Lic Jeevan Saral vs Lic Siip Life Insurance Plan 2026 | PolicyX
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LIC Jeevan Saral is an Endowment Assurance plan where the proposer chooses the premium amount and mode of payment. The plan provides financial protection in case of death throughout the policy term. The death benefit is directly related to the premiums paid. The Maturity Sum Assured depends on the entry age of the life assured and is payable upon survival to the end of the policy term. It also offers flexible terms and liquidity.

Under this plan, the insured person decides the premium amount and will receive approximately 250 times the monthly premium as Sum Assured. If the insured survives the entire tenure, they will receive the Maturity Sum Assured plus Loyalty Additions. The Maturity Sum Assured depends on different entry ages and policy terms, and is specified at the beginning of the policy.

If the insured dies within the policy tenure, their nominee will receive the Sum Assured plus return of premiums (excluding first-year and extra/rider premiums), along with any Loyalty Addition.

LIC Saral Jeevan Bima Plan offers a range of benefits, including:

  • Maturity Benefits
  • Death Benefits
  • Home Loan Surety
  • Loan Facility
  • Loyalty Additions
PLAN DETAILS

Lic Jeevan Saral

Lic Siip
Premium Including GST
Key Features
(Key features of the plan)
  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure
  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure
Plan Maturity age Maximum Maturity Age - 70 years Maximum Maturity Age - 85 years
Plan Sum Assured 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
Plan Payment modes Rs 5 lakhs to Rs 25 lakhs Below 55: 10x premium 55 & above: 7x premium
Plan Policy loan Annual, half-yearly, quarterly & monthly Annual, half-yearly, quarterly & monthly
Plan Sample Premium - -
Plan Brochure Brochure URL Brochure URL
Policy Term Minimum - 10 years, Maximum - 35 years Minimum term - 10 years Maximum term - 25 years
Claim Settlement Ratio (2024-25) 98.5% 98.5%

* The above sample premiums are for a 30-year-old male, nonsmoker with a sum assured of Rs 50 lakhs and a policy tenure of 25 years. You can calculate the premiums for the above life insurance plans using the PolicyX Life Insurance Calculator.

Riders

Benefits of LIC Jeevan Saral

There are various benefits to buying the LIC Jeevan Saral Plan. Let's understand each of them in detail:

  • Death Benefits: You will receive approximately 250 times the monthly premium, along with any loyalty additions and return of premiums (excluding first-year and extra/rider premiums), payable in a lump sum upon the death of the life assured during the policy term.
  • Maturity Benefit: The Maturity Sum Assured plus Loyalty additions, if any, is payable in a lump sum.
  • Loyalty Additions: This is a with-profit plan and participates in the Corporation’s life insurance business profits. It receives a share of these profits as loyalty additions, which are terminal bonuses payable with the death or maturity benefit.
  • Supplementary/Extra Benefits: These are optional benefits that can be added to the basic plan for extra protection. An additional premium is required for these benefits.

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Reviewed By: Naval Goel

Naval Goel has over a decade of expertise in the insurance sector, having worked with companies like AIG, New York. He is an Associate Member of the Indian Institute of Insurance, Pune, and is authorized by IRDAI to act as Principal Officer of PolicyX.com Insurance Web Aggregator.

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