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Saral Jeevan Bima Yojana 2021: Premium Calculator, Guidelines, Online Registration, Eligibility and Benefits

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Short Info: सरल जीवन बीमा योजना 2021 ऑनलाइन रजिस्ट्रेशन | सरल जीवन बीमा योजना पात्रता व लाभ in Hindi – [Apply Online] Saral Jeevan Bima Yojana (SJBY) 2021 ICICI Prudential Life Insurance, LIC and Tata AIA Life – Saral Jeevan Bima Policy Online Registration, Premium Calculator, Guidelines, Saral Jivan Beema Application Form PDF Download, Eligibility, Payment/ Amount Status, Features, Benefits and Check Online Application Status at Official Website www.irdai.gov.in.

Short Scheme Details:
Name of Scheme Saral Jeevan Bima Yojana
Application Status Active
Scheme Benefit A cover with standard wording for sum insured ranging from Rs 5 lakh to Rs 25 lakh.
Scheme Published On 12/22/2020
Scheme Updated on  04/08/2021

Table of Content

सरल जीवन बीमा योजना 2021: Saral Jeevan Bima Yojana Premium Calculator, Guidelines, News Update

Latest News Update: Irdai’s Saral Jeevan Bima Yojana Premium Calculator, Guidelines
  • On the instructions of the Insurance Regulatory and Development Authority of India (IRDA), all insurance companies are offering simple life insurance policies.
  • Insurers set to launch standard term cover-Saral from January 1. All you need to know

Saral Jeevan Bima Yojana 2021 Apply Online @www.irdai.gov.in

Summary: In this period of worldwide corona epidemic, the importance of insurance policies has increased more than before.

This will be a pure protection plan with sum insured from Rs 5 lakh upwards – with no market-links or maturity benefits. All 24 life insurance companies in India will be offering “Saral Jeevan Bima” with each insurer’s name as a suffix to the policy.

All insurance companies are offering Saral Jeevan Bima Yojana (सरल जीवन बीमा योजना) on the instructions of the Insurance Regulatory and Development Authority of India (IRDA). IRDA had directed to make term life insurance an affordable option for all people.

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All Applicants who are willing to apply online application then download the official notification and read all eligibility criteria and application process carefully. We will provide short information about “Saral Jeevan Bima Yojana 2021” like Scheme Benefit, Eligibility Criteria, Key Features of Scheme, Application Status, Application process and more.

Saral Jeevan Bima Yojana 2021 – Overview
Name of Scheme Saral Jeevan Bima Yojana (SJBY)
in Language सरल जीवन बीमा योजना
Launched by Insurance Regulatory and Development Authority of India (IRDAI)
Beneficiaries Citizens of India
Major Benefit A cover with standard wording for sum insured ranging from Rs 5 lakh to Rs 25 lakh.
Scheme Objective Providing simple insurance cover.
Scheme under State Government
Name of State All India
Post Category Scheme/ Yojana/ Yojna
Official Website www.irdai.gov.in
Important Dates
Event Dates
Starting Date to Apply Online January 2021
Last Date to Apply Online
Important Links
Event Links
Apply Online – Not Available Registration Login
Notification – Not Available Click Here
Saral Jeevan Bima Yojana 2021 Official Website

Saral Jeevan Bima Policy Online Registration Process

Life insurance companies are preparing to launch Saral- a standard term policy that has been designed by the regulator, from January 1, 2021, which is expected to trigger a price war among insurers and buyers are likely to get a bargain deal.

The policy term is for five to 40 years and he/she has the option to pay premium regularly, or for a limited period (5-10 years), or as a single payment (lumpsum). The premium payment can be made either monthly, quarterly, half-yearly or yearly. The minimum sum assured (SA) is 5 lakh and the maximum cover can go up to 25 lakh.

All Eligible Applicants who want to apply to this scheme then read all instructions carefully and follow the given below steps to apply online application form:

Procedure to Apply Online Saral Jeevan Bima Yojana Application Form 2021

Step 1- Visit the Official Website of Saral Jeevan Bima Yojana offering Insurance Company i.e.  ICICI Prudential Life Insurance, LIC and Tata AIA Life.

Step 2- On the Homepage, Click on the Option “Saral Jeevan Bima Policy Insurance Plan” Link.

Now, Click on the Apply Online button and go to the application page.

Step 3- The application Form page will be displayed on the screen.

Step 4- Now enter the required details (Mention all the details such as name, father/ husband name, date of birth, gender and other information) and upload important documents.

Step 5- Click on Submit Button for the final submission of the application.

Procedure for applying offline under Saral Jeevan Bima Yojana 2021

Step 1- First, Visit the nearest office of the insurance company where you want to buy a Saral Jeevan Bima Yojana.

Step 2- Now ask them for details about Saral Jeevan Bima Yojana and take the application form.

