LIC Jeevan Saral – Plan 165 – Premium, Maturity and Benefits Calculator. Jeevan Saral (Plan 165) is a popular insurance plan with some special features which makes it one of the most flexible conventional insurance plan from LIC of India. As the plan was withdrawn from the sale, you cannot purchase it anymore. But all the policyholders who have purchased it before the withdrawal date will continue to enjoy the benefits of the policy.
As LIC’s Jeevan Saral (Plan 165) have a lot of specialized features, with are not available in any other endowment type plan, policyholders may find it difficult to understand the benefits properly. Jeevan Saral – Complete Calculator can help you to understand all the benefits of LIC’s Jeevan Saral plan, including maturity, insurance coverage, and surrender values.
LIC’s Jeevan Saral (Plan 165) – Key features
- The policyholder can choose his own premium amount and Maturity Sum Assured as well as Death Sum Assured is subsequently determined based on the premium paid by him.
- 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).
- Maturity amount of the plan shall be the sum of, the Maturity Sum Assured (which varies based on the age at entry and term of the plan) + Loyalty additions (if any).
- Complete or Partial surrender of the plan can be done any time after the completion of 3 years, provided, premiums have been paid for at least three full years.
- Auto cover shall be available for a period of 12 months if the policy has been in force for 3 or more full years. (Auto cover will not be available for rider benefits)
- Term Rider and Accident benefit rider available (based on certain conditions and restrictions).
LIC has declared loyalty addition rates up to the 17-year term as on date.