LIC Jeevan Saral (Plan 165) – Details, Calculators, Review and Illustrations
LIC Jeevan Saral (Plan 165) – Details, Calculators, Review, and Illustrations. Jeevan Saral (plan 165) is one of the most ‘flexible’ and ‘feature rich’ conventional endowment type plan ever launched by LIC of India. Due to the high flexibility, it offers to the customer, it is often referred to as a conventional plan, with the flexibility of Unit Linked Plans. High insurance coverage and liquidity are the highlights of the plan.
LIC 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).
Please Note: LIC’s Jeevan Saral plan was withdrawn from sale with effect from 31/12/2014. And hence 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.
LIC Jeevan Saral (Plan 165) – Eligibility conditions and Restrictions
LIC’s Jeevan Saral (Plan 165) – Eligibility conditions and restrictions | ||
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Condition | Minimum | Maximum |
Age at entry | 12 years (completed) | 60 Years (nearer birthday) |
Term of the plan | 10 years | 35 years |
Premium | Rs 250/ month (entry up to 49 years) | No Limit |
Rs 400/ month (50 years and above) | ||
Accident benefit rider (Age allowed) | 18 years (completed) | 60 Years (nbd) |
Term Rider | 18 Years (completed) | 50 Years |
www.insurancefunda.in |
LIC Jeevan Saral (Plan 165) – Premium and Benefit Calculator
Premium and Benefits Calculator for LIC Jeevan Saral is a powerful tool to understand all the benefits of the plan in a simple and comprehensive way. You can provide parameters such as age, basic monthly premium, riders etc based on your own needs to get all the details of the plan including, insurance coverage surrender value maturity benefit etc. This online calculator can be used in mobile platforms also and do not need any installations.
If you cannot view the calculator here click the link provided below to open LIC Jeevan Saral ( Plan 165) Premium and Benefit calculator.
Loyalty Addition Rates – LIC Jeevan Saral
As per the latest 2019 march valuation, LIC has declared the loyalty addition rates up to 18 years term for Jeevan Saral Plan. The latest loyalty addition rates are provided in the chart given below.

From the above chart, we can see that the loyalty additions rates for the Jeevan Saral has increased in the current valuation compared to the previous valuation.
Extrapolation to predict future loyalty rates
LIC has so far declared the loyalty additions rates for Jeevan Saral plan up to 18 year term only. But if we closely observe the declared rates we can see that it is following a linear pattern. I have extrapolated the declared values to get the future loyalty addition rates.

Please note that these rates are not guaranteed and the actual rates declared by LIC can vary in the future. You can use the calculator provided above to find out indicative maturity values using
LIC Jeevan Saral (Plan 165) – Maturity Sum Assured Vs Death Sum Assured
Generally in Endowment Assurance type of plans, Death Sum Assured will be equal or a multiple of, maturity sum assured. But in Jeevan Saral plan Maturity Sum Assured and Death Sum assured are entirely different entities. Death sum assured is defined as, 250 times basic monthly premium, whereas Maturity Sum Assured is calculated based on a table supplied by LIC of India. Maturity Sum Assured considerably varies depending on the age at entry. You can check the chart given below to understand the variation pattern of Maturity Sum Assured with age.

From the above chart, you may notice the fact that lower age group people will get more maturity benefit compared to higher age group whereas the premium paid and the death sum assured remains same for all.
LIC Jeevan Saral (Plan 165) – Surrender value
The surrender value of the Jeevan Saral plan is the higher of Guaranteed surrender value(GSV) and special surrender value (SSV) applicable at the time of surrender.
GSV = 30% of (total amount of premium paid – (First year premium and riders))
Special Surrender Value (SSV) = Accumulated value of the policy + Loyalty additions (If any)
LIC Jeevan Saral – Accumulated value chart | |
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Premium Paid Period | Value |
Less than 4 Year premium paid | 80 % of Maturity Sum Assured |
4 Year premium paid | 90% of Maturity Sum Assured |
5 or more year premium paid | 100% of Maturity Sum Assured |
LIC Jeevan Saral (Plan 165) – Example of benefits
In order to understand the plan better, let us consider an example of a person taking the Jeevan Saral Plan. Let the details of the person taking the plan will be as follows.
Details of the person considered for example | |||
---|---|---|---|
Age | 25 | Term | 18 Years |
Basic Monthly Premium | Rs.4000 | Death Sum Assured | Rs. 100,00,00 |
Double Accident Benefit | Opted | Income Tax Slab | 30 % |
Premium and Maturity Benefits of the proposed plan is given below.

Complete benefits including insurance coverage and surrender value of the proposed example will be as shown below.

The Maturity Sum Assured of the plan is considerably higher, when compared to the premium paid, for the younger age group. In this example, you can see that the maturity sum assured is Rs. 9,77,120 whereas the total premium paid is just Rs. 6,05,304. LIC has declared loyalty addition rates up to th
The illustration shown here is based on the example considered. If you want to calculate the details based on your own details, use – Jeevan Saral – complete calculator.
If you have any doubts or require more clarifications, drop a comment on the ‘Comment’ section given below.
Read more:
- LIC Bonus Rates 2019 -20 – Everything you need to know
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Anish L J is a ‘Financial Planner’ and member of Chartered Insurance Institute(CII), London and Insurance Institute of India. He is also a finance, insurance and software consultant. He thoroughly follows the developments in finance, insurance, and other related sectors.