LIC Jeevan Saral Policy
"By Authorised Agent"
LIC Monthly recurring deposit plan

What is Jeevan Saral Plan ?

LIC Jeevan Saral is an exclusive plan by Life Insurance Corporation of India table 165 having excellent features of the traditional plans and the flexibility of ULIP plans. As you have an option to pay premium monthly direct debit from your bank account many people call it as monthly recurring Life Insurance Plan by Lic of India. As this is a insurance cum investment plan where the nominee get maturity sum assured of that year plus entire premium paid plus loyalty additions if any in case of unfortunate death of the policy holder.

This guide contains ....

Plan Features
Age Eligibility
Maturity Chart
ATM Plan
Online Payment
Matuirty Sum Assured
Premium Calculator
Benefit Illustration
Policy Review

Plan Features

  • Higher risks cover at minimal premium.
  • Extended life insurance cover for one year after three years premium payment.
  • Optionally available increased risk cover by way of Term Riders.
  • The insurance policy holder can select a highest possible term but can surrender whenever they want with no surrender penalty or loss right after 5 years.
  • Any number of withdrawals by way of partially surrendering the policy.
  • A smooth earnings on his investment & lots of flexibility.


  • As mentioned above , being monthly ECS premium payment option , that is LIC monthly recurring kind scheme.
  • The amount policyholder going to receive at the end of the term after payment of all premiums is tax Free under section 10-10d of income Tax act.
  • You can partly surrender the policy and make unlimited withdrawals through partial surrendering after 5 years.
  • The premium amount paid to LIC is exempted under section 80c of income Tax act.


As per the rules with regards to this plan express that, minimal age at the time of taking policy needs to be 12 years, highest possible age must be 60 years. Maximum maturity age needs to be 70 years.

Maturity Chart

That is benefit illustration chart showing maturity sum assured of every year and estimated loyalty additions. You can compare the benefits for perticular premium budget. You will come to know the natural death cover, accident death cover, guaranteed maturity amount of specific year and estimated surrender value or maturity value for scenario one and two i.e. 6% and 10% respectively. This is to note that maturity benefits varies for every age. For example the maturity / surrender value for 30 years old person after 10 years policy term is not same for 35 years old person. Read more

ATM Plan

Most of the people call this as "ATM Plan" that may be because of its flexibility. That is not the name of the plan and policy holder is not given any ATM card which can be used to withdraw money from his policy account. Please confirm with nearest LIC branch office if any sales person told you like that. As per the rules policy owner can surrender this policy withour penalty fully or partially after five years.

Online Payment

You have an option to choose the premium payment mode e.g. monthly , quarterly, half yearly and yearly. You can go for monthly deduction from your salary also (SSS- Salary Saving Scheme). Single premium mode is not available in the plan. If you select monthly mode or SSS , you wont be able to pay premium online on internet. In case of ECS dishonoured , you have to pay cash. Cash premium can be paid on LIC counter in any branch , lic authorised premium collection center i.e. "premium point". Quarterly , half yearly and yearly premium can be paid by cheque or DD or online on internet using net banking.

Maturity Sum Assured

Maturity Sum Assured is a certain amount payable at the end of the policy term. Nearly 10 years the assured amount payable on surrender is less than the entire premium paid. Earnings are varied and depend upon loyalty additions (bonuses). Basic sum assured or life cover will be 250 times of your monthly premium selected. Know more

Premium Calculator

There is no need to caluelate the basic premium as it is same for all. Only in case of medical tests there may be some extra premium. Also if you opt any rider like double accident benefit or term rider , the additional premium will be added to your basic premium. premium calculator is available on

Benefit Illustration

Age at the time of taking policy: 35 years
Insurance policy period: 25 years
Mode of premium payment: Yearly
Amount of yearly premium: Rs.4704=00
Guaranteed amount at the end of policy year 25 Rs. 215200=00 plus loyalty additions between Rs. 65000=00 to Rs. 211000=00.
What the policy holder will get after 25 years will be between Rs. 280200=00 to Rs. 426200=00
i) This example is suitable to a non-smoker male/female normal (from health, style of living and work point of view) life.
ii) The most important purpose of the example is that the customer is in the position to understand the top features of the plan and the flow of benefits in a variety of situations with some level of quantification.
iii) Loyalty bonus extras will depend upon upcoming profits and therefore is not assured.
iv) The Maturity Benefit is the total displayed by the end of the policy period.


