✅ LIC Jeevan Umang – Plan No. 945 (Lifetime Income + Insurance Plan)
Non-Linked, Participating, Whole Life Assurance Plan – Combines lifetime coverage with annual income and maturity benefit.
Key Features:
Whole Life Cover Till Age 100
Annual Survival Income: 8% of Basic Sum Assured every year after premium term
Maturity Benefit: Lump sum payout at age 100 or on earlier death
Bonus Eligible: Simple Reversionary Bonuses + Final Additional Bonus (if any)
Ideal for Retirement, Passive Income, or Future Legacy Planning
Eligibility Conditions:
| Particulars | Details |
|---|---|
| Plan Name | LIC Jeevan Umang |
| Plan Number | 945 |
| Minimum Entry Age | 90 days |
| Maximum Entry Age | 55 years |
| Policy Term | Whole life (till age 100) |
| Premium Paying Term | 15, 20, 25, or 30 years |
| Minimum Sum Assured | ₹2,00,000 |
| Maximum Sum Assured | No Limit (multiples of ₹25,000) |
Benefits:
1. Survival Benefit:
After the end of premium paying term:
8% of Basic Sum Assured is paid every year till the policyholder turns 100.
2. Maturity Benefit (at age 100):
Sum Assured on Maturity
Bonuses
3. Death Benefit (before 100 years):
Sum Assured on Death + Accrued Bonuses + Final Additional Bonus (if any)
Optional Riders:
Accidental Death and Disability Benefit
Critical Illness Benefit
Premium Waiver Benefit
Term Rider
Best For:
Retirement planning
Creating lifelong passive income
Family legacy / inter-generational wealth