LIC Jeevan Umang
  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure
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LIC Jeevan Umang

LIC Jeevan Umang (Plan No: 945) is a conventional, with-profit, non-linked endowment plan with complete life insurance coverage. The policy provides the needful coverage at regular payout from the end of the premium payment term until the date of your survival. After completing the policy tenure or if the policyholder dies within the policy period, a fixed sum of money is payable. It is a participating plan that is eligible for a Simple Reversionary Bonus and Final Addition Bonus.

LIC Jeevan Umang Plan offers you a range of benefits including:

why-choose
  • Death Benefits
  • Maturity Benefits
  • Rider benefits
  • Profit Participation
  • Policy Loan

Eligibility Criteria for LIC Life STEP Plan

Your Occupation

Entry age

Minimum Age - 90 days Maximum Age - 55 years

Mukhyamantri Amrutam Yojana

Maturity age

Maximum Maturity Age - 100 years

Your Gender

Policy tenure

100 Minus Age at Entry

Maternity Benefit Rider

Premium payment term

15 to 30 years

Dr YSR Aarogyasri Trust

Premium payment frequency

Annual, half-yearly, quarterly & monthly

Maternity Benefit Rider

Sum assured

Rs 2 lakh to No limit

How Does the LIC Jeevan Umang Plan Work?

Let's understand how the LIC Jeevan Umang Plan works with a simple premium illustration.

Why Buy Term Insurance Online?

Problem

Mr. Verma is looking for an endowment plan that offers him maturity benefits and profit participation.

Solution

His financial advisor advised him to buy the LIC Jeevan Umang Plan. He visited PolicyX.com

Let's understand how the LIC Jeevan Umang Plan works for him with a premium illustration table.

Age of policyholder Policy Term Basic sum assured Annual Premiums 
30 years 20 years Rs 2 lakh Rs 10,692

 

Features of LIC Jeevan Umang

Here are some features of LIC Jeevan Umang:

LIC Life Insurance Life Plan

LIC Jeevan Labh (Plan No: 936) is a limited premium paying, non-linked (Not dependent on equity-based funds and money/share market) with-profit endowm...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Jeevan Labh (Pros)

LIC Jeevan Labh
  • Death Benefits
  • Maturity Benefits
  • Loyalty Additions

LIC Jeevan Labh (Cons)

LIC Jeevan Labh
  • No auto cover benefit
  • No return of premium
  • No premium waiver

LIC Jeevan Labh (Other Benefits)

LIC Jeevan Labh
  • Additional Rider Options
  • Grace Period
  • Loan FacilityAdditional Rider Options
  • Grace Period
  • Loan Facility

LIC Jeevan Labh (Eligibility Criteria)

LIC Jeevan Labh
  • Minimum Entry Age- 18 Years
  • Maximum Entry Age- 65 years
  • Minimum Sum Assured- Rs 1 lakh
  • Maximum Sum Assured- No limit

This plan has double roles to play. Firstly, this plan is applicable for safeguarding a family after the untimely death of the policyholder. Secondly,...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Premium Endowment (Pros)

LIC Premium Endowment
  • Death Benefits
  • Maturity Benefits
  • Loyalty Additions

LIC Premium Endowment (Cons)

LIC Premium Endowment
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Premium Endowment (Other Benefits)

LIC Premium Endowment
  • Additional Rider Options
  • Grace Period
  • Loan Facility

LIC Premium Endowment (Eligibility Criteria)

LIC Premium Endowment
  • Minimum entry age- 14 years
  • Maximum entry age- 45 years
  • Minimum sum assured- Rs 1
  • 00
  • 000 Maximum sum assured- Rs 5
  • 00
  • 000
  • Maximum policy term- 20 years

LIC's Jeevan Tarun is basically a participating non-linked limited premium plan that offers a great combination of protection along with savings for y...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Jeevan Tarun (Pros)

LIC Jeevan Tarun

LIC Jeevan Tarun (Cons)

