Monday, June 19, 2017

How to Calculate LIC Jeevan Saral Returns

How to Calculate LIC Jeevan Saral Returns


Suppose you have taken a Jeevan Saral  plan for 4704 Rs yearly premium  with a term of  25 years providing you with an sum assured of Rs 1 Lakh (100,000) . Then at the end of 25 years  your policy value will be Rs 1,35,296 + Loyality additions ( From year 11 to 25) which you receive after completing 10 years with the policy. 

LIC Jeevan Saral Bonus 2011-2012

There have been two bonus announced for Jeevan Saral policy in 2011 and in 2012.The values are
250 per thousand sum assured for a period of 10 years happening in 2011.
250 per thousand sum assured for a period of 10 years happening in 2012 and 300 per thousand sum assured for a period of 11 years happening in 2012. These are only applicable for death claims

LIC Jeevan Saral Bonus Calculations.

Based on our example above for a sum assured of Rs 100,000 after 10 years of policy the total premium paid will be Rs 47,040  and the death sum assured will be 1,43,200 + Loyalty bonus. In this case  Loyality bonus will be 25,000 . So after 10 years your Death sum assured has increased from 100,000 to Rs 1,68,200 .

LIC Jeevan Saral Surrender Value after 10 years..

However if you surrender the policy after 10 years you will get Rs 43,360 + Loyalty Bonus only. This Loyality Bonus will be different then mentioned above and is calculated as a discounted value of the 25 year maturity value. While LIC disallows this but for sake of assumption if we take 25,000 as the LIC bonus and discount it we should get a bonus value of Rs 5,985. So Approximately after 10 years a LIC jeevan Saral Surrender value will be Rs 49,345 on a premium paid of Rs 47,040 though death sum assured will be Rs 168,200

LIC Jeevan Saral Rate of return.

so far the rate of return cannot be calculated accurately on LIC Jeevan saral policy . Though expect it be close to 6% similar to other LIC policies.
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63 comments:

  1. AjitMay 21, 2013 at 9:27 PM

    Hi,
    If I kept the Jeevan saral policy as paid up after 3 years, what would I get at the end of the term? if my premium paid per year is 24000, can u tell me the calculation formula with example?

    ReplyDelete
  2. AbhijeetJuly 6, 2013 at 10:00 PM

    Ajit, You would get (n/T)*S.A. after T years. where, n is the number of premiums paid till date, T is the term of policy in years, and S.A. is sum assured.
    If I assume your SA=5,00,000 & term of policy=21 years, & number of premiums paid = 3; ur paid up value will be (3/21)*5,00,000 = 71,428.57/-
    You will get this amount at the end of ur policy term (which is same as amount you have paid till date). But at the end of policy term, say 21 years, this would be equivalent to 7000/- (just a random value-What I am stressing is its value in the future would be negligible).

    ReplyDelete
  3. AnonymousJuly 15, 2013 at 11:57 AM

    Hi,

    I purchased a Jeevan Saral policy in October 2009 with an annual premium of 72,060. I have paid four premiums till now and would like to surrender the policy. Can you please advice me about the surrender value now and if there is any benefit in surrendering after paying the fifth year premium this October. Thanks

    ReplyDelete
  4. AnonymousJuly 16, 2013 at 3:23 PM

    i bought a jeevan saral policy in march 2010 with a monthly premium of 4083/- Policy term is 16years(premium payment term is also 16) S.A is 10,00,000/- but MSA is 8,00,000/-how does this happen? If i surrender this policy in 2017 (ie after 7 years of premium paying) how much surrender value will i get?. Is it beneficial for me to surrender this policy on 2015?. should i continue this policy?

