LIC Jeevan Saral Policy Online – Review


LIC Jeevan Saral Policy is often listed under the special plans offered by LIC. It is not a ULIP. That is, this policy is a non-unit linked insurance policy. 

You can now purchase this plan online and enjoy the benefits. This is a profitable plan                which has received positive reviews from the purchasers.

Overview of LIC Jeevan Saral Policy

The overview of the LIC Jeevan Saral Policy will help you get a rough idea about the plan. Whether buy it online or not, the summary comes in handy always.

Parameters Minimum Maximum
Policy Term (in years) 10 35
Age of Policy Holder During Entry 12 60
Age at the Time of Maturity 70
Monthly Premium (in Rs) For 12 to 49 years of age – Rs 250

For 50 to 60 years of age – Rs 400

Sum Assured (in Rs) 250 times the Monthly Premium
Premium Payment Term (in years) 10 35
Payment Modes Yearly, Half-Yearly, Monthly, Quarterly and SSS


Features and Benefits of the Jeevan Saral Policy

Jeevan Saral offers the following functions:

  • The policyholder gets to decide the amount of the premium.
  • If the policyholder, that is, the insured, stays alive for the whole policy term, he receives a sum equal to Maturity Sum Assured + Loyalty Additions.
  • The Maturity Sum Assured takes into consideration the entry age of the policy holder. The policyholder gets notified of the Maturity Sum Assured while purchasing the policy.

The benefits offered by this policy are as under:

  • Death Benefit: The Death Benefit of the policy does not depend on the entry age of the policy holder. If the insured person dies within the policy term, the Death Benefit received by the nominee will be equal to –

Sum Assured + Return of premiums (this does not include any additional rider or first-year premium) + Loyalty Addition, if there.

  • Tax Benefit: Premium payments and maturity sum are both excluded from taxation under the Sections 80c and 10(10D).

Additional Features of the Policy

This policy comes with two additional riders. These are optional, and you may or may not decide to purchase these riders:

  • Accidental Death and Disability Rider
  • Term Rider, where the minimum sum assured is Rs 1 lakh, and the maximum can be up to Rs 25 lakhs.

Profits of The Plan

Jeevan Saral comes with some incredible benefits. And by that, I do not mean just the Death Benefit or the Tax Benefit. Not only is the certain sum offered by this policy of LIC, but also loyalty bonuses are added.

However, the catch is that this feature is applicable only if you manage to keep the policy active for at least ten years. If it is active until the end, then, of course, you get the loyalty bonus given by LIC.

A Bit More On the Loyalty Bonus

It is true that you have to hold the policy for at least ten years to receive the loyalty bonus. But if you surrender the policy after ten years, it won’t affect the loyalty bonus from LIC.

Loyalty bonuses depend on the profits made by LIC. Since that is fluctuating, the exact amount of loyalty bonus cannot be determined. Check out estimated rates for 2016-2017 here.

Review After Purchase of Jeevan Saral

Purchasers have liked and positively considered the Jeevan Saral Policy of LIC. This insurance plan of LIC is a systematic policy which accrues quite a significant maturity sum.

This is an LIC endowment plan. You get to choose your preferred amount and your convenient payment method. Thus, you have complete ownership over your investment.

Buying It Online

Buying Jeevan Saral Policy online is pretty simple. You just need to make your way through to the official website of Life Insurance Corporation of India. And then, you shall be guided pretty quickly by the user-friendly website itself!


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