About LIC Saral Jeevan Bima (Plan 860)
LIC Saral Jeevan Bima is the most affordable pure term insurance plan from LIC — designed for one job: giving your family a large life cover at the lowest possible premium. There is no maturity value, no bonus — just pure protection.
Why Choose a Pure Term Plan?
A ₹1 crore Saral Jeevan Bima policy for a 30-year-old can cost as little as ₹3,000–₹5,000 per year — that's around ₹10–₹15 per day for ₹1 crore of life cover. An endowment plan offering the same cover would cost 5–10× more.
Key Features of Plan 860
- Entry age: 18–65 years; Max maturity age: 70
- Sum Assured: ₹5 lakh to ₹25 lakh (and higher, subject to underwriting)
- Policy term: 5 to 40 years — choose the exact cover period you need
- Premium modes: yearly, half-yearly, quarterly, monthly NACH
- Tax benefits: 80C on premium; 10(10D) on death claim
- Loan: not available (no surrender value)
💡 Family rule of thumb: buy cover of 15–20× your annual income. Use this calculator to find your premium, then also calculate our advanced term calculator for ₹1 crore + covers from Tech-Term / Jeevan Amar.