LIC Jeevan Umang is a whole-life insurance plan that provides income + protection + lump-sum maturity benefit.

💫 LIC Jeevan Umang Plan

LIC Jeevan Umang is a whole-life insurance plan that provides income + protection + lump-sum maturity benefit.
It offers annual survival benefits after the premium payment term and a lump sum at maturity or on death during the policy term.

In short, it’s a lifetime income plan with life cover — a mix of insurance and long-term savings.

🧩 Key Features

💰 How Jeevan Umang Works (Example)

Let’s assume:

• Age: 30 years
• Sum Assured: ₹10,00,000
• Premium Paying Term: 20 years
• Policy Term: Up to 100 years

🔹 During Premium Paying Term (20 years)

You pay premiums regularly for 20 years.

🔹 After Premium Paying Term

From the end of 20th year, LIC starts paying you:

• 8% of Basic Sum Assured every year as Survival Benefit

👉 8% of ₹10,00,000 = ₹80,000 every year
You receive this ₹80,000 every year till age 100, or till death (whichever is earlier).

🔹 At Age 100 (Maturity)

You get:
✅ Sum Assured (₹10,00,000)
+
✅ Simple Reversionary Bonus (declared every year by LIC)
+
✅ Final Additional Bonus (if any)

That’s your Maturity Benefit.

🔹 If Death Occurs Before 100 years

Your nominee gets:

• Sum Assured on Death + Bonuses
  (even if you had started receiving yearly income)

🛡️ Benefits Summary

🎯 Why Choose LIC Jeevan Umang

✅ Regular yearly income after premium payment term
✅ Lifetime protection till age 100
✅ Lump sum maturity with bonuses
✅ Family security even after death
✅ Participating plan (eligible for LIC’s bonuses)
✅ Option to take survival benefit as yearly payout or accumulate it

🧠 Example Summary in Simple Words

You pay for 20 years, then every year LIC pays you 8% of your Sum Assured as income.
If you live till 100, you get a big lump sum (Sum Assured + Bonuses).
If you pass away anytime, your family gets full death benefits — you never lose.

🔔 In Short