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You also get a lump sum payout at the end of the policy term. It is a reliable and safe investment option that can help secure your future. 
 

LIC Jeevan Umang Policy is a great investment plan that can help ensure your life security and financial stability. Through this, you pay regular premiums and get annuity for life, which provides you regular income even after your life. Along with this, you also get a lump sum payment at the end of the policy term. It is a reliable and safe investment option that can help secure your future. LIC Jeevan Umang is a non-linked, participating, private life insurance plan that provides life cover to the policyholder up to the age of 100 years. This plan provides income and security to the policyholder and his family.

Lifetime and limited period pension

By investing in Jeevan Umang policy, you can get the benefit of regular annual pension for life. If you invest Rs 10,000 every month for the entire 15 years, then you get the benefit of this pension after the premium payment period. You can get a lifetime pension of about Rs 60,000 to Rs 70,000 per month after maturity. You get this pension for the whole life, which keeps you financially secure. You can get a fixed monthly pension throughout your life. You can get monthly pension for a fixed period, such as 10, 15 or 20 years.

Pensions and lump sum payments

If you invest Rs 10,000 per month and pay premiums for 15 years, you can get a limited period pension of around Rs 1 lakh per month for 10 years or around Rs 60,000 per month for 15 years after maturity . Also, if you invest Rs 10,000 per month and pay premiums for 15 years, you can get a lifetime pension of around Rs 40,000 to Rs 50,000 per month after maturity, as well as a lump sum payment of around Rs 20 lakh to Rs 25 lakh on maturity.

Some salient points of the plan

The minimum entry age is 18 years and maximum entry age is 55 years. Minimum sum assured is Rs 1 lakh and there is no limit on maximum sum assured. Optional riders such as New Term Insurance Rider and New Critical Illness Benefit Rider are available. Premiums paid under the policy are exempt from tax under Section 80C and 10(10D) of the Income Tax Act 1969. Sum Assured on Death is paid if the policyholder dies within the first five years of purchasing the plan. The plan offers loan facility up to 90% of the surrender value on completion of 3 years of the policy term and if premiums have been paid regularly.

Who should buy it

Those who want lifetime security for their family. Want to get tax benefits. Want to grow their money. Those who want to avail loan facility. For more information about the scheme, you can visit LIC website or contact the nearest LIC branch.

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