LIC Jeevan Umang is a life assurance plan meaning that the insurance holder will be covered till he/she turns 100 years of age. The key benefit of this plan is that it comes with dual benefits of income and insurance protection to help the family of the insured in his/her absence. The assured benefits act as a strong financial backup in case of any emergency. 

  • Why Choose LIC Jeevan Umang?
  • Features of LIC Jeevan Umang Plan
  • Eligibility Criteria of LIC Jeevan Umang Plan
  • Benefits Offered by LIC Jeevan Umang
  • How does LIC Jeevan Umang work?
  • Riders Benefits Offered by LIC Jeevan Umang Policy
  • Sample Illustration of Premiums
  • Other Details of the LIC Jeevan Umang Plan
  • Tax Implications of LIC Jeevan Umang
  • Required Documents
  • Policy Exclusions of LIC Jeevan Umang
  • FAQs

Why Choose LIC Jeevan Umang?

  1. Tax-free Maturity & Death Benefit

    All proceeds from LIC Jeevan Umang, be it on the death of the policyholder, at maturity of the policy, or the annual survival benefits, are entirely tax free under Section 10(10D) of the Income Tax Act, 1969.

  2. Life-long Risk Cover till the Age of 100

    The life cover against the risk of death of the policyholder starts from the date of issuance and lasts till he/she reaches 100 years of age.

  3. Guaranteed Income from the Age of 30

    Policyholders can buy this policy for themselves or their children and secure a lifetime annual income until 100. These are paid survival benefits for surviving every year till coverage ends.

Features of LIC Jeevan Umang Plan

  • This LIC plan provides annual survival benefits starting at the end of the premium payment tenure and continues till maturity.

  • The plan also provides a lump sum amount as a maturity benefit at the end of the policy term, if the insured survives.

Read More

Eligibility Criteria of LIC Jeevan Umang Plan

Let’s take a look at the eligibility criteria of the policy:

Eligibility CriteriaMinimumMaximum
Entry Age90 days55 years
Policy Term100 years- Age at entry
Sum AssuredRs. 2,00,000No limit
Maturity Age100 years
Premium paying term15 years, 20 years, 25 years, and 30 years
Age at the end of premium paying term30 years70 years

Benefits Offered by LIC Jeevan Umang

Here are some of the prime benefits of the LIC Jeevan Umang plan:

  1. Death Benefit

    • On Death of the Life Assured Before the Commencement of Risk

    Nominees can claim the entire premium amount paid (Return of premium).

    • On Death of the Life Assured After the Commencement of Risk & Before Maturity

    Nominee can claim the higher amount between 7 times the annual premium and the basic sum assured amount. Applicable bonuses such as the simple reversionary bonus and final additional bonus are also paid out along with the death benefit.

  2. Survival Benefit

    • If the life assured survives the premium payment tenure and provided the policy is in force, LIC Jeevan Umang starts paying out an annual survival benefit.

    • It is equal to 8% of the basic sum assured amount.

    • The same amount is offered every year till the policyholder survives or till the last plan anniversary before the date of maturity (whichever event occurs earlier).

  3. Maturity Benefit

    In case the life assured survives the specified maturity date, then LIC offers them the basic sum assured along with the simple reversionary bonus and final additional bonus if any.

  4. Loans

    The loan facility can be availed under the LIC Jeevan Umang plan as per the following terms and conditions:

    • A policyholder is eligible for a loan if they have paid premiums for a minimum of 2 years without fail.

    • If in case the loan is availed during the premium paying term, the maximum loan amount is limited to 90% of the surrender value.

    • In the case of paid-up policies, the cap on the loan amount is 80% of the paid-up value.

    • Any loan unpaid shall be recovered from the claim proceeds during exit along with the applicable interest.

Read Less

How does LIC Jeevan Umang work?

