Jeevan Umang

Plan : LIC's Jeevan Umang(845)

LIC Jeevan Umang is an endowment cum whole life plan which offers a regular payout from the end of the premium payment term till the date of your survival. This plan is a participating plan eligible for Simple Reversionary Bonus and Final Addition Bonus.

Key Features of LIC Jeevan Umang Policy:
• This is an endowment cum whole life policy
• Offers 8% of Sum Assured after the premium payment term - till you are alive or till the age of 100
• Plan offers Simple Reversionary Bonus & Final Addition Bonus
• Tax Benefits on Premiums, Death Benefit & Maturity Benefits

Benefits of LIC Jeevan Umang Policy:
Death Benefit
• Incase of policyholder death before the “Risk Commencement Date” - All the premiums paid will be returned to the nominee.
• Incase of policyholder death after the “Risk Commencement Date” - The nominee will get the Sum Assured.

Sum Assured on Death is the highest of the following:
• 10 times the Annualised Premium
• Basic Sum Assured + Simple Reversionary Bonus + Final Addition Bonus
• The Death Benefit will never be less than 105% of all premiums paid.
• The premiums referred in the Death Benefit do not include taxes, Rider premiums and any increased premium on account of underwriting decisions.

Survival Benefit
• On completion of a year after the premium payment term, the policyholder will start get 8% of the Basic Sum Assured every year.
• This amount is payable every year till he reaches the age of 100 or he dies, whichever is earlier.

Maturity Benefit
• On reaching 100 years of age, the policyholder will get the Sum Assured + Simple Reversionary Bonus + Final Addition Bonus.

Loan Facility
• You will be eligible to get a loan against this policy once it acquires a Surrender Value.
• This plan gets a Surrender Value only after 3 full years of premiums have been paid.
• The loan amount and interest rate would depend on the prevailing at the time of taking the loan.