LIC Jeevan Umang policy: Investment, maturity, eligibility, benefits and more

The LIC Jeevan Umang Plan is a lifelong insurance policy aimed to provide your family with financial security in your absence. From the time you pay the final premium until the time the policy matures, the plan gives out yearly survivor benefits. On top of this, the policy further provides a lump sum payment when the policy finally matures or in the unfortunate case of the policyholder’s passing away during the policy term. One of the key benefits of the LIC Umang Plan is that it provides the family of the policyholder with both money and insurance coverage. This can prove vital in helping the insured’s family when they are no more. Moreover, even in case of an emergency, the benefits of the policy act as a reliable financial safety net. Why should one opt for the LIC Jeevan Umang policy? One needs to consider numerous factors before picking an insurance policy and in order to make an informed decision, one should know the primary benefits of each of the policies available in the market. On this note, we will be taking a look at the reasons one should pick the LIC Jeevan Umang policy. One of the key perks of the policy is that it provides tax-free payment on maturity. It further offers life-long risk cover until the age of 100, and a guaranteed payment till the age of 30. Furthermore, anyone between the age of 90 days and 55 years can apply for the LIC Jeevan Umang policy. It assures a minimum sum of Rs 2,00,000, with no upper limit on the payment. Now, let us try and understand this through an example. Imagine a 30-year-old male who buys the policy. He can invest Rs 5,000 every month, Rs 15,000 every quarter, or Rs 50,000 annually. In this scenario, he will be eligible for a sum of Rs. 10,00,000 for a policy term of 70 years. The policyholder will have to pay a premium for a period of 20 years. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.