Saral Jeevan Bima Yojana Interest Calculator & Premium Chart

Saral Jeevan Bima Yojana Interest Calculator & Premium Chart  Saral Jeevan Bima Yojana Online Apply, Saral Jeevan Bima Policy Interest Calculator,Saral Jeevan Bima Yojana Eligibility and Benefits 

Hello Friends How are all of you guys hope all of you guys will be good. Let’s talk about today’s article Saral Jeevan Bima Yojana Interest Calculator & Premium Chart Saral Jeevan Bima Yojana has been launched by Insurance Regulatory and Development Authority of India.

Under this scheme, life insurance will be provided to the beneficiaries with simple terms and conditions. The beneficiary has to pay the premium within monthly, quarterly, 6 months, 1 year to avail this scheme.

The Insurance Regulatory and Development Authority of India has started Saral Jeevan Bima Yojana  Under the scheme so that you can calculate the interest that you will be provided and the benefits that you will be provided through the development of this prestigious scheme.

You can check out the details related to Saral Jeevan Bima Yojana from the article provided below and we will also share with you all the details related to the premium chart and the interest rate calculator present.

Saral Jeevan Bima Yojana 2022

Saral Jeevan Bima Yojana is created in order to provide proper opportunities for life insurance to the people who have recently started their career and want to get up your protection policy so that they can continue their life without having to worry about their loved ones if anything for within happens to them.

The minimum premium amount is ₹1000. Surrender can also be done by the beneficiary within 6 months of purchasing the policy of Saral Jeevan Bima Yojana. A special feature of this scheme is that 100% return will be provided on the purchase price under this scheme. This reward will be given to the beneficiary of this scheme.

The residents will be able to apply for the policy if they want to be a part of a prestigious Insurance Scheme and at the age of 18 years, the insurance plans are available according to the payment option that the candidates opt for.

Saral Jeevan Bima Yojana 2022 Main Point Highlight:
scheme name Saral Life Insurance Plan
who launched Insurance Regulatory and Development Authority of India
Beneficiary citizens of india
purpose Providing simple insurance cover.
year 2022

Saral Jeevan Bima Policy This payment protection Scheme is also available for the covid-19 patients and the people who have suffered death from the covid-19 pandemic. You can fill out the application form for this Life Insurance Scheme by visiting the official website or by visiting your nearest Insurance company.

Purpose of Saral Life Insurance Plan

The main objective of this scheme is to make the insurance scheme accessible to all the citizens. The terms and conditions under this scheme have been kept very simple. So that more and more people can buy insurance plan and take advantage of it. Through this scheme, after the death of the applicant, the amount of cover is provided to the nominee, so that they do not have to face financial trouble.

About us Saral Jeevan Bima Yojana 

Saral Jeevan Bima Yojana has been launched by all the insurance companies. Under this scheme, guidelines have been issued by the Insurance Regulatory and Development Authority of India . This is a very simple life insurance policy. Whose guidelines will be very easy to understand for the common man.

Through this scheme, the trust between the insurance company and the customer will increase. Saral Life Insurance Insurance Plan has been implemented by all the insurance companies from 1 January 2021.

Saral Jeevan Bima Yojana can be bought by people in the age group of 16 to 65 years. The maturity age of this policy is 70 years. The minimum tenure of this scheme will be 5 years and the maximum period will be 40 years.

  • The application can also be made through digital platform under Saral Jeevan Bima Policy. To maintain transparency in the system. If you buy Saral Life Insurance Insurance online, you will also be provided with a 20% discount.
  • Life insurance is provided by most of life insurance companies by looking at the annual income of the beneficiary but a special feature of simple life insurance is that the customers are allowed to buy the insurance policy without taking into account the annual income of the beneficiaries. Before buying Saral Life Insurance Insurance from any company, the customer should check the solvency ratio and claim settlement ratio of that company.

