Plan Features
Jeevan Saral from LIC is one of the best plan with having great benefits of higher risk cover, liquidity, smooth returns and great flexibility. The LIC Jeevan Saral Policy gives you death cover same irrespective of all age at entry and term.
Death cover can be double of Sum Assured using riders. The Jeevan Saral ATM Plan allows you to withdrawal your money after 10 years with full maturity benefits plus Loyalty additions, if any or you can get guaranteed surrender value before maturity if policy has been in force at least for 3 years. Jeevan Saral LIC policy is basically an Endowment Assurance plan and you can pay premiums according to your comfort monthly, Quarterly, Half yearly or yearly.
Death cover can be double of Sum Assured using riders. The Jeevan Saral ATM Plan allows you to withdrawal your money after 10 years with full maturity benefits plus Loyalty additions, if any or you can get guaranteed surrender value before maturity if policy has been in force at least for 3 years. Jeevan Saral LIC policy is basically an Endowment Assurance plan and you can pay premiums according to your comfort monthly, Quarterly, Half yearly or yearly.
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Plan Parameters
Minimum Age at Entry: 12 yrs
Maximum Age at Entry: 60 yrs
Maximum Age at Maturity: 70
Minimum Premium paying Term: 10 yrs
Maximum Premium Paying Term: 35 yrs
Minimum Sum Assured: 62,500
Maximum Sum Assured: No Limit
Maximum Age at Entry: 60 yrs
Maximum Age at Maturity: 70
Minimum Premium paying Term: 10 yrs
Maximum Premium Paying Term: 35 yrs
Minimum Sum Assured: 62,500
Maximum Sum Assured: No Limit
Example
Mr. ashok 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 premium of Rs.510 . On maturity he will receive Rs.97655/- 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