LIC Jeevan Tarun

LIC Jeevan Tarun (Other Benefits)

LIC Jeevan Tarun

LIC Jeevan Tarun (Eligibility Criteria)

LIC Jeevan Tarun

The future of the world depends on the strength of the children today. But if they are not prepared for that purpose, the dream will be unattainable. ...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC New Children Money Back Plan (Pros)

LIC New Children Money Back Plan
  • Death Benefits
  • Maturity Benefits
  • Loyalty Additions

LIC New Children Money Back Plan (Cons)

LIC New Children Money Back Plan
  • No pre-existing condition
  • No auto cover
  • No guranteed benefit

LIC New Children Money Back Plan (Other Benefits)

LIC New Children Money Back Plan
  • Additional Rider Options
  • Grace Period
  • Loan Facility

LIC New Children Money Back Plan (Eligibility Criteria)

LIC New Children Money Back Plan
  • Minimum entry age- 0 years
  • Maximum entry age- 12 years
  • Minimum sum assured- Rs 1
  • 00
  • 000 Maximum sum assured- No limit Maximum policy term- 25 minus entry age

Ever come across a large pile of banknotes? You know, by winning the lottery or hitting the jackpot at your favorite casino? Your first instinct must ...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Bima Bachat (Pros)

LIC Bima Bachat
  • Death Benefits
  • Maturity Benefits
  • Loyalty Additions

LIC Bima Bachat (Cons)

LIC Bima Bachat
  • No pre-existing condition
  • No auto-cover benefit
  • No guranteed benefit

LIC Bima Bachat (Other Benefits)

LIC Bima Bachat
  • Additional Rider Options
  • Grace Period
  • Loan Facility

LIC Bima Bachat (Eligibility Criteria)

LIC Bima Bachat
  • Minimum entry age- 15 years
  • Maximum entry age- 66 years
  • Minimum sum assured- Rs 35
  • 000 Maximum sum assured- No limit Maximum policy term- 15 years

LIC launched the Bima Diamond Plan (table No. 841) on September 19, 2016. This is a non-linked plan, i.e. it doesn't depend on the share market. It is...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Bima Diamond (Pros)

LIC Bima Diamond
  • Death Benefits
  • Maturity Benefits
  • Loyalty Additions

LIC Bima Diamond (Cons)

LIC Bima Diamond
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Bima Diamond (Other Benefits)

LIC Bima Diamond
  • Additional Rider Options
  • Grace Period
  • Loan Facility

LIC Bima Diamond (Eligibility Criteria)

LIC Bima Diamond
  • Minimum entry age- 14 years
  • Maximum entry age- 45 years
  • Minimum sum assured- Rs 1
  • 00
  • 000 Maximum sum assured- Rs 5
  • 00
  • 000
  • Maximum policy term- 20 years

When it comes to offering a complete insurance suite of the most comprehensive financial security in terms of health and life, you are in safe hands w...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Jeevan Arogya (Pros)

LIC Jeevan Arogya
  • Increasing health cover
  • No claim benefit
  • Premium waiver benefit

LIC Jeevan Arogya (Cons)

LIC Jeevan Arogya
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Jeevan Arogya (Other Benefits)

LIC Jeevan Arogya
  • Hospital cash benefit
  • Ambulance Benefit
  • Premium waiver Benefit

LIC Jeevan Arogya (Eligibility Criteria)

LIC Jeevan Arogya
  • Minimum entry age- 91 days
  • Maximum entry age- 75 years
  • Minimum sum assured- Rs 1
  • 00
  • 000 Maximum sum assured- No limit
  • Maximum policy term- 20 years

LIC Jeevan Shagun is a non-linked, participating, savings with protection single premium Money-Back plan. The policy provides high life cover in the e...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Jeevan Shagun (Pros)

LIC Jeevan Shagun
  • Death Benefits
  • Maturity Benefits
  • Loyalty Additions

LIC Jeevan Shagun (Cons)

