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Jeevan Saral LIC Policy

Jeevan Saral LIC Policy is a special endowment assurance plan from Life Insurance Corporation of India. In this plan, the policyholder has to only choose the amount and the mode of payment premium. The death benefit is proportional to the premium amount chosen. The maturity benefit is fixed on the basis of the age of the life assured when he entered the policy. The modes of payment of premiums for Jeevan Saral LIC Policy are yearly, six-monthly, quarterly, monthly or through salary deductions as per your choice.

The death benefit for Jeevan Saral LIC Policy is equal to the sum of 250 times the monthly premium with loyalty bonuses declared and return of premiums excluding the first and extra premium. It is given in lump sum if the life assured dies during the term of the policy. The maturity benefit in this plan is equal to the sum assured along with loyalty bonuses. Jeevan Saral LIC Policy can be surrendered only when the policy has turned 3 years old. The surrender value for this policy is equal to 30% of the paid premiums excluding the first premium and the fixed benefit which is already paid. For extra benefits, you have to pay an additional premium.

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Jeevan Saral

Jeevan Saral LIC Policy no. 165 of Life Insurance Corporation of India, is top rated insurance plan for every individual

Jeevan Saral is also called ATM plan from LIC of India and Recurring Deposit plan from Lic of India

Jeevan saral is a exceptional Lic of India’s plan having very superior features of the conventional plans and the elasticity of a unit-linked plans, but remember this is not a Unit linked plan and your money is not invested in share market. So you have minimum risk and maximum gains

It provides you:-

  • Higher cover
  • A smooth return
  • Liquidity
  • A lot of flexibility

Death cover will be same irrespective of age at entry and term but the sum to be paid at maturity will differ for different entry ages and terms. So the nominee will get 250 times X monthly premium as normal death benefit and and will get 500 times X monthly premium in case of accidental death. Lic of India also covers risk against terror attacks.

Example: - Mr. Anna Hazare takes a Jeevan saral policy with monthly premium of Rs. 4000/- than his normal death risk cover will be Rs. Rs.4000 X 250 times = 10,00,000/- and Rs. 4000 X 500 times = 20,00,000/- in case of accidental death.

This plan is more appropriate for employees particularly seeking life insurance along with Tax saving options for the current financial year. Jeevan Saral 165 is important for persons who want short term insurance around 10 years. Jeevan saral 165 is also important for students going abroad for further studies. Jeevan saral is also imp for people who wants to have a safe and secure future. Jeevan saral is also important for people who want to plan their retirement after 20,25,30,35 years. Jeevan saral is also important for NRI and Person of Indian origin as it offers lot of flexibility and good lumpsum capital on maturity

Jeevan saral from Life Insurance corporation of India (LIC) plan no. 165 Maturity Benefits  are as follows:

  1.  Maturity Benefits
    1. Maturity Sum Assured Plus
    2. Loyalty addition

2. Death Benefit:

  1. 250 times the monthly premium plus
  2. Return of premiums excluding first year and extra premiums plus
  3. Loyalty addition

3. Only term assurance plan allowed to minors.

4. Extended risk cover of 1year (similar to table no 91) if 3 full years premiums are paid.

5. Double Accident Benefit :- On death due to accident extra sum assured would be payable.

6. Permanent Disablity Benefit :- In case of disablity due to accident following would be payable.

  1. Future premiums are waived.
  2. Annuity for next 10 years = SA / 120. payable monthly.
  3. Insurance cover continues and maturity would be payable after completion of term .

7. Term Rider Benefit is available for extra risk cover on natural death. This benefit is available at extra cost.

8. Backdating of policy is allowed.

9. Policy Loan is available.

10. Policy can be surrendered after a period of 3 years.

11. The policy holder can choose a maximum term but can surrender at any time.

12. Partial surrender allowed after 3 years

13. Attractive exit options.

Contact Lic of India agent in mumbai, we cover following areas in mumbai:- Altamount Rd, Andheri, Babulnath, Bandra, Borivali, Breach Candy, Chembur, Colaba, Dadar, Dahisar, Fort Area, Grant Road, Ghatkopar, Goregaon, Juhu, Kalbadevi, Kalyan, Kurla, Malad, Mulund, Mumbai Central, Nariman Point, Navi Mumbai, Lower Parel, Opera House, Powai, Tardeo, Thane, Worli.

Call: +91. 09820934872

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