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Term InsurancePlan 859NRI Eligible

LIC Saral Jeevan Bima

IRDAI mandated simple term plan, no confusion

What is LIC Saral Jeevan Bima?

LIC Saral Jeevan Bima (Plan 859, UIN 512N341V01) is a pure term insurance plan from Life Insurance Corporation of India. It is a non-participating pure risk plan: there are no bonuses and no share in LIC's surplus, which is exactly why the premium stays low for the cover it buys.

Premiums are paid through the policy term, in yearly, half-yearly, quarterly or monthly mode. If the policyholder dies during the term, the nominee receives: Sum Assured paid to nominee. There is no maturity or survival payout; the plan is pure protection.

It suits people looking for pure protection, simple insurance and budget-friendly. NRIs can buy this plan too.

Key Highlights

IRDAI mandated, same features across all insurers
Simple terms, no hidden conditions
₹5L to ₹25L coverage range
Ideal for basic life cover

Benefits Explained Simply

If Something Happens to You (Death Benefit)

Sum Assured paid to nominee

When the Plan Matures (Maturity Benefit)

None, pure protection

Eligibility & Details

Minimum Entry Age18 years (completed)
Maximum Entry Age65 years
Minimum Sum Assured₹5,00,000
Maximum Sum Assured₹25,00,000
Policy Term5, 6, 7, 8, 9, 10, 15, 20, 25, 30, 35, 40 years
Premium Paying Term5, 6, 7, 8, 9, 10, 15, 20, 25, 30, 35, 40 years
Bonus Typenone
Risk Levellow
NRI EligibleYes

Tax Benefits

  • Section 80C deduction on premiums

Premium Rates (Indicative)

Age25 years
25 yrs₹3,850
30 yrs₹4,670
35 yrs₹6,110
40 yrs₹8,340
45 yrs₹11,660

VERIFIED from official LIC Sales Brochure. IRDAI standard term plan. Regular premium, PT 25, offline rates, ₹10 lakh BSA. Online rebate: 5-7% depending on PPT. 45-day waiting period. Min BSA ₹5L, Max ₹25L.

Source: LIC Official Sales Brochure | Data last verified: 21 March 2026

Example: What You Could Get

If a 30-year-old buys this plan with ₹10 lakh sum assured, 25-year term:

Annual Premium

₹4,670

Total Paid (25 yrs)

₹1,16,750

Death Benefit

₹10,00,000

No maturity benefit (pure protection)

Who is This Plan Best For?

pure protectionsimple insurancebudget-friendly

Frequently Asked Questions

What is LIC Saral Jeevan Bima (Plan 859)?

LIC Saral Jeevan Bima is a term insurance plan from Life Insurance Corporation of India. IRDAI mandated simple term plan, no confusion.

What is the eligibility age for LIC Saral Jeevan Bima?

Entry age is between 18 and 65 years. Policy term: 5 to 40 years. Premium paying term: 5 to 40 years.

What is the minimum sum assured for LIC Saral Jeevan Bima?

Minimum sum assured is ₹5,00,000. Maximum: ₹25,00,000.

What are the tax benefits of LIC Saral Jeevan Bima?

Section 80C deduction on premiums.

Is LIC Saral Jeevan Bima available for NRIs?

Yes. LIC Saral Jeevan Bima is available to Non-Resident Indians. NRIs can buy this plan during a visit to India or through power of attorney.

What happens if I stop paying premiums on LIC Saral Jeevan Bima?

If you stop paying premiums before 3 years, the policy lapses and you lose all benefits. After 3 years of premium payments, the policy acquires a paid-up value and you receive a reduced sum assured. You can also revive a lapsed policy within 5 years by paying outstanding premiums plus interest.

The information above is for educational purposes only. Actual premiums, benefits, and terms are as per LIC of India. For official and complete details, visit licindia.in.

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