LIC JEEVAN SARAL (Table No. 165)

Benefits & Features

Eligibility & Premiums


Jeevan Saral policy comes with high risk cover and low premiums. This plan is also known as ATM Plan, one can withdrawal partial or full maturity amount after policy completing 10 years. LIC Jeevan Saral is composition of unique features with financial protection against death throughout the term of the policy. This Policy has minimum term period of 10 years and policy holder can still continue further if wishes. Death benefits is directly related to premiums and being a with profit plan, maturity benefit also includes loyalty additions, if any.

Following are the features of LIC Table 165:

  • Premium starts from Rs. 250 only
  • Full Maturity Sum Assured at surrender after 5 years premium payment
  • Loan against policy available after 3 years of premium payment
  • Pay premiums monthly, quarterly, half-yearly or yearly
  • Guaranteed Surrender Value after policy being in force at least for 3 years
  • Premiums paid are exempted from tax under Section 80 C
  • Maturity proceeds are exempted from tax under Section 10 (10D)
  • Death cover is same irrespective of age at entry and term
  • Flexibility of withdraw partial or full maturity amount any time after 10 years without any extra charges
  • Maturity benefit is maturity Sum Assured + Loyalty addition, if any
  • Death Benefit is 250 times of monthly premium + Total premium paid, less 1st year's premium & Extra premium paid + Loyalty Addition, if any payable in lump sum.


Maturity Benefits : Sum Assured along with bonus, if any, in lump sum.

Death Benefits : Sum Assured (250 times of monthly premium) plus premiums paid (excluding first year premium and extra premium) and loyalty additions, if any will be paid in lump sum.

Accident Benefits : No extra benefits other than death benefits. Insured can take riders in Jeevan Saral, please refer table below for details.

Policy Loan : Policy loan available.

Tax Benefits : Tax benefits on premium under section 80 C and maturity benefit under section 10 (10D) as per IT Act 1961.

Surrender Value : Surrender value will be 80% of Maturity Sum Assured if policy has completed 3 years, 90% of the Maturity Sum Assured if policy has completed 4 years and 100% of the Maturity Sum Assured if 5 or more years premiums have been paid. Maturity Sum Assured will be as per LIC.

Others Benefits : You may avail supplementary / extra benefits: by paying extra premium. Rider can be taken for one extra Sum assured for accidental death benefit (Refer chart below).


Minimum / Maximum Age 12 to 60 years
Maximum age of maturity (Life Assured) 70 Years
Minimum / Maximum Term 10 to 35 Years
Minimum / Maximum Sum Premium Rs. 250 /month for age up to 49 and Rs. 400 /month for age 50 & above.
Max No limit (Premium in multiple of Rs. 50 /month).
Premium Payment Yearly, Half Yearly, Quarterly, Monthly
Jeevan Saral Chart

Benefits Illustration:

Jeevan Saral plan has many distinctive features. It is a great combination of risk cover and saving scheme. This policy has you flexibility like unit linked plans. The plan is also known as ATM plan for its unique feature, that give you flexibility to get maturity any time after completion of minimum term of 10 years.

Surrender value, as described above is promising and attractive. Unlike other plans this plan has special surrender value which offer maximum surrender value after premium paid 3 or more years. You can start lic table 165 with a basic premium of just Rs 250 per month or 3000 per year.

Here in the above chart SUM assured values are given with and without DAB amount. Life insured paying 5000 per month can take additional double accidental death benefit by paying Rs. 104 with monthly premium. In this case total SUM assured calculation will be as follows:

Total Monthly Premium: 5,000.00

5,000.00 * 250 = 1,250,000.00

In case of accidental death (With DAB):

Total Monthly Premium: 5,104.00

5,000.00 * 250 = 2,500,000.00

Yearly payment of premium reduces the DAB amount.

Note: Above calculation is for illustration purpose only.