Why Choose LIC Jeevan Umang?
Tax-free Maturity & Death Benefit
All proceeds from LIC Jeevan Umang, be it on the death of the policyholder, at maturity of the policy, or the annual survival benefits, are entirely tax free under Section 10(10D) of the Income Tax Act, 1969.
Life-long Risk Cover till the Age of 100
The life cover against the risk of death of the policyholder starts from the date of issuance and lasts till he/she reaches 100 years of age.
Guaranteed Income from the Age of 30
Policyholders can buy this policy for themselves or their children and secure a lifetime annual income until 100. These are paid survival benefits for surviving every year till coverage ends.
Features of LIC Jeevan Umang Plan
This LIC plan provides annual survival benefits starting at the end of the premium payment tenure and continues till maturity.
The plan also provides a lump sum amount as a maturity benefit at the end of the policy term, if the insured survives.
The death benefit can be claimed if the policyholder dies during the policy tenure. It is paid either as a lump sum or in regular installments.
The plan offers an option to choose from different premium paying terms i.e. 15 years, 20 years, 25 years, and 30 years.
LIC Jeevan Umang policy is a participating policy that entitles buyers to additional bonuses depending on the profits earned by LIC in a year.
There are discounts available for choosing the either half-yearly or yearly premium payment mode.
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