LIC’s Jeevan Umang is a customary, non-connected with-benefit plan entire life confirmation plan. It is a blend of both pay and protection. LIC Jeevan Umang offers a real existence conceal to 100 years. That offers guaranteed survival advantage toward the finish of the premium paying term, a single amount sum on the consummation of the strategy term or on the death of the arrangement holder during the approach time frame.
Key highlights of the LIC Jeevan Umang Plan
- Profit advantage of Tax-Free Guaranteed Income of 8% for Lifetime.
- It is a mix of both customary pay and Lump sum installment.
- Perfect for Savings and Retirement Planning.
- Offers life spread till the policyholder turns 100 years.
- Tax benefit on Premiums paid u/s 80C.
- Tax-Exempt Maturity u/s (10 D).
Qualification Criteria For Jeevan Umang
|Least Age At Entry||90 Years (Completed)|
|Greatest Age At Entry||55 Years (Nearest Birthday) For 15 Years PPT
50 Years (Nearest Birthday) For 20 Years PPT
45 Years (Nearest Birthday) For 25 Years PPT
40 Years (Nearest Birthday) For 30 Years PPT
|Premium Paying Term(PPT)||15,20,25 and 30 Years|
|Age At Maturity||100 Years|
|Policy Term||100 Years|
|Least Sum Assured||2,00,000/ –|
|Most extreme Sum Assured||No Limit (Shall Be In Multiple 25,000/-)|
|Policy Mode||Yearly, Half-Yearly, Quarterly, Monthly (NACH Only)|
|Yearly, Half-Yearly, Quarterly, Monthly (NACH Only)||Yearly – 2%, Half-Yearly – 1%, Quarterly and Monthly – Nil|
|High Sum Assured Rebate (Per Thousand)||2,00,000 To 4,75,000 – Nil
5,00,000 To 9,75,000 – 1.25% On B.S.A. 10,00,000 To 24,75,000 – 1.75% On B.S.A. 25,00,000 and Above – 2.00% On B.S.A.
|Loan||Payment of Premiums For At Least 3 Full Years|
|Revival||Within 2 Years of Lapse|
After fulfillment of premium paying term, 8% of Sum guaranteed is paid each year till 100 years old.
A lump-sum installment comprises of Sum guaranteed + reward is paid on fulfillment of 100 years old.
If there should arise an occurrence of death of life protected before the hazard initiation date, LIC will restore all the premiums paid without enthusiasm to the chosen one. Be that as it may, on the off chance that the policyholder endures a demise after the hazard beginning date, LIC will offer the total guaranteed to the chosen one. This will incorporate basic reversionary reward just as last extra reward assuming any.