LIC Saral Jeevan Bima Plan 859

A Non-Linked, Non-Participating, Individual, Pure Risk Life Insurance plan.

LIC Saral Jeevan Bima Plan 859 is a straightforward and non-linked term insurance plan launched by LIC to provide pure risk coverage to individuals across all sections of society. This plan ensures financial protection for your family in case of the unfortunate demise of the policyholder during the policy term. It comes with flexible policy terms ranging from 5 to 40 years and offers sum assured starting from ₹5 lakhs. With simple eligibility criteria and affordable premiums, LIC Saral Jeevan Bima is ideal for first-time insurance buyers. The plan does not offer maturity or survival benefits, keeping the focus solely on life cover. Optional rider benefits like Accidental Death Benefit can also be added for enhanced protection. This plan reflects LIC’s commitment to providing accessible and inclusive insurance to every Indian citizen.

Pure Risk Premium Life Insurance Plan

It offers a financial protective shield against an untimely death of the life assured during the Policy Term.

Limited Premium term available

You can pay premiums only for a limited number of years within the policy term.

Advantages of LIC Saral Jeevan Bima Plan 859

Tension Free Claim Settlement

Death Benefit during Waiting period

Eligibility Criteria:

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 Date of Commencement of 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 of LIC Saral Jeevan Bima Plan 859 :

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

Some key points about LIC Saral Jeevan Bima Plan 859:

• Type of Plan:
  Pure term life insurance (non-linked, non-participating).
• Objective:
  Provides financial protection to the nominee in case of the policyholder’s death during the policy term.
• Eligibility Age:
  Minimum: 18 years | Maximum: 65 years
• Policy Term:
  5 to 40 years
• Sum Assured:
  Minimum: ₹5 lakhs | Maximum: No upper limit (in multiples of ₹50,000)
• Premium Payment Options:
  Regular, Limited, or Single premium payment modes available.
• Maturity Benefit:
  No maturity or survival benefit is payable — this is a pure protection plan.
• Rider Option:
  Accidental Death Benefit Rider can be added for extra coverage.
• Waiting Period:
  45 days from the date of commencement of risk (only accidental death is covered during this period).
• Loan & Surrender:
  Loan facility is not available. Surrender value is available only for single or limited premium options.
• Ideal For:
  Individuals looking for a simple, affordable, and reliable term insurance with fewer complexities.

No medical hassles for low sum assured – Simple documentation and easy issuance make it ideal for first-time buyers.

Uniform features across all insurers – As a standard term plan, it ensures transparency and easy comparison for better decision-making.

See Our More Plan here