Review of LIC Jeevan Saral

My father bought LIC Jeevan Saral in 2002. Shortly after in 2005, he passed away. Fortunately, with the help of LIC Jeevan Saral’s insurance amount, my sister and I were able to complete our studies. Later on, I bought the same plan to secure the future of my family if something happens to me. I live stress-free now knowing that my family’s financial needs will be taken care of even if I am not around. By Mr. Raghubendra Dixit

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Mr. Raghubendra Dixit bought LIC Jeevan Saral to secure the future of his family in his absence. He bought the plan because of his father’s advice. After his father’s demise, the plan provided financial coverage which helped the family to fulfill their dreams.

The plan, however, is not available in the market now as it was withdrawn by the company in 2014. But those who have already bought this plan before it was withdrawn can enjoy the benefits of the same.

Let us explore more about the plan and understand LIC Jeevan Saral in more detail:

LIC Jeevan Saral is an endowment plan that offers the dual benefits of life cover and savings. It is a comprehensive plan that offers a pocketful of benefits to the policyholder and ensures their financial security.

What are the Benefits of the LIC Jeevan Saral Plan?

Below mentioned are some of the benefits offered by LIC Jeevan Saral Plan:

  • Death Benefit

    In case the policyholder dies during the policy term, a lump sum amount is paid to the family of the policyholder as long as the policy term continues.

    The death benefit paid is 250 times the premium paid every month along with loyalty additions (if any) and premium returns.

  • Maturity Benefit

    If the policyholder survives till the maturity of the policy, then he/she will receive maturity benefit. The maturity benefit is paid in a lump sum and is equal to the sum assured amount along with the loyalty addition (if any).

  • Additional Benefits for enhanced protection

    Several additional benefits such as Accidental Death and Disability Rider or Term Assurance Rider can be added to an insurance policy to enhance overall protection. One can add these riders to their base policy by paying additional premiums. 

  • Auto Cover

    The plan offers the auto cover benefit of 12 months provided the policy has been in force for more than 3 years.

  • Loan Facility

    To look after the emergency financial needs, the plan also provides a loan facility once it acquires a paid-up value.

What are the Eligibility parameters to buy LIC Jeevan Saral Plan?

Minimum Maximum
Entry Age 12 years 60 years
Maturity Age 70 years
Policy Term 10 years 35 years

Summing it Up

LIC Jeevan Saral is a complete plan which offers benefits like death benefit, maturity benefit, loan facility, tax benefit and many more. The plan, bought by Mr. Raghubendra Dixit and many other customers are happy and satisfied with the benefits available and are living stress-free knowing that their family will be looked after their death.

The plan is not available for sale now, and you cannot buy this plan anymore. However, those who already have this plan, can enjoy the benefits.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
~Source - Google Review Rating available on:-

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