LIC’s Jeevan Umang
The Jeevan Umang entire life assurance plan from LIC is a participating, non-linked product that provides your family with both protection and income. This plan offers a lump sum payment at maturity or in the event that the policyholder passes away during the policy term, as well as yearly survival benefits from the end of the premium-paying period until maturity.
Additionally, this strategy uses a borrowing facility to meet liquidity demands.
Description
Whole Life Insurance Cover:
One unique aspect of this policy is that it never requires further premium payments and offers life insurance coverage up until the age of 100.
Whole Life Guaranteed Pension:
From the conclusion of the policy’s paying period until the end of your life, you may depend on getting a guaranteed pension equivalent to 8% of the sum assured.
Triple Benefit:
LIC’s premier plan, Jeevan Umang, extends a triple benefit encompassing lifelong insurance coverage, a lifelong pension, and robust wealth accumulation.
Eligibility Conditions:
| Minimum Basic Sum Assured | 2,00,000 |
| Maximum Basic Sum Assured | No Limit |
| Premium Paying Term | 15, 20, 25 and 30 years |
| Policy Term | (100 – age at entry) years |
| Minimum Age at Entry | 90 days (completed) |
| Maximum Age at Entry | 55 years (nearer birthday) |
| Minimum Age at the End of Premium paying term | 30 years (nearer birthday) |
| Maximum Age at the End of Premium paying term | 70 years (nearer birthday) |
| Age at Maturity | 100 years (nearer birthday) |
(The Basic Sum Assured shall be in multiples of Rs. 25,000/-)
The actual allocation to policyholders, out of the surplus emerging from the actuarial investigation ,shall be as approved by Central Government in accordance with provisions in this regard under LIC Act, 1956.
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