Saral Jeevan Bima: the IRDAI standardised term plan explained
By Editorial Team· 31 May 2026· 4 min read
In 2021, IRDAI rolled out Saral Jeevan Bima — a standardised term plan every insurer must offer with identical features and exclusions. The idea: make comparison so easy that buyers can pick on price alone.
Standard features
- Sum assured: ₹5 lakh to ₹25 lakh (capped lower than regular term)
- Entry age: 18-65 years
- Term: 5-40 years
- Single premium / regular premium / limited pay options
- Mandatory 45-day waiting period for non-accidental death
The catch
Saral Jeevan caps cover at ₹25L. For most metro households, that's not enough. It's a great starter term plan, but you'll likely need a regular term plan layered on top for adequate protection.
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Editorial Team
Independent insurance writers and former product managers from leading insurers — focused on plain-English explainers, no marketing fluff.
Published 31 May 2026· 4 min read
