JEEVAN UMANG PLAN (Plan no.845)

 

In this world of uncertainty, LIC offers a unique blend of whole life Insurance with Guaranteed Tax free returns for life time. After the premiums are paid for the stipulated period, Tax free returns @ 8% of the Sum Assured is paid every year for whole life. On Maturity, Sum Assured + bonus is paid.

A Regular Premium paying, Non-linked, Conventional with-profits Endowment Assurance plan

Eligibility Conditions & Restrictions
Minimum age : 90 days (Completed)
Maximum age : 55 years for Premium paying term 15 years
50 years for Premium paying term 20 years
45 years for Premium paying term 25 years
40 years for Premium paying term 30 years
Minimum age at PPT : 30 years
Maximum age at PPT : 70 years
Premium paying term : 15, 20, 25 and 30 years
Policy Term/ Maturity : 100 (-) minus Age at entry
Minimum Sum Assured : Rs.2,00,000
Maximum Sum Assured : No limit
Premium Payment : Yearly / Half yearly / Quarterly / Monthly (Thru Bank)
Loan : Eligible after 3years
Surrender : Eligible after 3years
After Premium paying term : 8% of Sum Assured (Tax-free) is paid every year for whole life
On Maturity/Death : Sum Assured + Bonus is payable
Income Tax Benefits : (i) Premiums paid are eligible for Tax rebate u/s 80c
(ii) Maturity amount / Death claim is Non-taxable u/s 10(10d)