Saral Jeevan Bima Yojana 2022: Online Registration (Saral Jeevan Bima), Online Apply, Its Eligibility and Benefits

As you all know, there are many conditions in life insurance given by insurance companies because of which people do not buy life insurance. Keeping this in mind, the Insurance Regulatory and Development Authority of India has started Saral Jeevan Bima Yojana. Today we are going to provide you all the important information related to this scheme Saral Jeevan Bima 2022 its purpose, features, benefits, eligibility, application process etc. So friends, if you want to get all the important information related to this scheme, then you are requested to read this article till the end.

Saral Jeevan Bima Yojana 2022

Saral Jeevan Bima Yojana 2022 would offer coverage ranging from 500000 to 2500000. Under the Saral Jeevan Bima Yojana, various premium varieties would be available. The beneficiary can purchase life insurance based on his financial situation. The minimum and maximum ages for purchasing a life insurance policy are 18 and 65 respectively. Under this scheme, a person may not be older than 70 years old. Under Saral Jeevan Bima Yojana 2022, there will be three premium payment options: regular premium, limited premium payment term for 5 years and 10 years, and single premium. A 45-day waiting period will also apply after the policy’s launch. The coverage will only cover accidental death during these 45 days. This policy will have a four to forty-year term.

Saral Jeevan Bima Yojana started from 1 April 2021

As you are all aware, the Insurance Regulatory and Development Authority of India launched the Saral Jeevan Bima Yojana. The beneficiaries of this scheme will receive life insurance with straightforward terms and conditions. To receive the benefits of this scheme, the beneficiary must pay the premium within monthly, quarterly, six months, or a year. The bare minimum premium is Rs.1000. The Saral Jeevan Bima Yojana policy can be surrendered within six months of purchase by the beneficiary as well. The fact that this scheme will offer a 100% return on the purchase price is one of its unique features. The beneficiary of this scheme will receive this incentive. If the scheme beneficiary is not still alive, his or her spouse will receive this sum. After the beneficiary and the beneficiary’s spouse pass away, the beneficiary’s heirs will get a 100% return of the purchase price. The Saral Jeevan Bima Yojana was started on April 1, 2021. After 1 April 2021, you can get in touch with the insurance company to see if you qualify for this scheme as well.

Saral Jeevan Bima Yojana

Key Highlights of Saral Jeevan Bima Yojana 2022

Also Read: Ayushman Bharat Digital Mission 2022

Saral Jeevan Bima Yojana Update on January 

The term scheme for the Saral Jeevan Bima Yojana has also begun due to the attractiveness of the New Year which are available for purchase. Additionally, this scheme has a reduced premium available so that today even those with minimal incomes can purchase life insurance. The terms and conditions of all insurance firms will be the same under the Saral Jeevan Bima Yojana, as well as the sum assured and premium amount. The policy period for Saral Jeevan Bima Yojana will range from 4 to 40 years which will offer protection for people ages 5 to 25. This scheme is available to citizens between the ages of 18 and 65. The Insurance Regulatory and Development Authority of India created the Saral Jeevan Bima Yojana rules. No payment will be made if the policy holder passes away within 45 days after obtaining the policy, with the exception of accidental death. The claim amount will be distributed to the policyholder’s nominee after his passing. However, the individual who is content with themselves will not receive compensation. This scheme does not include any provisions for maturity benefits or surrender values. The Saral Jeevan Bima Yojana has the unique feature of allowing the beneficiary to purchase life insurance in accordance with his income. To benefit from this scheme, there are no restrictions based on gender, place of residence, travel, employment, or educational background.

Saral Jeevan Bima Yojana launched

• All insurance firms have introduced the Saral Jeevan Bima Yojana. Guidelines have been published under this scheme by India’s Insurance Regulatory and Development Authority. This life insurance scheme is fairly straightforward. Its rules will be relatively simple for the average person to comprehend. Through this scheme, the client and insurance company’s level of trust will rise. All insurance companies began using the Saral Jeevan Bima Insurance Scheme on January 1, 2021. People from 16 to 65 years old can purchase the Saral Jeevan Bima Yojana. This policy’s maturity age is 70 years. This scheme will have a minimum period of five years and a maximum length of forty years. Applications for the Saral Jeevan Bima Yojana can also be submitted online so that the system continues to be transparent. You will also receive a 20% discount if you purchase Saral Jeevan Bima insurance online.
• The majority of life insurance providers base their life insurance decisions on the beneficiary’s yearly income, however Saral Jeevan Bima Insurance has the unique ability for consumers to purchase an insurance policy without taking the beneficiary’s yearly income into consideration. The consumer should look at the company’s solvency ratio and claim settlement ratio before purchasing Saral Jeevan Bima Insurance from any provider.

