LIC Jeevan Umang pension plan is the best plan so far which gives non taxable pension for life time. This plan offers a combination of income and protection to your family. Jeevan Umang 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.
- Life time 8% of Sum Assured every year after maturity survival benefits
- Suitable plan for from 18 years to 55 years
- Whole Life Plan which gives Pension as well as any time lumpsum payment
- With best riders like Accidental benefit Rider, Term Rider and Critical Illness riders.
- All premium paid to LIC Jeevan Umang are exempted from income tax under 80C
- All returns from this plan like yearly pension, withdrawal before maturity, any claim or Maturity tax free under 10 (10D)
- Age at Entry 90 Days (Completed)
- Premium Paying Term (PPT) 15, 20, 25, & 30 Years
- Maximum Age at Entry in Years) (As per Nearest Birthday)
- 55 for 15 PPT
- 50 for 20 PPT
- 45 for 25 PPT
- 40 for 30 PPT
- Age at Maturity 100 Years (Nearest Birthday)
- Policy Term 100 – Age at Entry
- Basic Sum Assured 2,00,000 and above in multiples of 25,000
- Premium Paying Mode Yearly, Half Yearly, Quarterly & Monthly (SSS and NACH Only)
- Premium Payment Mode rebate 2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly
Survival & Maturity Benefits :
- On successful completion of premium paying term(PPT), 8% of Basic Sum Assured per year will be paid as survival benefits up to a year prior to Maturity, and
on completion of policy term, Basic Sum Assured + Simple Reversionary Bonus +FAB will paid as maturity claim.
- 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.
Commencement of Risk
- In case, the policy holder is less than 8 year old, then, life cover will start 2 year after policy purchase or completion of 8 year of age, whichever is earlier.