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Lic Jeevan Saral
VS
Lic Siip
| PLAN DETAILS |
Lic Jeevan Saral |
Lic Siip |
| Premium Including GST | ||
| Key Features (Key features of the plan) |
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| Plan Uniqueness |
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| Plan Maturity age | Maximum Maturity Age - 70 years | Maximum Maturity Age - 85 years |
| Premium payment term | 10 to 35 years | 10 to 25 years |
| Plan Entry Age | Minimum Age - 18 years Maximum Age - 65 years | Minimum Age - 90 days Maximum Age - 65 years |
| Sum assured | Rs 5 lakhs to Rs 25 lakhs | Rs 10 lakhs to No limit |
| Premium payment frequency | Annual, half-yearly, quarterly & monthly | Annual, half-yearly, quarterly & monthly |
| Plan Sample Premium | - | - |
| Plan Brochure | Brochure URL | Brochure URL |
| Policy tenure | Minimum- 10 years Maximum-35 years | Minimum term - 10 years Maximum term - 25 years |
| Claim Settlement Ratio (2024-25) | 98.5% | 98.5% |
LIC Jeevan Saral is an Endowment Assurance plan under which the proposer has simply to choose the amount and mode of premium payment. The plan comes out with the needful financial protection to support death throughout the term of the plan. The death benefit is directly related to the premiums paid. The Maturity Sum Assured depends on the age at entry of the life to be assured and is payable on survival to the end of the policy term. It also offers the flexibility of terms and a lot of liquidity.
Under this plan, the premium amount will be decided by the insured person and he/she will get almost 250 times the monthly premium as Sum Assured. If the insured person survives the entire tenure then he/she would be liable to receive Maturity Sum Assured + Loyalty Additions. The Maturity Sum Assured depends on different entry ages and policy terms and is specified at the beginning of the policy.
Now, if the case where the insured dies within the policy tenure then his nominee would receive the Sum Assured + Return of premiums excluding extra/rider premium and first-year premium + Loyalty Addition if any.
LIC Saral Jeevan Bima Plan offers you a range of benefits including:
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