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Buy LIC Jeevan Umang Plan Online


Pension plans Buy LIC Pension Plan Online are a crucial part of financial planning. They ensure a stable and secure source of income during one’s retirement years. LIC Jeevan Umang Plan is a popular option for individuals looking to secure their future. With its attractive features and benefits, this plan offers financial protection and a regular income stream for policyholders. This insurance policy offers a unique combination of protection and savings, ensuring financial stability for you and your loved ones.

Investing in LIC Jeevan Umang Plan LIC Jeevan Umang Plan Buy Online has become more convenient than ever with the option to buy it online. This allows individuals to easily browse through various plan options, calculate premiums, and choose the most suitable policy from the comfort of their homes. The online platform provides a hassle-free and transparent buying process, eliminating the need for paperwork and visits to the insurance office.

In addition to easy accessibility, buying LIC Jeevan Umang Plan Best LIC Plan for Retirementonline also offers the convenience of monitoring the policy and making premium payments online. It provides flexibility to policyholders, enabling them to manage their investments efficiently and ensure timely payments.

One of the major advantages of the LIC Jeevan Umang Plan is that it offers tax-free returns, helping you maximize your savings and reduce your tax liabilities. Additionally, this policy provides flexibility in choosing the premium payment term, ensuring it aligns with your financial goals.

So why wait? Explore the benefits of the LIC Jeevan Umang Plan and secure a financially independent future for you and your family. Buy this policy online today and enjoy the peace of mind that comes with a comprehensive pension plan.

  • Relaxed retirement is ensured with guaranteed income.
  • Receive regular income annually once the premium paying term is completed.
  • Secure tax-free income for life, amounting to 8% of the Sum Assured each year.
  • Choose from flexible premium payment options ranging from 15, 20, 25, to 30 years.
  • Policy available from birth until the age of 55, ensuring coverage throughout adulthood.
  • Enjoy triple tax benefits on premiums paid, pension, and maturity amount.
  • Additional protection against accidents through an included risk cover.
  • Gain easy access to liquidity through policy loans and the option to surrender the policy.

Key Features of LIC Jeevan Umang Policy

  • 8% of SA per year as survival benefit
  • Suitable plan for pension
  • Whole Life Plan
  • The option to add Accidental Benefit Rider, Term Rider, and Critical Illness riders is available.
  • Premiums paid qualify for income tax exemption under 80C.
  • The maturity amount is tax-free as per the provisions of section 10(10D).

LIC Jeevan Umang Policy Terms and Conditions

Minimum age 90 days (Completed)
Maximum age 55 years
Premium paying term 15, 20, 25 and 30 years
Policy Term/ Maturity At age 100 years
Minimum Sum Assured Rs.2,00,000
Maximum Sum Assured No limit
Premium Payment Yearly / Half yearly / Quarterly / Monthly (ECS)
Loan Eligible after 2 years
Surrender Eligible after 2 years
After Premium paying term 8% of Sum Assured (Tax-free) is paid every year for whole life
On Maturity/Death Sum Assured + Bonus+ Final additional bonus is payable
Income Tax Benefits (i) Premiums paid are eligible for Tax rebate u/s 80c
(ii) Maturity amount / Death claim is Non-taxable u/s 10(10d)

How does LIC Jeevan Umang Plan work for you

Buy LIC Jeevan Umang Plan Online Illustraion LIC Jeevan Umang Policy Benefits

Death Benefit

On Death Before the Commencement of Risk

If a demise occurs before the commencement of the term, the entire amount paid for premium (return of premium) is payable to the beneficiary on the policy. This would be non-inclusive of all taxes, additional premium and rider premium if elected.

On Death After the Commencement of Risk

If a death occurs after the commencement of risk, then the death benefit along with a vested simple reversionary bonus and a final additional bonus (if any) are paid is paid to the designated policy beneficiary. The Death Benefit will never be less than 105% of all premiums paid The death benefit is paid to the beneficiary as a lump sum amount or in instalments.

Survival Benefit

Upon policyholder’s survival, premium payment term and provided the policy is in force then the survival benefits that amount to 8% of the basic sum assured is paid annually at the end of the premium paying term and this benefit pay-out will continue till the end date of maturity or in case of death of the life insured, whichever is earlier.

Maturity Benefit:

If all premiums have been paid as required, the maturity benefit of the policy will include “The Final Sum Assured” along with any accumulated Simple Reversionary Bonuses and a Final Additional Bonus, if applicable. This benefit will be paid out if the life assured survives until the end of the policy term.

Surrender Value:

The policyholder can surrender the policy, provided that premium of the policy has been paid for two consecutive years. Once this happens, the insurance company will pay out a surrender value equal to both the higher special surrender value and guaranteed surrender value.


The policyholder becomes eligible for a loan once they have paid the full premium amount for a period of 2 years and the policy has acquired a surrender value.

If in case the loan is availed during the tenure of premium payment, then you can avail upto 80% of the surrender value for paid-up policies and 90% in the scenario of active policies.

Profit Participation

As a policyholder, you have the privilege of receiving the insurance company’s profits. These profits are shared in the form of dividends declared at the end of every financial year and full additional bonus.

