The LIC Jeevan Umang Plan is a whole life insurance policy created to provide your family with financial security and protection while you are away. From the conclusion of the premium-paying period until the time of maturity, this plan offers yearly survivor benefits. Additionally, it provides a lump sum payment upon maturity or in the event of the policyholder’s passing within the policy term.
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The primary advantage of this plan is that it provides both money and insurance coverage to assist the insured’s family in their absence. In the event of an emergency, the assured benefits serve as a reliable financial safety net.
Why should you choose the LIC Jeevan Umang policy?
Tax-free maturity
Death benefit
Life-long risk cover till the age of 100
Guaranteed income till the age of 30
LIC Jeevan Umang policy: Eligibility
Entry Age: 90 days minimum and 55 years maximum.
Policy Term: 100 years of age at entry
Minimum sum assured: 2,00,000
Maximum sum assured: no limit
LIC Jeevan Umang policy: Benefits
LIC accidental death
Disability rider benefit
LIC Accidental benefit rider
LIC New term assurance rider
LIC new critical illness rider
LIC premium waiver benefit
LIC Jeevan Umang policy: Calculator
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For instance, A 30-year-old male buying the policy can invest monthly Rs 5,000, quarterly Rs 15,000 or yearly Rs 50,000. The minimum sum assured is Rs 2,00,000. Let’s assume he is looking for the following coverage:
Sum Assured – Rs. 10,00,000
Policy Term – (100 minus 30 years) = 70 years
Premium Paying Term – 20 years
