Jeevan Umang

This plan is well-suited for individuals looking for savings and retirement planning. It guarantees a tax-free income of 8% of the sum assured for the entire lifetime. In addition, it provides life coverage for the lifetime of the policyholder. Customers can enjoy tax-free maturity benefits under this plan, which include bonuses and the sum assured. There is an option to add Accidental Life cover, Disability Benefit, and Critical illness cover to the plan. For minors, this plan also offers the benefit of premium waiver in case of the parent’s death. Policyholders have the flexibility to choose the death benefit in installments. LIC provides premium discounts for policyholders who opt for yearly mode of payment. Furthermore, after completing one year of the policy, the policyholder can avail a loan against the policy.