LIC Jeevan Umang policy & Benefits
LIC Jeevan Umang policy
LIC Jeevan Umang pension policy is a regular premium plan which gives a non-taxable pension for a lifetime. This plan offers a combination of income and protection to your family. Jeevan Umang plan provides for annual survival benefits from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on the death of the policyholder during the policy term.
Features of LIC Jeevan Umang policy
- Lifetime 8% of Sum Assured every year after maturity survival benefits.
- Suitable plan for from 18 years to 55 years.
- Whole Life Plan which gives a Pension as well as any time lump-sum payment
- With the best riders like Accidental Benefit Rider, Term Rider and Critical Illness riders.
- All premiums paid to LIC Jeevan Umang are exempted from income tax under 80C
- All returns from this plan like yearly pension, withdrawal before maturity, any claim
- Maturity is tax-free under 10 (10D).
- 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)
- Age 55 for 15 PPT
- Age 50 for 20 PPT
- Age 45 for 25 PPT
- Age 40 for 30 PPT
- 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 and monthly
- Survival & Maturity Benefits: On successful completion of the premium paying term(PPT), 8% of the Basic Sum Assured per year will be paid as survival benefits up to a year prior to Maturity, and on completion of the policy term, Basic Sum Assured + Simple Reversionary Bonus +FAB will be paid as maturity claim.
- Death Benefits: If death happens before the commencement of risk, all premiums paid, excluding taxes, will be paid to the nominee as a death claim. If death happens after the commencement of risk, then the basic sum Assured + Bonus + FAB will be paid to the nominee as a death claim.
- Commencement of Risk: If the policyholder is less than 8 years old, then, the life cover will start 2 years after policy purchase or completion of 8 years of age, whichever is earlier.
Buy LIC Jeevan Umang plan from any place in the World, Call 9886568000