Why Choose LIC Saral Jeevan Bima Plan 859? A Complete Guide
Life insurance is a crucial financial tool that provides security to your loved ones in case of any unforeseen circumstances. Among the many life insurance plans available, LIC Saral Jeevan Bima Plan 859 stands out as a simple and affordable term insurance policy. This plan is designed for individuals looking for a no-frills, easy-to-understand insurance cover that ensures their family’s financial stability in their absence.
In this comprehensive guide, we will explore the features, benefits, eligibility criteria, and reasons why LIC Saral Jeevan Bima Plan 859 is a great choice.
What is LIC Saral Jeevan Bima Plan 859?
LIC Saral Jeevan Bima Plan 859 is a pure term insurance plan launched by Life Insurance Corporation of India (LIC). It is a non-linked, non-participating policy, meaning it does not offer maturity benefits but provides financial coverage to the nominee in case of the policyholder’s death. This plan is designed for individuals from all walks of life, making term insurance accessible even for those without a high-income background.
Key Features of LIC Saral Jeevan Bima Plan 859
✔ Affordable Premiums: Get high coverage at lower premiums. ✔ Simple Eligibility: No complex conditions or income restrictions. ✔ Flexible Policy Term: Choose from 5 to 40 years as per your need. ✔ Sum Assured: Minimum ₹5 lakh and maximum ₹25 lakh. ✔ Death Benefit: Sum assured is paid to the nominee in case of death during the policy term. ✔ No Maturity Benefit: Since this is a pure protection plan, there are no maturity returns. ✔ Flexible Premium Payment: Options include Single, Regular, and Limited premium payment terms. ✔ Waiting Period: Initial 45-day waiting period from the date of commencement of risk (excluding accidental death). ✔ Tax Benefits: Premiums paid qualify for deductions under Section 80C of the Income Tax Act, 1961.
Benefits of LIC Saral Jeevan Bima Plan 859
✅ Financial Security for Your Family – In case of an unfortunate demise, the policy ensures that your family receives the sum assured, helping them manage expenses and maintain financial stability.
✅ Easy to Understand – Unlike other insurance plans with complicated terms, this plan is simple and clear, making it accessible to everyone.
✅ No Medical Check-up (for Lower Sum Assured) – Depending on your age and coverage amount, some cases may not require extensive medical examinations.
✅ Flexible Coverage Options – You can choose the sum assured and policy tenure based on your needs and affordability.
✅ Tax Savings – Premiums paid under this plan are eligible for tax benefits under Section 80C, and the death benefit is tax-free under Section 10(10D).
Eligibility Criteria for LIC Saral Jeevan Bima Plan 859
| Criteria | Details |
|---|---|
| Minimum Entry Age | 18 years |
| Maximum Entry Age | 65 years |
| Minimum Policy Term | 5 years |
| Maximum Policy Term | 40 years |
| Minimum Sum Assured | ₹5,00,000 |
| Maximum Sum Assured | ₹25,00,000 |
| Waiting Period | 45 days |
| Premium Payment Mode | Yearly, Half-Yearly, Quarterly, Monthly, Single Pay |
Why Should You Choose LIC Saral Jeevan Bima Plan 859?
✔ Trust of LIC – Being India’s most trusted insurance provider, LIC offers credibility and reliability.
✔ Affordable Premiums – Compared to other term plans, this is an economical choice for individuals looking for a pure protection plan.
✔ No Complex Conditions – Simple eligibility and benefits make it ideal for first-time insurance buyers.
✔ No Restrictions on Occupation – Unlike some term plans, this policy is available for self-employed, salaried individuals, and even those in high-risk jobs.
✔ Customizable Premium Payment Options – Choose a premium payment mode that best suits your financial planning.
How to Buy LIC Saral Jeevan Bima Plan 859?
1️⃣ Visit LIC’s Official Website or contact a licensed LIC agent.
2️⃣ Choose Your Coverage Amount and Policy Term based on your financial needs.
3️⃣ Fill Out the Application Form with personal and nominee details.
4️⃣ Undergo a Medical Check-up (if required based on age and sum assured).
5️⃣ Pay the Premium through online or offline modes.
6️⃣ Receive Your Policy Document digitally or physically.
Final Thoughts
LIC Saral Jeevan Bima Plan 859 is an excellent choice for individuals seeking a hassle-free, affordable, and reliable life insurance plan. It provides essential financial protection for your family in case of an untimely demise, ensuring their stability and well-being. With LIC’s trust and simple features, this policy is a great option for anyone looking for a straightforward term insurance plan.
If you are looking for a secure and cost-effective way to safeguard your family’s future, LIC Saral Jeevan Bima Plan 859 is definitely worth considering.
For more details and assistance in buying this policy, contact LICFuture today!
