About LIC Jeevan Umang (Plan 945)
LIC Jeevan Umang is a whole-life plan with guaranteed 8% yearly income. Pay premiums for a limited period (15/20/25/30 years) and then receive 8% of Sum Assured every single year till age 99 — plus a full maturity benefit at age 100 or death benefit for your family whenever the claim arises.
How the 8% Lifetime Income Works (₹25 Lakh SA, Age 30, PPT 20)
| Phase | Ages | What Happens |
|---|---|---|
| Premium Phase | 30–50 | Pay ~₹1.20 lakh/yr (₹25L SA) for 20 years |
| Income Phase | 51–99 | Receive ₹2,00,000 every year — guaranteed, tax-free* |
| Century Bonus | 100 | SA + bonuses + FAB paid as maturity |
| Any time death | — | Family receives SA + vested bonus (min 105% of premiums) |
Key Features of Plan 945
- Guaranteed 8% yearly survival benefit after PPT — for life
- Entry age: 90 days to 55 years — great for children & retirement both
- Bonus: accrues for the entire policy duration (to age 100), creating a huge terminal corpus
- Riders: ADB, Accident Benefit, New Term Assurance, Critical Illness, Premium Waiver
- Loan facility available; premiums qualify for 80C, payouts under 10(10D)*
*Subject to prevailing income-tax rules.