LIC Jeevan Saral is a simple term insurance plan that provides financial protection for your family in case of your untimely demise. The plan offers a death benefit that is equal to the sum assured, along with vested simple reversionary bonuses, if any.
Key Features:
- Death Benefit: In case of the policyholder's death during the policy term, the sum assured, vested simple reversionary bonuses, and final additional bonus, if any, are payable to the nominee.
- Maturity Benefit: If the policyholder survives the policy term, the maturity benefit is zero.
- Simple Reversionary Bonuses: Simple Reversionary Bonuses are declared periodically by LIC based on the plan's performance. These bonuses are added to the policy and earn further bonuses.
- Final Additional Bonus: A final additional bonus may be payable at the time of death, depending on the plan's performance.
- Tax Benefits: Premiums paid towards the policy are eligible for tax deduction under Section 80C of the Income Tax Act, 1961.
Eligibility:
- Age: The policyholder's age must be between 18 and 50 years.
- Policy Term: Policy term options are 10, 15, 20, 25, or 30 years.
Benefits:
- Death Benefit: The death benefit is equal to the sum assured, which is the amount you pay for the policy. For example, if you buy a policy with a sum assured of ₹10 lakhs, your nominee will receive ₹10 lakhs in case of your death.
- Simple Reversionary Bonuses: Simple Reversionary Bonuses are declared on a yearly basis, and the amount will vary depending on the performance of the plan. These bonuses are added to the policy and earn further bonuses.
- Final Additional Bonus: A final additional bonus may be payable at the time of death, depending on the plan's performance.
- Tax Benefits: Premiums paid towards the policy are eligible for tax deduction under Section 80C of the Income Tax Act, 1961.
Documents Required:
- Proof of identity and address: PAN card, driving license, voter ID, or other acceptable documents.
How to Apply:
You can apply for LIC Jeevan Saral plan online or through a LIC agent.
Here are the steps on how to apply online:
- Visit the LIC website.
- Click on the "Buy Online" tab.
- Select "LIC Jeevan Saral" from the list of plans.
- Enter your details and contact information.
- Select your preferred mode of premium payment.
- Review and submit the application form.
Here are the steps on how to apply through a LIC agent:
- Contact a LIC agent.
- Provide the agent with your details and contact information.
- The agent will assist you in completing the application form.
- Submit the application form and make the premium payment.
If you are looking for a simple and affordable term insurance plan, LIC Jeevan Saral is a good option. The plan provides a death benefit that can help to provide financial security for your family in case of your untimely demise.
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