Contents
- 1 Lic Jeevan Saral Policy Review
- 2 Lic Jeevan Saral Policy Conditions
- 3 Jeevan Saral Lic Policy Rebates
- 4 Lic Policy Jeevan Saral Maturity Claims
- 5 Jeevan Saral Lic Policy Death Claims
- 6 Lic of India Jeevan Saral Policy Additional Benefits
- 7 Riders available in Lic Jeevan Saral Policy
- 8 Additional Information about Lic Plan Jeevan Saral
- 9 Lic Jeevan saral Policy Benefit illustration
Lic Jeevan Saral Policy Review
Lic Jeevan Saral policy was Introduced on: 16-02-2004. Jeevan Saral Lic plan contains a smooth return, higher death cover, liquidity and lot of flexibility. This is an endowment assurance plan where policyholder decides the amount of premium he wants to pay per year. Once the premium is chosen, the SA (sum assured) payable on death will be determined, irrespective of the age and policy term. Under Lic Jeevan Saral 165, death benefit will be same regardless of age at entry and policy term, but the amount payable at maturity will be different for each age at entry and policy term.
Important information about Jeevan saral lic policy details, lic jeevan saral maturity amount chart, jeevan saral benefits, Lic of India jeevan saral returns, etc.
Lic Jeevan Saral Policy Conditions
| Age at Entry: |
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| Policy Term: |
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| Mode of Payments: |
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| Maximum Maturity Age: |
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Premium:
| Age at entry | Minimum premium |
| Up to 49 years | Rs. 250/- per month |
| 50 to 60 years | Rs. 400/- per month |
Maximum: No limit
Sum Assured (death): 250 times the monthly premium.
| Age at entry | Minimum sum assured |
| Up to 49 years | 62500 |
| 50 years and above | 1,00,000 |
Maximum: No limit
Jeevan Saral Lic Policy Rebates
There are 3 types of rebates,
- Sum Assured Rebate
- Mode Rebate
- CEIS Rebate
Sum Assured Rebate:
Under Lic Jeevan Saral Plan, Sum assured rebates are not available.
Mode Rebate:
| Mode | Percentage |
| Yearly mode | 2% of tabular premium |
| Half-yearly mode | 1% of tabular premium |
| Quarterly and SSS | Nil |
CEIS rebate:
Under Lic Jeevan saral plan CEIS rebate is available. It is 10% of basic premium.
Lic Policy Jeevan Saral Maturity Claims
- Maturity claim = Maturity sum assured (not death sum assured) + loyalty addition.
- Maturity claim for term assurance rider is not payable.
Jeevan Saral Lic Policy Death Claims
Death claim under auto cover (without term assurance rider) :
Death claim = Basic death sum assured + (return of premiums – 1st year premium and extra/rider premiums/EPDB premiums if any) + loyalty additions – outstanding loan with interest if any.
Accidental benefit and Disability benefit riders are not available during Auto cover period.
Death claim under auto cover (with term assurance rider) :
Death claim = Basic death sum assured + Term rider sum assured + (return of premiums – first year premium and extra/rider premiums/EPDB premiums if any) + loyalty additions – o/s loan with interest if any.
If death of life insured occurs within auto cover period, then term rider sum assured is not payable.
Lic of India Jeevan Saral Policy Additional Benefits
Loyalty Addition
- Loyalty addition is based on the term of the policy and is payable when policy is surrendered or on maturity or death.
- Lic Jeevan Saral policy will be eligible for loyalty addition only after paying premiums for 10 years and after completion of 10 years from commencement date.
Riders available in Lic Jeevan Saral Policy
- Term Assurance Riders
- Accidental death and Disability benefit Rider
Term assurance rider (optional) :
Lic Jeevan saral plan offers this optional rider by payment of additional premium.
| Age at entry: |
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| Maximum age at maturity: |
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| Sum assured: |
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Accidental death and Disability benefit rider:
- Accidental death and disability benefit rider is available up to maximum SA of 50 lakh. PDB (Permanent Disability Benefit) is not available under this plan.
- Sum assured for this rider is death sum assured. For auto cover period Accident death and disability benefit rider is not available.
Additional Information about Lic Plan Jeevan Saral
Guaranteed Surrender Value:
GSV = 30% ( total amount of premiums paid – the premiums for the 1st year and all extra premiums and premium for accident benefit/term rider).
Paid Up Value:
Paid up value payable on death or maturity depends on no. of premiums paid and will be greater of
- No. of years premium paid/No. of years premiums payable X Original Maturity sum assured (OR) Surrender value as per SSV
Special Surrender Value:
SSV = Discounted or Accumulated value of maturity sum assured + loyalty addition (if any).
Partial Surrender Value:
After completion of 3 years or more from DOC and if premiums have been paid for at least 3 full years, partial surrender will be allowed.
| Age at entry | Reduced basic monthly premium after the partial surrender |
| Up to 49 years | > Rs. 250/- per month |
| 50 years and above | Rs. 400/- per month |
| Mode of payment | minimum basic monthly premium that can be surrendered at a time |
| Monthly | Rs. 100/- |
| Half-yearly | Rs. 600/- |
| Yearly | Rs. 1200/- |
Auto Cover:
- After paying at least 3 full years premiums, if further premiums are not paid, then risk cover will be extended for 12 months from the date of FUP.
