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

The LIC Jeevan Umang Plan is a whole life insurance policy created to provide your family with financial security and protection while you are away. From the conclusion of the premium-paying period until the time of maturity, this plan offers yearly survivor benefits. Additionally, it provides a lump sum payment upon maturity or in the event of the policyholder's passing within the policy term. 

The primary advantage of this plan is that it provides both money and insurance coverage to assist the insured's family in their absence. In the event of an emergency, the assured benefits serve as a reliable financial safety net.

Why should you choose the LIC Jeevan Umang policy?

• Tax-free maturity 
• Death benefit
• Life-long risk cover till the age of 100
• Guaranteed income till the age of 30

LIC Jeevan Umang policy: Eligibility

• Entry Age: 90 days minimum and 55 years maximum.
• Policy Term: 100 years of age at entry
• Minimum sum assured: 2,00,000
• Maximum sum assured: no limit

LIC Jeevan Umang policy: Benefits

• LIC accidental death 
• Disability rider benefit
• LIC Accidental benefit rider
• LIC New term assurance rider
• LIC new critical illness rider
• LIC premium waiver benefit

LIC Jeevan Umang policy: Calculator
For instance, A 30-year-old male buying the policy can invest monthly Rs 5,000, quarterly Rs 15,000 or yearly Rs 50,000. The minimum sum assured is Rs 2,00,000. Let’s assume he is looking for the following coverage:

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