Loyalty addition Calculation for Jeevan Saral policy

POSTED BY Yogesh K ON January 1, 2014 4:47 pm COMMENTS (16)

While going through few articles on internet I found the following information There have been two loyalty additions 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. Can someone please let me know whether the above information is true ?

Also based on the above info can someone please explain whether the loyalty additions are added on yearly basis? Lets say for one Jeevan Saral Policy Maturity Sum assured (MSA) in 100000. This policy has completed 10 years in 2011. So 250 per thousand sum assured loyalty addition (25000) will be added for that year. In 2012 for the same policy 300 per thousand sum assured loyalty addition (30000) is applicable. Now my question is at the end year 2012 what will be loyalty addition in this policy? Whether it will be 30000 or 55000 ?

16 replies on this article “Loyalty addition Calculation for Jeevan Saral policy”

  1. Anilgangurde says:

    Dear sir Jeevan saral policy hai 6064 yearpremiums 125000 policy 22years tak hai abhi 10 year pura ho gya hai to abhi nikal ne fayda hai ya bad me kya loyelty chalu hoga to fayda milega

  2. HHS says:

    I HAVE ONE POLICY JEEVAN SARAL ( WITH PROFITS )
    TABLE 165 21 AGE OF LIFE ASSURED 40 YEARS SUM ASSURED 2100000 ( TWENTY ONE LAC )
    PREMIUM EVERY YEAR RS.104853/- ( ONE LAC FOUR THOUSAND EIGHT HUNDRED FIFTY THREE )
    COMMENCED ON MARCH 2009 ( FIRST PREMIUM PAID ) POLICY MATURITY MARCH 2030.

    CAN ANYBODY TELL ME WHAT MAY THE VALUE AS ON 31 MARCH 2017
    ( ALL PREMIUM PAID REGULARLY . TOTAL 9 PREMIUM PAID )

    1. Hi HHS

      The best answer you can get only from the agent you invested through or just contact the company. The thing is your case is a bit personalised and other than company, no one can give accurate information

      Manish

    2. Karthik says:

      Sir Are u asking abt which value????? Either simple bonus???

  3. priti says:

    i have one policy for SUM Assured Rs.200000/- under table 165-JEEVAN SARAL. POLICY TERM IS 25 YEARS i took this policy in 2013. now i m 30 years old.
    what will be the maturity value as per 25 year term and also wanted to know that after 10 years how much amount i wil be get ?

    1. Hi priti

      The best answer you can get only from the agent you invested through or just contact the company. The thing is your case is a bit personalised and other than company, no one can give accurate information

      Manish

  4. Sadhana says:

    Hi All
    I am paying 6005 per year for jeevan saral and sum assured 125000, term is 20 years. I took it in 2008.
    What will be the maturity amount ? Also i have 2 policies of same kind.

    1. More than maturity amount what you should ask is the returns ! .. and that I think will be in range of 4-6%

  5. SAHIL says:

    i have one policy for SUM Assured Rs.200000/- under table 165-JEEVAN SARAL. POLICY TERM IS 15 YEARS .

    what will be the maturity value as per 15 year term and also wanted to know is there any bonus loss on not taking policy term for 16 years as bonus is declared for 5 years in 6th year.

    1. Hi SAHIL

      The best answer you can get only from the agent you invested through or just contact the company. The thing is your case is a bit personalised and other than company, no one can give accurate information

      Manish

  6. ASHOK says:

    AYE TOOK A JEEVAN SARAL POLICY FOR TEN YEARS ANNUAL PREMIUM OF RS.99466/- THE MATURITY SUM ASSURED SHOWN IN POLICY BOND IS RS.250838/- IT IS SHOCKING AYE WILL PAY TOTAL AMOUNT Rs 994660/. WHEREAS AYE WILL GET RS.250838/-PLUS LOYALITY ADDITIONS WHICH WILL BE APPROX RS. ONE LAC
    PLS GUIDE ME WHAT TO DO WITH THIS POLICY. HV ALREADY PAID SEVEN PREMIUMS OF RS. 48733/-EACH HALF YEARLY
    RGDS
    ASHOK

    1. Raghavan says:

      Something appears to be amiss with the Maturity Sum Assured. Please check with LIC. As for my reading is concerned one should get upon maturity (Life assured surviving till maturity)

      1.Maturity Sum Assured
      2.Loyalty Additions declared at the time of maturity
      3.Final Additional Bonus

      Thanks…

  7. ashalanshu says:

    Dear Yogesh, in this policy, the maturity amount ‘ll be MSA + loyalty addition declared in 2025 + Final additional bonus if any declared by LIC.

    Thanks

    Ashal

  8. ashalanshu says:

    Dear Yogesh, Jeevan SARAL is not a typical insurance policy. Here the declared bonus is applicable only on the surrendered and matured policies or where claim has been made. For running policies, this bonus has no meaning.

    Thanks

    Ashal

    1. Yogesh K says:

      Thanks Ashal.
      I have very basic doubt.At the end of the policy having 25 years term how loyalty will be calculated in 2025
      1) whether the amount one will get is MSA+loyalty additions for all years (2011,2012…2025) : in this case returns from this policy may be good
      2) whether it will be MSA+loyalty addition declared by LIC in 2025 for policy completing 25 years. : in this case returns from this policy will be very less

      1. JOY FOREVER says:

        Loyalty addition amount will be considered as per the declared annual loyalty band in 2025 by LIC

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