Let’s take the example of Dev who is a 30-year-old male at the time of buying this policy. Assuming that he is looking for the following coverage –

  • Sum Assured – Rs. 10,00,000

  • Policy Term – (100 minus 30 years) = 70 years

  • Premium Paying Term – 20 years

Read More

Riders Benefits Offered by LIC Jeevan Umang Policy

The following riders can be added to the LIC Jeevan Umang plan to increase the coverage.

Read More

Sample Illustration of Premiums Charged Under LIC Jeevan Umang

You can use the LIC Jeevan Umang calculator to get your premium quotes before purchasing the plan. The following is a sample illustration of annual premium rates (in Rs.) for a basic sum assured of Rs.2 lakhs across various entry ages and premium paying terms.

Entry AgePolicy TermPremium Paying Term
15 years20 years25 years30 years
20 years80 years16,447/-11,173/-8,182/-6,380/-
30 years70 years16,447/-11,173/-8,234/-6,565/-
40 years60 years16,447/-11,224/-8,664/-7,190/-
50 years50 years16,447/-12,063 /-NANA

Other Details of the LIC Jeevan Umang Plan

  1. Grace Period

    A grace period is 15-30 days offered by LIC to policyholders who have failed to pay a due premium amount. The policy lapses if payment is not done by the end of this period.

  2. Free-look Period

    A free look period of 15 days from the date of policy initiation is offered by LIC. During this period, the policyholder can cancel the policy if he/she is dissatisfied with its terms and conditions.

  3. Policy Surrender

    The policyholder can surrender the policy, provided the premiums are duly paid for two consecutive years. On surrender of the policy, the insurance company will pay a surrender value equal to the special surrender value or the guaranteed surrender value (whichever is higher).

  4. Loan Facility

    Policyholders can take loans to fund urgent needs. The maximum loan amount is subject to the following conditions –

    • 90% of the surrender value for active policies.

    • Annual interest charged on the loan amount by LIC should not exceed 50% of the annual survival benefit

  5. Paid-up Value

    In case the life assured has paid premiums for 2 years but stops after, then the policy will continue as a paid-up policy. In such cases, the sum assured shall decrease as per the remaining premiums.

    The paid-up sum assured on death is equal to:

    • Number of premiums paid/ total number of premiums to be paid X sum assured on death

    Similarly, the paid-up sum assured on maturity is equal to:

    • Number of paid premium/ total number of premiums to be paid X sum assured on maturity

Tax Implications of LIC Jeevan Umang

Statutory taxes, if any, are imposed by the constitutional Tax Authority of India as per the prevailing tax laws. The tax rates are subject to revision from time to time. The taxes applicable shall be paid by the policyholder on the premium for the base policy and riders.

Read More

Policy Exclusions of LIC Jeevan Umang

  • If the life assured dies by suicide within the first 12 months of the policy, nominees can only claim 80% of the premiums paid till the date of death.

  • If the life assured dies by suicide after completing 12 months from the date of revival of the policy, nominees can claim the higher 80% premiums paid to date or the acquired surrender value.

कैसे खरीदें ?

आप इस प्लान को ऑफलाइन यानी की एलआईसी एजेंटों के माध्यम से खरीद सकते हैं।

Or Call @ 9990190909
Email- [email protected]

 

 

LIC Jeevan Umang Policy: Get Rs. 36,000 every month by investing just Rs. 42 per day

LIC धन वर्षा प्लान 866 – Plan Details with Maturity Example

LIC धन वर्षा पॉलिसी 866 – इस नए एलआईसी प्लान में पायें 10 गुना से भी ज्यादा लाभ LIC धन वर्षा पॉलिसी ( lic dhan varsha plan ) की तालिका संख्या 866 है। एलआईसी की यह योजना एक पुराने प्लान jeevan vriddhi की याद दिलाता है जो 10 वर्ष पहले लॉन्च हुआ था। उस समय LIC के उस...

