I am searching for this policy ” Saral Jeevan Bhima” Term insurance plan in online. I did not find any insurance company offering to purchase through online. I followed up with the ICICI, HDFC, Max Life ,Aditya Birla through customer care in Jan 2021. But , they are not aware of this policy. I am planning to purchase for my father (65yrs, not working) and my mother (56yrs,House Wife), who having Diabetes and Hyper Tension for 25lakhs SI for a 10yrs limited pay. Both having PAN Card available.
Please share the details of this policy selling insurance company through online and the above pre-existing diseases person eligible or not for this policy?
IRDAI recently mandated all life insurance companies to come out with a standardized term insurance policy known as ‘Saral Jeevan Bima’.
This product should be available with all life insurers from Jan 1st. It may take time to get it through online mode.
People who are not eligible to buy regular term products due to the unavailability of regular income proof and required educational qualification, can now easily invest in a Saral Jeevan Bima.
The minimum age of entry is 18 years and the maximum entry age is capped at 65 and the maximum maturity age is 70 years. The policy term extends from 5 to 40 years.
The minimum sum assured under the product is Rs 5 lakh, and the maximum can go up to Rs 25 lakh. The policyholders also have the option of providing a sum assured beyond Rs 25 lakh.
The product offers three premium payment options; regular premium, limited premium payment term for 5 years and 10 years, and single premium.
Individuals are allowed to choose from regular premium payment throughout the policy term, single premium payment in lumpsum, or limited premium payment (5, 10 years) options.
The online mode is available with edelweisstokio, you may visit this link..