LIC Jeevan Umang Insurance Policy: GUARANTEED benefits! NO LIMIT on maximum basic sum assured - All details here
LIC Jeevan Umang Insurance Policy offers a combination of income and protection to your family.
LIC Jeevan Umang Insurance Policy offers a combination of income and protection to your family. This plan provides for annual survival benefits from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on death of the policyholder during the policy term. In addition, this plan also takes care of liquidity needs through loan facility.
Under LIC Jeevan Umang Insurance Policy, you get GUARANTEED survival benefit equal to 8% of basic sum assured each year after the final premium, till age 99 and lump sum maturity benefit on survial to age 100.
Age eligibility: 90 days to 55 years
Minimum basic sum assured: Rs 2 lakhs
Maxium basic sum assured: NO LIMIT
Premium paying term: 15, 20, 25 and 30 years
Policy term: 100 minus age at entry years
Life long risk cover till age 100
Bonus throughout the term
Final additional bonus (if any)
LIC Jeevan Umang
Plan numbers 945
LIC Jeevan Umang is a non-linked, participatng, individual, life assurance saving (whole life) plan
LIC Jeevan Umang: How to buy?
Contact your agent/branch or visit our website www.licindia.in or
SMS 'YOUR CITY NAME' to 56767474
LIC Jeevan Umang Policy: Benefits payable under an inforce policy:
On death of the Life Assured during the policy term, provided all due premiums have been paid then
On death before the commencement of Risk:Return of premium/s paid without interest shall be payable.
On Death after the commencement of Risk :Death Benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses (as mentioned in 2 below) and Final Additional bonus, if any, shall be payable. Where “Sum Assured on Death” is defined as the highest of 10 times of annualised premium; or Sum Assured on Maturity; or Absolute amount assured to be paid on death, i.e. Basic Sum Assured. This death benefit shall not be less than 105% of all the premiums paid as on date of death. Premiums referred above shall not include any taxes, extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any.
Survival Benefit :
On the life assured surviving to the end of the premium paying term, provided all due premiums have been paid, a survival benefit equal to 8% of Basic Sum Assured shall be payable each year. The first survival benefit payment is payable at the end of premium paying term and thereafter on completion of each subsequent year till the Life assured survives or till the policy anniversary prior to the date of maturity, whichever is earlier.
On the life assured surviving to the end of the policy term, provided all due premiums have been paid, “Sum Assured on Maturity” along with vested Simple Reversionary Bonuses (as mentioned in 2 below) and Final Additional bonus, if any, shall be payable. Where “Sum Assured on Maturity” is equal to Basic Sum Assured.
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