- Auto cover is not extended for term assurance benefit rider and Accidental death benefit rider.
Loan:
- Loan facility is available under Jeevan saral policy.
Revival:
- Policy can be revived within a period of 5 years from date of FUP with proper health evidence.
Lic Jeevan saral Policy Benefit illustration
Example:
Mr. Akash is 25 years old and is working in auto industry. He opts for jeevan saral plan for 15 years term and chooses monthly basic premium of Rs.500/-
After adding DAB (Double Accident Benefit) premium of Rs.510 (500 x 250 = 1,25,000 x 1/1000 x 1/12 = 10 + 510).
On maturity he will receive Rs.97,655/- as maturity sum assured (MSA) + Loyalty Addition which will be decided by the corporation.
If he dies after 4 years,
his nominee will get Rs.1,25,000 (250 x 500) + premium paid for 4 years – first year premium = 1,25,000 + 24,480 – 6120 = 1,43,360/- + Loyalty Addition, if any.
take jeevan saral plan plc. give me informetion & detail
contact me 9451900964 for any plan of lic
take jeevan saral plan plc. give me informetion & detail
सर मुझे चार्ट भेज दो के कितने साल बाद कितने पैसे मिलेंगे।मैं हर तीसरे महीने 3062 रुपए भरता हूँ।
I want status policy no. 503318555
WANT TO KNOW ABOUT SURRENDER VALUE OF JEEVAN SARAL POLYCY AFTER 10 YEARS
HI i have opted this lic jeevan saral in 28-07-2012, for 17 years plan and paying a premium of 48000 per year. i want to stop this plan now as a burden when pays them premium amount of 48000. Can you please let me know if i withdraw now will be a wise decision ? how much i will get now if plans to surrender? or i should wait upto which tym period (minimum) and then surrender it so that i dont bear the loss from this policy.
Thanks
deepi nigam
I want to know the bonus rate for this Jeevan Saral Policy..
I have taken Lic Jeevan Saral Policy in 09-Mar-2012 and i am paying 28824 per year and I have taken for 20 years may i know the approx. amount which i will get on maturity.
Thanks.
give me information and details of plan no. 165
my policy name jeevan sarl plan no 165
my policy no 893944033
policy start by 2009
and end by 2034
yearly amout paid 12010
my policy name jeevan sarl plan no 165
my policy no 893944033
policy start by 2009
and end by 2034
yearly amout paid 12010
after maturity which amount in hand
My policy no.-132497544 take jeevan saral (with profits) pl. Give me information & details. Reply
I have been paying Rs 1021 per month from the last 6 years in Jeevan saral policy of LIC of India. I want to stop this policy now and I want to know how much will I get if I stop this policy today.
I am Umesh tiwari is 38 yes. Old and is working in aeronautics industry. I opts for jeevan saral plan for 20 yes terms and choses monthly basic premium of Rs-2024,
I wants totly profit after maturity or after 10 yrs
I am Umesh tiwari is 38 yes old and is working in aeronautics industry .I opts for jeevan saral plan for 20yrs and choses monthly basic premium of Rs-2024,.I wants totly profit after maturity or after 10 yes with loyalty
total amount in policy
pankaj
Dear Sir/Madam,
iam having Jeevan Saral policy – paying yearly premium of Rs.18015 and paid for 6 years and entering to 7th year – due to financial issue – need to close this policy – provide me suggestion what will be return i will get when full closure or whether i can surrender partail – need views in this
Looking for better LIC policy
give me information about my premium of last six months
give me information about my premiums of last six months
I m a policy holder of jeevan saral plan when I was 28 years old.qly premium is 4594 for 15 years so I want know that .. What is my maturity value pls ans me
I had taken Jeevan Saral policy premium 60000/year
What will be maturity amount in 32 years.
Please let me formula on which this calculation is done.
I have taken the policy in Jnauary 2012, I have paid the installments. If i want to surender the policy what is the amount i will be getting?
Dear All,
Please opt for HDFC policies,LIC policies will only leave you in helpless situations during emergency
No proper process, the agents are really robbers and theives.
My sincere advice dont go for LIC of india.
I have taken jeevan saral policy ..874055117. Started on 28/11/2007. .my quarterly premium is 1531. …i want to know on maturity how many amount will i received…
Also my log in id for online payment forgotten since a long time…i request you to provide new id on my new mail id. bharatparmar7577@gmail.com
Danish saba. I have taken my policy for 10 year in JEEWAN SARAL 165 with yearly 47040 per annum. After 10 year how much amount I get
I have taken Lic Jeevan Saral Policy (with profit) in 23-dec-2013 and i am paying 12300 per year and I have taken for 20 years may i know the approx. amount which i will get on maturity.
policy number 927061327
Thanks.
Reply
Dear sir,
I had taken lic Jeevan Saral policy for 20 years can you explain me what is terms and condition in this policy
12000/year
That time was know about this policy
I opened my accounts in January 2013 till now investment 42000 so i need all details
Mahesh Chandra
Lic no 243125367
I started my policy jeevan saral from 2010 for 25 years 4063 per month premium , how will get me after maturity send me chart