What is Saral Jeevan Bima Plan?

UIN: 140N073V01

You are your family’s pillar of strength as you ensure their comfort and well-being. Your support and presence nurtures your loved ones’ dreams. However, there are times when you fear as to what will become of their future in your absence. To put all your worries to rest and give you peace of mind we present Pramerica Life Saral Jeevan Bima, a Non-Linked Non-Participating Individual Pure Risk Life Insurance Plan.

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Why choose this plan

Learn more about the plan

1

Choose the Sum Assured as per your requirement subject to a minimum of Rs 5,00,000 and a maximum of Rs 25,00,000.

2

Then choose the Policy Term for which you would like to avail protection cover from a range of 5 years to 40 years subject to a Maximum Maturity Age of 70 years.

3

Select the Premium Payment Term as per your convenience from Single Premium, Limited Premium (5 years or 10 years) or Regular Premium options.

Eligibility

Age at entry

Minimum

18 years

Maximum

65 Years



Maximum Maturity Age

70 years

Policy Term & Premium Payment Term

Payment Options

 

 

Regular Premium

Policy
Term

 

 

5 to 40 years

Premium Payment
Term

Equal to Policy Term

Limited Premium

6 to 40 years

11 to 40 years

5 years

10 years


Single Premium

5 to 40 years

Single


Sum Assured (Only in multiple of 50,000)

Minimum:

₹ 5,00,000

Maximum:

₹ 25,00,000

Downloads

Policy Brochure

T&C Guaranteed term insurance

Saral Jeevan Bima PPT

Premium Rates - Pramerica Life Saral Jeevan Bima

Benefits of buying a Saral Jeevan Bima

In the unfortunate event of death of the Life Assured during the Waiting Period and provided the Policy is in force, the Death Benefit amount payable as a lump sum will be:

• In case of Accidental Death, for regular premium or limited premium payment policy, an amount equal to Sum Assured on Death which is the highest of:

º 10 times the Annualized Premium, or

º 105% of all premiums paid as on the date of death, or

º Absolute amount assured to be paid on death

 In case of Accidental Death, for single premium policy, an amount equal to Sum Assured on Death which is the higher of:

º 125% of Single premium or

º Absolute amount assured to be paid on death 

 In case of death other than accident, the Death Benefit will be equal to 100% of all Premiums paid excluding taxes, if any

In the unfortunate event of death of the Life Assured after the expiry of Waiting Period but before the stipulated date of maturity, provided the Policy is in force, the Death Benefit amount payable as a lump sum will be:

• For Regular premium or Limited premium payment policy, “Sum Assured on Death” which is the highest of:

º 10 times of annualized premium; or

º 105% of all the premiums paid as on the date of death; or

º Absolute amount assured to be paid on death

• For Single premium policy, “Sum Assured on Death” which is the higher of:

º 125% of Single Premium or

º Absolute amount assured to be paid on death

Premiums referred above shall not include any extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any. Absolute amount assured to be paid on death shall be an amount equal to Basic Sum Assured. The policy will terminate after paying the death benefit.

The Annualized premium shall be the premium payable in a policy year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

For the Regular / Limited Premium payment options you may choose to pay premiums Yearly, Half-Yearly or Monthly. Monthly mode is allowed only if the premiums are paid electronically, such as through Credit Card, Direct Debit or ECS/NACH. For monthly mode, premium for the first two months will be collected in advance at the time of issuance of the Policy. 

If you are unable to pay your premium by the due date, you will be given a grace period of 30 days in case of yearly and half yearly premium payment mode and 15 days in case of monthly mode. During the grace period the Policy shall continue to remain in-force along with all benefits under this policy and the claim, if any, shall be payable subject to deduction of the unpaid due premium.

Suicide Exclusion:

• Under Limited Premium and Regular Premium: If the Life Insured commits suicide within 12 months from the date of commencement of risk or date of revival of the policy, as applicable, the company would pay an amount equal to 80% of the total premiums paid till the date of death (excluding any taxes and rider premium(s), if any), provided the policy is in force.

• Under Single Premium: If the Life Insured commits suicide within 12 months from the date of commencement of risk, the company would pay an amount equal to 90% of the Single Premium (excluding any taxes and rider premium(s), if any).

Tax Benefits may be available as per the applicable laws as amended from time to time. Please consult your tax advisor for details.

 

Why choose Pramerica Life insurance?

99.18% Claim Settlement Ratio

Individual Death Claim Paid Ratio as per audited financials for FY 2024-25

134 Branches PAN India

As reported on Mar 2025

Over 5.2 Million Lives Secured

As on September 2023

Unshakeable life insurance products tailored for your needs

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Disclaimer:

Pramerica Life Saral Jeevan Bima: UIN No. 140N073V01. This product provides life insurance coverage. Goods & Services Tax will be charged over and above the quoted premium. For more details on risk factors and terms & conditions including policy exclusion, please refer to the detailed plan brochure and policy terms and conditions before concluding a sale.