Step 3- Now fill in the necessary details (Mention all the details such as name, father/ husband name, date of birth, gender and other information).

Step 4- After this, you will have to attach all the important documents.

Step 5- Now you have to submit this application form to the insurance company office.

Step 6- Thus you will be able to apply under this scheme.

Required Document for Saral Jeevan Bima Yojana

Important Document to Apply Online
  • Aadhar Card
  • Residence certificate
  • Passport size photograph
  • Mobile number

Saral Jeevan Bima Policy Eligibility Criteria

Beneficiary Guidelines
  • The applicant must be a permanent resident of India.
  • The Applicant’s minimum age should be 18 years and the maximum age should be 65 years.

Saral Jeevan Bima Yojana 2021: Online Application Form

ABOUT SCHEME
Saral Jeevan Bima Yojana 2021: Online Application Form PDF Download – The Insurance Regulatory and Development Authority of India (IRDA) has directed life insurance companies to introduce a standard ‘simple life insurance’ policy by 1 January 2021. Such a policy will help customers to take better decisions.

Saral Jeevan Bima policy premium calculator

In October, the Insurance Regulatory and Development Authority of India (Irdai) directed all life insurers to start selling from January 1, 2021 the Saral Jeevan Bima — a cover with standard wording for sum insured ranging from Rs 5 lakh to Rs 25 lakh. 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.

Highlights of Insurance

  • Irda said that the ‘Saral Life Insurance’ policy would be purely a term life insurance plan.
  • It can be taken by anyone between 18 and 65 years of age.
  • Its duration will be from four to 40 years.
  • According to the guidelines, under this insurance scheme, a person can get insurance ranging from Rs 5 lakh to Rs 25 lakh.
  • It will be in multiples of Rs 50,000.

Important Note:

Keep in mind that if the policyholder dies within 45 days after the issuance of the policy, payment will not be made in any other situation except death in an accident. Under Saral Life Insurance, customers will not get any maturity benefit and surrender value also.

Leading insurance companies like ICICI Prudential Life Insurance, LIC and Tata AIA Life are all set to launch this product from next month to meet the demand from customers. The Times of India citing N S Kannan, MD & CEO, ICICI Prudential Life Insurance, mentioned in a report that there has been a 70% increase in online search for ‘term insurance’ during the pandemic. “Retail sum insured has gone up by 5-6% during this period. Sum insured is growing ahead of GDP, which is good news for industry,” said Kannan. 

Objectives of Saral Jeevan Bima Yojana 2021

SCHEME OBJECTIVE
  • Term insurance is a must-have life cover for an individual. The main objective of launching a standard term product is to ensure that it is simple to select and easy to purchase.
  • India’s middle class is the main target customer of this policy, which is not adiquately covered right now. At present, there are around six crore people filing income tax returns, but only sixty lakh hold term insurance policies, indicating an insurance penetration of 10%.

Key Features & Major Benefits of Scheme

SCHEME FEATURES & BENEFICIARY BENEFITS
  • Life cover is provided to the beneficiary under this scheme.
  • The scheme will be launched by all insurance companies from 1 January 2021.
  • Life cover amount is given to the nominee after the death of the beneficiary.
  • Any individual aged between 18 and 65 years can buy this policy.
  • Simple terms and conditions have been laid under this scheme.
  • Suicide is not covered under Saral Life Insurance Scheme.
  • The term of the policy will be from 5 to 40 years, which can be purchased for a maximum maturity age of 70 years.
  • There will be a sum assured of a minimum of Rs 5 lakh and a maximum of Rs 25 lakh.
  • It will be a ‘non-linked’ and ‘pure risk term life insurance plan’.
  • If the policyholder dies during the policy period, his or her dependents will be paid the entire sum assured.
  • This policy will have a standard wording for sum insured so that it wil be easier for buyers and they don’t need to check the fine print of the policy.
  • Because of the standard features, distributors will not be having much difficulty in explaining the product to their customers.
  • There is no provision of any gender, place of residence, travel, occupation or educational qualification to purchase this life insurance plan.

Helpline Number 

HELPLINE NUMBER & CONTACT ADDRESS
  • Insurance Regulatory and Development Authority of India
  • Sy No. 115/1, Financial District, Nanakramguda, Gachibowli, Hyderabad – 500032
  • Ph: +91-40-20204000/+91 40-39328000 e-mail: irda@irdai.gov.in

9 thoughts on “Saral Jeevan Bima Yojana 2021: Premium Calculator, Guidelines, Online Registration, Eligibility and Benefits”

  1. My present age is 58 years
    I Want insu,cover for 20.00 lacs
    premium paynet yearly upto 70 years of age
    ler me know my yearly premium

    Reply
  2. I am 43 years old have suffered from MI myocardial infaction approx 2 year back and having stunting too .. Can I take this policy now

    Reply

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