LIC's Jeevan Umang Plan (845) is a non-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 sumpayment at the time of maturity or on death of the policyholder during the policy term.
Premium Payment Mode:
Yearly, Halfly, Quarterly, Monthly(ECS)
[100 - age entry] Year
Minimum Entry Age :
Maximum Entry Age :
55 years (Nearest Birthday) for PPT = 15
50 years (Nearest Birthday) for PPT = 20
45 years (Nearest Birthday) for PPT = 25
40 years (Nearest Birthday) for PPT = 30
Minimum age at the end of the PPT : years(Nearest Birthday)
Maximum age at the end of the PPT : years(Nearest Birthday)
Age at Maturity : years(Nearest Birthday)
Minimum Sum Assured :
Maximum Sum Assured :
NO LIMIT (Depending upon Income)
Maximum Accidental Death and Disability Benefit Rider up to age 70.
Maximum Accidental Benefit Rider shall be available during the ppt only.
Policy Benefits :
On Death :
On death before the commencement of Risk:
An amount equal to the total amount of premium/s paid without intrest shall be payable
On death after commencement of Risk: 'Sum Assured on Death'+vested simple reversionary Bonus + FAB if any.
Where 'Sum Assured on Death' is defined as the highest of
10 times of Annualized Premium, OR
105%of all Premiums paid as on death
On Survival :
On survival 8% of Basic Sum Assured shall be payable each year
Surrendered Value :
The Policy can be surrendered at any time during the policy term provided atleast three full years premiums have been paid.
Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.
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).