JEEVAN SARAL – (Table Nos. ). Benefit Illustration. Introduction It gets a share of the profits in the form of loyalty additions which are terminal bonuses. You just need to click on the required form link of Life Insurance Corporation of India and LIC ECS Mandate Form – Click here to download ECS form; LIC Form Lic Jeevan Sangam Policy no · Lic Jeevan Saral Policy Plan No . Detailed Review & Our Recommendation on LIC Jeevan Saral Plan. Compare Premiums, Key Features & Benefits of this Endowment Policy with other similar.
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It is basically an Endowment Assurance plan under which the proposer has simply to choose the amount and mode of premium payment.
The plan jeeevan out with the needful financial protection 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 jeeban survival to the licc of the policy term. It also offers the flexibility of term and a lot of liquidity. The Maturity Sum Assured depends on different entry ages and policy term and is specified at the beginning of the policy.
Thus, the Death Benefit would be the same irrespective of the age of entry and policy term since it depends only on the chosen premium amount but the Maturity Benefit would differ according to the varied age of entry and policy term.
It offers certain flexibilities unlike other endowment plans and hence is a Special Plan. The policyholder is allowed to select the premium amount and Sum Assured gets determined thereafter. The policy will allow partial surrender from 4th year onwards subject to certain frm and conditions.
Under the same, the policyholder would be liable to choose a flexible term for premium payment. Premium is chosen by the policyholder and Sum Assured is times the Monthly Premium amount.
You will get the extended risk cover for one year after 3 years premium payment. You can select a maximum term but can surrender at any time without any surrender penalty or loss after 5 years. The Maturity Sral Assured plus Loyalty additions, if any, is payable in a lump sum.
LIC Jeevan Saral
Premiums paid are exempted from income tax-free for Jeevan Foem policy under Sec 80 C. The maturity proceeds of Jeevan Saral are also exempted from tax under Section 10 10D. An additional premium is required to be paid for these benefits. Premiums are payable yearly, half-yearly, quarterly, or monthly through salary deductions as opted by you throughout the term of the policy or till earlier death.
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 ueevan the 10th year onwards depending upon the experience of the Corporation. This policy can only be surrendered after the completion of 3 years. Buying a life insurance contract is a long-term commitment. Surrender values are available on earlier termination of the contract. The surrender value will be the greater of the guaranteed surrender value and special surrender.
Loan facility is available under this policy. House loan facility is also available under this plan.
Extended risk cover is available from 1 year after 3 years of premium payment. Optional high cover through term rider and accidental disability and death benefit is also available. Minimum premium payment term is 10 years whereas the maximum term for premium payment is 35 years.
Minimum entry age for a policyholder is 12 years and the maximum age is 60 years. The monthly premium for the age group of 12 years to 49 years is Rs. Payment jeecan available are annual, half-yearly, quarterly and monthly.
In case you stop the premium payment- If you stop the premium payment after 3 policy years then the policy would be able to acquired a Paid Up Value for a Reduced Sum Assured but the policy would be eligible for any future regular additions.
Surrender the policy — There is a Guaranteed Surrender Value after 3 policy years. If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy,the Policy shall be void and the Company will only be liable to pay the premiums paid till date. In order to avail this policy the assured needs to provide with a umber of documents.
The policyholder also needs to provide with medical details along with address proof and KYC documents. In some specific cases medical tests may also be required depending upon sum assured and the age of the assured.
PolicyX or any of its subsidiaries does not endorse any of the information provided herewith and are committed in providing correct and unbiased information to its customers helping them make an informed decision. YYYY LIC Jeevan Saral Plan It is basically an Endowment Assurance plan under which the proposer has simply to choose the amount and mode of premium payment. LIC Jeevan Saral – Key Features It offers certain flexibilities unlike other endowment plans and hence is a Special Plan The policyholder is allowed to select the premium amount and Sum Assured gets determined thereafter The policy will allow partial surrender from 4th year onwards subject to certain terms and conditions Under the same, the policyholder would be liable to choose a flexible term for premium payment Premium is chosen by the policyholder and Sum Assured is times the Monthly Premium amount.
Partial surrender of the policy is allowed after the 3rd policy year. Loyalty Additions are there from 10th policy year onwards.
Minimum policy term is 10 years and the maximum is 35 years.
LIC JEEVAN SARAL PLAN CHART PDF
The Basic Sum Assured shall be in multiples of Rs. There is no minimum age at maturity but the maximum age is jervan years. Maximum monthly premium is Rs. Minimum Maximum Sum Assured in Rs. For Age 12 to 49 years: Details Sum Assured Age at entry: Yearly Amount of annual premium: Scenario 1Amount payable at the end of year on death during the year Rs.
LIC Jeevan Saral Plan – Review, Key Features & Benefits
Scenario 2Amount payable at the end of year on death during the year Rs. Exclusions in Jeevan Saral Plan If the Life Insured under the Policy, whether medically forrm or insane, commits suicide, within one year of the date of issuance of the Policy,the Policy shall be void asral the Company will only be liable to pay the premiums paid till date.
Documents required for Jeevan Saral Plan In order to avail this policy the assured needs to provide with a umber of documents. How helpful was this page?
Guaranteed Amount payable at the end of year on death during the year Rs.