Why Investing in LIC's Jeevan Umang is beneficial?

by Jayant Harde Our associates have a rich corporate experience of

The Jeevan Umang Program of LIC provides your family with a mix of income and insurance. This arrangement allows for annual payments from the end of the premium period up to maturity as well as a lump sum at the time the policyholder matures or dies.

Features of the LIC Jeevan Umang

  • It is a combination of both regular income and Lumpsum payment.
  • Offers an option to choose a premium paying term of 15 years, 20 years, 25 years or 30 years.
  • It is a non-linked life insurance plan with profits.
  • Offers life cover till the policyholder turns 100 years.
  • Offers a loan facility up to 90% of the surrender value if the policy holder has paid the premiums for 3 years regularly and if the plan has reached a Surrender Value.
  • The LIC Jeevan Umang Plan offers a simple reversionary bonus as well as final addition bonus if any.

Benefits of LIC Jeevan Umang Plan

Death benefit

LIC will refund all premiums charged without interest to the applicant in the case of death of the life insured before the starting date of the risk. If, however, a policyholder dies after the risk starting date, LIC must pay the sum the candidate will be assured of. It also provides a basic reversion bonus and, if any, a final bonus.

Maturity benefit

Once the policy matures, the insurance provider shall pay all premiums annually in addition to the basic reversion bonus and, the last extra bonus, if any.

Survival benefits

If the insured survives the insurance payout cycle, 8% of the fixed amount will be paid as a fixed survival bonus per year. The payment will be paid before the contract matures or the insured dies, whichever is earlier.


Two kinds of discounts are available at LIC Jeevan Umang. The first discount is the premium refund mode and the second is a broad basic sum assured refund. 2% on a yearly basis and 1% on the half-yearly discount are charged for the primary payment form. 2 per cent discount on the minimum amount promised for Rs 25 lakh and higher is charged for the high basic sum assured. 1,75% off the basic amount promised shall be paid on Rs.10 lakh at Rs.24,75 lakh. 1.25% of discount is charged to Rs.5 lakh to Rs.9.75 lakh on the basic amount promised.


When you complete three years of the program and monthly bonus payments, LIC Jeevan Umang provides a loan facility of up to 90 per cent of the surrender value. A surrender interest would also have been obtained for a credit facility.

To know more about Health Insurance, you can visit our website or contact our representative at +91 712 2282029 or meet us at 51, Gurukripa, Old Sneha Nagar, Wardha Road, Nagpur – 440015.


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About Jayant Harde Innovator   Our associates have a rich corporate experience of

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Joined APSense since, June 21st, 2019, From Nagpur, India.

Created on May 11th 2020 08:49. Viewed 150 times.


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