How is maturity amount calculated in LIC Jeevan Saral?
Ans: LIC Jeevan Saral policy maturity amount is equal to the sum assured plus loyalty additions.
How is Jeevan Saral 165 plan calculated?
LIC’s Jeevan Saral (Plan 165) – Key features Death coverage shall be the sum of, 250 times the monthly basic premium (Death Sum Assured) + Premium paid (excluding the first year premium and rider premiums.) + Loyalty Additions (if any).
What is the surrender value of Jeevan Saral after 10 years?
Guaranteed Surrender Value: Guaranteed Surrender value is equal to 30% of the total amount of premiums paid excluding the premiums for the first year and all the extra premiums. Special Surrender Value: 80% of Maturity Sum Assured if you have paid premiums for 3 or more years but less than 4 years.
Is there any bonus in Jeevan Saral?
Certain plans like Jeevan Shree (151) and Jeevan Saral (165) have a specialized bonus structure. For such plans, no simple reversionary bonuses are declared. Instead, a one-time bonus with the name Loyalty Addition (LA) becomes payable for the policy at the time of maturity as per the valuation of the plan.
What is the benefit of Jeevan Saral plan 165?
The plan provides financial protection against death throughout the term of the plan. The death benefit is directly related to the premiums paid. The Maturity Sum Assured depends on the age at entry of the life to be assured and is payable on survival to the end of the policy term.
Is Jeevan Saral 165 a good policy?
As a non-unit linked insurance plan LIC Jeevan Saral is one of the most beneficial endowment plans that provide a lump sum amount of 250 times the premium paid. It provides the dual benefit of protection cum saving.
What is the bonus rate of LIC Jeevan Saral?
LIC’s Jeevan Saral – Loyalty addition rates 2021-22 (2021 March Valuation) Jeevan Saral (Plan 165) has been a very popular plan from the LIC of India. This Year LIC has declared the loyalty addition rates for the 19-year term also and the rate ranges from 670 to 930 as per the monthly premium band.
What is return on Jeevan Saral?
Special Surrender: 80 percent of Sum Assured after the completion of 3 years but not 4 years with all premiums paid. 90 percent of Sum Assured after the completion of 4 or more years but less than 5 years with all premiums paid, and 100 percent of the Sum Assured if the premium is paid for 5 years or more.
Why Jeevan Saral is closed?
Life Insurance Corporation of India’s (LIC) Jeevan Saral, withdrawn in 2014, was in the news recently after a PIL was filed in the Supreme Court , alleging that LIC had mis-sold the product by misleading policyholders. The apex court made it clear it was not expressing any opinion on the merits of the case.