LIC Jeevan Saral (Plan 165) – Details, Calculators, Review and Illustrations

LIC Jeevan Saral (Plan 165) – Details, Calculators, Review and Illustrations. Jeevan Saral (plan 165) is one of the most ‘flexible’ and ‘feature rich’ conventional endowment type plan ever launched by LIC of India. Due to the high flexibility it offers to the customer, it is often referred as a conventional plan, with the flexibility of Unit Linked Plans. High insurance coverage and liquidity are the highlights of the plan.

LIC Jeevan Saral (Plan 165) – Key features
  • The policyholder can choose his own premium amount and Maturity Sum Assured as well as Death Sum Assured is subsequently determined based on the premium paid by him.
  • Death coverage shall be the sum of, 250 times the monthly basic premium (Death Sum Assured) + Premium paid (excluding the first year premium and rider premiums.) + Loyalty Additions (if any).
  • Maturity amount of the plan shall be the sum of, the Maturity Sum Assured (which varies based on the age at entry and term of the plan) + Loyalty additions (if any).
  • Complete or Partial surrender of the plan can be done any time after the completion of 3 years, provided, premiums have been paid for at least three full years.
  • Auto cover shall be available for a period of 12 months if the policy has been in force for 3 or more full years. (Auto cover will not be available for rider benefits)
  • Term Rider and Accident benefit rider available (based on certain conditions and restrictions).

Please Note: LIC’s Jeevan Saral plan was withdrawn from sale with effect from 31/12/2014. And hence you cannot purchase it any more. But all the policy holders who have purchased it before the withdrawal date will continue to enjoy the benefits of the policy.

LIC Jeevan Saral (Plan 165) – Eligibility conditions and Restrictions
LIC’s Jeevan Saral (Plan 165) – Eligibility conditions and restrictions
Condition Minimum Maximum
Age at entry 12 years (completed) 60 Years (nearer birth day)
Term of the plan 10 years 35 years
Premium Rs 250/ month (entry up to 49 years) No Limit
Rs 400/ month (50 years and above)
Accident benefit rider
(Age allowed)
18 years (completed) 60 Years (nbd)
Term Rider 18 Years (completed) 50 Years
LIC Jeevan Saral (Plan 165) – Premium and Benefit Calculator

Premium and Benefit Calculator for LIC Jeevan Saral is a powerful tool to understand all the benefits of the plan in a simple and comprehensive way. You can provide parameters such as age, basic monthly premium, riders etc based on your own needs to get all the details of the plan including, insurance coverage surrender value maturity benefit etc. This online calculator can be used in mobile platforms also and do not need any installations.

Click the button provided below to open LIC Jeevan Saral ( Plan 165) Premium and Benefit calculator.

LIC Jeevan Saral Plan 165 Premium and Benefit Calculator

LIC Jeevan Saral (Plan 165) – Maturity Sum Assured Vs Death Sum Assured

Generally in Endowment Assurance type of plans, Death Sum Assured will be equal or a multiple of, maturity sum assured. But in Jeevan Saral plan Maturity Sum Assured and Death Sum assured are entirely different entities. Death sum assured is defined as, 250 times basic monthly premium, where as Maturity Sum Assured  is calculated based on a table supplied by LIC of India. Maturity Sum Assured considerably varies depending on the age at entry. You can check the chart given below to understand the variation pattern of Maturity Sum Assured with age.

LIC Jeevan Saral 165 Maturity Sum Assured Vs Death Sum Assured

From the above chart, you may notice the fact that lower age group people will get more maturity benefit compared to higher age group where as the premium paid and the death sum assured remains same for all.

LIC Jeevan Saral (Plan 165) – Surrender value

The surrender value of the Jeevan Saral plan plan is the higher of Guaranteed surrender value(GSV) and special surrender value (SSV) applicable at the time of surrender.

GSV = 30% of (total amount of premium paid – (First year premium and riders))

Special Surrender value (SSV) = Accumulated value of the policy + Loyalty additions (If any)

LIC Jeevan Saral – Accumulated value chart
Premium Paid Period Value
Less than 4 Year premium paid 80 % of Maturity Sum Assured
4 Year premium paid 90% of Maturity Sum Assured
5 or more year premium paid 100% of Maturity Sum Assured
LIC Jeevan Saral (Plan 165) – Example of benefits

In order to understand the plan better, let us consider an example of a person taking Jeevan Saral Plan. Let the details of the person taking the plan be as follows.

Details of the person considered for example
Age 25 Term 16 Years
Basic Monthly Premium Rs.4000 Death Sum Assured Rs. 100,00,00
Double Accident Benefit Opted Income Tax Slab 30 %

The Premium and the benefits of the example considered will be as given below. The Maturity Sum Assured of the plan is considerably higher, when compared to the premium paid, for younger age group. In this example you can see that the maturity sum assured is Rs. 8,45,480 where as the total premium paid is just Rs. 7,68,640. LIC has declared loyalty addition rates up to 16 year term and the loyalty addition rate shown here is as per the rate declared by LIC for current year.LIC Jeevan Saral plan 165 example of benefitsLIC Jeevan Saral 165 example of benefits

The illustration shown here is based on the example considered. If you want to calculate the details based on your own details, use – Jeevan saral – complete calculator.

If you have any doubts or require more clarifications, drop a comment on the ‘Comment’ section given below.

Anish L J
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Anish L J

Anish L J is a finance, insurance and software consultant with more than 18 years of experience in these fields. He thoroughly follows developments in insurance and finance. 'INSURANCE FUNDA' ( is his endeavour to provide simple and solid solutions in the Insurance and Finance sectors.
Anish L J
Follow me

Anish L J

Anish L J is a finance, insurance and software consultant with more than 18 years of experience in these fields. He thoroughly follows developments in insurance and finance. 'INSURANCE FUNDA' ( is his endeavour to provide simple and solid solutions in the Insurance and Finance sectors.

24 thoughts on “LIC Jeevan Saral (Plan 165) – Details, Calculators, Review and Illustrations

  • January 29, 2018 at 5:20 pm

    If I decide to surrender the Jeevan Saral plan (16 Years plan. Sum assured 2,50,000) at 8th year, should I pay any Tax on the surrender value?
    Premium 1000 per month

    • February 2, 2018 at 3:16 pm

      No tax is applicable for Surrender value or maturity amount of Jeevan Saral. By the way, surrendering of policy is not a good idea. Try to continue the premium and get the maturity benefit. If further premium payment is not possible due to financial constrains, try to get back the amount at the time of maturity.

      • March 31, 2018 at 3:35 am

        hello, can i withdraw my jeevan saral policy after 10 years? as on my policy the term plan is written for 40 years . so if i withdraw after 10 years will be there any penalty? Also can i take on loan on my policy?

        • April 8, 2018 at 3:38 am

          You can withdraw from Jeevan Saral Plan any time after 10 years to get eligibility for Loyalty addition also for at the time of withdrawal. But remember that you will get the maturity sum assured and loyalty addition of a ten year plan only if withdrawn on tenth year.

  • February 6, 2018 at 6:01 pm

    I am paying Rs 77172/- yearly premium since 8 years for my Jeevan Saral policy. If I decide to surrender the policy this year, what will be my maturity sum assured value?

    • February 11, 2018 at 2:28 am

      It is not advisable to surrender the policy before 10 years. Loyalty addition will be available to the policy only after 10 years. If you still want to surrender the policy you can approach any branch office and get the surrender quotation.
      If your Jeevan Saral policy is a long term one and your age was below 35 when you started the plan the maturity benefits of the plan is really attractive in the current scenario of dwindling interest rates. Further the insurance coverage is also high in the plan. Use the calculator provided here and keep the term as 10 to understand how much amount you are likely to get if the policy is surrendered in the 10 th year.

  • February 9, 2018 at 1:23 pm

    i have been paying premium for good 5 years. and now i want to withdraw. so if I withdraw now is there 30% penalty or I will be getting whatever amount I have paid as premium in 5 years (i pay 60k premium pa)

    • February 11, 2018 at 2:46 am

      Surrendering a policy before the term is not advisable as you are losing the insurance coverage. Even if you want to withdraw from the plan, it is advisable to get the amount back at maturity, as you will be able to get full paid up value and the full accrued bonus at that time.
      Surrender value is the higher of Guaranteed surrender value and the special surrender value. In order to calculate the surrender value you need to know the surrender value factor, which is a percentage value already declared. Surrender Value = (Paid Up Value + Bonus)*Surrender value factor/100. You can approach nearest branch office to know the surrender value of the plan.

  • February 14, 2018 at 5:25 pm

    I am paying Rs 49841/- yearly premium since 9 years for my Jeevan Saral policy. If I decide to surrender the policy next year, what will be my maturity sum assured value?

    • February 17, 2018 at 2:57 pm

      Please contact nearest LIC branch office for exact value..

  • February 19, 2018 at 12:24 pm


    • February 25, 2018 at 12:40 am

      Please use the calculator provided to get maturity amount. As of now loyalty addition has been declared only up to 16 years term. if your term is higher you will have to wait for the Loyalty addition to be declared to know the loyalty addition portion.

  • March 1, 2018 at 7:10 am

    I am paying Rs 126748/- yearly premium since 7 years for my Jeevan Saral policy PLAN . what will be the amount get at maturity with other benefits.

