LIC Jeevan Umang (Table No: 845) is a non-linked whole life assurance plan which provides fixed yearly amount (8% of Sum Assured/Year) after completion of premium payment up to 100 year of age and on maturity lump sum amount on maturity (completion of 100 years) or death.
Income Tax Benefit
Premium paid under this plan is eligible for TAX rebate under section 80c.
Maturity under this plan is free under sec 10(10D).
After completion of premium payment, 8% of Basic Sum Assured per year will be paid as survival benefits up to a year prior to Maturity.
Basic Sum Assured + Accumulated Bonus + FAB if any.
Upon death before commencement of risk All premiums paid excluding taxes will be paid to nominee.
Upon death after commencement of risk Basic Sum Assured + Bonus + FAB will be paid to nominee.
Policy Term '100' (minus) Age at entry
Minimum Basic Sum Assured Rs. 2,00,000/-
Maximum Basic Sum Assured No Limit
Minimum Policy Term '100' (minus) Age at entry
Maximum Policy Term '100' (minus) Age at entry
Premium Paying Term 15, 20, 25, & 30 Years
Minimum Entry Age 90 Days (Completed)
Maximum Entry Age (Nearest Birthday) 55 years for 15 PPT
50 years for 20 PPT
45 years for 25 PPT
40 years for 30 PPT
Maximum Age at Maturity for Life Assured 100 Years (Nearest Birthday)
Mode of Premium Payment Yearly, half-yearly, quarterly & monthly
Accidental Death & Disability Benefit Rider available on payment of additional premium.