    ReplyDelete
    Replies
    1. UnknownJanuary 22, 2016 at 1:12 PM

      LIC IS INDEED ONE WAY TRACK ONCE YOU HAVE GOT YOUR MONEY IN YOU CANNOT REVERT BACK, THERE IS VAST DIFFERENCE BETWEEN WHAT THE AGENTS TELL YOU AND WHAT YOU GET ON PAPER, NOWHERE IN THE DOCUMENTS YOU GOT IS WRITTEN ABOUT THE LOYALTY ADDITION, THE MSA VALUE IS THE ONLY AMOUNT ASSURED THERE WILL BE LOYALTY ADDITON BUT VERY NOMINAL, YOU WILL GET 4-5% RETURN ON YOUR INVESTMENT, INDEED LIC HAD NEVER BEEN AN INVESTMENT PLAN, SURRENDERING THE LIC WILL CAUSE YOU HUGE LOSS, YOU CAN GO TO YOUR BRANCH AND ENQUIRE. THE CALCULATION ARE VERY COMPLEX AND NOT EASY TO UNDERSATND.ALSO THE VERY FIRST ANNUAL PREMIUM YOU GIVE, LARGER PART OF IT GOES TO AGENT COMISSION, BETTER CARRY THE LIC TILL MATURITY.

      Delete
  5. AnonymousSeptember 23, 2013 at 7:34 PM

    I want to take policy for my parents...their age is 55...i want to take jeevan saral policy for 13 years...and premium of 1000rs/month....can u tell me wat ill be the MSA and sum assured...

    ReplyDelete
  6. KRANTIVIR RAJPUTOctober 18, 2013 at 10:58 PM

    The LA (Loyalty Addition) is based on MSA (Maturity Sum Assured).
    LA = (BONUS-RATE * MSA)/1000. The MSA is also Printed along with SA (Sum Assured) in the POLICY DOCUMENT.

    ReplyDelete
  7. DipakOctober 28, 2013 at 1:12 PM

    I have a Jeevan Saral policy for myself. I am 39 years old....3 years back i have taken it and paying 5,000/- Per Month. Can anyone tell me If I continue it for 21 years term then how much amount (approx) should I get after maturity ?

    ReplyDelete
    Replies
    1. AnonymousJanuary 5, 2014 at 11:38 AM

      This policy has 250 times death benifit which is good but maturity benefits are not at all good...it says sum Assured + loyalty addition IF ANY

      Rgds
      Arihant (9873266657)
      Insurance Advisor

      Delete
    2. AnonymousAugust 15, 2014 at 9:53 AM

      Immediately close the policy for good, and continue if you really want to go to heaven after death.

      Delete
  8. anonimusNovember 14, 2013 at 4:24 PM

    i have my own jeevan saral policy 3002/- yrly mujhe bola gaya he ki after 22yrs i will get 249000/- bt i m unable to understand & calculate how is it possible ... can u tell me the calculation of it or whatever amt will iget in future ?

    ReplyDelete
  9. AnonymousNovember 14, 2013 at 4:30 PM

    I have jeevan saral policy 3002/- yrly mujhe aisa bola gaya he ki i will get 249000/- at maturity which is after 22yrs ... but i m unable to calculate how is it possible ..can you tell me how i have to calculate the amt..plz waitng for the rply

    ReplyDelete
  10. DeepakDecember 26, 2013 at 6:28 PM

    Greetings. I'm paying a premium of Rs 36,748/yr (Qly basis). I want to discontinue this policy as I have realized how stupid I was buying such a bad policy for my needs.

    Date of commencement (I was 22yrs when I took this): 19/04/2011
    Table : 165
    Term : 25 yrs (Even though the agent convinced me that it is 10yrs only)
    MSA : Rs 11,00,850

    Please suggest me the best way out of this. I can push through two more years if I have to with a minimal loss by completing 5yrs. But then, I want to know how much would be my surrender value now(when i complete 3 yrs) and surrender value when I complete 5yrs?

    Eagerly awaiting your response sir.

    Thank you..

    ReplyDelete
  11. AnonymousJanuary 2, 2014 at 9:20 PM

    The LA (Loyalty Addition) is based on MSA (Maturity Sum Assured).
    LA = (BONUS-RATE * MSA)/1000. The MSA is also Printed along with SA (Sum Assured) in the POLICY DOCUMENT.

