Jeevan Umang
- Plan No.: 945
- UIE: 512N312V01
This plan ensures the policyholder and the family with a combination of income and financial protection. LIC Jeevan Umang Plan (T-945) is a Limited Premium Paying whole Life Endowment Plan which provides Life Time Guaranteed Pension of 8% after the Premium Paying Term and till the age of 100 and also provides Maturity at the end of the term or on death to the nominee. In the scenario of decreasing interest rates, this plan provides an 8% guaranteed return per annum.
Death Benefit
The basic sum assured will be a 105% return on all the premiums paid to the date. On the life assured surviving the end of policy term (100- Age at entry) provided all premiums have been paid Sum Assured along with vested simple reversionary bonus and FAB(if any) shall be payable.
Survival Benefit
The basic sum assured will be a 105% return on all the premiums paid to the date. On the life assured surviving the end of policy term (100- Age at entry) provided all premiums have been paid Sum Assured along with vested simple reversionary bonus and FAB(if any) shall be payable.
Maturity Benefit
On the life assured surviving the end of policy term (100- Age at entry) provided all premiums have been paid Sum Assured along with vested simple reversionary bonus and FAB(if any) shall be payable.
Eligibility Criteria
| Age at Entry | 90 Days (Completed) |
| Premium Paying Term (PPT) | 15, 20, 25, & 30 Years |
| Maximum Age at Entry in Years) (As per Nearest Birthday) | 55 for 15 PPT 50 for 20 PPT 45 for 25 PPT 40 for 30 PPT |
| Minimum Age at the end of PPT 30 Years (SB will commence after PPT) | For age 0 to 4 years minimum PPT will be 30 years For age 5 to 9 years minimum PPT will be 25 years For age 10 to 14 years minimum PPT will be 20 years For age 15 and above minimum PPT will be 15 years |
| Age at Maturity | 100 Years (Nearest Birthday) |
| Policy Term | 100 - Age at Entry |
| Basic Sum Assured | 2,00,000 and above in multiples of 25,000 |
| Premium Paying Mode | Yearly, Half Yearly, Quarterly & Monthly (SSS and NACH Only) |
| Premium Payment Mode rebate | 2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly |
| Loan and surrender | Available after 3 years |
