A review of LIC's Jeevan Saral

Insurance

oi-Sunil

By Sunil Fernandes

Updated: Friday, June 14, 2013, 11:49 [IST]

LIC Jeevan Saral is an endowment assurance plan where the insured can choose the amount and mode of premium payment.

The plan, like most traditional plans will provide financial protection against death throughout the term of the plan. The maturity sum assured is payable on survival to the end of the policy term. It also offers the flexibility of term and a lot of liquidity.

Premiums

Premiums of Jeevan Saral are payable like most other LIC schemes, which include yearly, half-yearly, quarterly, or monthly.

Loyalty Additions

This is a with-profits plan and participates in the profits of the Corporation's life insurance business. It gets a share of the profits in the form of loyalty additions which are terminal bonuses payable along with death benefit or maturity benefit. Loyalty Additions may be payable from the 10th year onwards depending upon the experience of the Corporation.

Withdrawal

Jeevan Saral allows partial surrender from 4th year onwards subject to certain conditions for which please refer to policy document.
Opinion

Jevan Saral is like any other endowment plan and has nothing extra ordinary. Insurance advisors would always recommend buying into term plans, which provide more protection than endowment plans. That's the best way to secure your family.

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