A customer review is the term for a review provided by the person who owns a product or service or the consumer of a service who has adequate knowledge to discuss trustworthiness and whether or not the product or service offers on its claims, or else known as reviews. A professional evaluation generally is the term for a review created by somebody who has tested several services to determine which plan is the best for investment and insurance. Please visit this page to read reviews posted by visitors.


Common Queries

Hi, my age is 35. I took this policy previous year, with a monthly premium of Rs. 1500. As mentioned in the chart pdf showed by LIC agent, if I surrender the policy after 25 years, I will get Rs. 20 lakh as a surrender or maturity amount. Please let us know your views on this. What is the probable loyalty addition after 15 years? The chart indicates a 10% internal rate of return. Is this sensible? Pradip K - Mumbai - AUGUST 25, 2013 AT 09:21 PM
Reply: This is an endowment assurance plan. The loyalty addition is not assured but may be payable from the 10th year onwards depending on LICís future performance. The expected investment return of 10% is not guaranteed. I advise you to read & understand the benefits of the plan before buying the policy.

I am a 28 and want to know if it is worth investing in LICís Jeevan Saral policy. I want to know: - 1. Is the claim of insurance at 250 times premium as told by agent is realistic? In this plan, the nominee will be paid the total of Sum assured , All premiums paid excluding first year and loyalty bonus if any in case of death of the policy holder 2) Are the returns guaranteed, like in a recurring deposit? 3) What are the returns from LIC in case the policy is surrendered before maturity? Anil Joshi - Pune - AUGUST 21, 2013 AT 01:21 AM
Reply: The returns are not assured as such, but the same are not market linked too. The funds shall be invested as per the IRDA norms, in which the funds primarily invested in government securities comprising more than 50% and the balance in approved investments. You can expect a debt sort of returns from this plan. The policy shall be considered to have matured in case of premature withdrawal or surrender anytime after five-year term. Dissimilar to other traditional LIC plans, there is no surrender penalty or charges in this plan.

I have taken a Saral LIC policy. But, after a short time I cancelled the policy. Will I get my money back? Is there any provision in the LIC Act to get back the premium paid? Archana - Pune - AUGUST 15, 2013 AT 10:45 AM
Reply: The policy can be surrendered after it has been in force for as a minimum three full years however some surrender fee will be applicable if you surrender your policy before the completion of five years. There is no penalty if you surrender after 5 years, you get 100% of the maturity sum assured corresponding to the term for which premiums have been paid under the policy.

I have taken LIC Jivan Saral policy in August 2008 and I am paying a premium of Rs 4900 per month. I was promised maturity proceeds of Rs 25 lakh at the end of 15 years by my agent. Does LIC pay such high bonuses? My purpose to invest in Jiwan Saral was only for my daughterís higher education. Abhijeet - Thane - AUGUST 11, 2013 AT 08:29 PM
Reply: Jeewan Saral is an endowment assurance plan. Some benefits are guaranteed and some are variable with returns based on LICís future performance. Loyalty addition is not assured in this plan but may be payable from 10th year onwards. If you assume a LA of 6% per annum, you can get Rs 12,00,000 on maturity after 15 years. Bearing in mind your investment perspective, I would advise you to invest in diversified equity mutual fund scheme through Systematic Investment Plan for your childís higher education. You also can buy a term insurance plan to complete your insurance need.

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Loyalty Additions:

This is certainly a with-profits plan and takes part in the profits of LIC's life insurance business. It gets a share of the income by means of loyalty additions that are terminal additional bonuses payable together with death benefit or maturity benefit. Loyalty Additions could possibly be payable in the tenth year onwards based upon the performance of corporation.

Premium Mode

Premiums are payable annually, half-yearly, every quarter, or per month through salary deductions as decided by you all over the term of the plan or till death of the policyholder.


This website is for plan overview presenting the key options of the plan. This is made for illustrative purpose only. It doesn't stand for a agreement and for information please refer to your policy papers.