Jeevan Saral is special plan from LIC India. This policy is one of the best combination of all general features of savings, risk cover and flexibility of liquidation. You only need to choose a basic monthly / quarterly / half yearly or yearly premium in this endowment plan. Premiums in this plan also starts just from Rs. 250 per month (up to 49 years age) and you can start saving with LIC Jeevan Saral with SUM assured of 250 times of your monthly premium.
Quick Features and Benefits:
- Monthly premium starts from just Rs. 250 up to age 49 and Rs. 400 for age 50 & above.
- Any time maturity (ATM Plan) after 10 years without any charges
- Tax benefits on premium paid and maturity as per IT act 1961
- Premium payment yearly, half-yearly, quarterly, or monthly through salary deductions
- Loan available after 3 years of premium payment
- Guaranteed Surrender Value after policy being in force at least for 3 years
- 100% of Maturity Sum Assured in case of surrender after 5 years
- Death cover is same irrespective of age at entry and term
- SUM assured 250 times of monthly premium
- Guaranteed Surrender Value after policy being in force at least for 3 years
Death Cover:
Death cover in LIC Jeevan Saral is Simply 250 times of monthly premium + Premium paid + Loyalty additions, if any. Any extra premium paid and first year premiums will be excluded.
Jeevan Saral policy via LIC is an assured useful policy that aims at providing useful features and advantages such as determined age, policy term etc. Under this policy, policy holder will be aided with the best amount of maturity for each age at the time of policy term and entry term.
Jeevan Saral policy via LIC is an assured useful policy that aims at providing useful features and advantages such as determined age, policy term etc. Under this policy, policy holder will be aided with the best amount of maturity for each age at the time of policy term and entry term.
Maturity Benefits:
At the end of completion of term life insured will get Maturity SUM assured + Loyalty additions, if any.
ATM Plan:
Life insured can withdraw partial or full maturity amount after 10 years without any charges and with full maturity benefits. Hence the plan is also called LIC ATM Plan.
Loyalty Additions:
This is a with-profits plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of loyalty additions which are terminal bonuses payable along with death benefit or maturity benefit. Loyalty Additions may be payable from the 10th year onwards depending upon the experience of the Corporation.
Special Surrender Value:
80% of Maturity Sum Assured if 3 or more years’ but less than 4 years’ premiums have been paid; 90% of the Maturity Sum Assured, if 4 or more years’ but less than 5 years’ premiums have been paid and 100% of the Maturity Sum Assured, if 5 or more years’ premiums have been paid. The Maturity Sum Assured for this para will be the Maturity Sum Assured corresponding to the term for which premiums have been paid under the policy.
Loan:
Life insured can apply for loan in this policy after 3 years of full premium payment. Loan amount will be 85% of premium paid and interest rates may vary time to time.
Tax Benefits:
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.
Supplementary/Extra Benefits:
These are the optional benefits that can be added to your basic plan for extra protection/option. An additional premium is required to be paid for these benefits.
For More Info :- Mudra Nidhi
For More Info :- Mudra Nidhi
