LIC Jeevan Umang Insurance Policy: GUARANTEED benefits! NO LIMIT on maximum basic sum assured - All details here

LIC Jeevan Umang Insurance Policy offers a combination of income and protection to your family. This plan provides for annual survival benefits from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on death of the policyholder during the policy term. In addition, this plan also takes care of liquidity needs through loan facility.

Under LIC Jeevan Umang Insurance Policy, you get GUARANTEED survival benefit equal to 8% of basic sum assured each year after the final premium, till age 99 and lump sum maturity benefit on survial to age 100.

Top features:

Age eligibility: 90 days to 55 years

Minimum basic sum assured: Rs 2 lakhs

Maxium basic sum assured: NO LIMIT

Premium paying term: 15, 20, 25 and 30 years

Policy term: 100 minus age at entry years

SPECIAL FEATURES:-

Life long risk cover till age 100

Bonus throughout the term

Final additional bonus (if any)

Loan facility

LIC Jeevan Umang

UIN: 512N312V02

Plan numbers 945

LIC Jeevan Umang is a non-linked, participatng, individual, life assurance saving (whole life) plan

LIC Jeevan Umang: How to buy?

Contact your agent/branch or visit our website www.licindia.in or

SMS 'YOUR CITY NAME' to 56767474

LIC Jeevan Umang Policy: Benefits payable under an inforce policy:

Death Benefit:

On death of the Life Assured during the policy term, provided all due premiums have been paid then

On death before the commencement of Risk:Return of premium/s paid without interest shall be payable.

On Death after the commencement of Risk :Death Benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses (as mentioned in 2 below) and Final Additional bonus, if any, shall be payable. Where “Sum Assured on Death” is defined as the highest of 10 times of annualised premium; or Sum Assured on Maturity; or Absolute amount assured to be paid on death, i.e. Basic Sum Assured. This death benefit shall not be less than 105% of all the premiums paid as on date of  death. Premiums referred above shall not include any taxes, extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any.

Survival Benefit :

 On the life assured surviving to the end of the premium paying term, provided all due premiums have been paid, a survival benefit equal to 8% of Basic Sum Assured shall be payable each year. The first survival benefit payment is payable at the end of premium paying term and thereafter on completion of each subsequent year till the Life assured survives or till the policy anniversary prior to the date of maturity, whichever is earlier.

Maturity Benefit:

On the life assured surviving to the end of the policy term, provided all due premiums have been paid, “Sum Assured on Maturity” along with vested Simple Reversionary Bonuses (as mentioned in 2 below) and Final Additional bonus, if any, shall be payable. Where “Sum Assured on Maturity” is equal to Basic Sum Assured.