LIC Jeevan Umang Plan No. 945

Jeevan Umang Plan is a limited premium, non-linked, with profits Whole Life Insurance Plan. Jeevan Umang plan provides annual Survival Benefits from the end of Premium Paying Term (PPT) till Maturity (Age of 100 years) or earlier death.

LIC Jeevan Umang Plan No. 945 Features & Conditions:

Jeevan Umang Plan No. 945 Features & Conditions:

Minimum age at entry: 90 days Completed

Premium Paying Term (PPT) & Maximum age at entry –

Premium Paying Term (PPT) – 15 Yrs 20 Yrs 25 Yrs 30Yrs

Age (Nearer Birthday) – 55 Yrs 50 Yrs 45 Yrs 40Yrs

Age at Maturity: 100 years (Nearer Birthday)

Policy Term: 100 minus Age at Entry

Minimum Age at end of PPT: 30 years (Nearer Birthday)

Maximum Age at end of PPT: 70 years (Nearer Birthday)

Minimum Sum assured : 2,00,000/-

Maximum Sum Assured.: No limit

Available Riders:

1. LIC’s Accidental Death and Disability Benefit Rider (Upto Age 70) OR Accident Benefit Rider Upto Premium Paying Term (PPT).

2. Term Rider Upto 35 Yrs term OR Age 75 whichever is earlier.

3. Critical Illness Rider Upto 35 Yrs term OR Age 75 whichever is earlier.

4. Premium Waiver Benefit Rider (PWB Rider ) — Available Up to Age 25 of Children

Payment Mode of Premium:

Yearly mode, Half-Yearly mode , Quarterly & Monthly mode ( SSS & NACH)

Rebates:

Mode Rebate: Yearly: 2%, Half Yearly: 1 %

Grace Period:

15 Days grace period for monthly premium payment mode and 30 days grace period for other payment modes.

Claim Concessions:

Available under Base Plan only.

Paid-up Value of policy:

Available after payment of premium of Two full years.

Surrender:

Available after payment of premium of Two full years.

Policy Loan Benefits:

Available after payment of premium of Two full years.

Revivals:

Within 5 years of First Unpaid Premium (FUP)

Tax Benefits:

On Premium Payments : Deduction under Section 80C

Maturity Amount: Exempt u/s 10(10D)

Death claim : Exempt u/s 10(10D)

Survival Benefits: Exempt u/s 10(10D).

DATE OF COMMENCEMENT OF RISK:

For age at entry less than 8 years: One day before completion of 2 years from Date of Commencement (DOC) or one day before Policy Anniversary after completion of the age of 8 years, whichever is earlier.

For age at entry 8 years (Last Birthday) or more: Risk will commence immediately.

SUM ASSURED ON DEATH: Basic Sum assured

DEATH BENEFIT:

Before Risk Commencement: Refund of Premiums paid Excluding GST & Extra

After Risk Commencement: Sum Assured on Death + Vested Bonus + FAB if any.

Take Death Benefit in Installments for 5 or 10 or 15 years: This benefit can be exercised by the Life assured for full or part payment of death benefits.

SURVIVAL BENEFIT:

8% of Basic Sum assured – From the end of Premium Paying Term (PPT) till Maturity or earlier death.

MATURITY BENEFIT:

Basic Sum assured + Vested Bonus (During & After PPT) + FAB if any.

Non -Medical Schemes: All Allowed.

Age Proofs: All Allowed.

Female Lives: All Allowed.

With Term, CI or PWB Rider: Underwriting Rules of Term, CI or PWB Rider will be applicable.