LIC’s SARAL JEEVAN BIMA (Plan No. 859, UIN:512N341V01)

Have you heard about the new life insurance policy from LIC? It’s called LIC SARAL JEEVAN BIMA, or Plan 859. This policy is designed to give you and your family protection and money security if something bad happens to you while you have the policy. It’s a simple kind of life insurance that doesn’t give you money back at the end, but it’s a good choice if you want an affordable way to keep your loved ones safe.

One of the best things about Plan No. 859 is how easy it is to understand. You don’t need to worry about a lot of rules or paperwork. LIC’s SARAL JEEVAN BIMA focuses on giving you the basic life insurance coverage you need at a price that works for you. So if you want a straightforward way to protect the people you care about, UIN: 512N341V01 could be a great choice to think about.


LIC’s Saral Jeevan Bima is a simple type of life insurance called a term plan. Its main purpose is to give money to your family if something happens to you. There’s no savings or investment part – it’s just pure insurance.

To make it easy for you, LIC lets you get this plan 859 in two ways. You can go to your nearest LIC office or you can buy it online right from their website at Whichever way you choose, LIC SARAL JEEVAN BIMA is designed to be simple and convenient for you.

Key Features

  • Sum Assured Options: You can pick how much money your family will get, from Rs. 5 lakhs to Rs. 25 lakhs. You can increase the amount in steps of Rs. 50,000.
  • Flexible Premium Payment: You can pay your premium all at once, every year, or for a set number of years. This helps you keep your insurance going.
  • Death Benefit Payout: If something bad happens to you while you have the plan, the person you chose will get the full sum assured amount at one time.
  • Grace Period: If you’re paying every year or half-year, you get an extra 30 days to pay. For monthly payments, you get 15 extra days. This helps keep your plan no 859 going.
  • Rebates: You can get good discounts if you choose a high sum assured. You also get extra discounts if you buy the plan online at
  • Free Look Period: After you get your policy, you have 15 days (or 30 days if you bought online) to read it. If you don’t like something, you can return it.


To get LIC’s SARAL JEEVAN BIMA, you need to meet some rules:

Age to Start18 years65 years
Age When Plan Ends70 years
How Long Plan Lasts5 years40 years
Sum Assured AmountRs. 5,00,000Rs. 25,00,000
Premium Paying YearsSingle, 5 years, 10 years40 years

Death Benefit

LIC’s Saral Jeevan Bima gives a good amount of money to take care of your loved ones if something happens to you. This is called the death benefit. If you pass away while you have the plan 859, the person you chose (your nominee) will get this money, but there are some rules:

If you die within the first 45 days of getting the plan and it wasn’t because of an accident, LIC will give back all the money you paid for premiums (but not the taxes). But if it was because of an accident in those 45 days, they’ll pay the full death benefit. After 45 days, they’ll pay the death benefit no matter what caused your death.

If you’re paying premiums every year or for a set time, the death benefit is figured out in a special way. It’s either 10 times your yearly premium, 105% of all the premiums you’ve paid, or the exact amount LIC said they’d pay – whichever is highest. If you paid just one big premium at the start, it’s either 125% of that premium or the promised amount – again, whichever is more.

Remember, LIC SARAL JEEVAN BIMA is only meant for protection. You won’t get any money back at the end of the plan if you’re still alive.

Additional Details

If you paid just one premium or only for a set time and you cancel your policy early, you might get some money back. This is called the cancellation value. How much you get depends on when you cancel and what kind of plan no 859 you have.

If you stop paying your premiums and your policy lapses, you can start it again within 5 years from when you missed the first payment. To do this, you have to pay all the premiums you missed plus some interest that LIC will decide.

One thing to keep in mind is that you can’t take a loan against your LIC’s Saral Jeevan Bima policy.


  • Suicide Clause: If you take your own life within a year of starting the plan, your nominee will get back 80% of what you paid in premiums (but not taxes). The policy will then end. It doesn’t matter if you were in your right mind or not when it happened.


Will I get any money back at the end of my Saral Jeevan Bima plan?

No, LIC’s SARAL JEEVAN BIMA is only meant to give money to your family if something happens to you. If you live through the whole plan time, you won’t get any money back at the end.

What’s the oldest age I can be to get this plan no 859?

You can’t be older than 65 when you get LIC’s Saral Jeevan Bima. This is to make sure the plan ends before you turn 70, which is the oldest age LIC allows for this type of insurance.

Can I take a loan from LIC using my Saral Jeevan Bima policy?

No, you can’t take a loan with your LIC SARAL JEEVAN BIMA policy. This plan is only for protection and doesn’t have any savings or investment part, so there’s no way to borrow money against it.

How long do I have to decide if I want to keep my policy when I buy it online?

If you get your plan 859 online from, you have 30 days from when you get your policy to look it over. If you don’t like something in the plan details, you can return it in those 30 days. But LIC will keep some money for stamps and the time you were covered.

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