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Jeevan Saral: A Top-grade Assurance Plan By LIC Of India
Date Added: July 02, 2011 08:11:28 PM
Author: Rohit Sharma
Category: Business: Finance and Investment: Insurance

Jeevan Saral is a specific plan having great features of the accepted plan and have the adaptability of a unit linked plans . It is a monthly continual life insurance plan by LIC of India where the proposer get 250 times the monthly premium plus total premium paid along with some loyalty additions, if any in case of death. This policy provides higher life cover, a smooth return, high liquidity. Jeevan saral supplies raised cover, fast return, fluidity and appreciable flexibility. If you see under normal plan one select the sum assured, but under this jeevan saral plan one has to choose the premium that wants to pay. The sum payable at maturity, however, differs for different entry age and terms. This plan is very suitable for employees seeking life cover through salary saving strategies. Features of Jeevan Saral 1. Broad life cover at a very low premium . 2. Prolonged risk cover for one year after three years premium payment. 3. Elective higher cover available through term riders. 4. The policyholder can choose a maximum term but can be surrendering any time. 5. Without any surrender penalty or loss after five years. Benefits of Jeevan Saral 1. Policy can be relinquished after a minimum three years premium has been paid. Surrender value is seen to be more than guaranteed surrender value. 2. It will be close to 30% of the total premiums paid (excluding the first year premium with an accident benefit + term rider premiums). 3. Interest from the date of basic unpaid premium till the date of surrender. Interest that is to be paid is taken in whole months. 4. The policy will get paid-up value if the at-least three year premium has been paid. 5. A portion of the policy can be surrendered, and money can be received from LIC, if premiums have been paid for a minimum of three years. 6. On death, 250 times the monthly premium, plus return of premiums will be paid. 7. Maturity sum assured plus some loyalty additions if any will be payable . 8. The plan offers auto cover of 12 month after the policy has been in force for a period of three years or more. 9. This plan will permit partial surrenders. Due to state of the flexible term and partial surrender the policyholder will enjoy a lot of liquidity under the plan. Eligibility Age at entry: Minimum 12 years completed and maximum 60 years. Maximum 70 years for the maturity age. Premium: Minimum Rs.250/- per month for entry up to 49 years and Rs.400/- per month for entry age 50 years and above. The premium shall be in multiple of Rs.50 per month. Mode: Yearly / Half yearly / Quarterly and Monthly under Salary Saving Scheme. Accident benefit and unfitness are also allowed. Jeevan Saral can be worded as a simple assurance plan where the policy holder chooses the amount and also the mode of the premium payment. This policy shall be void if the life assured commits suicide at any time on or after the date on which the risk on the policy has commenced but before the expiry of one year from the date of the policy. Visit website to get more information about lic jeevan saral or jeevan saral lic.
 
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