Saral Jeevan Bima - Vision India Insurance

Saral Jeevan Bima is a term life insurance product that was launched by the Insurance Regulatory and Development Authority of India (IRDAI) in January 2021. The purpose of this product is to provide affordable life insurance coverage to individuals who may not be able to afford traditional life insurance policies.

Saral Jeevan Bima is a non-linked, non-participating, individual pure-risk premium life insurance plan. It provides a lump sum payout to the nominee in case of the policyholder’s death during the policy term.


  • Pure Risk Premium Life Insurance Plan

    It provides a financial safety net in case the life assured passes away suddenly during the Policy Term.

  • Limited Premium term available

    Only a certain number of years during the policy term may you pay premiums.

Minimum Maximum
Age of Entry 18 years 65 years
Basic Sum Assured  5 Lakhs 25 Lakhs
Policy Term  5 years 40 years
Premium Paying Term (Regular)  Same as Policy term
Premium Paying Term (Limited)  5 years and 10 years
Premium Paying Term (SIngle)  Lumpsum
Premium Paying Mode  Single, Yearly, Half Yearly, Monthly

Sum Assured on Death:
For Regular and Limited Premium Payment ⇒ Highest of 10 times Annualised premium or 105 % of all premiums paid as on date of death or 100% of Basic Sum Assured

For Single Premium Payment ⇒ Highest of 125% of Single Premium or 100% of Basic Sum Assured

Death Benefit :

Waiting Period⇒ 45 days from the Date of Commencement of the Policy
Death Benefit (Anytime during Waiting Period)
Natural Death⇒ Refund of Premiums

Accidental Death⇒ Sum Assured on Death will be payable

Death Benefit (Anytime after Waiting Period)
Sum Assured on Death will be Payable

Maturity Benefit ⇒ On Survival till the end of the policy term, No Maturity Benefit will be Payable.


Plan Benefits

Avail Tax benefit on Premium Paid

Tension Free Claim Settlement

Documents Required:

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