LIC Jeevan Saral Details Plan 165
LIC Jeevan Saral Plan 165 is a withdrawn LIC plan that was very popular due to its unique and flexible structure. Many people still have active Jeevan Saral policies and want to know their maturity amount.
What is LIC Jeevan Saral?
Jeevan Saral was a non-linked endowment plan with a unique feature — the death benefit was much higher than the maturity benefit. It was sold from 2004 to 2014 and then withdrawn.
Key Features
| Feature | Details |
|---|---|
| Plan Number | 165 |
| Status | Withdrawn (but existing policies continue) |
| Entry Age | 12 to 60 years |
| Policy Term | 10 to 35 years |
| Unique Feature | Death benefit = 250 × Monthly Premium (very high) |
How Death Benefit Works (Unique Formula)
Example: Monthly Premium = ₹2,000
Death Benefit = 250 × 2,000 = ₹5,00,000
This is much higher than the premium paid, making it excellent for life coverage.
Maturity Benefit Formula
Maturity Sum Assured is mentioned in your policy bond (it is less than the death benefit Sum Assured).
Loyalty Addition is a bonus added by LIC at the end of the policy.
Real Example
- Monthly Premium: ₹2,000 (yearly = ₹24,000)
- Policy Term: 20 years
- Death Benefit Sum Assured: ₹5,00,000 (250 × 2000)
- Maturity Sum Assured: Approx ₹1,50,000 – ₹2,00,000
- Loyalty Addition: Approx ₹1,20,000 – ₹1,80,000
- Total Maturity Amount (approx): ₹2,70,000 – ₹3,80,000
- Total Premium Paid: ₹4,80,000
Why Jeevan Saral Was Popular
- Flexible premium amount (you choose how much to pay)
- Very high death benefit compared to premium
- Easy to understand premium-linked structure
Why Was It Withdrawn?
- Maturity returns were often less than premiums paid (loss for policyholders)
- IRDAI asked LIC to redesign the product
If You Already Have Jeevan Saral
If you already have an active Jeevan Saral policy:
- Do not surrender unless absolutely necessary
- Check your maturity date in the policy bond
- Use our calculator to estimate your maturity amount
- Loyalty Addition is added only if you hold till maturity
Should You Surrender Jeevan Saral?
Disclaimer: This information is for education. Maturity amount depends on LIC's Loyalty Addition declared at maturity time. Consult your LIC agent for exact figures.