Duration of Saral Jeevan Bima Policy

The Saral Jeevan Bima Yojana is available to those between the ages of 18 and 65, and the duration of the coverage can range from four to forty years. Sums insured under this policy would range from 5 lakh to 25 lakh. Under the Saral Jeevan Bima Yojana, there will be a 45-day waiting period before any maturity benefits become accessible. No payment will be made if the policyholder passes away within 45 days after obtaining the policy, with the exception of accidental death. Suicide will not be covered under Saral Jeevan Bima Yojana claims.

Objective of Saral Jeevan Bima Yojana

The fundamental goal of this scheme is to make insurance available to all citizens. The rules governing this scheme have been maintained to a minimum so that a growing number of people can purchase the insurance policy and benefit from it. Through this scheme, the nominee receives the amount of coverage following the death of the applicant so they won’t have to worry about money.

Benefits under LIC Jeevan Saral scheme

Death Benefit: If the policyholder dies during the policy term, the nominee will get,

• Sum Assured (i.e. 250 times the monthly premium) + Payment of premium paid in addition to first year’s premium and rider/additional premium paid
• Loyalty Addition (if any)

 Maturity Benefit: On maturity of the policy, the policyholder gets,

• Maturity Sum Assured (depends on entry age and policy term of the policyholder) +
• Loyalty Additions (if any)

 Income Tax Benefit: Every year life insurance deduction of Premiums paid up to Rs 1,50,000 are exempted under section 80C of income tax. Death benefit and maturity benefit are also tax free under section 10(10D) of Income Tax.

Benefits and features of Saral Jeevan Bima Yojana 2022

• The beneficiary of this scheme is given life insurance.
• The nominee receives the life insurance payout following the death of the beneficiary.
• This scheme provides coverage ranging from 500000 to 2500000.
• Under the Saral Jeevan Bima Yojana, the insurance company is free to choose its own premium amount.
• The recipient of this scheme may purchase life insurance based on his financial situation.
• The minimum and maximum age requirements to purchase this scheme are 18 and 65, respectively.
• Under this scheme, maturity age will be permitted up to a maximum of 70 years.
• The Saral Jeevan Bima Yojana has a 45-day waiting time specified.
• The policy will only provide coverage for accidental death during this 45-day waiting period.
• The policy term has been maintained at 4 to 40 years under this scheme.
• The Insurance Regulatory and Development Authority of India has made this declaration.
• As of January 1, 2021, all insurance firms will implement this scheme.
• Under this scheme, straightforward terms and conditions have been maintained.
• Saral Jeevan Bima Yojana excludes suicide from its coverage.
• There is no restriction on the purchase of this life insurance scheme based on a person’s gender, location of residence, place of travel, occupation, or level of education.

Eligibility and required documents for Saral Jeevan Bima Yojana

• In order to apply under this scheme, a person must be an Indian permanent resident.
• The minimum and maximum age requirements for the Saral Jeevan Bima Yojana are 18 and 65 years, respectively.
• Aadhaar cards
• Address validation
• A passport-sized photo

Mobile phone Process to apply online under Saral Jeevan Bima Yojana

• First, go to the official website of that insurance company
• Now the home page will open in front of you.
• On the home page, click on the link for the insurance scheme.
• After this, click on the link of Saral Jeevan Bima Yojana.
• Now,click on the button of Apply Now.
• Now the application form will open in front of you.
• You have to fill the information asked in the application form carefully.
• Now you have to upload all the important documents.
• After that you have to click on the submit button.
• In this way you will be able to apply under this scheme.

Process of applying offline under Saral Jeevan Bima Yojana 2022

• First of all, go to the office of the insurance company from where you want to buy Saral Bima Yojana.
• Now you have to take the application form of Saral Bima Yojana.
• You have to fill this application form carefully.
• After this you have to attach all the important documents.
• Now you have to submit this application form to the office of the insurance company.
• In this way, you can apply offline.