LIC Jeevan Shagun
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Jeevan Shagun (Other Benefits)

LIC Jeevan Shagun
  • Additional Rider Options
  • Grace Period
  • Loan Facility

LIC Jeevan Shagun (Eligibility Criteria)

LIC Jeevan Shagun
  • Minimum entry age- 8 years
  • Maximum entry age- 45 years
  • Minimum sum assured- Rs 60
  • 000 Maximum sum assured- No limit
  • Maximum policy term- 12 years

The LIC New Money Back Plan 20 Years (Plan No: 920)was floated on January 6, 2014 to cater to the financial needs of the business and the salaried cla...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC New Money Back 20 Years (Pros)

LIC New Money Back 20 Years
  • Death Benefits
  • Maturity Benefits
  • Loyalty Additions

LIC New Money Back 20 Years (Cons)

LIC New Money Back 20 Years
  • No pre-existing condition
  • No auto-cover continuance
  • No guranteed benefit

LIC New Money Back 20 Years (Other Benefits)

LIC New Money Back 20 Years
  • Additional Rider Options
  • Grace Period
  • Loan Facility

LIC New Money Back 20 Years (Eligibility Criteria)

LIC New Money Back 20 Years
  • Minimum entry age- 13 years
  • Maximum entry age- 50 years
  • Minimum sum assured- Rs 1 lakh
  • Maximum sum assured- No limit
  • Maximum policy term- 20 years

LIC Jeevan Akshay VI Plan is an immediate annuity pure pension plan for senior citizens provided by one of the top ranked insurance companies in India...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Jeevan Akshay (Pros)

LIC Jeevan Akshay
  • Death Benefits
  • Maturity Benefits
  • Loyalty Additions

LIC Jeevan Akshay (Cons)

LIC Jeevan Akshay
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Jeevan Akshay (Other Benefits)

LIC Jeevan Akshay
  • Additional Rider Options
  • Grace Period
  • High Sum Assured Rebates

LIC Jeevan Akshay (Eligibility Criteria)

LIC Jeevan Akshay
  • Minimum entry age- 25 years
  • Maximum entry age- 85 years
  • Minimum sum assured- Rs 2 lakh
  • Maximum sum assured- Rs 5 lakhs
  • Maximum policy term- 20 years

Of the many efficient plans of LIC, the Jeevan Shikhar Plan stands out in terms of benefits and simplicity of terms. The endowment plan was initially ...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Jeevan Shikhar (Pros)

LIC Jeevan Shikhar

LIC Jeevan Shikhar (Cons)

LIC Jeevan Shikhar

LIC Jeevan Shikhar (Other Benefits)

LIC Jeevan Shikhar

LIC Jeevan Shikhar (Eligibility Criteria)

LIC Jeevan Shikhar

LIC's Aadhaar Stambh Plan (Plan No: 943, UIN: 512N310V01) is a non-linked insurance plan, with profits and a regular premium-paying endowment plan. It...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Aadhaar Stambh (Pros)

LIC Aadhaar Stambh
  • Death Benefits
  • Maturity Benefits
  • Participation in Profits

LIC Aadhaar Stambh (Cons)

LIC Aadhaar Stambh
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Aadhaar Stambh (Other Benefits)

LIC Aadhaar Stambh
  • Additional Rider Options
  • Grace Period
  • High Sum Assured Rebates

LIC Aadhaar Stambh (Eligibility Criteria)

LIC Aadhaar Stambh
  • Minimum entry age- 8 years
  • Maximum entry age- 55 years
  • Minimum sum assured- Rs 2 lakh
  • Maximum sum assured- Rs 5 lakhs
  • Maximum policy term- 20 years

LIC’s Aadhaar Shila Plan (Plan No: 944) is a non-linked insurance plan, with profits and a regular premium-paying endowment plan. This plan is a...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Aadhaar Shila (Pros)

