Jeevan Umang – Explanation in simple words
A unique 100 year plan for pension and wealth building.
The policy gives out life long pension even after saving for just 15 years.
- Premium Payment for shorter period. Risk cover and pension for 100 years
- Wealth building plan from LIC. Save just 4,000 per month and get 1.25 crore
- Tax rebate on premium paid u/s 80C and Tax free maturity u/s 10 (10D)
- Jeevan Umang (Table 845) is a limited premium non-linked with profits endowment plan
- A great mix of of protection, pension and savings
- Provides financial support for the retired years.
- Tax rebate / Exemption in income tax
Death benefit: On death of the life assured before the stipulated date of maturity provided the policy is in force. Sum assured on death + Simple Reversionary Bonus + Financial Additional Bonus, if any (Sum Assured on death = Higher of 10 times of annualized premium of basic sum assured)
Maturity Bonus: Sum assured + Vested Bonus + Final additional bonus if any at the end of the policy term
- LIC’s accidental death and disability benefit rider
- LIC’s new Term Assurance Rider
PS: all LIC life insurance policy now come with special benefits like loan, surrender, assignment and revival
Question: If I pay a premium for 15 years for how long can I get pension? Are there any other benefits?
Answer: You’ll be getting the pension till you are 100 years of old. A huge sum is also paid when the policy is stopped / matured or on death of the policy holder.
Question: What is the minimum and maximum term of the policy?
Answer: The policy can be taken for 15 – 35 years.
Question: Should I buy Jeevan Umang?
Answer: If you are looking for a policy that plans your pension and also create a huge wealth for the family.The policy can be stopped anytime after the premium paying term.
InsuringGurgaon.com is a leading LIC of India advisory firm based in Gurgaon. Our team of life insurance experts have an combined experience of over 40 years in life insurance services. Do get in touch with our insurance advisers to understand how Jeevan Umang can help you achieve your financial goals in a systematic manner.