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LIC Saral Jeevan Bima Plan
The Saral Jeevan Bima Plan is a non-linked non-participating individual pure risk term life insurance plan, which pays out to the policy holder's dependents the entire sum assured, in case of the death of the insured person within the policy term.
| Eligibility Conditions & Restrictions | ||
|---|---|---|
| Minimum age | : | 18 Years completed |
| Maximum age | : | 65 years |
| Policy Term | : | 5 years to 40 years |
| Minimum Sum Assured | : | Rs.5,00,000 |
| Maximum Sum Assured | : | Rs.25,00,000 |
| Premium payment | : | Single Premium, Regular Premium |
| Loan | : | No loan will be permitted against the policy |
| Surrender | : | No surrender value within this policy |
| On Death | : | For the Single-premium policy: Higher of 125 percent of the single-premium and absolute amount assured that will be paid upon the demise |
| On Maturity | : | No maturity benefit under this policy |
| Income Tax Benefit | : | Premium paid are eligible for Tax rebate u/s 80c |
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