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🧾 What is LIC Jeevan Umang Plan?

LIC Jeevan Umang (Plan No. 945) is a non-linked, participating whole life insurance plan from Life Insurance Corporation of India (LIC).
It aims to provide insurance protection + lifetime annual income + maturity benefit.

➡️ It combines life cover with long-term savings and regular income after paying premiums.


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📌 Key Features

📆 Policy Duration

The plan lasts till age 100 (policy term = 100 − your age at entry).


💳 Premium Paying Term (PPT)

You can choose how long you will pay premiums:

15 years

20 years

25 years

30 years


After you finish paying, you start getting yearly income.

💼 Entry Age

Minimum Age: 90 days (completed)

Maximum Age: varies by PPT (up to 55 yrs)


💰 Sum Assured

Minimum: ₹2,00,000

Maximum: No upper limit (based on underwriting)


💳 Premium Payment Options

Yearly

Half-yearly

Quarterly

Monthly (ECS/NACH)



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🎯 What You Get (Benefits)

☑️ 1. Survival Benefit

After you finish paying premiums, you receive 8% of Basic Sum Assured every year for life (till age 100).
This is like a regular annual income/pension.

Example:
If Basic Sum Assured = ₹10,00,000 →
Annual income = 8% × 10,00,000 = ₹80,000 per year after premium term ends.


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☑️ 2. Death Benefit

If the insured dies during the policy term (before age 100):

Basic Death Benefit = Sum Assured on Death + Bonuses

Where Sum Assured on Death is the highest of:
✔ Basic Sum Assured
✔ 7 × Annualized Premium
✔ 105% of all premiums paid

BONUS: The policy also earns Simple Reversionary Bonus and possibly a Final Additional Bonus.


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☑️ 3. Maturity Benefit

If you live till age 100, you receive:

✔ Basic Sum Assured
✔ Vested Bonuses
✔ Final Additional Bonus (if any)


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🛡️ Other Important Features

📎 Riders (Optional)

You can add riders for extra protection like:

Accidental Death & Disability

Term Assurance rider

Critical Illness rider

Premium Waiver (for minor life assured)



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💸 Loan & Surrender

You may take a policy loan after a few years once the policy acquires surrender value.

You can surrender (exit) the policy as per LIC rules, but surrender value might be low in early years.



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🧾 Tax Benefits

✔ Premiums paid qualify for deduction under Section 80C (subject to limits).
✔ Survival income, maturity, and death benefits are generally tax-free under Section 10(10D).
#lic #insurance #ytshorts #shorts #youtubeshorts #terminsurance#savings #investment

K. SATYANARAYANA RAJU
LIC &CARE HEALTH INSURANCE ADVISOR
KPHB BRANCH
HYDERABAD
CELL:8885907939
C. M. CLUB MEMBER




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🧠 Who Is It Best For?

✔ Those looking for life insurance + long-term secure income
✔ People who want a pension-style benefit
✔ Investors who prefer low-risk guaranteed income + bonuses


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If you want, I can also estimate premium amounts or example benefits for a specific age and sum assured — just tell me your age, desired sum assured, and premium term (15/20/25/30 yrs)!