HDFC Life Saral Jeevan Bima
- Flexible premiums
- Additional riders
- Financial protection
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HDFC Life Saral Jeevan Bima is a simple and no-frills, pure-risk best term insurance plan. This plan dispenses the nominee with a fixed amount after the death of the insured during the policy term. It is also a non-linked, non-participating plan with simple features and standard terms & conditions. Saral Jeevan has two accidental death rider options, so it is a term plan that provides comprehensive protection at an affordable price and good coverage.
Let us explore the Saral Jeevan Bima plan in this article.
HDFC Saral Jeevan Bima Plan offers you a range of benefits including:
Minimum Age - 18 years Maximum Age - 65 years
Maximum Maturity Age - 70 years
Minimum term - 10 years Maximum term - 50 years
Basic Sum Assured: ₹50,000 to no limit.
The policy loan is not available under HDFC Life Saral Jeevan Bima Plan.
Single pay, half-yearly, quarterly & monthly
Let's understand how the Saral Jeevan Bima plan works with a simple premium illustration.
Mr. Vikas is a 30-year-old non-smoker earning 10 lacs or above annually. He is looking for a pure-term plan to protect his family financially.
His financial advisor advised him to buy the HDFC Saral Jeevan Bima Work. He visited PolicyX.com.
Let's understand how the HDFC Saral Jeevan Bima works for him with a premium illustration table.
| Age of policyholder | Monthly Premiums | Annual Premiums | Policy Tenure | Total premiums paid | Sum assured |
| 30 years | ₹856/month | ₹10,272/year | 30 years | ₹6,16,320 | ₹50 lacs |
Key Takeaways: If Mr. Vikas dies during the policy tenure, his family will receive ₹50 lacs as a death benefit from the insurer.
Here are the benefits associated with the HDFC Life Saral Jeevan Bima
If the life insured passes away during the policy term, the death benefit shall be payable to the nominee.
Policyholders may avail of tax benefits as per the Income Tax Act, 1961 for up to 1.5 lakhs for the paid premiums.
If the insured passes away during the ongoing policy, due premiums will be deducted from the sum assured amount.
In case the insured disagrees with any terms and conditions, he/she can return the policy to the company for cancellation within 15 days from the date of buying the policy.
In case if the policyholder misses to pay the premiums and the policy lapses, he/she can revive the policy within 5 years from the last unpaid due date, only the condition is the policy term has not expired.
HDFC Term Insurance Plans
You can add the following riders to your HDFC Life Saral Jeevan Bima Plan:
Get additional income benefits over and above your sum assured in the event of total permanent disability due to an accident.
If the policyholder passes away due to an unfortunate accident during the rider term, 100% of the rider sum assured shall be payable.
Here is the list of exclusions associated with the plan:
HDFC Saral Jeevan Bima Plan is a pure protection plan that allows you to stay protected with a life cover up to the age of 70 years. It protects against unfortunate death during the policy term and offers additional options, such as additional riders and multiple payout options. If you want to know more about the plan or compare different plans, you can easily contact us through the website policyx.com or call us at 1800-4200-269.
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Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.
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