LIC Jeevan Saral is an Endowment Assurance Policy related to mode and amounts of premiums paid. The policyholder gets the death benefits through this plan based on insured amounts. What you get at maturity depends upon the entry age. At the end of the plan term, get back the total sum as it stands on maturity
Benefits of the Jeevan Saral include high liquidity and term flexibility. It is possible to choose the mode of payment of premium amounts through salary deductions on a yearly, quarterly, half-yearly, or monthly basis. The death benefit of the policyholder’s family includes sums in the range of 250 times the monthly premiums plus loyalty additions, which are terminal bonuses- a top up on maturity and death benefits.
Maturity benefit is payable in the form of a lump sum. Those who want to get extra benefits from LIC Jeevan Saral plan need to pay additional premiums. There is also the scope for early termination of the plan with an option for partial surrender. However, this is possible only after 3-year continuation. In such cases, it is possible to get back 30% of the total amounts paid in premiums until then, excluding the first year premiums. LIC reviews the surrender value from time to time and considers it in term of experience and economic environment.