LIC Jeevan Umang Plan (945) [Modified Plan] Maturity Calculator- Calculate Premium Life Cover Survival Benefits maturity up to 100 years (2024)

Enter Your Age, Premium Paying Term (PPT) and Basic Sum Assured along with optional riders to generate illustration for you.

Related Article: How to plan retirement with LIC plans?

About Jeevan Umang (945) Maturity Calculator

In Jeevan Umang Policy, the premium needs to paid for 15, 20, 25 or 30 years depending on the term opted for. After the completion premium payment term, this policy provides 8% of Basic Sum Assured every year up to 99 years of policyholder’s age and maturity on completion of 100 years of age. In case of death before 100 years, nominee gets Death Sum Assured + Simple Revisionary Bonus + FAB. Policy is available for individuals who are between 0(90days) and 55 years old. Policy term depends upon age of the policyholder at the time of purchase and it is (100-age) at the time of purchase.

Premium Waive benefit (PWB) rider: Since this plan is available for minors too, premium waiver benefit rider is a value addition to this plan. A proposer can opt this rider to make sure that his/her minor child does not have to pay premium in his/her absence.

Accidental Death & Disability Benefit (AD & DB) Rider: One can pay additional premium and opt for AD& DB Rider if they are 18(or above) years of age. It would provide additional death claim amount in case of accidental death. For cases where accident causes permanent disability, all further premiums of the rider and base plan are waived off; and the Sum Assured amount would be paid in monthly installments over the next 10 years.

Vijayendra Wrote :

04-08-2022 00:09:21

Hi, i have a plan to take Jeevan Umang, yearly interested to pay 2L, i am 33 year old and want to pay rest 30 years, so total i will be paying 60L. Can you help with details that, if i want to surrender at an age of 64, how much i am going to get the amount. Also, i assume its Tax Free?? Plz confirm.

Insurance21 Wrote :

09-08-2022 14:53:47

Please use premium, maturity and surrender value calculators to calculate all associated benefits and features, in case of any further clarification, please write your query in the comment box. You need to find your sum assured mentioned on your policy document or you can calculate using premium calculator available on the site.

Nripendra Das Barman Wrote :

24-07-2021 14:25:18

I have go through all terms and conditions but could not satisfied about the right figure of return, moreover I have so many policies in your corporation in this regard I would like to request for this plan without agent commission can it possible ? As per my experience a major portion of premium goes to as agent commission which is our hard earn money, so my request is to corporation, those who are want to take new policy directly from you there should be a option for this type of customer.

Insurance21 Wrote :

28-07-2021 13:18:25

Sir, New Plans are available for online purchase without involvement of an agent and more and more plans are coming for online purchase. Regarding agent commission in sale and purchase of policies, suppose there are no agents and LIC employs permanent or even contractual personnel for selling and servicing of policies, you can think of cost involved in paying wages to those employees. Agents are involved in marketing, advertising and distribution of products of insurance companies and these cost have always been significantly high and eventually, is borne by non-other than consumers themselves. Agent model is practiced globally, but yes with advent of internet and eCommerce, businesses are changing their mode of operation and LIC too, is coming up with online plans. Please understand above is not official reply.

Govindaraju Sreehari Wrote :

01-02-2021 15:56:21

Every amount received by an insurance company by the policyholder is tax-free, whether it is survival benefit from money back plan, Jeevan Umang survival, any claim by death or maturity is tax-free, the only pension received by a pension plan is taxable. G. Sreehari 9849850098 Iciciprulife thank you

Insurance21 Wrote :

02-02-2021 00:47:55

Thanks for your input. Not every amount received from an insurance company is tax-free. For example, the maturity amount of a single premium plan is not tax-free. For non-single premium insurance plans, the annualized premium must be less than 10% of the absolute assured amount to be eligible for tax-free maturity.