LIC Aadhaar Shila
  • Death Benefits
  • Maturity Benefits
  • Participation in Profits

LIC Aadhaar Shila (Cons)

LIC Aadhaar Shila
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Aadhaar Shila (Other Benefits)

LIC Aadhaar Shila
  • Additional Rider Options
  • Grace Period
  • High Sum Assured Rebates

LIC Aadhaar Shila (Eligibility Criteria)

LIC Aadhaar Shila
  • Minimum entry age- 8 years
  • Maximum entry age- 55 years
  • Minimum sum assured- 75
  • 000
  • Maximum sum assured- 3 lakhs
  • Maximum policy term- 20 years

LIC Jeevan Umang (Plan No: 945) is a conventional, with-profit, non-linked endowment plan with complete life insurance coverage. The policy provides t...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Jeevan Umang (Pros)

LIC Jeevan Umang
  • Death Benefits
  • Maturity Benefits
  • Participation in Profits

LIC Jeevan Umang (Cons)

LIC Jeevan Umang
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Jeevan Umang (Other Benefits)

LIC Jeevan Umang
  • Additional Rider Options
  • Grace Period
  • High Sum Assured Rebates

LIC Jeevan Umang (Eligibility Criteria)

LIC Jeevan Umang
  • Minimum entry age- 90 days
  • Maximum entry age- 55 years
  • Minimum sum assured- 2 lakh
  • Maximum sum assured- No limit
  • Maximum policy term- 100 Minus Age at Entry

LIC New Jeevan Anand is a participating non-linked plan providing a combination of both protection and savings. The plan offers financial protection a...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC New Jeevan Anand (Pros)

LIC New Jeevan Anand
  • Death Benefits
  • Maturity Benefits
  • Participation in Profits

LIC New Jeevan Anand (Cons)

LIC New Jeevan Anand
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC New Jeevan Anand (Other Benefits)

LIC New Jeevan Anand
  • Additional Rider Options
  • Grace Period
  • High Sum Assured Rebates

LIC New Jeevan Anand (Eligibility Criteria)

LIC New Jeevan Anand
  • Minimum entry age- 18 years
  • Maximum entry age- 50 years
  • Minimum sum assured- 1 lakh
  • Maximum sum assured- No limit
  • Maximum policy term- 35 years

LIC Jeevan Rakshak Plan (Table No. 827) is a participating non-linked plan that provides a combination of insurance and savings. As the name suggests,...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Jeevan Rakshak Plan (Pros)

LIC Jeevan Rakshak Plan
  • Death Benefits
  • Maturity Benefits
  • Participation in Profits

LIC Jeevan Rakshak Plan (Cons)

LIC Jeevan Rakshak Plan
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Jeevan Rakshak Plan (Other Benefits)

LIC Jeevan Rakshak Plan
  • Policy Revival
  • High Sum Assured Rebates
  • Additional Riders

LIC Jeevan Rakshak Plan (Eligibility Criteria)

LIC Jeevan Rakshak Plan
  • Minimum entry age- 8 years
  • Maximum entry age- 55 years
  • Minimum sum assured- Rs 75
  • 000
  • Maximum sum assured- Rs 2 lakhs
  • Maximum policy terrm- 20 years

For the financial security of children and families, the LIC Jeevan Lakshya Plan (Plan No: 933) is the most suitable one. It is a collection of saving...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Jeevan Lakshya Plan (Pros)

LIC Jeevan Lakshya Plan
  • Death Benefits
  • Maturity Benefits
  • Participation in Profits

LIC Jeevan Lakshya Plan (Cons)

LIC Jeevan Lakshya Plan
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Jeevan Lakshya Plan (Other Benefits)

LIC Jeevan Lakshya Plan
  • Additional Rider Options
  • Grace Period
  • High Sum Assured Rebates

LIC Jeevan Lakshya Plan (Eligibility Criteria)

