What Do You Need to Know about Saral Jeevan Bima Plan?

What Do You Need to Know about Saral Jeevan Bima Plan?

The Saral Jeevan Bima is a pure-risk cover nonparticipating, non-linked term life insurance policy. It is meant to provide insurance coverage as a sum-assured amount to the nominee in the event of the policyholder’s ill-timed departure during the policy term. As it is a pureterm insurance plan so it doesn’t incorporate any surrenders value.

It also doesn’t retain a maturity benefit. Individuals who are not struggling with any sort of issues regarding educational

qualifications,

age,

gender,

place

of

residence, or occupation are eligible to access this policy.

The primary intention behind launching this policy is to

help customers make a well-versed choice. Saral Jeevan Bima Plan is a normal term insurance plan that one can purchase at affordable premium rates.

A List of Astonishing Benefits of Saral Jeevan Bima If you are wondering why you need to Buy Saral Jeevan Bima Plan online, then given below are some of the major benefits that can come with this remarkable policy: Coverage of Death Due to Covid-19: IRDAI has devised Saral Jeevan Bima without forgetting COVID-19. Saral Jeevan Bima is a protection plan that covers death caused by COVID-19.

Death Benefit: Saral Jeevan Bima, the standard term plan provides the sum assured amount to the beneficiary in case of the ill-fated death of the life assured. Death benefit aids the dependents of the deceased life assured

to tackle the financial predicaments that may surface.

The amount that the family will get will help them manage their expenses efficiently.

Tax Benefits: Under Section 80C of the Income Tax Act, 1961, premium payments done for Saral Jeevan Bima are qualified for tax deductions. This policy helps you enjoy tax benefits.

Waiting Period: Saral Jeevan Bima retains a waiting period of 45 days from the date of commencement of risk. The waiting period doesn’t apply if the policy is revived. Saral Jeevan Bima also delivers cover for death caused by an accident, during the waiting period of 45 days.

What documents do I need to submit for the application of Saral Jeevan Bima Policy?

Following are some mandatory documents demanded to purchase Saral Jeevan Bima: Duly Filled and Signed Proposal Form KYC Documents of the Applicant (Aadhaar Card, Pan Card, Voter ID Card, Passport, and more.)

Address Proof of the Applicant (Latest Electricity Bills, Water Bills, Gas Bills, etc.)

Latest Salary Slips Passport Size Photographs Recent Medical Examinations/Records Who Should Buy the Saral Jeevan Bima Policy?

People who are looking for a pure protection plan need to Check Saral Jeevan Bima Plan online, and then purchase it. A potential buyer will not face any limitations based on gender, academic qualification,

occupation, or place of residence. Keep in mind that the minimum entry age for the Saral Jeevan Bima insurance is 18 years, the maximum entry age for it is 65 years. The maximum maturity age for the Saral Jeevan Bima Policy is 70 years. So, any person within the bracket can easily purchase the Saral Jeevan Bima plan without worrying about any concerns.

One of the important things to remember is that people who don’t sustain a stable flow of income and have incomplete income proof can are entitled to secure themselves and their loved ones by investing in the Saral Jeevan Bima plan. Any individual who wishes to purchase a term plan with a policy term varying from 5 to 40 years can also opt for this plan to get themselves and their dependents covered for a long time.

Why Does Saral Jeevan Bima Make an Ideal Choice for You?

If you are buying term insurance for the first time, Saral Jeevan Bima Plan would become the perfect choice for you. As it is a typical term insurance plan so you can purchase it hassle-free either online or from any insurance company. Though, do not let this aspect slip away from your mind that while the features and benefits of the policy may stay the same across all insurance companies, it is the premium amount that could differ. Make sure to read policy’s documents thoroughly to avoid any unpleasant surprises.

Without any doubt, Saral Jeevan Bima makes an amazing choice for those policy buyers who are not willing to engross themselves in the complications of term insurance plans that are usually available across distinctive insurance companies. In Saral Jeevan Bima, you won’t stumble upon any complications concerning inclusions or exclusions, or any other policy terms.

You will find the wording of the Saral Jeevan Bima Plan easy to understand and follow, leaving no room for any doubt. And the best part is that it comes with a free-look period of 15 days that begins from the date of receipt of the policy documents and shall be provided to the policyholder, in case he/she is not pleased with the policy’s terms and conditions. Though this plan is simple but still it is jam-packed with an array of beneficial features.