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.
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. |
if Life assured person survives till end of PPT, survival benefit equal to 8% of BSA shall be payable each year.
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.
Mode of Instalment payment | Minimum instalment amount |
Monthly | Rs. 5,000/- |
Quarterly | Rs. 15,000/- |
Half-Yearly | Rs. 25,000/- |
Yearly | Rs. 50,000/- |