Jeevan Umang Policy 945

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

100 Years


15 Years

20 Years

25 Years

30 Years

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

70 Years

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.