Loyalty Addition of LIC Jeevan Saral Policy for year 2018-2019

April 29, 2020May 4, 2020 Punit Shet 0 Comments bonus in lic policy, bonus rates of LIC, final additional bonus, Jeevan Saral Loyalty Addition, LA of Jeevan Saral, lic jeevan saral, lic jeevan saral calculator, lic jeevan saral maturity calculator, lic maturity calculator, loyalty addition in jeevan saral, loyalty addition in jeevan saral 2018-2019, loyalty addition of plan 165, loyalty additon

LIC’s Jeevan Saral – Plan No 165, was a with profit plan of Life Insurance Corporation of India, in which LIC had kept a provision for Loyalty Addition so that, in case the yields on investment remain high, a portion of the resulting profit can be passed to the policyholders. The only difference between Jeevan Saral and others with profit plans like Endowment, Money back, etc. is that, instead of Simple Reversionary Bonuses and Final Additional Bonus, only Loyalty Addition is paid, at the time of exit by surrender, death or maturity. The Loyalty Addition of Jeevan Saral Policy is declared every year by LIC.

Note: The loyalty addition is paid only at the time of exit of the policy unlike bonus which is paid every year into the policy account.

LIC’s Jeevan Saral Death Benefit:

250 times the Monthly premium, excluding rider premium if any.

Jeevan Saral Maturity Benefit:

Maturity Sum Assures + Loyalty Addition if any is payable in a lump sum.

Loyalty Addition in LIC’s Jeevan Saral policy depends on

Duration of the policy: longer the duration higher the Loyalty Addition
Annual premium band / Annul Premium paid by policyholder excluding any rider premium. Higher the premium, higher is the loyalty addition in Jeevan Saral.
Maturity Sum Assured – In LIC Jeevan Saral policy there are two type of Sum Assured
1. Death Sum assured which is 250 times the monthly premium, excluding rider premium if any.
2. Maturity Sum assured which is also printed on the policy bond while issuing the policy.

How to Calculate Loyalty addition and Maturity in LIC Jeevan Saral Plan no 165:

M.S.A = Maturity Sum assured printed on the LIC Jeevan Saral Policy bond.
L.A = Loyalty Addition as per charts below
Total Loyalty Addition = Maturity Sum Assured (M.S.A) × Loyalty Addition per 1000 MSA (as per the chart below) ÷ 1000

**Total Maturity = M.S.A + Total Loyalty Addition as above.**

Below is a list of Loyalty Addition (per 1000 of Maturity Sum Assured) for term 10 to 18 years duration of the last 7 years for comparison. The Loyalty Addition depends on the duration and the annual premium band.

Duration: 10 years

Annual Premium Band	2013	2014	2015	2016	2017	2018	2019
Up to 5000	250	250	275	300	300	300	300
5001 to 20000	300	300	325	355	355	360	360
20001 to 50000	350	350	375	400	400	425	425
Above 50000	375	375	400	425	425	475	475