The life assurance also referred as life insurance in which there is bond between policy holder as well as insurance company
The jeevan saral is a special plan having good features of conventional as unit linked plan. It provides several benefits to policyholder
1. Smooth returns
2. Higher cover
3. It provides lot of flexibility.
The unit linked plans as well as conventional linked plan are two types of plan by life insurance Corporation of India. The unit linked as well as conventional plans. Under conventional plans the insurer has to pay the assured sum of money where as in unit-linked insurance, on the other hand, there is no assurance, and only promises of high returns are given
Characteristics of jeevan saral:
1. It provides high risk at low premium.
2. It is facilitated with smoother returns and posses lot of flexibility.
3. It also offers optional higher cover available through Term Riders.
4. It provides Periodical Guaranteed cash back offer and you can returns of premium along with Loyalty Additions.
5. Policyholder has the option to select a maximum term but can be surrendered at any time.
This plan provides many essential benefits by which you can secure your future. This plan provides many benefits for the policyholder also after his / her death.
This plan has several age limits
Minimum age limit for this plan is 12 years and maximum is 60 years.
Maximum maturity age is 70 years.
The minimum term of this plan is ten years and maximum is 35 years.
For age limit 12-49 the premium is 250/-p.m, Age limit of 50-60years minimum premium is 400/-per month and maximum premium is Rs 10,000 p.m.
In LIC Jeevan Saral the premiums can be paid in multiples of Rs. 50/- p.m.
The best feature is that child between ages 1 to 12 years are also eligible. The LIC jeevan saral offers high cover, smooth return and flexibility.
The is plan has several benefits:
The jeevan saral is a special plan having good features of conventional as unit linked plan. It provides several benefits to policyholder
1. Smooth returns
2. Higher cover
3. It provides lot of flexibility.
The unit linked plans as well as conventional linked plan are two types of plan by life insurance Corporation of India. The unit linked as well as conventional plans. Under conventional plans the insurer has to pay the assured sum of money where as in unit-linked insurance, on the other hand, there is no assurance, and only promises of high returns are given
Characteristics of jeevan saral:
1. It provides high risk at low premium.
2. It is facilitated with smoother returns and posses lot of flexibility.
3. It also offers optional higher cover available through Term Riders.
4. It provides Periodical Guaranteed cash back offer and you can returns of premium along with Loyalty Additions.
5. Policyholder has the option to select a maximum term but can be surrendered at any time.
This plan provides many essential benefits by which you can secure your future. This plan provides many benefits for the policyholder also after his / her death.
This plan has several age limits
Minimum age limit for this plan is 12 years and maximum is 60 years.
Maximum maturity age is 70 years.
The minimum term of this plan is ten years and maximum is 35 years.
For age limit 12-49 the premium is 250/-p.m, Age limit of 50-60years minimum premium is 400/-per month and maximum premium is Rs 10,000 p.m.
In LIC Jeevan Saral the premiums can be paid in multiples of Rs. 50/- p.m.
The best feature is that child between ages 1 to 12 years are also eligible. The LIC jeevan saral offers high cover, smooth return and flexibility.
The is plan has several benefits:
1. Death benefit: in this plan 250 times the monthly premium along with Loyalty Additions are allocated in a lump sum on the death of life assured.
2. Maturity benefit: offers Maturity Sum Assured plus with Loyalty Additions is payable in a lump sum.
3. Paid up value: this value can be acquired by the policyholder if the policy is in force for three years and respectively premiums are paid in these three years.
4. Guaranteed surrender value: The policy can be surrendered after it has been in force for at least 3 full years. The Guaranteed Surrender value will be equal to 30% of the total amount of premiums paid excluding the premiums for the first year and all the extra premiums and premiums for accident benefit / term rider.
5. Supplementary benefit: These are the optional benefits that can be added to your basic plan for extra protection/option. An additional premium is required to be paid for these benefits.
2. Maturity benefit: offers Maturity Sum Assured plus with Loyalty Additions is payable in a lump sum.
3. Paid up value: this value can be acquired by the policyholder if the policy is in force for three years and respectively premiums are paid in these three years.
4. Guaranteed surrender value: The policy can be surrendered after it has been in force for at least 3 full years. The Guaranteed Surrender value will be equal to 30% of the total amount of premiums paid excluding the premiums for the first year and all the extra premiums and premiums for accident benefit / term rider.
5. Supplementary benefit: These are the optional benefits that can be added to your basic plan for extra protection/option. An additional premium is required to be paid for these benefits.
6. Accidental Death and Disability Benefit: On death arising as a result of accident an additional amount equal to the Accident Benefit Sum Assured is payable.
The following disabilities due to accidents are covered:
Amputation of both hands at or above the wrists
Irrevocable loss of the entire sight of both eyes
Amputation of both feet at or above ankles
Accident arising from employment in armed forces or military services or police organization
Accident resulting from committing any breach of law
Injuries resulting from riots, civil commotion, rebellion, war, invasion, hunting, mountaineering, steeple chasing or racing of any kind
No benefit will be paid in case of accidental death or disability due to accident in case of
Intentional self injury, attempted suicide, insanity or immorality or if the life assured was under influence of intoxicating liquor, drug or narcotic, at the time of accident.
Loan is permissible under the policy after it requires a paid up value. At present, the rate of interest is 10.5% p.a compounding half yearly.
A grace period of 1 month but not less than 30 days will be allowed for payment of yearly, half yearly or quarterly premiums. If the policy not paid before the expiry of the days of grace, the Policy will be lapsed.
Mode rebate: 2% for yearly mode and 1% for half yearly mode. There are no rebates for quarterly and SSS mode.
Amputation of both hands at or above the wrists
Irrevocable loss of the entire sight of both eyes
Amputation of both feet at or above ankles
Accident arising from employment in armed forces or military services or police organization
Accident resulting from committing any breach of law
Injuries resulting from riots, civil commotion, rebellion, war, invasion, hunting, mountaineering, steeple chasing or racing of any kind
No benefit will be paid in case of accidental death or disability due to accident in case of
Intentional self injury, attempted suicide, insanity or immorality or if the life assured was under influence of intoxicating liquor, drug or narcotic, at the time of accident.
Loan is permissible under the policy after it requires a paid up value. At present, the rate of interest is 10.5% p.a compounding half yearly.
A grace period of 1 month but not less than 30 days will be allowed for payment of yearly, half yearly or quarterly premiums. If the policy not paid before the expiry of the days of grace, the Policy will be lapsed.
Mode rebate: 2% for yearly mode and 1% for half yearly mode. There are no rebates for quarterly and SSS mode.
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