LIC Saral Jeevan Bima 859 Premium Calculator: Instant Quote Guide

1. Introduction

LIC Saral Jeevan Bima 859 premium calculator is a simple online tool that in a matter of seconds displays the exact premiums and coverage details. As a pure term plan, it offers a simple life cover without any added features or complications. It is still the best choice for those who want to have the maximum coverage for the minimum possible cost. You get official LIC prices right away from your home, no agents required, no waiting for quotes, just clear numbers to decide quickly.

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2. About the Plan - Key Details

Plan Basics: LIC Saral Jeevan Bima Plan No. 859 (UIN: 512N341V01) is a non-linked, non-participating, individual pure term life insurance policy that was introduced in 2021.

Who Can Buy: Minimum entry age is 18 years and maximum is 65 years. Coverage continues up to age 70 only.

Policy Term Options: You can choose any term between 5 and 40 years. Premium payment term equals policy term (regular payment only).

Sum Assured Range: Minimum sum assured stands at 5 lakh and goes up in multiples of ₹50,000. There is no upper limit except underwriting rules.

Age Calculation Method: LIC uses nearer birthday method for correct age and accurate premium.

Special Points: It is an IRDAI mandated Saral category plan. Many buyers get it issued without medical tests for lower sums. Waiting period of 45 days applies from policy start date except accidental death.

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3. Key Features & Benefits

Death Benefit: Full sum assured is paid if death happens after the 45 day waiting period. For suicide in first year, 80% of total premiums paid is returned.

No Maturity Benefit: This is pure protection. Nothing is paid if you survive the full term.

Tax Advantages (2026 Rules): Premiums qualify for 80C deduction up to 1.5 lakh. Death benefit stays fully tax free under 10(10D).

Rider Option: Accidental death benefit rider is available at extra premium.

Lower Premium Rates: Women and non smokers enjoy discounted rates. Non smokers save up to 20% and women around 10%.

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4. How to Use LIC Saral Jeevan Bima 859 Premium Calculator (Step by Step)

Step 1: Enter Date of Birth

Click on the calendar icon and select your date. The age will be calculated automatically and updated on nearest birthday basis. The calculator will instantly verify if your age is within the 18 to 65 limit for the selected term.

Step 2: Choose Sum Assured

Input or select the cover starting at 5 Lakh. The value can only be in multiples of ₹50,000. Some of the most common sums would be ₹10 lakh, ₹25 lakh, ₹50 lakh, and so forth.

Step 3: Policy Term

Input a period between 5 and 40 years to use the tool. Any term resulting in a maturity age of over 70 years is disallowed by the tool.

Step 4: Pick Gender and Smoking Status

Select Male or Female and Smoker or Non Smoker. Premium drops visibly for non smokers and females.

Step 5: Select Payment Frequency

You can select either a yearly or a half-yearly option. Half-yearly has a small loading, but it is useful for monthly budgeting.

Step 6: Press the Calculate Button

The results are displayed immediately on the right side. In clear rupees, you can see exact age, sum assured, term, base premium, GST amount, and total payable premium.

Step 7: Compare Various Alternatives

Changing smoking status, term, or sum assured and recalculating within seconds is possible. Find out how much you save by being a non-smoker or by choosing a longer term at a younger age. The reset button allows you to start over.

Fix Common Errors Quickly

Red messages tell exactly what is wrong like sum assured below minimum or age limit crossed. Adjust the field and error disappears.

The whole process finishes in under two minutes and gives 100% accurate LIC premiums directly.