    ReplyDelete
  12. UnknownJanuary 15, 2014 at 3:23 PM

    Hi..I have taken LIC Jeevan Saral (T. No. 165) with premium 3032 half yearly for a term of 35 years. What will be the maturity amount after 35 years?

    Please reply.
    Thanks in advance.

    ReplyDelete
  13. AnonymousJanuary 27, 2014 at 2:57 PM

    It's a misnomer when they say that you get 750000 for a premium paid 360000.
    I took policy in dec 13 for 10 years with a monthly premium of 3000.
    Chart says that I should get 750000 in 11th Year
    But reality is that I get LIC Bond paper saying that it's maturity date is in 2033 and not 2023.
    Also last premium date is in 2033 only. This means that I actually be paying a total premium of 720000 and get only 750000 on maturity + some 1-1.5 Lc of Bonus....
    I would call it a fraud from the LIC agent who hide this fact and said that on an investment of 3.6 Lac I will get 7.5 Lac on maturity.

    ReplyDelete
  14. UnknownJanuary 29, 2014 at 9:22 AM

    Hello Sir,

    Good Morning!

    I have taken jeevan saaral policy in 2011. I paid 2 premiums as of now. Can you please advise that if i want to apply for a loan after completion of 3 years for how much amount am i eligible ?

    Thanks,

    Sounder P

    ReplyDelete
  15. UnknownJanuary 30, 2014 at 2:39 PM

    Sir.
    In JS policy my annual premium is 36036. S A is 75000. term of policy is 20 year .What is minimum amount i will get iafter 21th year ?

    ReplyDelete
  16. AnonymousFebruary 8, 2014 at 4:14 PM

    I have policy "jeevan saral with profit". i have checked online that no any bonus given though policy is continuing since 2009. I am paying 12010/- per year. my question is there only LOYALTI bonus ? no any yearly bonus ?

    ReplyDelete
  17. UnknownMarch 17, 2014 at 1:59 PM

    Hi,

    I have taken Jeevan Saral ATM plan with a Half Yearly Premium of Rs.18,195. The total amount i pay Yearly is Rs. 36,390. I have completed 3 Years and if i want to Close the policy what is the amount i will be getting back and what is the procedure to get the amount. How much time it takes to get the refund processed.

    Thanks,

    Ratnadeep Roy

    ReplyDelete
    Replies
    1. AnonymousDecember 20, 2014 at 4:40 AM

      closed your jevan saral after 5 years

      Delete
    2. AnonymousFebruary 2, 2015 at 5:17 PM

      You will get 90% value of paid amount or else you have to pursue the policy for five year s

      Delete
  18. AnonymousMarch 28, 2014 at 4:09 PM

    Sir.
    my annual premium is 36036. S A is 75000. term of policy is 20 year .What is minimum amount i will get iafter 21th year ?
    Reply

    ReplyDelete
  19. AnonymousMarch 28, 2014 at 4:11 PM

    Sir.
    In JS policy my annual premium is 36036. S A is 75000. term of policy is 20 year .What is minimum amount i will get iafter 21th year ?

    ReplyDelete
  20. UnknownMarch 28, 2014 at 5:06 PM

    We will help you accordingly, you can call us on our number - 9953539255.
    Also you can share. Yours contact details where we can call you for any type of Investment.

    Please contact for :-

    LIFE INSURANCE
    HEALTH INSURANCE
    ANY TYPES OF VEHICLE INSURANCE.

    Regards
    Vikas Kumar
    LIC & Property & Investment Advisor Moti Nagar.

    ReplyDelete
  21. AnonymousMarch 30, 2014 at 2:44 PM

    I have purchased Jeevan Saral 3 lacs per annum conmmenced in year 2008. Maturity period is 25 years. I can pay premiums for 10 years (till 2018). Should I continue after 2018 or withdraw after completion of 10 years. What sum I will get after 10 years? Let me know sum receivable after completion of 25 years. Is it beneficial to withdraw partially and pay remaining durations

    ReplyDelete
  22. UnknownMarch 31, 2014 at 3:59 AM

    Hi..I have taken LIC Jeevan Saral (T. No. 165) with premium 12010/- yearly for a term of 35 years. What will be the maturity amount after 35 years?

