LIC JEEVAN UMANG is a whole life plan of LIC. This plan provides a guaranteed survival benefits of 8% per annum to the policyholder till the age of 100 years after completion of premium paying term ( 15 , 20 , 25 , & 30 yrs ) .Also this plan will provide lump sum payment on maturity after completion of policy term OR on death of insured.
∙ Whole Life pension benefit available after completion of policy term.
∙ Premium Paying Term are 15 ,20 25 & 30 years but benefits cover till age of 100 yrs of insured.
∙ Can be Purchased as a Gurranteed deferred annuity pension plan.
∙ Accidental benefits and Disability rider benefit available.
Before the commencement of risk if insured dies , nominee will get all premium paid by insured till death ,excluding all taxes , extra premium ,if any shall be payable.
: After the commencement of risk if insured dies , nominee will get SUM ASSURED on death and vested simple reversionary bonuses and final additional bonus , if any , shall be payable.
: After completion of policy premium paying term, insured get 8% of basic sum assured every year till the age of his/her 100 years.
Sum assured on maturity along with vested simple reversionary bonuses and final additional bonus , if any , shall be payable.
|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|