LIC Jeevan Saral Review

LIC of India launched Jeevan Saral Plan in 2004. This is best ever plan since this plan has been in top individual sales in last few years. Let's have a review of this plan with a fair comparison to normal saving schemes available in markets.

• First and usual saving scheme we find in the market is normal saving banks accounts. Many banks also have started offering saving accounts with risk but probably may not give you risk cover and tax benefits as the Jeevan Saral policy provides.
• The second usual regular deposit scheme is Recurring Deposit know as RD. This can be a good option of saving regularly with great interest rates. But RD schemes do not have tax saving schemes and does not have any kind of risk covers.
• Term deposits are best to invest for better interest but one would require huge money to invest at a time. You can not take it as a regular deposit scheme.
• Provident funds are typically standing against this policy. PF are providing good interest rates and tax benefits as well. But one thing that lacks in PF is risk cover which is the main factor while comparing about the insurance plans.

After comparing each saving schemes here is the list, what your Jeevan Saral table 165 covers:

ü  Tax Benefits for premium under 80 c and for Death Claim under 10 20 d

ü   Accidental death riders

ü  Loan facility available after 3 years

ü   Guaranteed Surrender Value and Special Surrender value

ü   250 time risk cover

ü   Maturity with loyalty additions

ü   Premium payment can be done monthly / quarterly/half yearly / Yearly

ü   Trust of LIC

Hope you liked this Jeevan Saral review. You can post any query or suggestion below.
for a more detailed article on Jeevan Saral policy <= click here