LIC Jeevan Umang
India’s largest life insurer, LIC, is back with a plan that helps people of all age feel secure and also garner impressive returns. The combination of insurance and impressive corpus generation is helping this new policy make waves. One can easily depend upon this new policy to safeguard his or her life and also build a useful corpus.
LIC Jeevan Umang (845) provides cover to the people of age 100; one can also earn annual survival benefit from the end of premium paying term till the age of 99. The policyholder also receives a lump sum payment at the time of maturity otherwise the nominee receives a lump sum amount after the death of the policyholder.
LIC Jeevan Umang guarantees annual surviving benefits to the policyholders who complete the premium paying term with a minimum payment of 2 lakh rupees. The survival benefit comes around to be 8% of the basic sum assure. The survival benefit will also include 8% on the paid up sum assured. Policyholders will receive their first survival benefit at the end of premium-paying term and then onwards at the end of every year. It is important for policyholders to understand that they can receive survival benefit only up to the age of 99.
Who can buy LIC Jeevan Umang?
LIC Jeevan Umang is turning out to be a great tool of securing life and also generating a steady income. One can always depend upon policies like LIC Jeevan Umang and receive their life goals, whether short or long term, with great ease.
Anyone who is in-between the age of 90 days to 55 years can be labelled as the policyholder of LIC Jeevan Umang. Parents can buy this useful policy for their nascent kids, while the middle age people can depend upon this for securing their retirement with a steady flow of 8% of basic sum assured on annual basis.
What is the minimum premium-paying term for LIC Jeevan Umang?
PPT premium-paying term is the number of years a policyholder is bound to pay premium for a policy. For LIC Jeevan Umang the minimum PPT is 15 years.
One can also choose PPT between 15, 20, 25 and 30 years. The maximum age to own LIC Jeevan Umang policy is 55 years hence anyone who choses to 15 PPT, will have to pay premium till the age of 70 years.
What is the unique selling proportion of LIC Jeevan Umang?
LIC Jeevan Umang has made quite some noise in the market but 8% return on annual basis is not the only reason of its grand success. There are other attributes to this policy that makes sense and can prove to be of great use to policyholders.
Some of the additional benefits of Jeevan Umang are listed here:
- Accidental death benefit
- Disability benefit
- Term insurance
- Critical illness benefit
- Loan facility
Let’s take an example Of Ajay whose age is 25 If He takes This Policy Of Sum Assured 12,50,000.
Term -15 Years
Premium Amount -1,00,000/-
After 15 Years He Will Get 1,00,000/- Every Year For The Rest Of Life And After Him, His Family Will Get A handsome amount. ( If For Example, Ajay Will Live Up to Age 70, then his Family Will Get Rs.84,43,750. And If Till Age 75, Then 87,50,000.)
VK Sharma, Chairman of LIC, is expecting the insurance industry to clock a double-digit growth in the coming years. He said LIC Jeevan Umang is a unique combination of Endowment, Whole Life, and Annuities plans.
If you are interested in knowing more about this plan, Contact Us, we will help you get this policy at the best possible price.