LIC’s flexible whole-life insurance plan, Jeevan Umang, protects you and helps you save money for the future. With this plan, you can use the sure refund at maturity to save for retirement, pay for school, or plan your estate. If the insured dies during the policy term, their family will get a death payment.
How the LIC Jeevan Umang App Works
LIC’s Jeevan Umang is appealing to people who want a steady income and long-term safety. Once the premiums are paid, the insurance gives a survival bonus of 8% of the base amount covered every year. These rewards will keep coming every year until the insurance runs out or the covered person dies. At the end of 100 years, the insured gets a big sum of the sum assured plus any bonuses they’ve earned. This is a good way to build a collection of investments.
Death and Getting Older Are Good
If the insured dies during the insurance period, the death benefit pays the candidate the base amount promised plus any bonuses that have been earned. This benefit gives customers peace of mind that their families will be able to pay their bills when times get tough.
Benefits for survival: steady income
After fees are paid, LIC Jeevan Umang offers annual survival benefits, which is fantastic. Policyholders who pay monthly and have a baseline amount of INR 10 lakh will get death benefits of INR 80,000. Jeevan Umang provides a stable income that may be supplemented to a pension or other assets for retirement.
Policy Growth and Bonus Participation
Jeevan Umang, a partner insurance, may get LIC’s performance incentives. The death or age benefit pays basic reversionary bonuses throughout the insurance period. This boosts policy returns. The final extra bonus (FAB) increases insurance payments, which benefits the client and family in various ways.
Sort Term Insurance Plans By Price
The main goal of term guarantee plans is to offer a large amount of insurance at a low cost. However, they do not pay out if the client dies. The growth and survival benefits of LIC’s Jeevan Umang make it a better choice for protecting and building your money. The Anmol Jeevan and Amulya Jeevan term plans from LIC are good for low-cost insurance that covers only risk.
Why LIC’s Jeevan Umang is Better Than Regular Savings
This Jeevan Umang plan from LIC shall secure your life and assure returns better than at present prevalent modes like FDs or PPFs since it comes with bonuses. If you wish to save and secure your life at the same time, Jeevan Umang is a much better option than FDs and PPFs, giving you safety and steady returns but no insurance. The plan appears good because it gives tax benefits under Section 80C for premiums paid and under Section 10(10D) for the benefits received on death or survival.