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Introduction

This plan ensures the policy holder and the family with a combination of income and financial protection. LIC Jeevan Umang Plan (T-945) is a Limited Premium Paying whole Life Endowment Plan which provides Life Time Guaranteed Pension of 8% after Premium Paying Term and till the age of 100 and also provides Maturity at the end of term or on death to the nominee. In the scenario of decreasing interest rate this plan provides 8% guaranteed return per annum.

Why Jeevan Umang Plan

This plan ensures annual survival benefits annually and also provides a large sum at the end of maturity.

Key Features

After the premium paying terms end, the policy holder will be receiving annual survival benefits until the maturity period.

  • Pay Premium for a Limited Period.
  • Claim 80c Tax Rebate.
  • Enjoy the Risk Cover too.
  • Ensure Your Financial Stability in Future.
  • Get survival Benefit every year at 8% of Basic Sum Assured.
  • 100% Tax Free.
  • PWB Rider available for children.
  • Fixed and Guaranteed by Govt. of India.
  • Enjoy the Extended Risk Cover.
  • Create Estate for Your Family.
  • Maturity with Full Bonus and Tax Free under 10(10D).
  • Special surrender value of 90% of (Basic sum assured + Vested simple reversionary bonus, if any) shall be payable after premium paying term.
  • Optional Riders available viz. Accidental Death and Disability Rider, Term assurance Rider, Critical Illness Rider.
  • Dating Back Facility in same FY.
  • NRI and FNIO Eligible.
  • Loan and Surrender Facility Available.
  • Revival allowed within 2 years from date of FUP.

Death Benefits

The basic sum assured will be a 105% return on all the premiums paid to the date. On the life assured surviving the end of policy term (100- Age at entry) provided all premiums have been paid Sum Assured along with vested simple reversionary bonus and FAB(if any) shall be payable.

Survival Benefits

The policy holder will be receiving annual financial help after the end of the premium paying term. On the life assured surviving the end of premium paying term(PPT) provided all due premiums have been paid: Survival benefit will be equal to 8% of basic sum assured will be paid each year till the life assured survives or till the policy.

Maturity Benefits

On the life assured surviving the end of policy term (100- Age at entry) provided all premiums have been paid Sum Assured along with vested simple reversionary bonus and FAB(if any) shall be payable.

Eligibility Criteria

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)
55 for 15 PPT
50 for 20 PPT
45 for 25 PPT
40 for 30 PPT
Minimum Age at the end of PPT 30 Years (SB will commence after PPT)
For age 0 to 4 years minimum PPT will be 30 years
For age 5 to 9 years minimum PPT will be 25 years
For age 10 to 14 years minimum PPT will be 20 years
For age 15 and above minimum PPT will be 15 years
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 & Monthly
Loan and surrender Available after 3 years
 
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