Jeevan Umang 945 – LIC Jeevan Umang 945 Policy Details
Jeevan Umang policy 945 is a non-linked, with-profits whole life assurance plan. This plan provides for annual survival benefits from the end of the premium paying term till maturity and lump sum payment at the time of maturity or on Risk of the policyholder during the plan term.
Premium Payments Mode
Monthly (ECS), Quarterly, Half Yearly and Yearly
Term / Duration
Minimum Entry Age
90 Days Completed
Maximum Entry Age
55 Years (Nearest Birthday) for PPT 15
50 Years (Nearest Birthday) for PPT 20
45 Years (Nearest Birthday) for PPT 25
40 Years (Nearest Birthday) for PPT 30
Minimum Age at the end of the PPT
30 Years (Nearest Birthday)
Maximum Maturity Age
Minimum Sum Assured
Maximum Sum Assured
No Limit (Depending upon Income)
Loan Facility is Available under this plan. After 2 Years
Income Tax Benefit
Tax Rebate under Section 80C
Maturity Under this plan is Free under Section 10(10D)
The plan / Policy can be surrendered at any time during the policy term provided at least two full years premiums have been paid.
On survival 8% of basic sum assured shall be payable each year
On risk before the commencement
An amount equal to the total amount of premiums paid without interest shall be payable.
On risk after commencement of risk
Sum Assured on risk + Vested simple recessionary bonus + FAB if any.
Where sum assured on risk is defined as the highest of basic sum assured
7 Times of annualized premium
105% of all the premiums paid as on date of risk.
The premium mentioned above excludes taxes, extra premium and rider premiums if any in addition to the above , loyalty addition if any shall also be payable if risk occurs after completion of 5th policy year.