Saral Jeevan Bima Yojana: As we all know there are many insurance plans running in the market but people avoid these plans because of their tedious terms and conditions. So, the Insurance Regulatory and Development Authority of India has come up with a new insurance plan that will be easily understood by the general audience. The new insurance plan is called Saral Jeevan Bima Yojana 2022. Under सरल जीवन बीमा योजना, every individual can get himself insured regardless of the restrictions on travel, gender, occupation, place of Residence or educational qualification. So, today we are going to discuss the Standard Term Life Insurance-related details like eligibility criteria, objective, benefits, necessary documents required, etc. We will also share the step-by-step procedure to apply for the scheme. So, readers are advised to go through the article completely to get more details of the yojana.
Table of Contents
Saral Jeevan Bima Yojana
Standard Term Life Insurance was started by the IRDAI keeping in mind the increasing demand of the insurers. Under the सरल जीवन बीमा योजना, a fixed amount of money will be paid to the nominee after the death of the policyholder. It is a very simple and easy policy to understand as all the insurance providing companies will have the same terms and conditions. Different premium plans will be available for the audience like single premium, regular premium, and limited premium payment. Premium rates will be determined on the basis of various factors like age, the income of the policy buyer, gender, etc, and these rates will be calculated by the premium calculator. 18 and 65 years are the minimum and maximum age to buy the policy plans.
Saral Jeevan Bima Yojana From 1 April
Insurance Regulatory and Development Authority of India have started the policy for each and every citizen of the country. The yojana was started with the objective of providing simple and easy to understand terms and conditions so that it every citizen of the country can take the benefits of this Yojana. The Yojana has premium plans on annual basis ,half yearly basis, quarterly basis with a a minimum premium amount of 1000 rupees. So, the governing agency is planning to start the Yojana from 1st April 2022. Applicants who want to take the benefits of this scheme can apply from 1st April and take the benefits of this scheme.
Highlights of सरल जीवन बीमा योजना 2022
| Scheme Name | Saral Jeevan Bima Yojana |
| Launched by | Insurance Regulatory and Development Authority of India (IRDAI) |
| Objective | Providing easy life insurance to all citizens of India |
| Beneficiary | Citizens of India |
| Current Status | Active |
Saral Jeevan Bima Policy Details
The Yojana has been started for the average class audience so that they can easily understand the terms and conditions and avail of the benefits of the Yojana. Under this Yojana, applicants from the age 18- 45 years can apply. A minimum sum assured of rupees 5 lacs and a maximum sum assured of rupees 25 lacs will be provided in this Yojana. A waiting period of 45 days will be provided to the policyholder after the risk started. Such a product will help the customers to make an informed and wise choice and the trust will also be enhanced between the insurers and insured. There will not be any exclusion within the product apart from this suicide exclusion.
Standard Term Life Insurance Objective
The Yojana has been started with the objective of providing insurance to 1 and its citizens of the country without any entrance of terms and conditions. This Yojana has been kept quite simple and easy to understand by every citizen so that they can understand the benefits of the Yojana and avail of them. The policyholders can choose premium plans according to their requirements as three different premium plans are available under this yojana. If the policyholder is not happy with the product then he can easily cancel the product and get his refunds easily.
Saral Jeevan Bima Yojana Features and Benefits
- This Yojana has been started keeping in mind the increasing demand of the customers.
- The yojana has been started by the Insurance Regulatory and Development Authority of India.
- Under which Yojana, the name of the insurance will be prefixed to the name of the product.
- Saral Bima Policy is a very simple insurance policy that will pay the nominee a fixed amount of money after the death of the policy holder.
- Terms and conditions from all the insurance are the same and are very easy to understand.
- The Yojana has three premium plans called the premium, regular premium, and limited premium payment.
- The rate of these premium plans may vary from insurer to insurer.
- The age of 18-65 has been kept fixed by the regulatory body.
- The minimum sum assured provided will be 5 lakh.
- The maximum sum insured provided will be 25 lacs.
- A waiting period of 45 days will be provided after the risk starts i.e. from the quality assurance.
- Any policyholder can get himself insured regardless of the restrictions on travel, gender, occupation, place of Residence, or educational qualification.
- Premiums can increase by 4-8% each year after your birthday.
- There will not be any exclusion within the product apart from the suicide exclusion.
- The premium rate of the Yojana will be determined on various factors like age, the income of the policy buyer, gender, etc.
- The minimum term is 5 years and the maximum policy term is 40 years.
- No maturity benefits will be provided under this Yojana.
- No loan will be permitted against this policy.
सरल जीवन बीमा योजना Eligibility
- To apply for the yojana, the applicant must be a permanent resident of India.
- The minimum entry age for the policyholder is 18 years
- The maximum entry age the policyholder is 65 years.
- Policy benefits will not be provided in case of suicide.
Documents Required
- Address Proof (Aadhar Card, Passport, Driving License)
- Passport Size Photograph
- Mobile Number
- Identity Proof
Pradhan Mantri Suraksha Bima Yojana 2022
Saral Jeevan Bima Yojana Online Application Procedure
- First of all, go to the official website of any Life Insurance Company which provides a bima plan.
- The homepage of the website will open on the screen.
- Now from the homepage, click on the Saral Jeevan Bima Insurance Plan link.
- Click on the Apply Online option.
- A new application form will open on the screen.
- Provide all the details to be filled-in in the application form like Name, Gender, Age, Address, etc.
- Upload the mandatory documents to be shared.
- Check all the details before final submission.
- Now click on the submit option.
- Your application form will be submitted.
सरल जीवन बीमा योजना Offline Application Procedure
- First of all, go to the nearest office of any Life Insurance Company.
- Get detailed information about the plan.
- Take the application form from the concerned office.
- Provide all the details to be filled-in in the application form.
- Attach all the mandatory documents with the application form.
- Check the application form before final submission.
- Now submit the application form to the office from where you have taken the application form.