How does my nominee claim the death benefit?

The nominee needs to submit a death certificate, policy documents, and any required forms to the insurer. After verification, the payout is processed.

How much coverage should I get?

A good rule of thumb is to have coverage that is 10-15 times your annual income, but the exact amount depends on factors like debts, living expenses, and future financial goals.

Can I increase my coverage later?

Some insurers allow policyholders to enhance coverage at key life stages (marriage, childbirth) through step-up options. Otherwise, a new policy may be needed.

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OneAssure

Term Insurance

LIC Saral Jeevan Bima

Compare LIC Saral Jeevan Bima benefits, exclusions, ratings and related variants in one place.

1.98

Solvency

98.66%

ICR

0.23%

Growth

3,384,589.98

AUM

Policy Brochure

Policy Policy Wording

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Yes

Our Verdict

LIC Saral Jeevan Bima Review: Our Verdict

Final Verdict

LIC's Saral Jeevan Bima is ideal for individuals seeking basic, affordable life insurance. It offers flexible payments and accidental death coverage but lacks maturity benefits and has a 45-day waiting period for non-accidental deaths.

About

What Is LIC Saral Jeevan Bima?

LIC's Saral Jeevan Bima is a non-linked, pure risk life insurance plan providing financial protection to the insured’s family in case of untimely death. It offers flexible premium payment options—single, regular, and limited. Available online and offline, it excludes maturity benefits, surrender value, or loans. A 45-day waiting period covers only accidental death. Ideal for individuals seeking affordable, straightforward coverage, it ensures financial security for loved ones.

About Company

About Life Insurance Corporation of India

Life Insurance Corporation of India (LIC) is a state-owned life insurance company established in 1956. Life Insurance Corporation of India (LIC) was founded by the Government of India,through the integration of several private insurance companies.LIC offers a wide range of insurance products, including plans for life protection, pension, and investment. LIC is recognized for its trustworthiness and strong customer base, providing financial security to millions. It plays a pivotal role in the country’s insurance sector and aims to deliver value to its customers through reliable services and customer-centric policies.

Ratings

LIC Saral Jeevan Bima Rating

Insurer Rating

6.49

out of 10

Insurance Rating

4.33

out of 10

Layer 1

Lump Sum + Income Option

Waiver of Premium Rider

Online Purchase Available

Yes

Layer 2

Claim Process Simplicity

4/5

Premium Competitive

4/5

Claim Process Simplicity

4/5

Testimonials

Life Insurance Corporation of India Customer Testimonials

Customer feedback and experiences.

I want to sincerely thank Sunad for being there for me throughout the entire claim process. He helped me through so many ups and downs, always patient and ready to support when things got tough. I honestly don’t know how I would have managed without his guidance and encouragement. Sunad made a difficult situation feel a lot less stressful, and I’m truly grateful for his kindness and steadfast help.

Prashant Pandey

Had a great experience with them during a difficult time. After my mother’s accident, we had to pay the hospital bill upfront, as cashless wasn’t available. They guided us through the reimbursement process, helped file the claim, and consistently followed up with the insurer until it was settled. Their support with the post-hospitalization claim was equally prompt and thorough.

Jatin Gala

My heartfelt thanks to the OneAssure team for making my insurance claim process effortless. Right from the very first interaction, they demonstrated professionalism, clear communication, and an impressive command of the procedures involved. Their swift updates, timely guidance, and persistent follow-through removed all the stress from what could have been a complicated experience.

Anju Renjith

I am truly grateful for the support and guidance I received in settling my insurance claim. The entire process was handled with great professionalism, clarity, and efficiency. Their prompt response, deep knowledge of the procedures, and consistent follow-ups ensured a smooth and hassle-free experience.Thank you once again for your invaluable help, highly recommended!

Yogesh Meena

I recently had the pleasure of purchasing health insurance for my parents through this company, and my experience has been exceptional...The team was incredibly patient and took the time to explain every detail to me. No matter how many times I asked questions, they were always calm and thorough in their explanations. Their professionalism and dedication made a significant difference in helping me make an informed decision.

Akash Kumar

OneAssure helped me understand my needs and choose a product that was right for me. There was no pressure tactics or mis-selling. This experience was respectful, informed, and completely stress-free.

Shreya Goyal

Have been associated with Ruchir and his team… They have provided me excellent guidance in choosing the right plans for myself and my family…always been available to assist with any insurance/claim queries.

Nakul N

Had a great experience with OneAssure during my insurance claim process. A special shoutout to Sunad Raj for his exceptional support, he was professional, responsive, and guided me every step of the way. Thanks to his consistent follow-ups and clear guidance, the entire claim settlement was smooth and hassle-free. Highly recommend OneAssure for their service and transparency!

Sanjay Dakalia

The team is very professional and prompt. I would have all my health and life insurance needs met through them.

Harish Jindal

Very professional service from Ruchir & Aman. They were recommended by a friend who had a positive experience with them. I have taken both health and life policies through them and they have advised me well throughout the process and found the best options available in the market. I had a medical condition due to which it was difficult to find a suitable health policy in the market, however this team was able to find one for me. I would recommend their services to anyone looking to buy health or life insurance.

Siddhartha Saha

Wonderful experience with Prost. Right from suggesting the insurance products to claim process the entire experience hai been seamless. They do not mis-sell and are very transparent. Sundar Raj from the team has been wonderful and ensured prompt guidance. All the best Ruchir and keep up the good work!

Adarsh Ravindranathan

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Inclusions and Exclusions

LIC Saral Jeevan Bima Inclusions and Exclusions

Premium Payment Customizations

The plan allows three premium payment options:Single Premium – One-time lump sum payment.Regular Premium – Paid throughout the policy term.Limited Premium – Payable for 5 or 10 years, while coverage continues.
Payment modes: Yearly, Half-Yearly, and Monthly

Revival of Lapsed Policies

If premiums are not paid within the grace period, the policy will lapse.
A lapsed policy can be revived within 5 years from the first unpaid premium date by paying all arrears with interest.

Policy Cancellation Value (Limited & Single Pay Options)

If at least two full years’ premiums are paid, the policyholder can apply for cancellation.
The amount refunded is 70% of total premiums paid, adjusted for the unexpired policy term.

Exclusions

45-day waiting period: Only accidental death is covered; death due to natural causes or illness is excluded.
If death occurs by suicide within 12 months, only a percentage of the premiums paid is refunded.
Death due to pre-existing illnesses within the waiting period is not covered.
Death due to intentional self-harm (excluding suicide clause) is not covered.
Death occurring while committing unlawful acts is excluded.

Add ons

LIC Saral Jeevan Bima Add-Ons and Riders

Accidental Death

Critical Illness

LIC Saral Jeevan Bima Related Variants

Tata AIA Saral Jeevan Bima

Future Generali Saral Jeevan Bima

Bharti AXA Saral Jeevan Bima

Claim Process

LIC Saral Jeevan Bima Claim Settlement Process

Steps and flow followed by the insurer.

Term Cover Calculator

LIC Saral Jeevan Bima Insurance Premium Calculator

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How to Buy

How to Buy LIC Saral Jeevan Bima

Purchase flow from OneAssure.

Things to Remember

Keep KYC documents and nominee details ready before purchase.

Renewal

LIC Saral Jeevan Bima Renewal

Renewal steps and key points.

FAQs

LIC Saral Jeevan Bima FAQs

Got questions about LIC Saral Jeevan Bima? You’re not alone. Here are some of the most commonly asked questions to help you understand this term life plan, coverage, claims, and benefits better.