Does Saral Jeevan Bima Covers Accidental Death?

Written by : Knowledge Centre Team

2026-07-29

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5 minutes read

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Term insurance coverage is a necessity for your family. It’s not a choice once you have people to look after and you are responsible for their well-being and future. Buying a term insurance is one of the first financial steps you should take.

However, the market is filled with term insurance plans with advanced features like regular income pay-out, return of premium, etc. While you need a term life cover almost immediately when you start earning, understanding the regular term plan needs time and effort.

So, should you leave your family exposed to the adverse financial effects of your untimely demise?

Certainly not. This is where Saral Jeevan Bima takes the lead.

What is Saral Jeevan Bima?

Looking at the need and challenges of buying a regular term insurance plan, insurance regulator IRDAI came up with a standard term cover for the country. Standard means, regardless of which insurer you choose to buy this plan from, the plan’s features, terms and conditions are going to be uniform.

So, this is the one term insurance cover, where you do not need to think or compare, just complete the formalities, and secure the family.

Features of Saral Jeevan Bima

Saral Jeevan Bima is a simple term insurance cover with the following features and conditions:

You can buy Saral Jeevan Bima cover if you are aged between 18 and 65 years of age
The maximum policy term is 40 years. So, if you buy the plan at the age of 30, you can continue the cover till the age of 70, which is also the maximum age until the cover can continue
You can pay the premium in the following modes:
- Regular mode, i.e., throughout the policy term
- Limited premium payment mode of 5 years or 10 years
- In a single shot
The plan features a single exclusion clause for suicide within 12 months of policy commencement
The death benefit is payable as per the highest amount among:
- 10 times the annualized premium
- 105% of total paid premiums till the time of claim
- Sum Assured under the plan
- In the case of a single premium policy, the comparison is between 125% of premium and policy sum assured

Accidental Cover in Saral Jeevan Bima

In the case of a single premium policy, the comparison is between 125% of premium and policy sum assured

In the case of accidental death: Rs. 20 lakhs (sum assured is higher than 125% of premium)
In the case of death from any other cause: Rs. 60,000

Protect Your Family with Affordable Term Insurance

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Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.