Jeevan Umang is a non-linked, with-profit, whole life insurance plan offered by the Life Insurance Corporation of India (LIC). It is a traditional life insurance policy that provides a combination of protection and savings benefits.
Under Jeevan Umang, the policyholder pays premiums for a specified period, and the policy provides life insurance coverage for the entire lifetime of the policyholder. Additionally, the policy also provides regular payouts in the form of annual dividends, which are payable throughout the policyholder’s lifetime.
Life Time Financial protection against Death
In the terrible event of passing within the period, the sum assured with bonuses will be payable till 100 years of age.
Profit Sharing till Maturity
LIC releases its annual valuation results.
All policyholders will receive a bonus according to the valuation results announced by LIC.
Additional Accident Benefit
By paying small extra premium amount, you can secure your life for high insurance protection on natural or accidental death by opting DAB and Term Rider.
Yearly Returns in the form of Survival Benefit
At the conclusion of the premium-paying term, it provides an 8% Survival Benefit to cover ongoing expenses.
Plan Conditions
| Minimum Age At Entry | 90 Days (Completed) |
| Maximum Age At Entry | 55 Years (NBD) For PPT -15 Years 50 Years (NBD) For PPT – 20 Years 45 Years (NBD) For PPT – 25 Years 40 Years (NBD) For PPT – 30 Years |
| PPT | 15, 20, 25 and 30 years |
| Minimum Age at the end of the PPT | 30 years (NBD) |
| Maximum Age at the end of the PPT | 70 years (NBD) |
| Age at Maturity | 100 years (NBD) |
| Policy Term | [100 -Age At Entry] years |
| Minimum Basic Sum Assured | ₹ 2,00,000/- |
| Maximum Basic Sum Assured | No Limit |
| Mode of Payment | Yearly, Half Yearly, Quarterly, Monthly (NACH only), SSS |
Basic Sum Assured shall be in multiples of ₹ 25,000/- only
Accidental Death and Disability Benefit Rider
| Minimum Entry Age | 18 years (Completed) |
| Maximum Entry Age | The cover can be opted for at inception or at any policy anniversary thereafter, provided the outstanding premium paying term under the base plan is at least 5 years. |
| Maximum Cover Ceasing Age | 70 years (NBD) |
| Minimum Sum Assured | ₹ 10,000/- |
| Maximum Sum Assured | ₹ 100 Lakh (Not exceed to the basic sum assured) |
Sum Assured shall be available in multiples of ₹ 10,000/-
