Saral Jeevan Bima Plan – Buying term insurance is an important decision that can help your loved ones cope with life’s uncertainties. However, before providing a person with a term plan, the insurers take a number of factors into account. Gender, occupation, income, residence, and educational attainment are examples. Because of these initial checkpoints, a lot of people don’t get life insurance with enough coverage to cover their costs.
Max Life Saral Jeevan Bima (Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan) UIN 104N117V01 is a standard pure term plan that is intended for everyone, regardless of their level of education or occupation. It is a straightforward plan for life insurance that guarantees your loved ones’ financial security.
Saral Jeevan Bima Plan
The India First Saral Jeevan Bima Plan is a standard, straightforward, and pure protection term plan that enhances your life by providing financial security and tranquility. The Saral Jeevan Bima Yojana is a project supported by the Insurance Regulatory and Development Authority of India (IRDAI). It is intended to safeguard loved ones in the event of a calamity. The IRDAI recommends the “Saral” plans, which are straightforward insurance options that cater to the majority of customers.
The India First Saral Jeevan Plan follows the same straightforward construction principles. As an unadulterated insurance term plan, this Jeevan Saral strategy expects to offer you the true serenity of realizing that your relatives will have the monetary security to put money on when you are not around to satisfy your obligations as a monetary supporter of the family.
Saral Jeevan Bima Plan India 2024 Details
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What is Max Life Saral Jeevan Bima?
It is a standard product that will make getting adequate life insurance easier for you. It was created to assist policyholders in making an educated life insurance decision. The amount that is guaranteed under this plan can start as low as Rs.5 lakhs to safeguard your family’s finances. If you pass away during the policy period, the beneficiary will receive a death benefit to cover life’s unforeseen costs. You can choose a premium payment option that works well with your budget. Due to education or occupation checks, if you have never purchased a term plan, now is the time to protect your life with this straightforward plan.
Why do You Need Saral Jeevan Bima?
Everyone ought to have life insurance that includes a term policy. The Saral Jeevan Bima (Saral Bima Yojana) program provides sufficient premium payment flexibility to meet the requirements of a variety of financial profiles. For instance, Saral Jeevan Bima’s limited pay option lets policyholders pay their premiums in full within the first few years of their policy, giving them coverage for the rest of the term without having to pay any premiums.
More importantly, you can choose the length of your Saral Jeevan Bima or Saral Bima Yojana policy from 5 to 40 years, depending on your preference. As a result, Saral Jeevan Bima Yojana may be a good option if you’re looking for a straightforward life insurance policy with sufficient financial protection.
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Eligibility Criteria of Saral Jeevan Bima
The Saral Jeevan Bima Yojana can be purchased by anyone, and there are no restrictions on gender, residence, educational background, or occupation.
The Saral Jeevan Bima has a five- to forty-year policy term, with an entry age of 18 and a maximum age of 65.One can be covered until they are 70 years old. Under the Saral Bima Yojana, policyholders can select a minimum coverage value of Rs 5 lakh and a maximum coverage value of Rs 25 lakh.
Documents Required For Saral Jeevan Bima Plan
To purchase the Saral Jeevan Bima Yojana, you will need the following list of acceptable documents:
DOB Proofs
- Passport
- Pan Card
- Driving License
- Aadhar Card/UID Card
- Election Commission ID Card
- School Leaving Certificate or College ID Card
Identity Proof
- Passport
- Pan Card
- Driving License
- Aadhar Card/UID Card
- Election Commission
Address Proof (Official Valid Documents)
- Passport
- Driving License
- Bank Statement (Not older than 3 months)
- Election Commission ID Card
- Landline Bill (Not older than 3 months MTNL / BSNL)
- Aadhar Card/UID Card
Address Proof (Deemed Official Valid Documents)
- Electricity Bill (Not older than 3 months)
- ESI ID Card
- Ex Serviceman Card
- Lease Agreement with Rent Receipt (Not older than 3 months)
- Post Office Savings Account Statement
IF EIA (Electronic Insurance Account) Selected
- Address ID as per EIA Form/ PAN CARD or ADHAAR CARD/1 photograph
For Salaried Individuals
- Bank Statement Last 3 months (Credited Salary)
- Salary Slips – Last 3 months (Credited Salary)
- Form 16
For Self Employed Individuals
- 2 years ITR & COI (Computation of Income)
- Form 26AS (AY-17-18 / AY – 18-19)
Things You Should Know About Saral Jeevan Bima
Here are some things to keep in mind before purchasing the Saral Jeevan Bima Yojana:
- Anybody, regardless of gender, occupation, residence, or educational background, should be able to purchase the product.
- The Saral Jeevan Bima Yojana coverage is available to anyone aged 18 to 65, despite the fact that the onboarding and underwriting procedures for each insurer may differ.They can choose to pay premiums on a regular basis, for a limited time (5 or 10 years), or in one lump sum over the course of the policy’s term of five to forty years.
- maximum cover of up to 25 lakh rupees, Saral Jeevan Bima guarantees a minimum of 5 lakh rupees.
- The Saral Jeevan Bima, also known as the Saral Bima Yojana, will only cover accident-related death within a 45-day waiting period from the Date of Commencement of Risk. The Sum Assured will not be paid out in the event of the Life Assured’s death outside of an accident during the Waiting Period; instead, an amount equal to 100 percent of all premiums received, minus any applicable taxes
- While the features, terms, and conditions of Saral Jeevan Bima are the same for all insurers, it is important to look at the plan’s pricing and claim settlement ratio.
WHAT IS THE NEED FOR THE INDIA FIRST LIFE SARAL JEEVAN BIMA PLAN?
The India First Life Saral Jeevan Bima Plan is a straightforward term insurance policy that, upon the policyholder’s death, will pay a predetermined lump sum to the nominee you have designated. Let’s take a look at some scenarios in which the India First Life Saral Jeevan Bima Plan might be required, as well as the ways in which this plan might be of use to you.
For a working woman
As a woman, it’s easy to underestimate your value to your family. However, in addition to managing the household, a working woman also makes a measurable monthly contribution to the family’s income. The IndiaFirst Life Saral Jeevan Bima Plan is a term plan that provides financial protection for your loved ones even if you are not there.
For a farmer
In the event of a tragic circumstance like the death of the family breadwinner, your loved ones will experience two types of grief: the loss of you and the loss of your financial contribution. You can ensure that a substantial sum of money will be paid out as the Jeevan Saral death benefit to assist your loved ones during a difficult time by safeguarding the future of your family with an affordable life insurance policy.
For a salaried employee
Your family begins to rely on a predetermined amount of money being contributed to the funds for household management as soon as you begin working as a salaried employee. But if you pass away too soon, your family could lose those fixed wages. With the India First Life Saral Jeevan Bima Plan, a straightforward and practical life insurance option, you can safeguard your family’s financial future.
For a business owner
As a business owner, you are aware of the importance of financial planning. You can rest assured that the money you spend on the IndiaFirst Life Saral Jeevan Bima Plan is being used to protect your family when they need it most. Purchase the IndiaFirst Life Saral Jeevan Bima Plan right away to ensure the financial stability of your family. The IndiaFirst Life Saral Jeevan Bima Plan has the same terms and conditions as before, but the maximum amount of money that can be guaranteed is limited to Rs.50,00,000 as opposed to the Rs. supported by IRDAI Limits of $25,000 allow you to better provide for your family.
For a first-time insurance buyer
It’s hard to choose between insurers and life insurance products. The uniformity of the Jeevan Saral policy benefits makes it simple to choose because all insurers offer the same Jeevan Saral benefits. The IndiaFirst Life Saral Jeevan Bima Plan’s uniform language makes it simple to understand, allowing you to make an informed decision when purchasing the policy.
For any potential policyholde
The premium for the India First Life Saral Jeevan Bima Plan will be determined based on your income, gender, and age. The plan is available to all individuals, regardless of their gender, occupation, residential state, educational qualifications, or job position. However, insurers continue to use the same set of policies and terms
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What is the Process of Saral Jeevan Bima Online Registration?
The Saral Jeevan Bima Yojana (also known as Saral Bima Yojana) registration procedure is fairly straightforward. To purchase the Saral Jeevan Bima Yojana, a few straightforward steps must be followed by anyone in the eligibility bracket.
Offline Process
- Visit to the life insurance office local branch office to acquire Saral Jeevan Bima
- Search out the information about the Saral Jeevan Bima Yojana and fill out the application form.
- Complete the application form with the relevant Information, including your date of birth, gender, and other needs information.
- Attach all of the Needs paperwork.
- Send the Saral Jeevan Bima Yojana application form to the life insurance company’s office.
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Online Process
- Visit to the website of the life insurance Given that provides the Saral Jeevan Bima Yojana.
- Search the Saral Jeevan Bima option on their website.
- A screen with the application form will Open.
- Fill in the relevant update. Also, make sure you Attach any important papers.
- To complete the application form submission, Press the submit button.
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