This plan is a whole life plan which provides continuous guaranteed income @ 8% of SA after the chosen period (accumulation period). The accumulation period can be chosen from 15, 20, 25 and 30 years. Once premium paying completed, 8% of the sum assured will be paid to the policyholder till he survives or till the policy anniversary (100 years) prior to maturity, whichever is earlier.

This plan is very useful for the person who is looking for regular income (pension) after certain age or term.

LIC Jeevan Umang is a conventional, with-profit, non-linked endowment plan that comes with complete life insurance coverage for whole life. The policy provides risk coverage at regular payment from the end of the premium payment term until the date of survival of insured

Highlights of LIC Jeevan Umang Plan

• Jeevan Umang plan is a blessing as it offers insurance coverage for the entire life i.e. for 100 years.
• Guaranteed 8% of the Sum Assured is paid every year as money back on survival at the end of the policy term.
• Best LIC Plan for the person who wants to fix guaranteed pension amount after certain time
• This Plan is non linked with the Market
• The scheme guarantees risk coverage for full Sum Assured from day one of policy.
• The Premium Payment term can be chosen as 15,20,25 or 30 years
• In case of death of insured any time during the policy term, nominee will get full Sum assured and bonus along with FAB, if any.
• The minimum sum assured is Rs 200000 with no maximum limit
• This policy can be taken from 90 days completed to 55 years of age
• The policy offers all premium paying mode i.e. monthly, ecs, quarterly, half yearly and yearly
• This plan offers many additional riders like Accidental Death Benefit Rider, Accidental and Disability Rider, Premium waiver benefits
• There is a Loan and Surrender facility available under this plan
• Premium paid under this policy gets tax benefits under IT act

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