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Plan No. 859Pure Term Insurance
LIC's Saral Jeevan Bima
"Standardized term insurance for everyone."
A standard individual term life insurance product mandated by IRDAI to provide basic protection.
Key Features
- ✓Standardized terms across all insurers.
- ✓Pure risk cover.
Eligibility Criteria
Minimum Age18 Years
Maximum Age65 Years
Minimum Term5 Years
Maximum Term40 Years
Min Sum Assured₹ 5,00,000
Max Sum Assured₹ 25,00,000
Plan Benefits
Death Benefit
Sum Assured on Death.
Survival Benefit
N/A
Maturity Benefit
N/A
Real-World Example
Profile30-Year-Old Male
Sum Assured₹ 25,00,000
Term Details20 Years
Annual Premium₹ 4,500 / Year
Expected ReturnsN/A
How it Works
An extremely affordable, standardized basic term policy. Pays ₹ 4,500 a year. If he passes away, the family receives ₹ 25 Lakhs. No confusion, no hidden clauses.