LIC Jeevan Lakshya Plan
  • Minimum entry age- 18 years
  • Maximum entry age- 50 years
  • Minimum sum assured- 1 lakh
  • Maximum sum assured- No limit
  • Maximum policy terrm- 25 years

LIC New Endowment Plan-one of the best policy by LIC India. The LIC New Endowment plan (Plan No: 914) is a must-avail plan considering the many benefi...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC New Endowment Plan (Pros)

LIC New Endowment Plan
  • Death benefits
  • Maturity benefits
  • Participation in profits

LIC New Endowment Plan (Cons)

LIC New Endowment Plan
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC New Endowment Plan (Other Benefits)

LIC New Endowment Plan
  • High sum assured rebate
  • Surrender benefit
  • Policy revival

LIC New Endowment Plan (Eligibility Criteria)

LIC New Endowment Plan
  • Minimum entry age- 8 years
  • Maximum entry age- 55 years
  • Minimum sum assured- 1 lakh
  • Maximum sum assured- No limit
  • Maximum policy term- 35 years

It is a traditional endowment with death and maturity benefits to the policyholder. Even a bonus facility is given along. In this plan, the premium is...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Single Premium Endowment (Pros)

LIC Single Premium Endowment
  • Death Benefits
  • Maturity Benefits
  • Tax Benefits

LIC Single Premium Endowment (Cons)

LIC Single Premium Endowment
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Single Premium Endowment (Other Benefits)

LIC Single Premium Endowment
  • Loan Facility
  • High Sum Assured Rebate
  • Surrender Benefit

LIC Single Premium Endowment (Eligibility Criteria)

LIC Single Premium Endowment
  • Minimum entry age- 90 days
  • Maximum entry age- 65 years
  • Minimum sum assured- Rs 50
  • 000
  • Maximum sum assured- No limit
  • Maximum policy term- 25 years

LIC Jeevan Saral is an Endowment Assurance plan under which the proposer has simply to choose the amount and mode of premium payment. The plan comes o...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Jeevan Saral (Pros)

LIC Jeevan Saral
  • Death Benefits
  • Maturity Benefits
  • Tax Benefits

LIC Jeevan Saral (Cons)

LIC Jeevan Saral
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Jeevan Saral (Other Benefits)

LIC Jeevan Saral
  • Loan Facility
  • Loyalty Additions
  • House Loan

LIC Jeevan Saral (Eligibility Criteria)

LIC Jeevan Saral
  • Minimum entry age- 12 years
  • Maximum entry age- 60 years
  • Minimum sum assured- 5 lakhs
  • Maximum sum assured- Rs 25 lakhs
  • Maximum policy term- 35 years

Pradhan Mantri Vaya Vandana Yojana is a single premium payment pension plan. This pension plan offers an option to either choose the amount of pension...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Pradhan Mantri Vaya Vandana Yojana (Pros)

LIC Pradhan Mantri Vaya Vandana Yojana
  • Death Benefits
  • Maturity Benefits
  • Pension Benefits

LIC Pradhan Mantri Vaya Vandana Yojana (Cons)

LIC Pradhan Mantri Vaya Vandana Yojana
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Pradhan Mantri Vaya Vandana Yojana (Other Benefits)

LIC Pradhan Mantri Vaya Vandana Yojana
  • Loan Facility
  • Surrender Benefits
  • Choice of pension payments

LIC Pradhan Mantri Vaya Vandana Yojana (Eligibility Criteria)

LIC Pradhan Mantri Vaya Vandana Yojana
  • Minimum entry age- 60 years
  • Maximum entry age- No limit
  • Minimum sum assured- -
  • Maximum sum assured- -
  • Maximum policy terrm- Whole life

(A Perfect Gift For Your Beloved Daughter) LIC Kanyadan policy is the perfect financial coverage for your daughter with a very low premium. Unlike oth...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Kanyadan Policy (Pros)

