LIC’s Jeevan Umang: Get Rs 48,000 Annually on an Investment of Rs 54
A substantial number of individuals across the country rely on the government-owned company LIC (Life Insurance Corporation) for purchasing life insurance. LIC offers numerous plans that not only provide insurance coverage but also deliver attractive returns.
One such plan is LIC Jeevan Umang, which offers lifelong benefits to investors, including maturity benefits.
Understanding LIC’s Jeevan Umang:
LIC’s Jeevan Umang is a non-linked, participating life assurance plan designed to offer financial security to your family while ensuring a steady income stream. The key feature of this policy is that investors receive survival benefits until maturity once the premium payment period concludes. Additionally, LIC provides a lump sum payment to the policyholder upon maturity or death.
How to Avail the Benefit of Rs 48,000 Annually with Rs 55 Investment:
Suppose an individual, aged 25, opts for LIC’s Jeevan Umang Plan with a sum assured of Rs 6 lakh for a term of 30 years. In this scenario, the monthly premium amounts to Rs 1638, equivalent to Rs 54.6 per day. Upon completion of the policy’s payment term at age 55, the investor receives Rs 48,000 annually until maturity. Upon maturity, the insured receives an amount of Rs 28 lakh, inclusive of the sum assured and bonuses. The maturity age for this scheme is 100 years, ensuring maturity benefits even at age 100.
Understanding Death Benefit:
LIC’s Jeevan Umang plan includes a death benefit feature. In the unfortunate event of the policyholder’s demise during the policy term, the nominee receives the Sum Assured along with Reversionary Bonus and Final Additional Bonus. The death benefit is never less than 105 percent of the premiums paid on behalf of the insured. It’s important to note that premiums are exempt from tax.
LIC’s Jeevan Umang presents a compelling investment opportunity, offering both insurance coverage and attractive returns, ensuring financial security for you and your loved ones throughout life.