Features Of Saral Jeevan Bima Yojana

You have to keep these features in check when you are filling out the application form:-

  • The application is available for any person who is looking for a pure protection policy and there is no limitation based on occupation, academic qualifications, gender, or residential place.
  • The people who have just started their careers can apply for this scheme and get a life cover of up to Rs 25 lakh.
  • The people will be able to get proper opportunities in order to help their families after their dismissal
  • The premium can pay in three methods that are early half yearly or monthly and you can also opt for a single premium payment option in a lump sum amount.
  • Policy cancellation can come into consideration by following the following pointers-
  • When the life assured applies for the same before the date of maturity in the case of Single Premium Policy.
  • When the life assured applies for the same before the date of maturity or at the end of the revival period in case the policy has not been revived, in case of limited premium payment policy.

Benefits Of Saral Jeevan Bima Yojana

  • The candidates will be provided an insurance plan in consideration of the covid-19 situation and there are also protection plans that cover the death due to covid-19.
  • The standard plan offers some assurance to the nominee in the event of death of the life assured and the nominate will be able to get financial monetary funds in order to help them with the challenges.
  • There is a waiting period of 45 days from the days of commitment of the risk and the waiting period is not applicable if the policy is revive.
  • There are proper tax deductions that are applicable under the Income Tax Act 1961.

Terms and Conditions

The applicant must follow the following terms and conditions in order to apply for the Saral Jeevan Bima Policy:-

  • Grace Period: Under Saral Jeevan Bima policy grace period is only applicable for regular and limited pay policies. A grace period of 30 days for yearly and half-yearly premium payments and 15 days grace period from the date of the first unpaid premium shall be provided for the Saral Jeevan Bima policy. In case the life assured is not able to pay the premium within the grace period, the policy shall lapse. The policy remains in force during the grace period.
  • Free-Look Period: A free-look period of 15 days from the date of receipt of the policy documents shall provide to the policyholder, in case he/she is not satisfied with the terms and conditions of the Saral Jeevan Bima policy. The policyholder must provide a written request to cancel/return the policy within the free-look period, the policyholder shall be provided with a refund of premiums paid after deducting the proportionate risk premium for the coverage period, stamp duty charges, and expenses incurred by the life insurance company for the medical examination of the life assured.
  • Revival of Lapsed Policy: Revival of the lapsed Saral Jeevan Bima policy should be done within 5 years from the date of the first unpaid premium. The policy can be revived at any time during the revival period but before the maturity of the policy. In case the policyholder fails to revive the policy within the provided revival period the policy shall be immediately terminated.
  • Surrender: Surrender value is not applicable under Saral Jeevan Bima policy.
  • Policy Loan: The policy loan facility is not available under the Saral Jeevan Bima policy.
  • Policy Termination: The policy shall terminate by the earliest in case any of the following conditions occur
    • Death benefit payout
    • Refund of premium paid in case of policy cancellation
    • Maturity date
    • Expired revival period
    • Payment of free-look cancellation period
  • Nomination and Assignment: Under Saral Jeevan Bima policy, nomination and assignment are allowed under Sections 38 and 39 of the Insurance Act, 1938 as amended from time to time. The notice of appointing an assignee or changing a nominee should be submitted to the insurance provider.
  • Suicide Exclusion: In case the life assured passes away due to committing suicide the policy shall be considered void. Following are suicide exclusions under regular/limited and single pay policies:
    • For Regular/Limited Pay Policy: In case of unforeseen demise of the life assured caused by committing suicide within the first 12 months from the date of policy commencement, 80% of the total premiums paid till the date of death of the life assured, shall be provided to the nominee.
    • For Single Pay Policy: In case the life assured passes away by committing suicide within the first 12 months from the date of policy commencement, 90% of the total premium paid till the date of death of the life assured, will be provided to the nominee.
  • Issuance of Duplicate Policy Documents: The policyholder can request duplicate policy documents in case the documents have misplace or destroyed. The policyholder must provide policy preparation charges and stamp charges which change from time to time.

Eligibility Criteria

The applicant must follow the following eligibility criteria to apply for the saral Jeevan Bima policy:-

  • The applicant must be above the age of 18 years.
  • The applicant must be below the age of 65 years.
  • The policy term is between 5 to 40 years.
  • The maximum maturity age is 70 years
  • The minimum sum assured is 5 lakh.
  • The maximum sum assured is 25 lakh.
  • You can pay the premium yearly, half-yearly, or monthly.
  • The waiting period inside the scheme is 45 days.

