Jeevan Umang Plan of LIC

Jeevan Umang is a limited premium plan of LIC (Life Insurance Corporation) of India. Jeevan Umang plan was launched on 1st February 2020. Jeevan Umang plan is the combination of life insurance, saving, yearly money back, and portable maturity.

What is Jeevan Umang Plan?

Jeevan Umang is a 100 years policy term life insurance plan. Suppose a person of 25 year age buy Jeevan Umang plan then that person will get life insurance for 75 years policy term. If that person choose 15 year premium payment term then he has to pay the premium for 15 years. After the end of premium payment term (at the age of 40 years), that person will receive yearly money back for 60 years (up to the age of 100 years). At the end of policy term (at the age of 100 Years), that person will receive full maturity.

Example of Jeevan Umang Plan

Suppose a person of 25 year age buy Jeevan Umang plan (945) with 5 Lakh sum assured. For this, he has to pay the monthly premium of ₹3514 (approx.) for next 15 years. From the age of 40 years, he will receive yearly money back of ₹40,000 for next 60 years (up to the age of 100 years). At the age of 100 Years, he will receive 46 Lakh 75 thousand rupees (approx.). At the age of 33 years, the insurance value of Jeevan Umang Plan is 7 Lakh 88 thousands. Note: From the age of 40 to 100, he can close this policy any time. He will receive the full benefits up to that age and policy will closed after this.

Poster of Jeevan Umang Plan

Flowchart of Jeevan Umang Plan

Official Link for Jeevan Umang Plan:

1. Official Link.

Author

Paramjeet Singh Jamwal is working as a LIC Agent since 2015.