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Plan No. 945Whole Life
LIC's Jeevan Umang
"100 years of coverage with 8% guaranteed return."
LIC's Jeevan Umang provides for annual survival benefits from the end of the premium paying term till maturity (age 100) and a lump sum payment at maturity or on death.
Key Features
- ✓Guaranteed Income: 8% of Basic Sum Assured paid annually after premium term.
- ✓Whole Life Cover: Insurance coverage continues until the age of 100 years.
Eligibility Criteria
Minimum Age90 Days
Maximum Age55 Years
Minimum Term15, 20, 25, or 30 Years (PPT)
Maximum TermUp to Age 100
Min Sum Assured₹ 2,00,000
Max Sum AssuredNo Limit
Plan Benefits
Death Benefit
Sum Assured on Death + Vested Bonuses.
Survival Benefit
8% of Basic Sum Assured every year after PPT.
Maturity Benefit
Sum Assured + Vested Bonuses (at age 100).
Real-World Example
Profile30-Year-Old Female
Sum Assured₹ 10,00,000
Term DetailsWhole Life (Premium Paying Term: 15 Years)
Annual Premium₹ 80,500 / Year
Expected Returns₹ 80,000 / Year (Guaranteed) + Huge Maturity at Age 100
How it Works
Priya pays ₹ 80,500 annually for exactly 15 years. From the 16th year (when she is 46) onwards, LIC pays her a guaranteed income of ₹ 80,000 every single year until she turns 99. If she lives to 100, she receives a massive maturity amount (around ₹ 90 Lakhs). If she passes away at age 80, her family receives the death benefit (Sum Assured + Bonuses up to that year).