LIC Jeevan Umang policy: Invest Rs 5,000 monthly and get Rs 10,00,000 at maturity; check eligibility, features

The Jeevan Umang plan from LIC gives your family both income and protection. From the end of the premium-paying period until maturity, this plan offers yearly survival benefits. It also offers a lump sum payment at maturity or in the event of the policyholder's passing during the policy term.

Additionally, this plan uses a lending facility to address any liquidity needs.

LIC Jeevan Umang Plan: Features

• The plan also provides a lump sum amount as a maturity benefit at the end of the policy term, if the insured survives.
• The annual survival benefits under this LIC plan begin at the conclusion of the premium payment period and continue until maturity.

LIC Jeevan Umnag Plan: Eligibility

• The entry Age for the LIC Jeevan Umang Plan is 90 days and a maximum of 55 years. 
• Policy Term: 100 years- Age at entry
• The minimum sum assured in this plan is Rs 2,00,000 and the maximum is no limit.

LIC Jeevan Umang Plan: Calculator
For instance, a 30-year-old buys the policy and invests Rs 5,000 monthly. Let’s assume he/she is looking for the following coverage then quarterly he/she will have to invest Rs 15,000 or yearly Rs 50,000:

Sum Assured - Rs. 10,00,000
Policy Term - (100 minus 30 years) = 70 years
Premium Paying Term - 20 years