Jeevan Umang Plan

LIC Jeevan Umang is non-linked whole life with profits endowment assurance plan, which provides a guaranteed fixed Tax-free income @ 8% of Sum assured every year after completion of premium paying term till 100 years of age. On maturity or Death, a full Sum assured along with bonus is paid.

Key Features of LIC Jeevan Anand:

  • 8% of SA per year as survival benefits
  • Suitable plan for pension
  • Whole Life Plan
  • Availability of Accidental benefit Rider, Term Rider and Critical Illness riders.
  • Paid premiums are exempted from income tax under 80C
  • Maturity amount is tax free under 10 (10D)

Survival and Maturity Benefits :

Premium paids with interest on survival of policyholder till maturity then 8% sum assured is paid till 100 years of each.

Death Benefits :

If death happens before commencement of risk, all premiums paid excluding taxes will be paid to nominee as death claim.
If death happens after commencement of risk, then Basic Sum Assured + Bonus + FAB will be paid to nominee as death claim.

Eligibility Conditions & Restrictions
Minimum age 90 days (Completed)
Maximum age 55 years for Premium paying term 15 years
50 years for Premium paying term 20 years
45 years for Premium paying term 25 years
40 years for Premium paying term 30 years
Minimum age at PPT 30 years
Maximum age at PPT 70 years
Premium paying term 15, 20, 25 and 30 years
Policy Term/ Maturity 100 (-) minus Age at entry
Minimum Sum Assured Rs.2,00,000
Maximum Sum Assured No limit
Premium Payment Yearly / Half yearly / Quarterly / Monthly (Thru Bank)
Loan Eligible after 3years
Surrender Eligible after 3years
After Premium paying term 8% of Sum Assured (Tax-free) is paid every year for whole life
On Maturity/Death Sum Assured + Bonus is payable
Income Tax Benefits (i) Premiums paid are eligible for Tax rebate u/s 80c
(ii) Maturity amount / Death claim is Non-taxable u/s 10(10d)