i am liable to retrun the policy.
i am 43 yrs hav taken a jeevan saral plan for 25 years & am paying a total installment premium of 36030 Rs(cheque) yearly for the passed 4 yrs, i got it done through an agent but he didnt give me any LIC recipt till now + we hav to keep on calling him to come & collect the cheque every time, is there a problem Pls let me know
Do you have Policy bond papers? Check your policy status first.
Warm Regards.,
I am 32, plan to invest 45000/- p.a, need to cover life, future requirements, guide me to disburse the above amount in way to cover – life with 50 lacs in case of death and on maturity around 1 cr. waiting for reply.
Get a Term insurance + ULIP or Jeevan Saral.
Hello sir,
My age is 28. I want to buy jeevan saral for 20 years . premium amount 48000. I want to know the approx maturity amount?
Sir,
I am 57 year old,working at Federal bank and have 3 more year to retair.I am health but with some pressure and sugar which are controllable.Now i want to take a Jeevan Saral Policy and i suppose to pay a monthly premium of Rs.5000.am i eligible for this?will i get the policy amount if i die on my 75 age old this is because the maturity period is 70 ,so can cover my death cover after 70’s.
Pls answer for this.This is an urgent thing and see this quat as genuine.
Regards
Jayesh from Mumbai
Yes, you can get Jeevan Saral but insurance will cover till the maturity date. Or you can get Jeevan Anand less return but will give you what you want. Let me know, if you need further help.
HI MY NAME IS AFSAR IWANT TO DETAIL JEEVAN SARAL