Income Tax Benefit

Under Section 80C of the Income Tax Act of 1961, the LIC Jeevan Umang policy’s premiums are exempt from income tax. Under Section 10(10D), the maturity amount received is also free from tax.

Life Cover

This plan is an endowment cum whole life of the policyholder i.e. up to 100 years. It offers a regular payout from the end of the premium payment term till the date of your survival.

Additional Benefits of LIC New Jeevan Umang Plan


i. Accidental death and disability rider benefit
The accidental death and disability rider benefit provide additional coverage. In the event of the insured person’s accidental demise, the beneficiary of the policy receives a lump-sum amount equal to the accidental rider benefit sum assured, in addition to the death benefit provided by the base plan. Similarly, if the insured person becomes disabled due to an accident, the accidental rider benefit sum assured is paid out in equal monthly installments over a period of 10 years. Additionally, all premiums that have been paid or are due in the future are waived off.

ii. Accidental Benefit Rider
By opting for this rider, the policyholder becomes eligible for a lump-sum payout in the event of accidental death within 180 days from the accident date. To avail this life insurance policy rider, an extra premium must be paid. The policyholder has the flexibility to choose this rider at any time during the premium payment period, as long as the remaining premium payment term for the base plan is a minimum of 5 years.

iii. New Term Assurance Rider
The LIC New Term Assurance Rider can be obtained when the policy is initiated. With this rider, LIC provides the beneficiary with an extra sum assured amount in the form of term assurance if the policyholder passes away during the policy duration. This rider option is available for a policy tenure of 35 years or until the plan anniversary when the policyholder turns 75 years of age, whichever happens first.

iv. Critical Illness Rider
The Critical Illness Rider is an optional add-on that can be selected when the policy is first purchased. With this rider, LIC provides the beneficiary with an extra sum assured if the policyholder is diagnosed with any of the 15 critical illnesses covered during the policy term. This rider can be chosen for a maximum of 35 years or until the policyholder reaches the age of 75, whichever occurs first.


i. Final Addition Bonus:
Bonus is paid at the time of policy maturity or in the event of death.

ii. Simple Reversionary Bonus:
Portion payable if policy is surrendered during the policy period.

If policy is surrendered, a certain portion of the accrued bonus will be paid to you.

Documents required for LIC policy - Online vs Offline
Buying LIC Policy Online with LICNewPolicyOnline.com Buying A Policy Offline visiting LIC branch or through an agent
Address Proof Aadhar Zip File Address Proof Aadhar
ID Proof ID Proof Pan Card or Aadhar
Age Proof Age Proof Aadhar / Driving License
Income Proof IT Returns of last 2 years
Photo Passport Photo
Buying Online Policy with LICNewPolicyOnline.com
Address Proof Aadhar
ID Proof
Age Proof
Buying A Policy Offline visiting LIC branch or through an agent
Address Proof Aadhar
ID Proof Pan Card or Aadhar
Age Proof Aadhar / Driving License
Income Proof IT Returns of last 2 years
Photo Passport Photo
Frequently Asked Questions

1. What is rate of return in LIC Jeevan Umang?

In Jeevan Umang plan a guaranteed tax-free pension @8% on sum assured is the paid for life time after premium paying term

2. What type of plan is Jeevan Umang?

Jeevan Umang is a regular premium paying plan, where guaranteed tax-free pension @8% on sum assured is paid every year for life time after premium paying term

3. How is Jeevan Umang maturity amount calculated?

In Jeevan Umang plan after premium paying term a guranteed tax-free pension @8% on Sum assured is paid every year for life time after premium paying term. On matuirty full Sum assured along with vested bonus final additional bonus is paid.

4. Is Jeevan Umang tax free?

Yes, its 100% tax-free pension plan Jeevan Umang Plan Tax Benefit

5. What is the difference between Jeevan Umang 845 and 945?

Plan no.845 is discontinued and Plan no.945 is re-introduced

6. Is LIC Jeevan Umang a good investment?

Yes, its a very good investment plan as it provides a guaranteed tax-free pension @8% on sum assured is paid every year for life time

7. Is Jeevan Umang a pension plan?

Yes its a guaranteed tax-free pension plan paid @8% on Sum assured is paid every year for life time

8. What is sum assured in Jeevan Umang?

It's the risk cover you opt at the inception of the policy

9. What is the age at maturity in LIC Jeevan Umang plan?

Minimum maturity age in Jeevan Umang plan is 30 years

10. Is Jeevan Umang a ULIP?

No, it's a traditional, with-profits pension plan.

11. Is Jeevan Umang an annuity plan?

Yes, it's a guaranteed tax-free pension plan paid @ 8% of Sum Assured every year for life time.

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LIC Policy holders enjoy sovereign guarantee by Govt. of India

LIC policyholders enjoy a sovereign guarantee on the sum assured and the bonus declared as per section 37 of LIC Act, 1956 which clearly states that "Policies to be guaranteed by Central Government - The sum assured by all policies issued by the corporation including any bonuses declared in respect thereof and, subject to the provisions contained in section 14 the amounts assured by all policies issued by any insurer the liabilities under which have vested in the corporation under this act, and all bonuses declared in respect thereof, whether before or after the appointed day, shall be guaranteed as to payment in cash by the Central Government."