LIC Saral Jeevan Bima – Plan No. 859
An independent, plain-language look at LIC Saral Jeevan Bima (Plan No. 859, UIN 512N341V01) — what it offers, who it may suit, and what to check before buying.
Currently Available Term Insurance Plan UIN: 512N341V01
What Is LIC Saral Jeevan Bima?
LIC's Saral Jeevan Bima is a standard, individual, non-linked, non-participating term assurance plan — a simplified structure mandated by IRDAI to be offered uniformly across insurers, making it straightforward to compare like-for-like against similarly named plans from other insurers.
Key Features
- Standardised term plan structure applicable across insurers, for easy comparison
- Pure protection with a single, straightforward death benefit structure
- Simplified terms intended to reduce confusion when comparing term plans
Who May Consider This Plan
- First-time term insurance buyers who want a simple, easy-to-understand plan structure
- Those who want to compare LIC's version of the standard term plan against other insurers on equal footing
Important Considerations
Because the structure is standardised, there is limited room for customisation compared to plans like New Jeevan Amar. If you specifically want an increasing sum assured or other structuring options, a different LIC term plan may suit better.
Example Scenario
Illustrative only: A first-time buyer wanting a straightforward pure protection plan with minimal complexity could compare Saral Jeevan Bima's premium for their desired sum assured against LIC's other term plans before deciding.
LIC Saral Jeevan Bima FAQs
IRDAI mandates a standardised structure for this category so that a 'Saral Jeevan Bima' from any insurer has broadly comparable core features, making pricing comparison easier for customers.
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