HDFC Life Saral Jeevan Bima

HDFC Life Saral Jeevan Bima

HDFC Life Saral Jeevan Bima is a Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan which provides you comprehensive protection at an affordable price and helps you to protect your loved ones against the uncertainties that life may throw at you. This term life insurance policy covers your life till 70 years of age with multiple premium paying options.

Why you need Saral Jeevan Bima Yojana ?

1. Ensure financial stability for your loved ones
2. Maintain your family's standard of living even in your absence
3. Provide protection to your dear ones at an affordable price
4. Ensure extra protection through addition of riders

Features of Saral Jeevan Bima Policy

1. Provides financial protection to your family in your absence
2. Single, Limited and Regular premium payment options to choose from
3. Additional protection through riders

How Saral Jeevan Bima Yojana Works



Key Benefits of HDFC Life Saral Jeevan Bima Yojana

Death Benefit
The product has a waiting period of 45 days from the date of commencement of risk. In case of revival of the policy, waiting period shall not be applicable.

Death during Waiting Period

On death of the Life Assured during the Waiting Period and provided the Policy is in force, the Death Benefit amount payable as a lump sum is:

(1) In case of Accidental Death, for regular premium or limited premium payment policy, equal to Sum Assured on Death which is the highest of:

(a) 10 times the Annualized Premium, or

(b) 105% of all premiums paid as on the date of death, or

(c) Absolute amount assured to be paid on death.

(2) In case of Accidental Death, for single premium policy, equal to Sum Assured on Death which is the higher of:

(a) 125% of Single premium or

(b) Absolute amount assured to be paid on death.

(3) In case of death due to other than accident, the Death Benefit is equal to 100% of all premiums paid excluding taxes, if any.

Death after expiry of Waiting Period

On death of the Life Assured after the expiry of Waiting Period but before the stipulated date of maturity and provided the Policy is in force, the Death Benefit amount payable as a lump sum is:

(1) For Regular premium or Limited premium payment policy, "Sum Assured on Death" which is the highest of:

(a) 10 times of annualized premium; or

(b) 105% of all the premiums paid as on the date of death; or

(c) Absolute amount assured to be paid on death.

(2) For Single premium policy, "Sum Assured on Death" which is the higher of:

(a) 125% of Single Premium or

(b) Absolute amount assured to be paid on death.

Premiums referred above shall not include any extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any.

Absolute amount assured to be paid on death shall be an amount equal to Basic Sum Assured.

Example:Mr. Bansal, a 35 years old non-smoker gentleman, buys the HDFC Life Saral Jeevan Bima for a policy term of 20 years, premium payment term of 20 years and avails a Sum Assured of Rs. 10,00,000 by paying a premium of Rs. 5,500(excluding taxes) yearly.

Mr. Bansal, passes away in the 15th policy year. His nominee will receive a lump sum benefit of Rs. 10,00,000.



Maturity Benefit
No benefit is payable on survival till end of policy term.

Eligibility for Saral Jeevan Bima Policy