SARAL JEEVAN BIMA PLAN
LIC’s Saral Jeevan Bima Plan (Plan No. 859) is a Non-Linked, Non-Participating, Individual, Pure Risk Life Insurance plan which provides financial protection to the insured’s family in case of his/her unfortunate death during the policy term.
KEY FEATURES OF SARAL JEEVAN BIMA PLAN
- Premium is chosen by the policyholder and Sum Assured is 250 times the Monthly Premium amount.
- Death Benefit is Sum Assured + Return of premiums excluding extra/rider premium and first year premium + Loyalty Addition.
- Maturity Benefit is Maturity Sum Assured + Loyalty Additions, if any.
- Partial surrender of the policy is allowed after the 3rd policy year.
- Extended risk cover for one year after 3 years premium payment.
- Optional higher cover through Term Rider and Accidental Death and Disability Benefit.
- You can choose a maximum term but can surrender at any time without any surrender penalty or loss after 5 years.
- Loyalty Additions are provided from 10th policy year onwards.
MATURITY BENEFITS
- Maturity Sum Assured (Depends on age of entry and policy term) +
- Loyalty Additions, if any
DEATH CLAIM BENEFITS
- Sum Assured (i.e. 250 times the Monthly Premium) +
- Return of premiums excluding extra/rider premium and first year premium +
- Loyalty Addition, if any
ELIGIBILITY CRITERIA OF SARAL JEEVAN BIMA PLAN
| Minimum | Maximum | |
| Sum Assured (in Rs.) | 250 times Monthly Premium | |
| Policy Term (in years) | 10 | 35 |
| Premium Payment Term (in years) | 10 | 35 |
| Entry Age of Policyholder | 12 | 60 |
| Age at Maturity | – | 70 |
| Monthly Premium (in Rs.) | For Age 12 to 49 years: Rs.250/- For Age 50 to 60 years: Rs.400/- |
Rs. 10,000/- |
| Payment modes | Yearly, Half-yearly, Quarterly, Monthly and SSS | |