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 As the plan was withdrawn from the sale, you cannot purchase it anymore.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.

Read complete details of Jeevan Saral Plan.

LIC’s Jeevan Saral (Plan 165) – Key features

• The policyholder can choose the premium amount and Maturity Sum Assured as well as Death Sum Assured is subsequently determined based on the premium selected 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).

Loyalty Addition Rates of Jeevan Saral Plan

As Jeevan Saral was introduced eighteen years back, LIC has declared the loyalty addition rates up to 18 years of term. For terms up to 18 years declared loyalty addtion rates are used.

In order to get an idea of the plan more than 18 years term, extrapolation of the loyalty addition rates using the ‘trends’ function was done and the obtained values are used for the calculation. Please note that the rates calculated using extrapolation is not guaranteed and are used just to get an indicative figure.

Jeevan Saral – Maturity benefit vs age at entry.

One of the biggest difference of the plan compared to other endowment type plans is that the maturity sum assured and age at entry are inversely proportional. As age at entry increased the maturity sum assured comes down. So this plan becomes more attractive to lower age group on an investment angle of view.

The chart shown above gives an idea on the relationship between age and maturity sum assured.

Read More: LIC’s Jeevan Saral (Plan 165) – Complete details with illustrations and examples