Who it suits
First-time buyers who want a straightforward, no-frills term cover.
LIC plans / Term Assurance Plans
Term Assurance Plans
New Plan no. 859 UIN 512N341V01
LIC’s Saral Jeevan Bima
Non-par · Non-linked · Standard pure term
A simple, standard term plan with the same basic features across insurers, with level or increasing cover.
Regular, or limited (5 or 10 years)Premium paying term
See the official brochure for the exact benefit formula.Sum assured
Plan highlights
What this plan gives you
The main features in plain words. The official brochure is the final word on every figure.
- Standard, simple terms
- Level or increasing cover
How it works
Choose level or increasing sum assured; limited premium can be 5 or 10 years.
Death benefit
Sum assured as chosen.
Maturity benefit
None.
Survival / income benefit
None.
Options and riders
Level or increasing sum assured
Step by step
How the plan runs
1
Start the planSum assured: See the official brochure for the exact benefit formula..2
Pay premiumsRegular, or limited (5 or 10 years)3
Income during the termNone.4
Receive the benefitNone.At a glance
Eligibility and plan limits
A quick reference before you discuss a proposal. Underwriting and channel conditions apply.
| Plan detail | As per summary |
|---|---|
| Plan number | 859 |
| UIN | 512N341V01 |
| Category | Term Assurance Plans |
| Plan type | Non-par · Non-linked · Standard pure term |
| Premium paying term | Regular, or limited (5 or 10 years) |
| Sum assured | See the official brochure for the exact benefit formula. |
Important details
Policy conditions that apply to most LIC plans
Know the conditions, not just the headline.
Grace period
30 days for yearly, half-yearly and quarterly premiums; 15 days for monthly. Cover continues during this time.
Free look
30 days from receiving the policy document to return it if you do not agree with the terms.
Revival
A lapsed policy can usually be revived within 5 years of the first unpaid premium, with arrears, interest and proof of good health.
Suicide within 12 months
If it happens within 12 months of the start of cover, the nominee receives 80% of premiums paid (policy in force).
Section 45
After three years a policy cannot be questioned except for proven fraud.
Quick answers
Questions families ask
Who is this plan for?
First-time buyers who want a straightforward, no-frills term cover.
What are the policy term and premium paying term?
Premium paying term: Regular, or limited (5 or 10 years).
What sum assured can I choose?
See the official brochure for the exact benefit formula.
What happens if the life assured dies during the term?
Sum assured as chosen.
What do I receive at maturity?
None.
Does the plan pay anything during the term?
None.
Are there options or riders?
Level or increasing sum assured
Will the amounts always be paid exactly as shown here?
This page is a summary. Actual benefits depend on the policy terms, premium payment status, the options chosen, underwriting and LIC’s official benefit illustration. The official brochure is the final word.
Want this explained in plain words?
Read LIC’s official brochure, compare the options, and I will help you choose what fits your family.
This page is a summary. Benefits, eligibility and premiums can change: the official LIC brochure for the plan is the final word, and I will confirm current terms for you.