LIC Jeevan Umang Plan, a participative endowment plan offers regular income and risk cover. A perfect plan suitable all your needs like child education with guaranteed returns from 16th year, lump-sum payment for marriage etc., Some can plan for a lifelong pension from 16th year onwards also. There are 4 modes of premium terms under this plan which can be chosen at the beginning of starting the policy.
Tax Savings with LIC Jeevan Umang Plan
LIC Tax Saving plans are many but this plan would give dual tax benefits which makes this plan very popular among all. All premium paid to this plan may be considered under section 80C, and returns are 100% tax-free under section 10 (10D ) of the Income-tax act.
A plan which allows you to withdraw fully or leave it with LIC of India, get tax-free yearly Money-back till 100th Birthday. In case of any eventuality during the term of the policy or after the Money-back starts, a lump sum would be paid to the nominee.
LIC Jeevan Umang plan Features
Benefits under LIC Jeevan Umang Plan are:
Additional benefits offered under LIC Jeevan Umang Plan
LIC agent is pleased to explain all LIC Jeevan Umang Plan details and clear your doubts
FAQs
You can stop the policy at any time, but you may not receive any benefits. Premium paid for continuous 3 years would get some benefit.
Yes, after 2 years continuous premium payment and at the beginning of 3rd-year surrender value can be obtained.
Yes, Insurance cover would start from the day the policy number is issued.
Under this policy, The accidental rider is optional and available only on paying an extra premium amount. If the rider is chosen, the nominee would get the additional sum assured on the death of the insured due to an accident.
5. Can I increase the Insurance cover after one year?
Yes, you can buy a new policy. The existing policy, insurance cover cannot be changed and continue to be the same throughout the term.
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