    ReplyDelete
  23. UnknownMarch 31, 2014 at 4:01 AM

    Hi..I have taken LIC Jeevan Saral (T. No. 165) with premium 3032 half yearly for a term of 35 years. What will be the maturity amount after 35 years?

    ReplyDelete
  24. Nilam PatelApril 18, 2014 at 1:44 PM

    Hi....I have taken LIC Jeevan saral with premium 6065 half yearly for term of 16 years. I just want to know If I chose terms for a longer period that will be more beneficial???

    ReplyDelete
  25. AnonymousJuly 23, 2014 at 7:42 PM

    hi i have lic jeevan saral policy with term of 11 years and paying 14700 per month & i am paying since june 2008 but want to know how much return will get in 2019.

    ReplyDelete
  26. AnonymousAugust 2, 2014 at 4:03 PM

    i have taken jeevan saral policy for term of 20 years. paying 36030 premium yearly.how much return i will get after 20 years.

    ReplyDelete
  27. AnonymousAugust 2, 2014 at 4:06 PM

    i have jeevan anand policy with term value 20 years paying 61697 premium anually. after maturity how much i will get.

    ReplyDelete
  28. narayanAugust 10, 2014 at 7:27 AM

    lic jeevan saral has done fraud to the people,who belive in LIC. i will never go with LIC

    ReplyDelete
  29. AnonymousSeptember 22, 2014 at 4:40 PM

    Dont buy any policy in LIC....

    ReplyDelete
  30. AnonymousOctober 12, 2014 at 1:52 PM

    seems... we are cheated... will never buy any insurance from LIC.......

    ReplyDelete
  31. kapil kshirsagarOctober 27, 2014 at 8:20 PM

    Hi ... Thanks for sharing valuable information... I have same query regarding my jeevan saral policy.. I am paying the premium of 6125/- quarterly from October 2011.
    In this month the policy completing 3 years and I would like to surrender it due to some financial need. What amount I will get and is it worthy to surrender at this moment.
    Please advice.

    ReplyDelete
  32. AmalOctober 31, 2014 at 1:58 AM

    Any idea on the loyalty addition declared for this policy? Mine is a 16 year policy started in 13/05/2004 (at age of 26) and paid quarterly. I have completed 10 years. Premium paid 24500 per year
    I want to know the total amount i can get if I cancel this policy now.

    ReplyDelete
  33. AnonymousNovember 18, 2014 at 2:09 PM

    hi myself prosenjit paul . having a plan of jeevan saral for 15 years.halfyearly premium is 6065/-. so my question is that after compleation of the said period how much i will get approxmitly?

    ReplyDelete
  34. AnonymousNovember 20, 2014 at 12:20 PM

    my yearly premium is 6005 rs so how much will get after 10 years.

    ReplyDelete
  35. AnonymousDecember 17, 2014 at 10:52 PM

    I have paid 5 premiums. Each with an amount of 12010 per annum.how much amt I will get if I surrender jeevan saral policy after completion 5 years.

    ReplyDelete
  36. Ahobula Reddy PalleJanuary 24, 2015 at 11:59 PM

    Sir I have paid 4 years premium amount rs919 quarterly. After 10years if I surrender my jeevan saral policy how much I will get?(actual policy term is 15years)

    ReplyDelete
  37. mjJanuary 10, 2016 at 8:17 PM

    I have 10 years plan of jeevan saral policy of 3002 rs. Can anybody tell
    What is the maturity amount and bonus after 5 years.
    With thanks

    ReplyDelete
  38. AnonymousJanuary 11, 2016 at 6:10 PM

    I surrendered my Jeevan Saral policy after paying 5 premiums and completing 5 years.

