LIC Jeevan Umang Plan 945

LIC Jeevan Umang Plan 945 Overview

LIC Jeevan Umang Plan 945 is a non-linked, participating, individual, life insurance whole life plan. It provides income and protection to your family. It offers annual survival benefits from the end of the premium paying term till age 99.

Eligibility & Rules

• Minimum Sum Assured: ₹2,00,000
• Maximum Sum Assured: No Limit
• Policy Term: 100 minus Entry Age
• Premium Paying Term (PPT): 15, 20, 25, or 30 Years
• Entry Age: 90 Days to 55 Years

Key Plan Benefits

• Survival Benefit: 8% of Basic Sum Assured paid every year after PPT till age 99.
• Maturity/Death Benefit: Sum Assured + Vested Reversionary Bonuses + FAB paid on maturity (age 100) or death.

Standard Policy Features

• Grace Period: 30 days for Yearly, Half-Yearly, and Quarterly premium payment modes, and 15 days for Monthly mode.
• Free Look Period: 30 days from the date of receipt of the policy document to review the terms and conditions.
• Loan & Surrender Facility: The policy acquires a Surrender Value and Loan facility after the payment of 2 full years' premiums.
• Tax Benefits: Premiums paid are eligible for tax deduction under Section 80C, and maturity/death benefits are tax-free under Section 10(10D), subject to prevailing tax laws.

Example Calculation

Note: The values shown above are indicative examples. Actual premiums and maturity amounts may vary based on exact age, riders, and declared bonus rates.