    • March 2, 2018 at 12:12 am

      Please use the calculator provided to get the maturity value..

  • March 4, 2018 at 6:16 pm

    Me due 12130 /=per year last 10 year se abi total kitna Balnce jama huva h 15 Year ke Bad kitna milega 165/35 H

    • March 11, 2018 at 7:28 am

      Please use the online calculator provided to get the values.

  • March 15, 2018 at 11:04 am

    Hi Anish,

    I am investing monthly premium of 2042 in Jeevan saral. I started at age of 25 in 2008 and its 10 years since i have taken the policy. I asked my agent and he said that I will receive 480000 if i terminate the policy now which i think is highly unlikely. Also, from you calculator it seems the amount i will receive at maturity is 311388.
    Can you kindly confirm what will the maturity amount if i terminate the policy now (after 10 years of premium paying).
    I guess i am being tricked by my agent

    • March 18, 2018 at 12:36 am

      The surrender value of your policy is just a call away. You can call any LIC branch office near you and get the quote. By the way, the maturity sum assured of the policy it self will be higher compared to the total premium paid as your age at the commencement of the policy was just 25 years.Maturity sum assured will be printed in your policy document. So far Loyalty additions have been declared only up to 16 years and the rates are also good compared to the current market rates. Calculation of exact maturity value may not be possible now if the term of the policy is more than 16 years.
      Surrendering a policy in between is not a good idea and can bring you a loss. Generally speaking the maturity rates of Jeevan Saral is highly attractive compared to other plans especially for younger age group.

  • March 23, 2018 at 5:21 am

    hi sir,
    i am abhishek ,i have plan jeevan saral T165,i started in 2012, my policy term 20 years and i paiding 15313 INR quaterly premium. i want to surrendar this policy, i want to know that how much total amount i will be receive.

    • March 30, 2018 at 12:51 am

      Surrender value quotation can be obtained from the nearest branch office. But I do advise you to keep the policy.
      If you go through other sites which provide information on these plans you are likely to get advises to surrender your policies.
      They claim that they are certified Financial Planners but actually they are misguiding you. Many of them are old LIC agents and have poor knowledge on the concept and working of insurance policies. You can look at the benefits and compare it will other options available and take a decision by your own. Use the calculator provided to get more information.

  • March 25, 2018 at 4:26 pm

    Hello sir, I have this Jeevan Saral policy and I have a monthly premium of Rs 10,000. I entered it at the age of 25 years in July 2013. I have few questions regarding:
    1. The loyalty additions will be automatically added by LIC after 10 years and I dont need to provide additional money for this?
    2. Is it advisable to surrender now (it is already 5 years since i entered the policy) and hence I should get 100% of the sum assured.
    3. How do I find out the sum assured at the end?

    • March 30, 2018 at 12:43 am

      Jeevan Saral is a good policy especially for young customers as the maturity sum assured is considerably higher when joined at an younger age. As you have joined the scheme at the age of 25 you are eligible for high maturity sum assured. Please use the calculator provided to get more information.
      1. You need not pay more money for loyalty additions. It is an inbuilt benefit of the scheme.
      2. Surrendering an insurance policy is not advisable in between as it brings loss to you. Further, you are loosing the insurance coverage obtained at the age of 25 at a considerably low rate. Loyalty addition is one important portion of maturity benefit and you will not get it if you surrender now. As of now you have paid only 5 years premium and maturity sum assured available will be as per the 5 year term only.
      3. Maturity sum Assured is printed in the policy bond supplied to you. You can use the calculator provided at InsuranceFunda to know the maturity sum assured.

  • March 30, 2018 at 5:32 pm

    Hello Sir , I am paying term as 24020 yearly and number of terms are 20 started in 2011 age of 24 . how much amount i will get after 20 years .

    As per your calculator i am getting below details :-


    Maturity Sum Assured

    Half Yearly

    Loyalty Addition
    Loyalty Addition declared only upto 16 year term


    Total Benefit
    557520 + LA


    Total Premium Paid

    But in the bond it says :-
    Maturity sum assured :- 557520
    Death benefit sum assured under main plan :- 500000
    Accident benefit sum assured :- 500000

    can i assume i will get sum of all these after 20 years

    • March 31, 2018 at 12:25 am

      Your total maturity benefit shall be the sum of Maturity Sum Assured and loyalty additions. Your maturity sum assured is already known and it is Rs.557520
      The loyalty addition part is yet to be declared and hence we do not know the exact value. So far loyalty additions has been declared up to 16 year term only. It will take four more years to declare loyalty additions for 20 year term. You can expect around 5,00,000 as loyalty additions as per the existing trends.


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