    My Sum Assured was 12,62,500. Thus, the monthly premium was 12,62,500 / 250 = 5,050. Yearly premium was 5,050 * 12 = 60,600 minus 2% discount on annual payment = 59,387.50.

    According to LIC's table (I think no. 165), for someone who was 30 years at the time of buying the policy and paid 5 premiums, the "factor" for calculating Maturity Surrender Value (MSA) for the 5th year was 4,726 per Rs 100 of monthly premium.

    Thus, the surrender value was calculated as 5,050 * 4,726 / 100 = 238,663. There would have been a reduction of 3-5 thousand rupees from this if the surrender had happened before completing 5 years.

    The Rate of Return on the policy was -7.2%. If I had continued with the policy believing that I'll get BIG loyalty bonuses, the rate of return would not have been more than 5%, typical with any other LIC policy.

    LIC sucks! They have been duping common public for decades, using poor man's hard earned money for free, making themselves and their agents rich, and returning peanuts to their customers provided they keep paying premium for ages. It's a pity that majority in this country do not understand RoR and CAGR, which should be the first thing they should teach in schools.

    ReplyDelete
    Replies
    1. anyoneApril 11, 2016 at 5:43 PM

      Boss this things should be highlighted properly if this is actual.this article should be shared in social media.so plz share by scanning all related documents and also RBI should be intimated regarding about Chors of LIC..

      Delete
  39. AnonymousJanuary 24, 2016 at 7:19 PM

    Hi,

    I took a Jeeval Saral in Jan 2012 and paying an annual premium of Rs. 24600. The policy term is 16 years and the Sum Assured is 512500. What would be the maturity value of this policy and should I continue it?

    In case if I shouldn't continue what would be the surrender value?

    ReplyDelete
  40. UnknownJanuary 31, 2016 at 8:15 PM

    I m holding this policy from 2011 with a yearly premium of 25221 period of the policy is 25 years .. wat amount i will get after 25 years at the maturity of the policy..

    ReplyDelete
  41. UnknownJanuary 31, 2016 at 8:19 PM

    I m holding this policy from 2011 with a yearly premium of 25221 period of the policy is 25 years .. wat amount i will get after 25 years at the maturity of the policy..

    ReplyDelete
  42. UnknownFebruary 21, 2016 at 10:53 AM

    I have 35 years plan for jeevan saral on 28/06/2012 and til now paid monthly rs 510. Now i want surrender the policy, is that advisable. Pls give the right dicesion to me

    ReplyDelete
  43. UnknownMarch 22, 2016 at 6:45 PM

    i taken jeevan saral policy now 3 years are over i taken policy i want to surrendered it how much money i getting please any one answer me are tell me to best way

    ReplyDelete
  44. RAJAGOPALANMarch 25, 2016 at 10:05 AM

    I surrendered the jeevan saral policy in my wife's name after three years to avoid further loss if I continue. I lost more than 50% of the money I remitted to LIC. LIC policies are not at all good unless the policyholder dies. LIC is meant for the staff and agents not for the public. If the same amount is deposited in banks we get more profit. Most policies are not as transparent as we think. What the agent says and what we get do not match...As he said above "LIC sucks! They have been duping common public for decades, using poor man's hard earned money for free, making themselves and their agents rich"

    ReplyDelete
  45. anand.vgdApril 5, 2016 at 5:34 PM

    I have given 6000/- yearly in jeevan saral for ten years. So what will I get after ten years.

    ReplyDelete
  46. anand.vgdApril 5, 2016 at 5:38 PM

    I have given 6000/- yearly in jeevan saral for ten years. So what will I get after ten years.

    ReplyDelete
  47. Manish SharmaApril 8, 2016 at 10:06 PM

    I have a Jeevan Saral policy for myself. my age is 31 now and 5 years back i have taken it and paying 6,125/- Per Month. Can anyone suggest me about this policy Should I continue with it and withdraw after completion of 10 years as there is some bonus after 10yrs on words and if i want to Close the policy what is the amount i will be getting back and what is the procedure to get the amount. kindly suggest should i continue this policy?

