LIC Saral Jeevan Bima (Plan No. 859)


Like the name itself, the LIC Saral Jeevan Bima Plan is introduced to make your life simple. It is a standard plan which is kept very basic for the policyholders. It is a non-linked, non-participating individual pure risk premium life insurance plan.

This policy will be providing a basic lump sum amount to the nominee should the policyholder dies during the term of the policy.

Key features of the plan

The Saral Bima Policy comes in with a lot of attractive features that are incredibly basic and simple for any individual. Some of them are listed below:

  • The policy will be open to anyone without having restrictions on gender, travel, occupation, and location or educational background.
  • The premium will differ from person to person based on age, income, gender, etc.
  • No additional riders will be provided apart from the ones already mentioned under the policy.
  • One can invest in the policy through offline or online modes.
  • There are three modes of premium payment available

Benefits under the plan

The Saral Jeevan Policy brings a lot of benefits for the insured. Some of which are mentioned below:

  • Death benefit – For Single Premium payment, 125% of the single payment will be awarded to the nominee with the demise of the policyholder

For limited and Regular premium payment, the highest of 10 times of the annual payable will be awarded. OR 105% of the paid premiums as per the date of demise will be payable.

  • Maturity Benefit – No maturity benefit will be provided under this policy. The only benefit will be at the time of demise.
  • The company adheres to Section 80 C and 10 D under the Income Tax Act 1961

Parameters of the LIC Saral Jeevan Bima

To avail of this policy, individuals need to meet certain criteria. They are listed below:

Minimum entry age 18 years
Maximum entry age 65 years
Policy Term 5-40 years
Minimum maturity Age Nil
Maximum maturity Age 70 years
Minimum sum assured Rs. 5 lacs
Maximum sum assured Rs. 25 lacs – unlimited
Premium Payment modes Single Payment, Regular Payment and Limited payment


Additional Benefits

Apart from the existing major benefits under the plan, it comes with several additional benefits which the policyholder may find attractive

  • Rebate
  • Payment Modes- Available Payment Modes under this plan are: Single-premium payment, Regular Premium Payment and Limited Premium Payment which is for 5-10 years
  • Warning period – There is a warning period of 45 days from the date of commencement of the risk. Coverage due to death by accident within the warning period is applicable through this policy. In case the policyholder dies due to an accident, the company will pay 100% of the premiums to the nominee. This will not include taxes
  • Policy Cancellation Value- Cancellation Value will be paid in two cases. (i) When the policyholder pays an equivalent before the date of maturity. It will only apply in the case of a single premium payment. (ii) In case of a limited premium payment policy and if it has not been revived, the cancellation amount will be payable if the policyholder applies for an equivalent amount before the maturity date or by the end of the revival term.


Only one exclusion is applicable in this plan that is if the policyholder commits suicide within the first 12 months from the beginning of the issuance. The company then will not be liable to pay any attention to the claim. However, it will pay back 80% of the premiums paid exclusive of the tax.

Optional Riders

The riders that can be added with the basic coverage include:

  • Accidental Benefit Rider – if the policyholder passes away due to an accident during the policy term, then the company will pay an additional sum over the sum assured
  • Permanent Disability Rider- If the policyholder suffers a permanent disability due to an accident, then he or she is liable to get an additional amount over the sum assured.


To enrol under this plan, the individual needs to provide some documents to the company:

  • Address Proof- Aadhar Card, Passport, Pan Card or Driving Licence
  • Passport-sized photos
  • Contact number
  • Identity Proof- Aadhar card, Voter Id Card, Pan Card, etc

Why should you buy this policy?

There are millions of reasons to buy insurance. Mentioned below are the reasons you should buy the LIC Saral Jeevan Bima:

  • Standard insurance policy. Hence does not require much thought.
  • Basic words.
  • Easy and elementary to understand

How to attain this policy offline?

To invest in the policy offline, follow the steps mentioned below:

  • Visit the nearest LIC Branch
  • After educating yourself with the plan, fill up the Application Form
  • Provide details like gender, income, birth, etc.
  • Carry and attach the mentioned documents.
  • Submit the application form along with the documents.

If necessary follow the guide or a LIC agent will guide you through the process.


  1. Does Loyalty Addition apply to this plan?

No, Loyalty addition is not payable under this plan

  1. Can I get loans against this policy?

No loan will be eligible under this policy

  1. How much is the Sum Assured for this plan?

5 lakh minimum is payable as the sum assured

  1. How do I update my email id?

Visit click on Merchant portal under ‘online services’. Login to the portal and click on ‘update email id to get otp’. Input your user id, password and new email id and click on ‘update’

  1. How can I pay my premiums?

You can pay them annually, semi-annually, quarterly and monthly in case of, Regular Payment and Limited payment. Or you can do a Single Payment

  1. How much is the surrender value against this policy?

There is no surrender value payable by the company

  1. Is there a warning period if I don’t pay my premiums

Yes, there is a warning period of 45 days from the date of commencement of risk

  1. How do I buy this policy online?

Visit click on the ‘Saral Jeevan bIma’ link and then ‘apply online’ on the application page. You will get the form. Fill it up with the necessary details and click on submit

  1. How much Maturity Benefit will I receive under this policy?

No Maturity Benefit is available under this policy

  1. What documents do I take with me to register for this plan?

Take along your address proof such as Driving Licence

2 Passport-sized photos

Identity Proof like Aadhar card, Voter Id Card, Pan Card, etc

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