Plan 859 Actuarion Engine 2026

LIC Saral Jeevan Bima (Plan 859) Calculator

Model LIC's version of the IRDAI-mandated standardized pure term plan. Offers simple, transparent protection with a maximum sum assured of ₹25 Lakhs.

Standardized Term Plan: Identical terms across all Indian insurers

Pure Risk Cover: Simple, transparent, low-cost term protection

Flexible PPT: Choose Regular Pay, Limited Pay (5/10 Yrs), or Single Pay

No complex medical underwriting: Highly accessible cover

Tax deductions on premiums u/s 80C

LIC Saral Jeevan Bima Inputs

LIC Saral Jeevan Bima (Plan 859) specialized calculator. Adjust your sliders to recalculate active returns.

1. Age at Entry (Years)30 Years Old

2. Basic Sum Assured (₹)₹10,00,000

3. Policy Coverage Term (Years)20 Years

4. Smoking Habit

5. Gender

6. Payment Frequency

Plan 859

Estimated Maturity Returns

₹0

Estimated returns payout at policy maturity

Actuarial Projections

Sovereign-backed security of sum assured and returns u/s 10(10D).
Eligible for annual premium tax exemptions under Section 80C.
Loan and policy surrender values accumulate continuously.

First Year Installment (with GST):₹5,643

Renewal Installment (with GST):₹5,522

Total Estimated Premiums Paid:₹1,10,561

Basic Life Cover (Death Benefit):₹10,00,000

Maturity Returns (Survival Benefit):No maturity returns (Pure Term Cover)

Returns Performance0.00x Return

Guide to LIC Saral Jeevan Bima (Plan 859)

LIC's Saral Jeevan Bima (Plan 859) is a non-linked, non-participating, individual pure risk premium term life insurance plan. Mandated by the insurance regulator IRDAI, this plan features standard terms, conditions, definitions, and exclusions across all life insurance companies in India. It is designed to be a straightforward, easy-to-understand entry-level term plan for the general public.

Plan Eligibility & Key Actuarial Limits

Policy parameter	Details and limits
Minimum Entry Age	18 Years (Completed)
Maximum Entry Age	65 Years
Maximum Maturity Age	70 Years
Minimum Sum Assured	₹5,00,000
Maximum Sum Assured	₹25,00,000 (higher amounts subject to underwriting)
Policy Term Range	5 to 40 Years

Tax Benefits & Payout Options

Premiums qualify for Section 80C deductions. The death benefit received by the nominee is tax-exempt under Section 10(10D).

Frequently Asked Questions (FAQs)

Is there a waiting period in Saral Jeevan Bima?

Yes, there is a waiting period of 45 days from the date of commencement of risk. During this period, death due to anything other than an accident is not covered (premiums are refunded).

What premium payment terms are available?

You can choose Regular Premium, Limited Premium (5 or 10 years), or Single Premium payment.

Does this plan offer any maturity returns?

No, this is a pure term assurance plan and does not offer any maturity value or survival benefits.

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Mumbai, Maharashtra

Term Insurance

2 weeks ago

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Delhi, NCR

Endowment Plan

1 month ago

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Amit Patel

Ahmedabad, Gujarat

Whole Life Plan

3 weeks ago

"Good tool for getting a quick estimate. The calculator is easy to use and provides clear results. However, I noticed the actual premium was slightly higher due to my medical history, which is expected."

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Bangalore, Karnataka

Endowment Plan

1 week ago

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Pune, Maharashtra

Term Insurance

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Chennai, Tamil Nadu

ULIP

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Kolkata, West Bengal

Endowment Plan

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Hyderabad, Telangana

Whole Life Plan

2 weeks ago

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