Saral Jeevan Bima - Coverage & Benefits of Saral Jeevan Bima Yojana - Edelweiss Tokio
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The Path to Protection for You and Your Family Starts Here.
Introducing, Edelweiss Tokio Life Saral Jeevan Bima
Life Insurance is a simple concept. You buy a plan now and that will protect your family’s future from unforeseen events. But many times, people find a term plan complex and difficult to understand. We want to break this misunderstanding by presenting an easy life insurance plan – Edelweiss Tokio Life Saral Jeevan Bima.
Let’s look at Jai’s story
Jai is a 28-year old IT professional who got recently married. He wants to plan for the security of his wife and their future family with a life insurance plan that is simple and easy to understand. He came across Edelweiss Tokio Life Saral Jeevan Bima which seemed to meet all his protection requirements.
Saral Jeevan Bima offers Jai the option to go for Limited Pay which means that he does not have to pay his premiums in his later years and can continue to enjoy the plan benefits for the long time.
He also has the full flexibility to choose his life policy term between 5 to 40 years and choose his life cover between the range of Rs. 5 lacs to Rs. 25 lacs.
Benefits so good, they have to be true!
Life Cover
Life Cover
Protect your family’s financial future with a life insurance plan that also covers death due to COVID-19.
Life Cover
Flexible Policy Term and Life Cover
You have flexibility to choose policy term between 5 to 40 years and life cover between Rs 5 lacs to Rs 25 lacs.
Flexible Policy Term and Life Cover
Depending on your protection needs, you can choose the policy term and life cover that suits you. With the flexible plan options of Saral Jeevan Bima, you will be able to customize your policy term from a range of 5 to 40 years. You also get the option to choose a life cover between the range of Rs. 5 lacs to Rs, 25 lacs, in multiples of 50,000.
Flexible Premium Paying Term and Mode
Choose from – Regular, Limited and Single Pay options and three payment modes – Monthly, Half-Yearly, Yearly.
Flexible Premium Paying Term and Mode
You can choose a premium payment term option and mode that is most convenient for you. Single Pay allows you to pay you entire premium in one go. With Regular Pay, you can pay your premiums throughout your policy term. With Limited Pay, you can either pay your premiums in 5 or 10 years and enjoy a hassle-free retired life. For Regular and Limited Pay, you can choose your premium payment frequency as yearly, half-yearly or monthly.
Tax Benefits¹
You can avail tax benefits on premium paid u/s 80(C) and on the benefit received u/s 10(10D).
Tax Benefits¹
The tax benefits under this Policy may be available as per the prevailing Income Tax laws in India and any amendment(s) made thereto from time to time.
1- As per provisions of Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.
Here are the rules! Ask us if any doubts.
Edelweiss Tokio Life – Saral Jeevan Bima is a simple and easy-to-navigate life insurance plan. Plan designed to provide protection to your family. It not only covers your present requirements but also provides the flexibility. You can customise this plan by choosing a convenient Premium Paying Term, mode of payment and the desired coverage.
Yes, this plan covers death due to COVID-19.
Every increase in your income leads to an enhanced lifestyle for you and your family. It is important that this financial support is secured in case of an unfortunate event. A term insurance plan ensures that in a scenario where the breadwinner is no more, his/her dependents are provided the financial support required to maintain their lifestyle.
For Regular Pay and Limited Pay, you can decide to pay your premiums yearly, half yearly, quarterly or monthly.
The free look period offered is 15 days from the date of receiving your policy. For policies sold through distance marketing, the free look period is of 30 days.
In case of death due to suicide within 12 months from the Risk Commencement Date or from the date of Revival of the policy, your Nominee or the Beneficiary you have chosen shall be entitled to at least 80% of the total Premiums paid, provided the Policy is in force.
The minimum policy term is 5 years and the maximum policy term is 40 years.
The minimum entry age is 18 years and maximum entry age is 65 years.
For a Regular Pay plan, you need to pay your premiums for the same duration as that of your policy term. For Limited Pay you can pay the premium till 5 or 10 years. For Single Pay you have to pay only once.
The minimum maturity age is 23 years and the maximum maturity age is 70 years.
The minimum sum assured is Rs.5,00,000 and the maximum sum assured Rs 25,00,000, subject to board approved underwriting policy.
On death of the Life Assured, the Death Benefit amount is payable as a lump sum to the nominee, provided the Policy is in force.
As this is a pure term plan, no benefit is payable on maturity.
Surrender value is not applicable under this Policy.
Additional resources
