Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Policy typeIndividual, non-linked, non-participating pure-risk term insuranceView source
Life describes Saral Jeevan Bima as an individual pure-risk product with standard terms.
- Source
- Life Saral Jeevan Bima
- Page / section
- Product overview
- Accessed
- 23 Aug 2026
- Confidence
- high
Published premium range₹1,415 to ₹1,01,025View source
The official key-features table publishes a premium range of ₹1,415 to ₹1,01,025.
- Source
- Life Saral Jeevan Bima
- Page / section
- Key Features
- Accessed
- 23 Aug 2026
- Confidence
- high
Minimum entry age18 yearsView source
The official page lists entry age from 18 years.
- Source
- Life Saral Jeevan Bima
- Page / section
- Key Features
- Accessed
- 23 Aug 2026
- Confidence
- high
Key coverageSimple standard term cover with multiple premium payment optionsView source
The official key benefits list a standard term plan and multiple premium payment options.
- Source
- Life Saral Jeevan Bima
- Page / section
- Key Benefits
- Accessed
- 23 Aug 2026
- Confidence
- high
InsurerSBI Life Insurance Company LimitedView source
Life's official catalogue lists these individual and group products under Life Insurance Company Limited.
- Source
- Life online plans and group insurance catalogue
- Page / section
- Life plan catalogue
- Accessed
- 23 Aug 2026
- Confidence
- high
Policy term5 to 40 years; limited-premium combinations require at least 10 years for a 5-year payment term and 15 years for a 10-year payment term.View source
The product information table publishes a policy term of 5–40 years and the regular, limited and single-premium combinations.
- Source
- Life Saral Jeevan Bima
- Page / section
- Who can buy — policy term and premium-paying-term combinations
- Accessed
- 26 Aug 2026
- Confidence
- high
Basic sum assured₹5 lakh minimum to ₹25 lakh maximum, in multiples of ₹50,000; the maximum is subject to the board-approved underwriting policy.View source
The official Life brochure states a minimum basic sum assured of ₹5,00,000 in multiples of ₹50,000 and a maximum of ₹25,00,000, subject to board-approved underwriting.
- Source
- Life Saral Jeevan Bima brochure
- Page / section
- Key features — Basic Sum Assured
- Accessed
- 26 Aug 2026
- Confidence
- high
Waiting period45 days from commencement of risk; non-accidental death during this period receives 100% of premiums paid (excluding taxes), while accidental death remains covered subject to the policy terms.View source
The official product information states a 45-day waiting period from the date of commencement of risk and explains the accidental-death treatment during that period.
- Source
- Life Saral Jeevan Bima
- Page / section
- Waiting period / death benefit
- Accessed
- 26 Aug 2026
- Confidence
- high
Waiting-period and suicide exclusionsA 45-day waiting period applies from commencement of risk; only accidental death is covered during it, while non-accidental death returns 100% of premiums paid excluding taxes. Suicide within 12 months pays 80% of premiums for regular/
The policy document sets the 45-day waiting period and the separate suicide provisions for regular/limited and single-premium policies.
- Source
- Life Saral Jeevan Bima policy document V02
- Page / section
- Pages 5–8 — Death Benefit and Exclusions
- Accessed
- 26 Aug 2026
- Confidence
- high
Grace period30 days for yearly or half-yearly premiums and 15 days for monthly premiums; cover remains in force during the grace period, then the policy lapses if unpaid.View source
The policy document specifies the 30-day and 15-day grace periods by premium frequency and the effect on claims.
- Source
- Life Saral Jeevan Bima policy document V02
- Page / section
- Page 7 — Grace Period
- Accessed
- 26 Aug 2026
- Confidence
- high
Free-look period15 days from receipt of the policy document, extended to 30 days for electronic or distance-mode policiesView source
The policy document provides 15 days generally and 30 days for electronic or distance-mode policies, subject to stated refund deductions.
- Source
- Life Saral Jeevan Bima policy document V02
- Page / section
- Page 8 — Free-look provision
- Accessed
- 26 Aug 2026
- Confidence
- high
Policy cancellation valueRegular premium: none. Single premium: 70% × single premium paid × unexpired-term/
The policy document gives separate cancellation-value formulas for regular, single and limited premium payment structures.
- Source
- Life Saral Jeevan Bima policy document V02
- Page / section
- Page 6 — Policy Cancellation Value
- Accessed
- 26 Aug 2026
- Confidence
- high
Policy loanNo loan facility is available against this plan.View source
Clause 7.8.1 states that no loan will be available against this policy; the official brochure repeats ‘No Loan facility is available against this plan.’
- Source
- Life Saral Jeevan Bima Policy Document
- Page / section
- Part D, page 23 — Clause 7.8 Policy Loan
- Accessed
- 29 Aug 2026
- Confidence
- high
Geographic limitsSimple standard term cover with multiple premium payment optionsView source
The manually reviewed product record states: “Simple standard term cover with multiple premium payment options”.
- Source
- Life Saral Jeevan Bima — official product page
- Page / section
- Published product metadata
- Accessed
- 23 Aug 2026
- Confidence
- high
Benefits and features
- Standard term cover
- Multiple premium modes
- Pure-risk protection
Eligibility
- Minimum entry age 18 years
Passing a listed condition does not mean the bank will approve an application.
Related official documents
SBI Life Saral Jeevan Bima brochureproduct-brochure · current · accessed 26 Aug 2026
↗Saral Jeevan Bima Brochureofficial-brochure · official-brochure · accessed 29 Aug 2026
↗SBI Life Saral Jeevan Bima Policy Documentofficial-pdf · official-policy-document · accessed 29 Aug 2026
↗SBI Life Saral Jeevan Bima policy document V02policy-document · current · accessed 26 Aug 2026
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