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Jan 2, 2020 · LIC's Jeevan Umang (Plan No. 945, UIN No. 512N312V02) Sales Brochure (Content is in English) Policy Document (Content is in English) Date of Launch : 01.02.2020
May 13, 2017 · Maximum age at the end of PPT : 70 years. Age at Policy maturity : 100 years. Policy Term (Tenure) : 100 – age at entry. (For example : If a 30 year old individual buys LIC Jeevan Umang policy then the policy term would 100 years minus 30 years = 70 years.) PPT (Premium Paying Term options) : 15, 20, 25 & 30 years.
LIC Jeevan Umang claims to be ‘the 100-year plan’ that offers both life protection and guaranteed income. It offers a survival benefit which is equal to 8% of the Basic Sum Assured from the completion of your Premium Payment Term till your age of 99 years.
Policy Revival: If the premiums of the policy are not paid on time, even after the completion of the grace period, the policy will get lapsed. However, it can be revived within 2 consecutive years from the date of first unpaid premium but before the date of Maturity.
Key Features. Plan for a term of 100 years. 8% of Sum Assured is paid at the end of the policy term as money back. Simple Reversionary Bonus is payable on maturity or earlier death. Large Sum Assured is available in this plan. LIC Accidental Death Disability Benefit Rider, PWB Rider, Critical illness and Term Rider is available.
LIC Jeevan Umang is a life assurance plan in which the policy holder will be covered till he/she turns 100 years of age. The key benefit of this plan is that it comes with dual benefits of income and insurance protection to help the family of the insured in his/her absence.
Free Look Period: If the policyholder is dissatisfied with the terms and conditions of the LIC Jeevan Umang plan, he/she can cancel the policy and return it to the corporation within 15 days from the date of receipt of the policy. Rebate: The plan offers rebates on various basic sum assured amounts. They are as follows:
