Kasinathan Insurance Consultant

LIC Jeevan Umang Plan is a non-market-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.

Plan name : 945-Jeevan Umang

Age Entry : 0(90days)-55 yrs  

Policy Term : 100-age entry 

P.P.T. : 15/20/25/30 

Sum Assured : 2,00,000-No limit 

Sum Assured multiples : 25000 

Mode of payment  : All 

ServiceTax
1st year : 4.5% 
Subsequent year : 2.25%  

Loan : After 2 yrs 

Surrender : After 2 yrs 

Risk Cover : 
SA+Bonus+FAB 
SumAssured on death is higher of Basic SA or 7 times of annualized premium 
Death benefit shall not be less than 105% of all the premiums paid

Returns : 
8% of Sum Assured will be given every year after ppt to Age 100(till survives) 

On Maturity :  
SA+Bonus+FAB

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).