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Double Accident Benefit




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Jeevan Saral Plan

LIC Jeevan Saral (Table 165) is actually an endowment policy with a lot of flexibilities that is usually available only with unit linked insurance plans. Hence it is categorized under Special Plans. This is a non unit-linked insurance plan with Double Death Benefit of Sum Assured + Return of Premium.

In this plan, the premium amount is decided by the policyholder and he gets 250 times the monthly premium as Sum Assured.

Key Features of LIC Jeevan Saral :

•   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.

LIC Jeevan Saral Eligibility Conditions :



Sum Assured (in Rs.) 62,500 No Limit
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 and SSS

Benefits of LIC Jeevan Saral :

Maturity Return - Maturity Sum Assured (Premiums paid) with Loyalty Addition will be paid on Policy maturity.

Death Benefit – On the death of the life insured before policy maturity, Sum assured with Loyalty Addition will be paid.

Income Tax Benefit – Available under Section 80 C for premiums paid and Section 10 (10D) for Maturity returns
Loan on Policy - Available
Housing Loan Surity- Available