LIC Kanyadan Policy

LIC Kanyadan Policy (Cons)

LIC Kanyadan Policy

LIC Kanyadan Policy (Other Benefits)

LIC Kanyadan Policy

LIC Kanyadan Policy (Eligibility Criteria)

LIC Kanyadan Policy

Life Insurance Corporation (LIC) is an Indian insurance company owned by the Government of India. It was founded on 1st September 1956 and is headquar...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Jeevan Shanti (Pros)

LIC Jeevan Shanti
  • Death Benefits
  • Maturity Benefits
  • Loan Faciliy

LIC Jeevan Shanti (Cons)

LIC Jeevan Shanti
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Jeevan Shanti (Other Benefits)

LIC Jeevan Shanti
  • No medical examinations
  • Reduction in annuity rates
  • Rebates

LIC Jeevan Shanti (Eligibility Criteria)

LIC Jeevan Shanti
  • Minimum entry age- 30 years
  • Maximum entry age- 79 years
  • Minimum sum assured- 1 lakh
  • Maximum sum assured- No limit
  • Maximum policy terrm- Subject to maximum vesting age

LIC Jeevan Saathi is basically an endowment assurance policy that is there to ensure the lives of husband and wife. It offers the required financial p...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Jeevan Saathi (Pros)

LIC Jeevan Saathi
  • Partial withdrawals
  • Switching
  • Increase/decrease of life cover

LIC Jeevan Saathi (Cons)

LIC Jeevan Saathi
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Jeevan Saathi (Other Benefits)

LIC Jeevan Saathi
  • Additional riders to choose
  • Discontinuance of premiums
  • Choice of policy tenure

LIC Jeevan Saathi (Eligibility Criteria)

LIC Jeevan Saathi
  • Minimum entry age- 18 years
  • Maximum entry age- 55 years
  • Minimum sum assured- 1 lakh
  • Maximum sum assured- No limit
  • Maximum policy terrm- 20 years

LIC Micro Bachat Plan (Table No. 951) is a traditional, non-linked, participating micro-insurance plan that offers dual benefits of protection as well...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Micro Bachat (Pros)

LIC Micro Bachat

LIC Micro Bachat (Cons)

LIC Micro Bachat

LIC Micro Bachat (Other Benefits)

LIC Micro Bachat

LIC Micro Bachat (Eligibility Criteria)

LIC Micro Bachat

LIC has been very dynamic in introducing plans according to different individuals' demands. The LIC Komal Jeevan Plan is exclusively fabricated for ch...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Komal Jeevan (Pros)

LIC Komal Jeevan
  • Death Benefits
  • Maturity Benefits
  • Survival Benefits

LIC Komal Jeevan (Cons)

LIC Komal Jeevan
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Komal Jeevan (Other Benefits)

LIC Komal Jeevan
  • Loyalty Additions
  • Guaranteed Additions
  • Surrender Value

LIC Komal Jeevan (Eligibility Criteria)

LIC Komal Jeevan
  • Minimum entry age- 90 days
  • Maximum entry age- 18 years
  • Minimum sum assured- 1 lakh
  • Maximum sum assured- Rs 25 lakhs
  • Maximum policy terrm- 26 years

LIC Navjeevan is a newly launched plan by the Life Insurance Corporation of India. It is a non-linked with profit endowment assurance plan. It is a co...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Navjeevan Plan (Pros)

LIC Navjeevan Plan
  • Annuity Options
  • Whole life cover
  • Participation in profits

LIC Navjeevan Plan (Cons)

LIC Navjeevan Plan
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Navjeevan Plan (Other Benefits)

LIC Navjeevan Plan
  • Multiple riders to choose from
  • Loan facility
  • Surrender value

LIC Navjeevan Plan (Eligibility Criteria)

LIC Navjeevan Plan
  • Minimum entry age- 90 days
  • Maximum entry age- 45 years
  • Minimum sum assured- 1 lakh
  • Maximum sum assured- No limit
  • Maximum policy terrm- 18 years

