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LIC Jeevan Umang Policy: Secure Your Future With Guaranteed Lifetime Pension And Insurance Benefits
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News18•10-10-2026, 21:10
LIC Jeevan Umang Policy: Secure Your Future With Guaranteed Lifetime Pension And Insurance Benefits
- •LIC Jeevan Umang is a non-linked whole-life insurance plan that offers life cover alongside a guaranteed lifetime pension at 8 percent of the sum assured.
- •Individuals ranging from a 30-day-old infant to a 55-year-old person can purchase this policy, which matures when the policyholder turns 100.
- •After the premium payment term ends, policyholders receive annual payouts until age 100, and upon turning 100, the basic sum assured with accumulated bonuses is paid.
- •The plan provides tax benefits under Section 80C on premiums paid and Section 10(10D) on maturity proceeds, along with risk cover and optional riders.
Key Questions Answered
The Jeevan Umang policy can be purchased for individuals ranging from a 30-day-old infant to a 55-year-old person, offering a minimum life cover of Rs. 2 lakh with no upper limit.
After the premium payment term ends, the policyholder receives an annual pension or payout at a rate of 8% of the basic sum assured until the age of 100.
The premiums paid toward this policy are eligible for tax deductions under Section 80C, and the maturity proceeds are generally tax-free under Section 10(10D).
