LIC JEEVAN Saral (Table No. 165)
High life risk cover at very low premium.
100% of Maturity Sum Assured in case of surrender after 5 years.
Guaranteed Surrender Value after policy being in force at least for 3 years.
Premiums are payable monthly, quarterly, half-yearly or yearly.
Liquidity & a lot of flexibility.
Maturity amount payable will be Tax Free under section 10-10d of income Tax act.
Premium paid in this policy is income tax exempted under section 80c of income Tax act.
Higher cover available through Term Riders.
Death cover is same irrespective of age at entry and term.
Loan available after 3 years @ 9% p.a.
You can withdrawal partial or full maturity amount any time after 10 years without any extra charges.
Death Benefit is 250 times of monthly premium + Total premium paid, less 1st year's premium & Extra premium paid + Loyalty Addition, if any payable in lump sum.
Jeevan Saral Benefits and Features:
Jeevan Saral Policy won Golden peacock award for it's unique features. This policy has several benefits which are unique and attractive.
Any Time Maturity:
This plan is also known as LIC ATM Plan because the policy allows life insured to withdraw maturity after 10 years at any time, partially or fully. This flexibility lets you reinvest your money or fulfill your financial requirements. It also rewards you with bonus even if you have stopped paying premium after 10 years and maturity is kept inactive in insurance account.
Special Surrender Value:
Special surrender value is one more distinctive feature of this policy. Flexibility of surrender value with such a good benefit takes this plan up. Under special surrender value you get 100% Maturity Sum Assured, if policy surrendered after paying premium for 5 years and above. Maturity sum assured will be as per LIC norms.
Read Jeevan Saral Review and details for user's views.
LIC Jeevan Saral Chart:
Premium payable in table 165 policy and the sum Assured is illustrated below in jeevan saral chart. (Use LIC Jeevan Saral Calculator)
|(Premium Payment Table with DAB)|
|Net Monthly(with DAB)||255||510||1021||2042||3063||5104||6125||7146||8167||10208|
|Net Quarterly(With DAB)||766||1531||3063||6125||9188||15313||18376||21438||24500||30625|
|Net Half Yrly (with DAB)||1516||3033||6065||12130||18195||30325||36390||42455||48520||60850|
|Net Yearly (with DAB)||3002||6005||12010||24020||36030||60050||72060||84070||96080||12100|
|SUM Assured (10 Yrs)||62500||125000||250000||500000||750000||1250000||1500000||1750000||2000000||2500000|
|S.A. + DAB||125000||250000||500000||1000000||1500000||2500000||3000000||3500000||4000000||5000000|
In the above chart, premiums are illustrated with the basic SUM assured. The DAB amount (double accident benefits) is optional and can be taken to get one additional SUM assured for accident death case.
If a person takes policy with premium of 2000, in such case the benefits provided to the nominee will be as follows:
250 times of monthly premium = 2000*250=5,00,000 + premium paid, less 1st year's premium & Extra premium + Loyalty Addition, if any.
In case of accidental death if DAB taken then one addition sum assured (2000*250=5,00,000) will be added in above given benefits.
|12 to 60 years|
|70 Years Maximum|
|10 to 35 Years|
Rs. 250 /month for age up to 49 and Rs. 400 /month for age 50 & above.
Max No limit (Premium in multiple of Rs. 50 /month).