LIC SIIP is a unit-linked non-participating individual life insurance plan. The plan comes out as an opportunity to monetize the investment options of...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC SIIP Plan (Pros)

LIC SIIP Plan
  • Maturity Benefits
  • Death Benefits
  • Additions

LIC SIIP Plan (Cons)

LIC SIIP Plan
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC SIIP Plan (Other Benefits)

LIC SIIP Plan
  • Partial withdrawals
  • Switching
  • Revival

LIC SIIP Plan (Eligibility Criteria)

LIC SIIP Plan
  • Minimum entry age- 90 days
  • Maximum entry age- 65 years
  • Minimum sum assured- 1 lakh
  • Maximum sum assured- 10 Lac
  • Maximum policy term- 25 years

LIC Bima Shree Policy is a traditional, non-linked, and with-profit money-back life insurance policy that features guaranteed additions to provide sec...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Bima Shree (Pros)

LIC Bima Shree

LIC Bima Shree (Cons)

LIC Bima Shree

LIC Bima Shree (Other Benefits)

LIC Bima Shree

LIC Bima Shree (Eligibility Criteria)

LIC Bima Shree

LIC Nivesh Plus is a unit-linked, non-participating, and single-premium individual life insurance plan. It offers insurance cum investment benefits th...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Nivesh Plus (Pros)

LIC Nivesh Plus
  • Death Benefit
  • Maturity Benefit
  • Guaranteed Additions

LIC Nivesh Plus (Cons)

LIC Nivesh Plus
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Nivesh Plus (Other Benefits)

LIC Nivesh Plus
  • Partial Withdrawals
  • Switches
  • Payout in installments

LIC Nivesh Plus (Eligibility Criteria)

LIC Nivesh Plus
  • Minimum entry age- 90 days
  • Maximum entry age- 70 years
  • Minimum sum assured- 1 lakh
  • Maximum sum assured- No limit
  • Maximum policy terrm- 25 years

Jeevan Akshay- VII (Table No. 857) is a single premium, non-linked, and non-participating immediate annuity plan. It pays annuity or pension to the po...

Unique Features

  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure

LIC Jeevan Akshay VII (Pros)

LIC Jeevan Akshay VII
  • Loan Facility
  • Incentives
  • Multiple Annuity Options

LIC Jeevan Akshay VII (Cons)

LIC Jeevan Akshay VII
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

LIC Jeevan Akshay VII (Other Benefits)

LIC Jeevan Akshay VII
  • No Medical Examination
  • Guaranteed Annuity Rates
  • Free look period

LIC Jeevan Akshay VII (Eligibility Criteria)

LIC Jeevan Akshay VII
  • Minimum entry age- 18 years
  • Maximum entry age- 65 years
  • Minimum sum assured- 1 lakh
  • Maximum sum assured- 10 Lac
  • Maximum policy terrm- 67 years

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Benefits of LIC Jeevan Umang Plan

There are various benefits to buying the LIC Jeevan Umang Plan. Let’s understand each of them in detail:

  • Death Benefit On death during the first five policy years: Benefit is payable in case of death of an insured person before the maturity time. Before the date of commencement of risk: Refund of premium(s) paid without interest will be payable.
  • Maturity Benefits:  In the case where the insured survives till the end of the policy period, provided all the due premiums have been paid, the Sum Assured on Maturity along with Loyalty Addition, will be payable.
  • Participation in profits:  In case where the insured has completed five years and paid all premiums, then depending upon the Corporation's experience the policies under this plan will be liable for Loyalty Addition at the time of exit in the form of Death during the policy term or Maturity.
  • Additional rider options: You can avail of additional rider with your term plan as per your requirement.

Documents Required to Buy LIC Jeevan Umang Plan

Here is the list of documents required to buy the LIC Jeevan Umang Plan:

Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy LIC Jeevan Umang?