Documents Required 

The following documents are require in order to apply for the scheme:-

  • For Application
    • Duly Filled and Signed Proposal Form
    • KYC Documents of the Applicant (Aadhaar Card, Pan Card, Voter ID Card, Passport, etc.)
    • Address Proof of the Applicant ( Recent Electricity Bills, Water Bills, Gas Bills, etc.)
    • Recent Salary Slips
    • Passport Size Photographs
    • Recent Medical Examinations/Records
  • For Claiming
    • Original Policy Documents
    • Duly Filled and Signed Claim Forms
    • NEFT Mandate from the Claimant
    • Claimant’s Photo ID Proof
    • Claimant’s Bank Details
    • Proof of Title
    • Proof of Death
    • Medical Treatment Reports prior to the demise (if any)
    • Attending Physician’s Statement
    • Treating Doctor’s Statement
    • Original Death Certificate
    • Recent Medical Records
    • Copy of FIR (In case of accidental death)
    • Copy of Post Mortem Report (In case of accidental death)

How to Apply online under Saral Jeevan Bima Yojana

If you want to apply for the application online then you will have to follow the simple procedure given below:-

  • Go to  visit the official website of the insurance company of their choice and then they have to buy the application form for the saral Jeeva Bima plan.
  • You have to click on the option called life insurance plan present on the homepage and then you have to click on the option called saral Jeevan Bima
  • A new page with the application form will open on your screen and you will have to register yourself by entering the important details.
  • You have to upload all of the documents and then you can successfully submit the application form in order to be a part of the saral Jeevan Bima Yojana.

How to Apply offline under Saral Jeevan Bima Yojana 2022

If you want to fill out the application form offline then you will have to follow the simple procedure:-

  • You will first have to visit the nearest branch of the insurance company of your choice.
  • The candidates will have to buy the application form for saral Jeevan Bima Yojana.
  • You have to fill out the application form with the required details and attach all of the required documents.
  • The candidates will have to submit the application form to the person in charge at the insurance company branch office.
  • You will be provided an acknowledgment number which you have to keep safe for future use.

Contact Details:

To get information related to Saral Jeevan Bima Yojana, the beneficiary person can contact the helpline number given below.

  • Insurance Regulatory and Development Authority of India
  • Sy No. 115/1, Financial District, Nanakramguda, Gachibowli, Hyderabad – 500032
  • Ph: +91-40-20204000/+91 40-39328000 e-mail: irda@irdai.gov.in

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Saral Jeevan Bima Yojana (F.A.Q.)?

What is Saral Life Insurance Plan?

Saral Bima Yojana is a type of insurance policy, which has been issued by the government to the citizens by the insurance company to take the policy, through which the citizens can buy the insurance policy according to their situation.

what is this policy

The New Children Money Back Plan policy of Life Insurance Corporation is done for 25 years . Also, in this you get the maturity amount in installments. It is paid for the first time when your child turns 18. The second time it is paid when the child is 20 years old and the third time when he is 22 years old.

When and by whom was Saral Jeevan Bima Yojana launched?
Saral Jeevan Bima Yojana was launched on 1 January 2021 and it was launched by the Insurance Regulatory and Authority of India Development.
What benefits will the citizens get under Saral Jeevan Bima Yojana?

Under Saral Bima Yojana, citizens will get all the benefits from the insurance scheme.

What is the main objective of Saral Jeevan Bima Yojana?

The main objective of saral Jeevan Bima Yojana is to provide simple and secure insurance cover to all the citizens of the country and under insurance schemes.

How much cover is available under Saral Jeevan Bima Yojana?

₹ 500000 to ₹ 2500000

Who can take Saral Life Insurance?

Any interested person

Conclusion:

Here we have provided all the information about the Saral Jeevan Bima Yojana Interest Calculator & Premium Chart   If you like this, you should definitely share it with people you know. I hope you liked this article and got some new information. Please tell me in the comments.

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