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LIC Jeevan Umang Plan


LIC’s Jeevan Umang Plan (845) is a non-linked, with-profit whole life assurance plan. This plan provides for annual survival benefits from the end of the premium paying term till maturity and lump sum payment at the time of maturity or on the death of the policyholder during the policy term.

LIC Jeevan Umang Plan – Benefits:

Death Benefit:
On death before the commencement of Risk: An amount equal to the total amount of premium/s paid without interest shall be payable On death after the commencement of Risk: ‘Sum Assured on Death ‘vested simple reversionary Bonus + FAB if any. Where ‘Sum Assured on Death’ is defined as the highest of Basic Sum-Assured, OR 10 times of Annualized Premium, OR 105%of all Premiums paid as on death

On survival:
On survival, 8% of Basic Sum Assured shall be payable each year Surrendered Value: The Policy can be surrendered at any time during the policy term provided at least three full years premiums have been paid.

Eligibility and Restrictions 
Minimum age90 days (Completed)
Maximum age55 years for Premium paying term 15 years
50 years for Premium paying term 20 years
45 years for Premium paying term 25 years
40 years for Premium paying term 30 years
Minimum age at PPT30 years
Maximum age at PPT70 years
Premium paying term15, 20, 25 and 30 years
Policy Term/ Maturity100 (-) minus Age at entry
Minimum Sum AssuredRs.2,00,000
Maximum Sum AssuredNo limit
Premium PaymentYearly / Half yearly / Quarterly / Monthly (Thru Bank)
LoanEligible after 3years