LIC of India new plan launched on 1st. February, 2020 which name is LIC Jeevan Umang 945 (LIC Table no. 945) is a non-linked, with-profits whole life assurance plan. This plan provides for annual survival benefits from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on death of the policyholder during the policy term. It has been decided to introduce LIC Jeevan Umang 945 (Table No 945) with effect from 1st. February, 2020. The Unique Identification Number UIN for LIC Jeevan Umang 945 is 512N312v02. The benefits and other details of the plan are given below.
Key Features
- Plan for a term of 100 years
- 8% of Sum Assured is paid at the end of the policy term as money back
- Simple Reversionary Bonus is payable on maturity or earlier death
- Large Sum Assured is available in this plan
- LIC Accidental Death Disability Benefit Rider, PWB Rider, Critical illness and Term Rider is available
- Paid premiums are exempted from income tax under 80C and Maturity amount is tax free under 10 (10D)
LIC Jeevan Umang Plan 945 Parameter
| AGE AT ENTRY | 90 Days (Completed) |
|---|---|
| PREMIUM PAYING TERM (PPT) | 15, 20, 25, & 30 Years |
| MAXIMUM AGE AT ENTRY IN YEARS (NEAREST BIRTHDAY) |
|
| 55 for 15 PPT | |
| 50 for 20 PPT | |
| 45 for 25 PPT | |
| 40 for 30 PPT | |
| AGE AT MATURITY | 100 Years (Nearest Birthday) |
| POLICY TERM | 100 – Age at Entry |
| BASIC SUM ASSURED | 2,00,000 and above in multiples of 25,000 |
| PREMIUM PAYING MODE | Yearly, Half Yearly, Quarterly & Monthly (SSS and NACH Only) |
| PREMIUM PAYMENT MODE REBATE | 2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly |