LIC Jeevan Umang Plan is a traditional, non-linked, with-profit, whole life assurance plan offered by Life Insurance Corporation of India (LIC). This plan provides life insurance coverage for the entire life of the policyholder and also offers a regular income after the premium payment term is over.
Key features of LIC Jeevan Umang Plan:
Whole life coverage: The policy provides life insurance coverage for the entire life of the policyholder.
Regular income: The policy provides a regular income in the form of survival benefits after the premium payment term is over. The payouts are made annually and continue until the death of the policyholder.
Guaranteed additions: The policy offers guaranteed additions during the premium payment term, which are added to the sum assured and paid out at the time of maturity or death of the policyholder.
Bonus: The policy is eligible for bonuses declared by LIC, which are added to the sum assured and paid out at the time of maturity or death of the policyholder.
Optional riders: The policyholder can enhance the coverage of the policy by opting for additional riders such as accidental death and disability benefit rider, critical illness rider, and term rider.
Loan facility: The policy offers the facility of taking a loan against the policy after it acquires a surrender value.
Tax benefits: The premiums paid towards the policy are eligible for tax benefits under Section 80C of the Income Tax Act, and the maturity/death benefits are tax-free under Section 10(10D) of the Income Tax Act.
Why Choose LIC Jeevan Umang?
- Tax-free Benefits: All payouts from LIC Jeevan Umang, including death and maturity benefits, as well as annual survival benefits, are completely tax-free under Section 10(10D) of the Income Tax Act, 1961.
- Life-long Coverage: The policy provides life coverage against the risk of the policyholder’s death from the date of issuance until they reach the age of 100.
- Guaranteed Annual Income: Policyholders can purchase this policy for themselves or their children and receive an annual income for their entire lifetime until the age of 100. This annual income is paid as survival benefits for every year that the policyholder survives until the end of the coverage term.
LIC’s commitment to providing comprehensive life insurance plans is evident in Jeevan Umang. This versatile policy not only offers a lifelong safety net but also guarantees periodic payouts, ensuring both protection and savings
The unique combination of whole life coverage and periodic money-back benefits offered by Jeevan Umang is highly appealing. This plan not only ensures financial protection for your loved ones but also serves as a source of income during your lifetime
LIC’s Jeevan Umang Plan is an outstanding whole life money-back policy that provides lifelong coverage and regular payouts. This policy offers not only financial security but also a source of income for the policyholder’s entire life. It’s a fantastic way to protect your family’s future
[…] LIC Jeevan Umang Plan | Whole Life Money Back Plan […]
This article provides a clear understanding of the benefits of LIC’s Jeevan Umang plan. With lifelong coverage, periodic money-back benefits, and the potential for bonus additions, it’s a reliable choice for long-term financial planning
The feature of guaranteed additions in Jeevan Umang adds another layer of financial security and makes it even more attractive. LIC’s track record of consistently providing bonuses adds to the credibility of this plan
Whole life money-back insurance is a crucial component of a robust financial plan. Jeevan Umang’s unique features, such as lifelong coverage, periodic
Long-term financial planning is essential, and LIC’s Jeevan Umang plan is a solid choice. With life coverage and regular money-back benefits, it’s a comprehensive policy that secures your family’s financial future
Jeevan Umang is a well-rounded whole life money-back plan, ensuring not only lifelong coverage but also regular payouts. This policy provides not just security but also a dependable source of income
For individuals seeking whole life money-back insurance, this blog offers valuable insights into LIC’s Jeevan Umang plan. The combination of lifelong coverage and periodic financial support is certainly worth considering
Whole life money-back plans like Jeevan Umang are an excellent way to provide for your family’s financial security and create a lifelong source of income. The flexible premium payment options make it even more convenient
I recently came across your blog post about LIC Jeevan Umang Policy, and I must say it’s a valuable resource for anyone looking to understand this policy in depth. The way you’ve broken down the features, benefits, and eligibility criteria makes it easy for readers like me to grasp.
I particularly appreciate the real-life examples you’ve provided, which give a practical perspective on how this policy can be advantageous. Your post has certainly clarified a lot of my doubts about LIC Jeevan Umang, and I’m now considering it as a viable insurance option for my future financial planning.
Thank you for sharing your insights and expertise. Your blog has been a great help, and I’ll be following it for more informative posts