945 - Jeevan Umang

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945 Jeevan Umang

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LIC New Jeevan Umang Plan is one of the best money back policy by LIC India.

LIC’s Jeevan Umang plan offers a combination of income and protection to your family. This plan provides for annual survival benefits from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on death of the policyholder during the policy term..

New Jeevan Umang Plan (945) is a non-linked, with-profits whole life assurance plan. Survival benefits from End of PPT will be payable.

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Four major elements that we offer:

  • Moderate Premium
  • Life Cover to the extent of Sum Assured
  • A conventional with profits assurance plan
  • Attractive Combination of protection and Savings

Benefits


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Payable On Maturity

Basic Sum Assured (SA) +

Vested Simple Revesionary bonuses +

Final Additional bonus if shall be payable.

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Payable In Case Of An Unfortunate Event :

On death before the commencement of Risk: An amount equal to the total amount of premium/s paid without interest shall be payable.

On death after commencement of Risk:'Sum Assured on Death'+ Vested simple reversionary Bonus + FAB if any.

Note: Sum Assured on Death will be higher of Basic SA or 10 times of Annual Premium.
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Payable On Survival :

+ On survival 8% of basic sum assured shall be payable each year till Maturity/Death

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GRACE PERIOD TO PAY PREMIUM:

31 or 30 days (depends on calendar month) for YLY, HLY and QLY payment modes.

15 days grace period for Monthly Mode of Premium Payment.

Note: If premium is not paid before the expiry of the grace period, then the policy lapses.

ELIGIBILITY AND CONDITIONS

Premium Paying Term
(15,20,25,30) years
Minimum Age at entry
(90) days completed
Maximum Age at entry
(55,50,45,40) Years for PPT(15,20,25,30)
Term min and max years
100 - Age at entry
Sum Assured Mim and Max
2,00,000 - No limit
Maturity Age
100 years
Payment Modes
YLY, HLY, QLY and MLY(ECS)

LOAN

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After the Policy Acquires Paid Up Value.

SURRENDER

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The policy can be surrendered (closed) only after 3 full years payment of premiums.

RISK

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Risk Coverage Will Be Provided Till The End Of Term Policy.



Income Tax Benefits:

+ Premium paid under this plan is eligible for TAX rebate under section 80c.

+ Maturity under this plan is free under sec10(10 D)


Documents Required :

Documents Accepted
Aadhar Card / Ration Card / Election Card / Govt Id card Pan Card / Driving Licence / School or College Certificate
Compulsory Documents
2 Photos +(Address and Age) Proof + Income Tax Returns(Optional)