Saral Jeevan Bima Yojana: As you, all know Saral Jeevan Bima Yojana has been started by the Insurance Regulatory and Development Authority of India. Under this scheme, life insurance will be provided to the beneficiaries with simple terms and conditions. The beneficiary has to pay the premium monthly, quarterly, 6 months, and 1 year to avail of the benefits of this scheme. The minimum premium amount is ₹1000. Surrender can also be done by the beneficiary within 6 months of purchasing the Saral Jeevan Bima Yojana policy. A special feature of this scheme is that a 100% return will be provided on the purchase price under this scheme.
Saral Jeevan Bima Yojana 2025
The amount of cover under Saral Jeevan Bima Yojana will range from ₹ 500000 to ₹ 2500000. There will be different types of premiums under the Saral Jeevan Bima Yojana. A beneficiary can buy life insurance according to his financial condition. The minimum age for taking a life insurance plan is 18 years and the maximum age is 65 years. The maximum maturity age allowed under this scheme will be 70 years. There will be three premium payment options under Saral Jeevan Bima Yojana which will be regular premium, limited premium payment term for 5 years and 10 years, and single premium.
There will also be a waiting period of 45 days from the inception of the policy. In these 45 days, the policy will only cover death due to an accident. The term of this policy will be from 4 to 40 years. There are many conditions in life insurance offered by insurance companies. Because of this people do not buy life insurance. Keeping this in mind, the Insurance Regulatory and Development Authority of India has started Saral Jeevan Bima Yojana. Today we are going to provide you with all the important information related to this scheme through this article. Such as what is Saral Jeevan Bima? its purpose, features, benefits, eligibility, application process, etc. So friends, if you want to get all the important information related to this scheme, then you are requested to read this article till the end.
Saral Jeevan Bima Yojana Online 2025 Details
| Scheme Name | Saral Jeevan Bima Yojana |
| Who launched | Insurance Regulatory and Development Authority of India |
| year | 2025 |
| Category | Sarkari Yojana |
| purpose | Providing simple insurance cover. |
Benefits under LIC Jeevan Saral plan
Death Benefit: If the policyholder dies during the policy term, the nominee will get,
- Sum Assured (i.e. 250 times the monthly premium) +
- Payment of premium paid in addition to first year’s premium and rider/additional premium paid
- Loyalty Addition (if any)
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Maturity Benefit: On maturity of the policy, the policyholder gets,
- Maturity Sum Assured (depends on entry age and policy term of the policyholder) +
- Loyalty Additions (if any)
Income Tax Benefit: Every year life insurance deduction of Rs. Premiums paid up to Rs 1,50,000 are exempted under section 80C of income tax. Death benefits and maturity benefits are also tax-free under section 10(10D) of Income Tax.
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LIC Jeevan Saral Plan Rules
The Insurance Regulatory and Development Authority of India has asked to launch a life insurance scheme. Under this scheme, insurance companies have been allowed to decide the amount of premium at their own level. Saral Jeevan Bima Yojana 2025 has been launched in view of the low interest of policyholders toward life insurance plans. Under this scheme, the objective has been set to cover a maximum number of people under the insurance policy. Life cover will be provided to the beneficiary under this scheme. If the beneficiary dies, the amount of Kanwar will be given to the nominee. In today’s time, there is a lot of runaway life.
Due to this people do not have enough time to read the terms and conditions of the policy. In this situation, people fall for the words of the insurance agent. The lengthy terms and conditions have been simplified under this scheme and not many terms and conditions have been kept. Suicide is not covered under this policy. Apart from this, there is no provision for any gender, place of residence, travel, business, or educational qualification to buy this life insurance.
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Features of Saral Jeevan Bima Yojana
- Life cover is provided to the beneficiary under this scheme.
- After the death of the beneficiary, the amount of life cover is given to the nominee.
- The amount of cover under this plan ranges from ₹500000 to ₹2500000.
- Under Saral Jeevan Bima Yojana, the insurance company has been allowed to decide the amount of premium according to its own.
- Under this scheme, the beneficiary can buy life insurance according to his financial condition.
- To buy this plan, the minimum age should be 18 years and the maximum age should be 65 years.
- The maturity age will be allowed under this scheme up to a maximum of 70 years.
- A waiting period of 45 days has been prescribed under Saral Jeevan Bima Yojana.
- During this 45-day waiting period, the policy will cover death due to an accident only.
- Under this scheme, the policy term has been kept from 4 to 40 years.
- This announcement has been launched by the Insurance Regulatory and Development Authority of India.
- This scheme will be started by all insurance companies from 1 January 2021.
- Simple terms and conditions have been kept under this scheme.
- Suicide is not covered under Saral Jeevan Bima Yojana.
- There is no provision for any gender, place of residence, travel, occupation, or educational qualification to buy this life insurance plan.
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The process to apply online under Saral Jeevan Bima Yojana
- First of all, you have to go to the official website of that insurance company
- Now the home page will open in front of you.
- On the home page, you have to click on the link for the insurance scheme.
- After this, you have to click on the link of Saral Jeevan Bima Yojana.
- Now you have to click on the button Apply Now.
- Now the application form will open in front of you.
- You have to fill in the information asked in the application form carefully.
- Now you have to upload all the important documents.
- After that, you have to click on the submit button.
- In this way, you will be able to apply under this scheme.
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Process of applying offline under Saral Jeevan Bima Yojana 2025
- First of all, you have to go to the office of the insurance company from where you want to buy the Saral Bima Yojana.
- Now you have to take the application form for Saral Bima Yojana.
- You have to fill out this application form carefully.
- After this, you have to attach all the important documents.
- Now you have to submit this application form to the office of the insurance company.
- In this way, you will be able to apply under this scheme.
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FAQ’S
What is Saral Jeevan Bima Yojana?
Saral Jeevan Bima Yojana is a standard life insurance policy introduced by the Insurance Regulatory and Development Authority of India (IRDAI). It provides a simple, affordable, and standardized term life insurance plan with basic features, making it accessible for individuals without complex requirements.
Who is eligible to apply for Saral Jeevan Bima Yojana 2025?
The eligibility criteria include: Minimum age: 18 years. Maximum age: 65 years. Indian residents only. No restrictions based on occupation, income, or educational qualifications.
What is the policy term for Saral Jeevan Bima Yojana?
The policy term ranges from 5 to 40 years, depending on the policyholder’s choice.
What is the sum assured under Saral Jeevan Bima Yojana?
The minimum sum assured is ₹5,00,000, and the maximum sum assured is ₹25,00,000. The policyholder can choose the coverage amount based on their needs and affordability.
Are there any exclusions under the policy?
Yes, the policy has a suicide exclusion. If the policyholder commits suicide within 12 months from the date of policy commencement, only 80% of the premium paid is refunded.
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