Jeevan Umang Plan (845) is a non-linked, with-profits whole life assurance plan. This plan provides for annual survival benefits from the end of the premium paying term till maturity and lump sum payment at the time of maturity or on death of the policyholder during the policy term.
• Minimum Sum Assured: 2,00,000
• Maximum Sum Assured: NO LIMIT (Depending upon Income)
• Policy Term: [100 – age entry] Year
• PPT: 15 year
• Minimum Entry Age: days (completed)
• Maximum Entry Age: 55 years (Nearest
Birthday) for PPT = 15
50 years (Nearest Birthday) for PPT = 20
45 years (Nearest Birthday) for PPT = 25
40 years (Nearest Birthday) for PPT = 30
• Minimum age at the end of the PPT : years(Nearest Birthday)
• Maximum age at the end of the PPT : years(Nearest Birthday)
• Age at Maturity : years(Nearest Birthday)
• Mode of Premium Payment: Yearly, half-yearly, quarterly & monthly
• Maximum Accidental Death and Disability Benefit Rider up to age 70.
• Maximum Accidental Benefit Rider shall be available during the ppt only.
LIC’s Jeevan Umang Benefit Details
• On Death: Death during 5 yrs : SA on Death + GA
On death before the commencement of Risk: An amount equal to the total amount of premium/s paid without interest shall be payable.
On death after commencement of Risk: Sum Assured on Death+vested simple reversionary Bonus + FAB if any.
Where Sum Assured on Death is defined as the highest of
10 times of Annualized Premium, OR
105%of all Premiums paid as on death
• On Survival : On survival 8% of Basic Sum Assured shall be payable each year.