Key Features of LIC Jeevan Umang Plan
8% of Sum Assured as survival benefit every year after premium payment term.
Income until 100 years or until death, which ever earlier.
Lumpsum given to nominee at death of policyholder.
Serves as both traditional and pension plan.
Premiums paid towards this policy are exempted from income tax under 80C
Eligibility Conditions and Other Restrictions :
a) Minimum Basic Sum Assured :Rs. 2,00,000
b) Maximum BasicSum Assured :No Limit
(The Basic Sum Assured shall be in multiples of Rs. 25,000/-)
c) Premium Paying Term : 15, 20, 25 and 30 years
d) Policy Term: (100 - age at entry)
e) Minimum Age at entry : 90 days (completed)
f) Maximum Age at entry: 55 years (nearest birthday)
g) Maximum Maturity Age : 100 years (nearest birthday)