LIC JEEVAN UMANG - Plan No. 945

LIC Jeevan Umang Plan 945 is a most popular Limited Premium Paying whole Life Endowment Plan which provides Life Time Guaranteed Pension of 8% after Premium Paying Term and till the age of 100 and also provides Maturity at the end of term or on death to the nominee. In the scenario of decreasing interest rate this plan provides 8% guaranteed return per annum.

Jeevan Umang Plan Key Features:

Pay Premium for a Limited Period.
Claim 80c Tax Rebate.
Enjoy the Risk Cover too.
Ensure Your Financial Stability in Future.
Get survival Benefit every year at 8% of Basic Sum Assured.
100% Tax Free.
PWB Rider available for children.
Fixed and Guaranteed by Govt. of India.
Enjoy the Extended Risk Cover.
Create Estate for Your Family.
Maturity with Full Bonus and Tax Free under 10(10D).
Special surrender value of 90% of (Basic sum assured + Vested simple reversionary bonus, if any) shall be payable after premium paying term.
Optional Riders available viz. Accidental Death and Disability Rider, Term assurance Rider, Critical Illness Rider.
Dating Back Facility in same FY.
NRI and FNIO Eligible.
Loan and Surrender Facility Available.
Revival allowed within 2 years from date of FUP.

Eligibility for LIC Jeevan Umang

Particulars	Eligibility
Minimum age at entry	90 days (completed)
Maximum age at entry	55 years (NBD) for PPT 15 years
	50 years (NBD) for PPT 20 years
	45 years (NBD) for PPT 25 years
	40 years (NBD) for PPT 30 years
PPT	15,20,25 and 30 years
Minimum age at the end of PPT	30 years (NBD)
Maximum age at the end of PPT	70 years (NBD)
Age at Maturity	100 years (NBD)
Policy Term	(100 – age at entry) years
Minimum Basic Sum assured	INR 2,00,000/-(The Basic Sum Assured should be in multiples of INR25,000/-)
Maximum Basic Sum assured	No limit
Date of commencement of Risk	In case the age at entry of the life assured is less than 8 years, the risk under this plan will commence either one day before the completion of 2 years from date of commencement of policy or one day before the policy anniversary coinciding with or immediately following the completion of 8 years age whichever is earlier. For those aged 8 years or more, risk will commence from the date of issuance of the policy.

Benefits under LIC Jeevan Umang

Death Benefit

On death before the commencement of Risk: An amount equal to the total amount of premiums paid (without interest) excluding taxes, extra premium and rider premium, if any.
On death after the commencement of Risk: Death benefit equal to “Sum Assured on death” + VSRB + FAB, if any. Sum Assured on death is higher of (a) 7 times of annualized premium or (b) Basic Sum Assured. In any case death benefit shall not be less than 105% of all the premiums paid up to date of death.

Survival Benefit:

if Life assured person survives till end of PPT, survival benefit equal to 8% of BSA shall be payable each year.

Maturity Benefit:

If Life assured person survives till end of policy term, Sum Assured on Maturity +VSRB+FAB, if any, shall be payable. Sum Assured on Maturity is equal to Basic Sum Assured.