The LIC Jeevan Umang plan provides your family with both income and protection. This plan provides yearly survival benefits from the end of the premium-paying term until maturity. It also provides a lump sum payment at maturity or if the policyholder dies during the policy period. In addition, this approach uses a facility for loans to meet any liquidity requirements.
Features Of The LIC Jeevan Umang Plan
- If the insured survives the policy term, the plan additionally offers a lump sum amount as a maturity benefit.
- This LIC plan’s yearly survival benefits begin at the end of the premium payment period and continue until maturity.
Eligibility For The LIC Jeevan Umang Plan
- The LIC Jeevan Umang Plan has an entry age of 90 days and a maximum age of 55 years.
- Policy Term: 100 Years- Entry Age
- The minimum sum insured in this plan is Rs 2,00,000, with no maximum amount.
Calculator For The LIC Jeevan Umang Plan
For example, a 30-year-old purchases the policy and invests Rs 5,000 monthly. Assume he/she wants the following coverage and is able to contribute Rs 15,000 quarterly or Rs 50,000 annually:
- The sum assured is Rs. 10,00,000.
- Policy Term – (100 minus 30 years) = 70 years
- Premium Paying Term – 20 years
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