LIC Jeevan Saral Calculator
Calculate Premium for Plan 165, 859 & 862
Calculation Results
Plan 165 - LIC Jeevan Saral Features
- Endowment plan with insurance and savings
- Entry Age: 18-65 years
- Policy Term: 10-35 years
- Maturity benefit includes Sum Assured + Bonuses
- Death benefit: Sum Assured + Bonus
LIC Jeevan Saral is a popular endowment plan from Life Insurance Corporation of India that offers life cover and savings with flexible premiums.
What is LIC Jeevan Saral?
LIC Jeevan Saral, Plan No. 165 (UIN 512N222V01), launched around 2003-2004, gives a fixed death benefit of 250 times your monthly premium. For example, an Rs 1,000 monthly premium means an Rs 2.5 lakh sum assured on death.
It works as an endowment policy where you pay premiums regularly, and at maturity, you get survival benefits plus bonuses. The plan was withdrawn on January 1, 2014, so new buyers cannot purchase it, but existing policyholders enjoy ongoing benefits.
Key features include flexible policy terms from 10 to 35 years, entry age 12-60 years, and maturity up to age 70. Premiums start low, like Rs 250 monthly for younger ages.
Launch and Withdrawal Details
LIC Jeevan Saral 165 came out in early 2004 as a simple, flexible option for all income groups. It gained popularity for its straightforward structure and loyalty additions at maturity.
The policy stopped new sales on January 1, 2014, due to regulatory changes and new product launches. No withdrawal date for existing policies; they continue till maturity.
How the LIC Jeevan Saral Calculator Works
The calculator estimates maturity value, death benefits, and surrender value based on your age, premium, and term. Enter details like monthly premium (min Rs 250-400), age at entry, and policy term.
It shows the sum assured (250 x monthly premium), bonuses, and final payout. For instance, Rs 2,000 monthly premium over 15 years at age 30 might mature at around Rs 6.5 lakh.
Online tools from sites like liccalculator.info or policybazaar.com make it easy. Always check official LIC sources for accuracy.
Benefits of Jeevan Saral Plan 165
The death benefit is fixed at 250 times the monthly premium, paid anytime after year 1. Maturity gives the sum assured plus vested bonuses and loyalty additions.
Surrender is possible after 3 years: higher of guaranteed (30% of premiums paid minus first year) or the special surrender value. Partial surrender allowed post-3 years.
Tax benefits under Section 80C for premiums and 10(10D) for maturity. Riders for accident benefits add protection.
Eligibility and Premium Examples
Entry age: 12-60 years (last birthday). Policy term: 10-35 years, max maturity age 70.
Minimum premium: Rs 250/month (up to age 49), Rs 400 (50+). Pay monthly, quarterly, half-yearly, or yearly.
Example table for maturity estimates (approximate; use a calculator for exact):
| Monthly Premium (Rs) | Policy Term (Years) | Entry Age | Approx Maturity Value (Rs) |
|---|---|---|---|
| 2,000 | 15 | 30 | 6,50,000 |
| 3,000 | 15 | 30 | 8,75,000 |
| 4,000 | 15 | 30 | 10,90,000 |
LIC Saral Jeevan Bima Plan 859
Launched on April 16, 2021 (UIN 512N341V01), this is a pure term plan under IRDA’s standard “Saral” category. No maturity benefit; only death cover from Rs 5 lakh upwards.
Entry age 18-65 years, term up to 40 years. Premiums are based on age, sum assured, and term. No surrender value; no loans.
Death benefit: 100% sum assured. Suicide clause: premiums paid if within year 1. Simple for pure protection.
LIC Saral Pension Plan 862
Launched in May 2021 (UIN 512N342V01, latest V05 in 2025), this immediate annuity gives pension rights after a one-time premium. Variants: single life or joint with spouse, both with 100% purchase price return on death
Entry age 40-80 years, min purchase Rs 1 lakh (depends on annuity). Annuity monthly/quarter
Example: Rs 5 lakh at age 45 gives ~Rs 30,000 yearly annuity. Loans after 6 months; surrender for critical illness.
Comparison of Saral Policies
| Feature | Jeevan Saral 165 | Saral Jeevan Bima 859 | Saral Pension 862 |
|---|---|---|---|
| Type | Endowment ​ | Term | Annuity |
| Launch | ~2004 | 16.04.2021 | May 2021 |
| Withdrawal | 01.01.2014 | Active | Active |
| Min Sum/Premium | 250x monthly | Rs 5 lakh | Rs 1 lakh |
| Maturity Benefit | Yes, plus bonuses | No ​ | No, annuity lifelong |
Frequently Asked Questions
Can I still buy LIC Jeevan Saral 165?
No, withdrawn since 2014. Existing policies continue.
What is death benefit in Jeevan Saral?
250 times the monthly premium.
Is Saral Pension 862 taxable?
Annuity taxable as income; purchase price return tax-free.
Minimum premium for Jeevan Saral?
Rs 250/month for under 50.
Does Saral Jeevan Bima 859 have maturity?
No, pure term plan.
When can I surrender Jeevan Saral?
After 3 full years premiums paid.​
Conclusion
LIC Saral policies like Jeevan Saral 165, Saral Jeevan Bima 859, and Saral Pension 862 suit different needs: savings, protection, and retirement. Use calculators to plan wisely and visit licindia.in for official details.