Simple life insurance policy
Saral Jeevan Bima Policy: If you are going to buy life insurance in the new year, then this news is for you. From the new year, all insurance companies are offering Saral Jeevan Bima. Its most important thing is that you can buy a term plan even at a low premium.
- January 17, 2021, 5:47 AM IST
The terms and conditions of all insurance companies will be the same, in which the sum assured and the premium will also be the same. The advantage of this will be that the possibility of dispute will be very less during the time of claim. While choosing the customer plan, compare the prices of this plan and the claim settlement ratio of different insurance companies.
What is simple life insurance?
Simple life insurance will be a full term life insurance product. Which people between 18 and 65 years will be able to buy. According to the guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI), the duration of these policies will be from 4 years to 40 years. According to the guidelines, you can buy a policy ranging from 5 lakh to 25 lakh in simple life insurance.Also read: Union Budget 2021: Taxpayers have high hopes from budget, relief can be given
45 days old policy will also get full cover
If the policyholder dies within 45 days after the policy is issued, payment will not be made in any other situation except death in accident. Under Saral Life Insurance, customers will not get any maturity benefit and surrender value also.
No claim will be found in case of suicide
After the death of the policy holder during the policy term, his nominee will get a claim equal to the sum assured. No claim will be received under this policy in case of suicide.
Also read: Budget 2021: Indian Chamber of Commerce demands government to waive interest for MSME
You can pay in three ways
There are three ways to pay for insurance. Single premium is an option to pay limited premium payment or regular life long monthly premium for a period of 5 10. Any person will be able to buy this policy and there will be no obligation or limitation related to gender, place of residence, educational qualification and occupation etc.