You can buy the LIC Jeevan Umang official website or one of their nearest branch offices.

Life Insurance
  • Step 1

    Visit the official website of PolicyX.com.

  • Step 2

    Click on the ‘Investment’ tab.

  • Step 3

    A new page will appear on the screen.

  • Step 4

    Fill out the form at the top of the page with the necessary details.

  • Step 5

    Select your income and city. Click on 'Proceed'.

  • Step 6

    Update your education and occupation details.

  • Step 7

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 8

    Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

Life Insurance
  • Step 1

    Visit the official website of Life Insurance Corporation of India.

  • Step 2

    Hover over the 'Wealth Creation'.

  • Step 3

    Click on the 'LIC Jeevan Umang Plan'.

  • Step 4

    Click on ‘Buy Online’ and you will be redirected to a new page.

  • Step 5

    Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.

  • Step 6

    Once discussed you can make the premium payment and get the policy documents.

Buying from their branch office

You can buy the LIC Jeevan Umang Plan offline by visiting one of their nearest branch offices. One of their representatives will help you buy the plan.

Your Occupation

Exclusions of LIC New Jeevan Umang Plan

  • In case the policyholder commits suicide within 12 months of policy purchase then no death benefits are offered to their family members. Either 80% of the premiums paid to date or the surrender value acquired to date whichever is higher is paid.

Plan At a Glance

What’s Good Here What’s Missing
Death Benefits Premium Offset
Maturity Benefits High sum assured rebate
Survival Addition Auto cover continuance
Profit Participation Top-up premium

In a nutshell

If you are looking for an endowment plan that provides death benefits to your family in case of your uncertain demise along with maturity benefits you should buy the LIC Jeevan Umang Plan. If you are still confused about whether buying this plan is right for you or not then you can contact us at PolicyX.com. 

For more info related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.

FAQs: LIC Jeevan Umang

1. What is LIC Jeevan Umang Plan, and how does it work?

LIC Jeevan Umang is a non-linked, with-profits, whole life assurance plan. Under this plan, the policyholder has to pay premiums regularly for the chosen policy term, and in return, the plan provides life insurance coverage for the entire lifetime of the policyholder. The policy also pays out annual survival benefits after the premium payment term and a lump sum payment on maturity or death.

2. What are the eligibility criteria for LIC Jeevan Umang Policy?

The minimum entry age for the policyholder is 90 days, and the maximum entry age is 55 years. The maximum maturity age for the policyholder is 100 years. And the minimum sum assured under this plan is Rs. 2,00,000, and there is no maximum limit on the sum assured.

3. What are the premium payment options available under LIC Jeevan Umang Plan?

The policyholder can choose to pay premiums yearly, half-yearly, quarterly, or monthly. The premium payment term for this plan is the same as the policy term, which can be 15, 20, 25, or 30 years.

4. What are the advantages and disadvantages of the LIC Jeevan Umang Plan?

The plan provides a guaranteed annual survival benefit (ASB) of 8% of the basic sum assured after the premium payment term until the policyholder’s death or maturity. On maturity, the policyholder receives a lump sum payment of the basic sum assured. In case of the policyholder’s death, the nominee receives the sum assured along with any accrued bonuses(if any). There are no such disadvantages to the Jeevan Umang LIC plan.

5. Can the policyholder take a loan against LIC Jeevan Umang Plan?

Yes, the policyholder can take a loan against this plan after the policy acquires a surrender value, which usually happens after the premium payment term. The loan amount can be up to 90% of the surrender value, and the interest rate on the loan is decided by LIC from time to time.

6. Does LIC Jeevan Umang provide coverage against fatalities brought on by any Critical illnesses?

Yes, your plan will cover any natural deaths or health-related problems. The LIC Critical Illness Rider, which provides coverage for 15 critical illnesses, is another option if you want more comprehensive coverage.

Life Insurance Companies

Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.

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Himanshu Kumar

Written By: Naval Goel

Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.