Want To Know The Important Things About Saral Jeevan Bima? - BimaKaro.in

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Want To Know The Important Things About Saral
Jeevan Bima? - BimaKaro.in
BimaKaro.in
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Saral Jeevan Bima

• Saral Jeevan Bima is a standard term insurance
  plan that pays a lump sum amount to the nominee
  if there is an accidental death during the
  policys time period. The name of the insurer has
  to be prefixed to the products name. According
  to the Insurance Regulatory and Development
  Authority of India (IRDAI) guidelines,
  this standard term insurance plan is implemented
  from January 1st, 2021. There is no
  discrimination in this plan based on gender,
  travel, place of residence, occupation etc. 
• It is a non-linked, nonparticipating individual
  term life insurance plan. There are also rider
  benefits that are available alongside
  the standard term insurance plan like Approved
  Accident Benefit and Permanent Disability Benefit
  riders. 

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Essential features
Ten essential features that one must know before
signing in for the Saral Jeevan Bima are The
minimum age of entry for the standard term
insurance plan is 18 years, and the maximum age
of entry is 65 years.  This policys time period
range varies between 5 to 40 years for this
standard term insurance plan. Under Saral Jeevan
Bima, the minimum assured lump sum amount is Rs.
5 lakh and the maximum is Rs 25 lakh. The
insurers can also raise the limit of the amount
above Rs 25 lakh, after duly reading the policy
guidelines before signing any and with all the
other terms and conditions being the
same.   There are three options to pay Saral
Jeevan Bima premiums -regular, single and limited
(5-10 years) premium payment. Premiums can also
be paid in different frequencies that are either
monthly, half-yearly or annually. There are
options available regarding the mode of payment,
which can be monthly payments like in the case of
ECS/NACH, yearly payments, and even the option of
paying a single premium in a lump sum. 
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Why is it essential for an individual?
There is also a death benefit that is available
to people under the standard term insurance
plan. The death benefit is a monetary benefit
given as a lump sum amount to the policyholders
family as long as the policy is in the continuum.
It includes premium amount up to 250 times the
premium value that was paid every month along
with benefits of loyalty and other rider
benefits. The premium returns exclude the payment
of the first year and the rider benefits covered
under it.  The waiting period for the standard
term insurance plan is up to 45 days, starting
from the date of commencement of the
risk.  Along with so many advantages discussed
in the points mentioned above, it is also
essential to see a few drawbacks that this plan
has. If people face a financial crunch and want
to avail this policy through loans, it will not
be possible as it is prohibited under this
standard plan.  There is no benefit of maturity
that can be enjoyed under this plan.  The
maximum maturity is of 70 years under benefits of
Saral Jeevan Bima. These are the benefits of this
plan that must be kept handy while trying to
figure out the possibilities of buying this
policy.
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other benefits
Saral Jeevan Bima was introduced to lower the
risk of the technical know-how that goes into
signing any term insurance policy. In todays
tough times with the spread of the pandemic, it
was important for the life insurance companies to
launch a plan like this that covered almost all
essential benefits and the hassle-free
guidelines.   The government has also launched
products like Corona Kavach, Corona Rakshak, and
Arogya Sanjeevani to tackle this virus spread.
These have been established by the Insurance
Regulatory and Development Authority of India
(IRDAI), making sure that the understanding these
policies is no longer a task of high ended
efforts.  This policy plan will not have
different exclusions and different payout
options. It is based on uniform features that cut
across various discriminatory options like class,
gender etc. It is like a standardised product
with easy feature plans. Therefore, uniformity
and standardisation become integral features of
this term plan in addition to the pointers
written above. 
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Bimakaro.in

• This plan is available digitally, which will
  boost cashless transactions something that has
  become important for these uncertain times.
• This also means that there will be more
  transparency and less ambiguity between the
  clients and the insurance companies. All the
  essential and critical information that is there
  will be available on the click of a mouse,
  sitting at their respective homes. The
  technicalities of finding an agent and then
  signing for this policy can be avoided under this
  plan. 
• If you are interested in Saral Jeevan Bima or
  Standard Term Insurance Plans, then head over to
  BimaKaro.in right away. With the most in-depth
  information about the latest plans, you are sure
  to get what you are looking for in the shortest
  of time. 

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Conclusion
Online term insurance plans come with a host of
benefits. As explained above, it is time to give
equal importance to term insurance, as we give to
health, motor, travel, or any other insurance
form. Concerns related to trust and transparency
are now addressed with the help of online
insurance aggregators like BimaKaro.in If you are
considering buying online term insurance plan, do
not procrastinate. Just log on to www.BimaKaro.in 
now.