LIC Jeevan Saral Review

 

Jeevan Saral is an Endowment Assurance plan. It provides financial protection against death throughout the term of the plan. 250 times death benefits and any time withdrawal in Jeevan Saral are major features of this plan. The Maturity Sum Assured depends on the age at entry of the life to be assured and is payable on survival at the end of the policy term along with loyalty additions, if any.

Loyalty additions in this policy are declared only after 10 years or earlier in case of life insured’s death. Although it is not a ULIP plan but the calculations of actual maturity claim is not possible due to uncertainty of loyalty additions.

 

Please read Jeevan Saral policy details before posting new comment below.

 

Sumeet Mehta Says:

October 10, 2012 10:11 AM

 

Accidental benefits are ok but the maturity benefits are not sure. My policy is going to be mature in 2014 but I could not get bonus details yet, lets see what return LIC gives.

 

Karan Kapoor Says:

November 9, 2012 8:23 PM

 

I took this policy in 2004. I don’t remember how much years I have mentioned in Policy form but I want to extend policy for 15 years now. What is the procedure? Thank you in advance Regards K Kapoor

 

Prasad Says:

December 2, 2012 9:09 PM

 

What option we have to check in website to see my jeevan saral policies status?

 

Amit Sinha Says:

December 3, 2012 11:02 AM

 

Hi Prasad, you can follow the instructions given at www.licindiainfo.com/blog/lic-policy-status/ to view your Jeevan Saral policy status.

 

Rajani Says:

December 8, 2012 1:18 PM

 

Am planning to take this plan, Do we get the mentioned amount after maturity as per maturity table?

 

Aditi Says:

December 9, 2012 7:45 PM

 

Hi Rajani There is no such maturity table presented by LIC. The maturity tables are prepared by agents to explain the plan assuming maturity with a particular IRR.

 

Vivek Chaudhari Says:

December 11, 2012 10:29 AM

 

Sir, I want to know is this a market based plan? N what will be the minimum IRR that I will get after maturity?

 

Vinay Gopal Says:

December 18, 2012, 12:54 pm

 

I guess there is nothing like fix or promised IRR but I am sure it is not a market base plan because I got maturity written in my bond paper.

 

vivek Says:

December 21, 2012, 11:18 pm

 

But the maturity amount is calculated on what basis? Is it that your total investment?

 

Vinay Gopal Says:

December 22, 2012 1:45 pm

 

Total maturity amount will be Maturity SUM assured + Loyalty additions. Maturity Sum Assured is mentioned in your bond paper and the loyalty additions (bonus) will be included from 10th year onwards. Loyalty additions are depending upon IRR but IRR is not predefined.

 

M. G. Husain Says:

January 5, 2013 7:18 am

 

As per ATM table all get same benefit or benefits depending up on the age? Please advice for 52 age people table 165.

 

Amit Shukla Says:

January 5, 2013 11:30 am

 

Benefit under LIC ATM Plan does not depend upon the age factor hence benefits for 52 year insured will be equal to an insured aged 25 years for same term, premium and duration, . Only one difference is that the monthly premium starts from Rs. 400 instead of Rs. 250 for people aged 50 & above.

 

Shaveta Vig Says:

January 10, 2013 6:16 pm

 

If we want to withdraw from the jeevan saral (with profit) table no 165 (15 year) then what is the procedure and the minimum years to follow this policy ? reply must...

 

Amit Shukla Says:

January 11, 2013 1:50 pm

 

Hi Shaveta ,
You need to visit LIC branch for surrendering policy.
To get benefits of Jeevan Saral policy, you should continue policy for at least 10 years.

 

Usha Says:

March 11, 2013 4:27 pm

 

In Jeevan Saral ATM, it is shown that after 3 years you will get such and such amount and after 5 years your will so and so amount, and so on. But in 1st and 2nd years no amount mentioned in the table. What does it mean? Is it mean that if we surrender policy before two years of commencing the policy, we will not get any amount or what?

With regards, Usha

 

Mukesh Rathore Says:

March 11, 2013 05:01 pm

 

Hi Usha,
Surrender value is given only after full 3 years of policy term. No surrender value will be given in case policy surrendered before 3 years of policy term.

 

Waseem Says:

March 19, 2013 1:01 am

 

When took this policy, agent ensured the term will be 10 years. When I got policy document the term was mentioned as 15 years. I want to follow this policy only for 10 years. What should I do? Can I change my term? What effect it will have on sum assured?

 

Amit Shukla Says:

March 19, 2013 11:49 am

 

Hi Waseem, In this plan withdrawing maturity after 10 years at any time will not impact your maturity benefit. In fact I personally prefer to mention longer term for this plan because that will give me an option to extend my term after 10 years if I want.