    Regards,
    Manish sharma

    ReplyDelete
  48. Manish SharmaApril 8, 2016 at 10:07 PM

    I have a Jeevan Saral policy for myself. my age is 31 now and 5 years back i have taken it and paying 6,125/- Per Month. Can anyone suggest me about this policy Should I continue with it and withdraw after completion of 10 years as there is some bonus after 10yrs on words and if i want to Close the policy what is the amount i will be getting back and what is the procedure to get the amount. kindly suggest should i continue this policy?

    Regards,
    Manish sharma

    ReplyDelete
  49. Manish SharmaApril 8, 2016 at 10:09 PM

    I have a Jeevan Saral policy for myself. my age is 31 now and 5 years back i have taken it and paying 6,125/- Per Month. Can anyone suggest me about this policy Should I continue with it and withdraw after completion of 10 years as there is some bonus after 10yrs on words and if i want to Close the policy what is the amount i will be getting back and what is the procedure to get the amount. kindly suggest should i continue this policy?

    Regards,
    Manish sharma

    ReplyDelete
  50. T.PrasadMay 14, 2016 at 8:26 AM

    My premium amount 36330/- P.A please advise i will get after 10 years.

    ReplyDelete
  51. T.PrasadMay 14, 2016 at 8:28 AM

    My premium amount 36330/- P.A please advise i will get after 10 years.

    ReplyDelete
  52. UnknownJuly 22, 2016 at 12:36 AM

    hi
    I have taken the jeevan saaral plan 165 for 33 year.the premium amount for quarterly is 18375, now its fully completed 3 years.
    So what will be the surrender value and shall i continue this policy. Please give me a right solution.
    with regards,
    Anish

    ReplyDelete
  53. aryanSeptember 15, 2016 at 10:43 PM

    I have taken the jeevan saral plan 165.my premium 3062 monthly.my policy start july 2010 to till now.if i surrender it how much get value .please help me.

    ReplyDelete
  54. UnknownDecember 2, 2016 at 11:49 AM

    I Have a Jeevan Saral Policy 165. which I took in Dec 2011. Yearly premium of Rd 24020 for a term of 35 yrs, Sum assured 500000.I have paid 5 full premiums but I want to now close the policy.
    Q1. What is the amount i will get if I want to close it now.
    Q2. I haven’t paid the 6th premium in dec 2016. If the policy lapses can I get it surrendered without paying anything extra?

    ReplyDelete
  55. AnonymousFebruary 8, 2017 at 1:33 PM

    Dear Sir,

    I had taken policy from the Agent with year premium of 13211 of Jeevan Saral of 15 years in 2013. At time of taking policy agent showed illustration table where there was amount of 444397, i will get at maturity. But now agent is telling that table is for illustration purpise only you will get 363000. Why there is huge difference ? Am i cheated ? Is he fraud ?

    ReplyDelete
  56. AnonymousAugust 22, 2017 at 6:51 PM

    Hi sir,I took jeevan Saral policy in 2010 for a 21 yrs with a locking time of 10 yrs.presently I have 8 installments on yearly basis @36036 per yr.Now I want to surrender the policy due to some other financial commitment.May I know how much Sum of surrender value will be paid to me rt now I.e., after 8 yrs and if what will be the surrender value if I surrender after 10 years of locKing time.

    RegArds
    Harprit

    ReplyDelete
  57. AnonymousOctober 5, 2017 at 8:27 PM

    Hi Sir,

    I have taken the jeevan saral plan 165. my premium is RS. 2042 monthly. my policy start mar 2013 to till date. Sum Assured: 5,00,000 Term: 25 yrs.

    1. if i surrender it now, How much amount I'll get?
    2. Or, After 25 yrs how much total amount I'll get?

    please help me. Thanks in advance.

    Thanks,
    DD

    ReplyDelete

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