Updated: 06-08-2025 at 3:30 PM
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LIC Saral Jeevan Bima Yojana is a type of insurance plan that releases the claim amount in the event of the policyholder's unfortunate death. The released claim is then provided to the family members of the policyholder. It is an extremely beneficial scheme that not only gives financial aid but also a sense of security and safety.
Read the article to learn more about the LIC Saral Jeevan Bima policy details, insurance plan, Saral Jeevan Bima Yojana premium calculator, ranging from its meaning and features to eligibility and the process of buying.
The table below summarises certain key details about the Saral Jeevan Bima Yojana lic calculator and Jeevan Saral Bima Yojana insurance plan that one should know about.
Name of the insurance plan | LIC Saral Jeevan Bima Yojana |
---|---|
Objective | An insurance policy, under which the family members of the policyholder are provided with the claim amount in case of the policyholder’s unfortunate death |
Eligibility | An individual should be between the ages of 18 to 65 years |
Mode of application | Online |
Jeevan Saral Bima Yojana is an insurance policy, following which the family members of the policyholder are provided with the claim amount in case of the policyholder’s unfortunate death. This insurance policy is extremely inclusive and affordable, especially for all those whose annual income falls between the range of 1 lakh to 5 lakh.
The Saral Bima Yojana is not only a beneficial insurance plan but an extremely affordable insurance plan as well. The terms and conditions of premium payments are also extremely flexible, which makes it ideal for people, especially for all those whose annual income falls between the range of 1 lakh to 5 lakh.
For example, a policyholder is also given the freedom to pay the premium amount in the first year and then enjoy the benefits without having to worry about the premium payments.
Read More: Cashless Everywhere: Medical Bills For Health Insurance
There are several features Saral Jeevan Bima Yojana Benefits, that attract people. Some of its major features & benefits are laid down below:
The insurance policy is specifically designed for the family members of the policyholder so that they can be safe in case of the policyholder’s unfortunate death.
The Jeevan Bima Policy provides a term coverage of up to 70 years of age of the policyholder.
There are various modes of premium payments, such as one-time, annual, half-yearly, or monthly. All of them are created to provide as much ease and convenience to the policyholders as possible.
In the event of the death of the policyholder, claims are released based on the mode of premium they opted for.
Mode of payment | Amount |
---|---|
One-time payment | The highest 125% of the total amount is provided to the family members. |
Limited or Regular payment | 105% of all the premiums paid till now are credited in favour of the family members. |
Saral Jeevan Bima Yojana eligibility is not strict, and hence, any individual between the ages of 18 to 65 years can buy the insurance policy.
One can complete the LIC Saral Jeevan Bima policy details online application by following the steps mentioned below in detail for one’s reference:
Step 1: Please visit the Saral Jeevan Bima website.
Step 2: Fill in all the details true to your knowledge, such as your name, date of birth, health-related habits, etc.
Step 3: After filling information, a list of Safal Jeevan Bima plans will appear on the screen.
Step 4: Select your preferred plan and make the payment.
To complete the Saral Jeevan Bima Yojana online application, one needs to submit some documents too. The list of those document areas follows:
The terms and conditions of the Saral Bima Yojana are written below in points for one’s better understanding:
A grace period of 30 days from the due date of the premium is given to people, after which the policy will lapse.
Revival of void policies should be done within 5 years from the date of the first unpaid premium. Please note that you apply for revival only if the policy’s maturity is far.
Policyholders interested in buying the policy are given a free-look period of 15 days, wherein cancellations after payment are also allowed, but only for justified reasons.
In case a policyholder commits suicide within a year of buying the bima, 90% of the total premium will be returned.
If you’re someone who is looking for an affordable and flexible insurance plan for safeguarding your family’s future, the Jeevan Saral Bima Yojana would be ideal for you. Please note that even if you don’t have a regular source of income, you still do come under the Saral Jeevan Bima Yojana eligibility and can then apply to be a part of the scheme with just a few documents, such as car ownership documents, home loan statement, credit card statement, etc..
The LIC Saral Jeevan Bima Yojana is an extremely affordable and flexible insurance policy that people can take to protect their family's future after their demise. Do apply to be a part of the scheme if you’re looking for a convenient insurance policy.
Stay updated with Jaagruk Bharat to get the latest information on government healthcare schemes and more, and reach out to us via our community page if you have any questions.
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