LIC न्यू पेंशन प्लस प्लान Table No- 867 की पूरी जानकारी

LIC न्यू पेंशन प्लस प्लान Table No- 867 की पूरी जानकारी

LIC न्यू पेंशन प्लस प्लान (LIC New Pension Plus) जिसकी तालिका संख्या 867 है, 5 सितम्बर 2022 को लॉन्च होने वाली है। इसके लॉन्च होते ही, यह एलआईसी की तीसरी पॉलिसी बन जायेगी जो 2022 में लॉन्च हुई है। LIC न्यू पेंशन प्लस प्लान 867 यूनिट लिंक्ड पेंशन प्लान है इसका मतलब यह...

LIC for NRIs/FNIOs/PIOs/OCIs/Green Card holders

LIC Pension Plan Jeevan Shanti NRIs spend their whole life working abroad with a dream of a happy life when they return home after retirement. They keep investing their money in different options available viz. stocks, mutual funds, property, gold, and LIC Life...

LIC Jeevan Umang Policy: Get Rs. 36,000 every month by investing just Rs. 42 per day

2.77 लाख रु निवेश करें और पाएं 10 लाख रु, ये है स्कीम-LIC

भारतीय जीवन बीमा निगम (एलआईसी) देश की सबसे बड़ी और सरकारी बीमा कंपनी है। इसके पास कई बीमा पॉलिसियां हैं। इनमें से एक है जीवन आनंद पॉलिसी, जो भरोसेमंद है और निवेशकों को तगड़ा रिटर्न दिलाती है। आज हम आपको इस एलआईसी पॉलिसी के बारे में विस्तार से बताने जा रहे हैं। ये दो...

LIC Jeevan Umang Policy: Get Rs. 36,000 every month by investing just Rs. 42 per day

LIC Jeevan Labh Plan: LIC का सबसे ज्यादा बिकने वाला प्लान

LIC Jeevan Labh Plan LIC Jeevan Labh Plan: आज हम LIC का एक ऐसा प्लान देखेंगे जिसे लेने के बाद में आपको 9 साल तक कोई भी क़िस्त भरनी ही नहीं है। इस प्लान की सबसे बड़ी खास बात यह है कि जितने टाइम तक यह पॉलिसी चलती है उससे कम समय तक ही हमें अपना प्रीमियम जमा करना होता...

LIC Jeevan Umang Policy: Get Rs. 36,000 every month by investing just Rs. 42 per day

LIC Dhan Sanchay (Table No-865) || एलआईसी धन संचय प्लान

एलआईसी धन संचय प्लान (LIC Dhan Sanchay Plan) LIC Dhan Sanchay (865) in Hindi: आज हम बात करने वाले हैं,  LIC के नए प्लान धन संचय के बारे में . जिसका टेबल नंबर 865 है। LIC ने 14 जून 2022 को इस प्लान को लॉन्च किया है। यह एक बिलकुल ही अलग टाइप का प्लान है। इस प्लान में...

करोड़पति बनने के लिए 7 आसान टिप्स- बस छोटा सा करना होगा काम

Investment Tips: आपके करोड़पति बनने का ख्वाब पूरा करेंगी ये 7 आसान टिप्स- बस छोटा सा करना होगा काम Investment Tips: अगर आप अभी से अपने फ्यूचर की चिंता है तो आपके वक्त रहते अपने पैसे बचा लेने चाहिए. इसके लिए बस आपको थोड़ी सी मेहनत करनी पड़ेगी. How to become Crorepati:...

LIC Jeevan Umang Policy: Get Rs. 36,000 every month by investing just Rs. 42 per day

LIC DHAN REKHA Plan T-863 latest

एलआईसी धन रेखा (प्लान नंबर 863) - समीक्षा, विशेषताएं और लाभ एलआईसी वित्तीय वर्ष के बंद होने से कुछ महीने पहले नई बीमा योजनाओं के साथ आता है। इस बार वे थोड़े जल्दी हैं। एलआईसी ने धन रेखा योजना नंबर 863 लॉन्च किया है। एलआईसी का यह नया प्लान गारंटीड एडिक्शन के साथ मनी...