LIC is India’s foremost provider of insurance for a reason- it has tailor-made plans for every one. It gives people an option to grow their money and remain financially safe in case of unexpected death. LIC has been a great support system for the average middle-class who don’t want to face the risks of the mutual fund market. LIC Jeevan Umang policy is a case in point.
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LIC Jeevan Umang is a great Life Insurance Corporation of India policy. It gives good returns. It also helps people grow their retirement corpus. LIC Jeevan Umang Plan gives you an insurance coverage of up to 100 years, which is massive.
After the maturity of the policy, 8 percent is returned. Bonus is also given at the time of maturity and death. The premium of the policy can help you save taxes under 80C. The maturity amount is free of any income taxes. This policy can be taken for people aged between 90 days and 55 years. At maturity, people get a lump sum amount. After this, you will get a fixed income every year. This provides a life cover for 100 years. After the death of the policy holder, his nominee will also get a lump sum amount as death benefits.
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If one pays a premium of Rs 1302 per month, you will have invested Rs 15298. If you invest this money for 30 years, it will amount to Rs 4.78 lakh. After 31st year, you start getting Rs 40,000 every year. This means you will get Rs 27.60 lakh.
The minimum sum assured is Rs 2 lakh.
This policy holds true LIC’s motto-“Zindagi ke saath bhi, zindagi ke baad bhi!”
