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LIC Jeevan Umang Policy: Get Rs 94 lakh daily investment of Rs 199, learn details

In the event of the death of the policyholder, the family is given a lump sum amount i.e. the premium paid on the death of the policy holder is returned to the nominee. The premium paying term in this policy is 15, 20, 25 and 30 years.

Investing in Life Insurance Corporation of India (LIC) is considered quite beneficial. If you are planning to invest without risk, then you can invest in LIC’s ‘Jeevan Umang’ policy. If you want to do financial planning then you can get a big return by investing in this policy.

It is an endowment plan and can be purchased for people between 15 years to 55 years of age. The specialty of this scheme is that it provides cover up to the age of 100 years. In the event of the death of the policyholder, the family is given a lump sum amount i.e. the premium paid on the death of the policy holder is returned to the nominee. The premium paying term in this policy is 15, 20, 25 and 30 years.




At the end of the premium, the policyholder is paid a minimum amount with a guarantee after the entire installment is paid. That is, if you deposit all the installments at the right time, then you will continue to get returns after paying all the installments. 8% of the insurance returns will be available every year for life.

You can invest Rs 199 daily in this policy with a return of Rs 94,72,500, understand by example: –

Age: 25

Term: 74

PPT: 15

AD and DAB: 900000

Death Sum Assured: 900000

Basic Sum Assured: 900000

First Year Premium with 4.5% Tax: – 

Annual: 74388 (71185 + 3203)

Half Yearly: 37572 (35954 + 1618)

Quarterly: 18975 (18158 + 817)

Monthly: 6325 (6053 + 272)

YLV Mode Average Premium / Daily: 203

With 2.25% tax after first year premium: – 

Annual: 72787 (71185 + 1602)

Half yearly: 36763 (35954 + 809)

Quarterly: 18567 (18158 + 409)

Monthly: 6189 (6053 + 136)

YLV mode average premium / per day : 199

Total Estimated Premium Payable: 10,93,406

Estimated Return from 40 to 100 years of age or till lifetime survival: Rs 72,000 annually

Estimated Return till Survival of 100 years

SA

: 90,00,00 Total Bonus: 85,72,500

Estimated Return till 100 years of age: 94,72,500

Suppose a person who is 25 years of age and chooses the 15 years premium paying term plan (74 years term) option, then he has to pay a total premium of 10,93,406. During this time period, the policyholder will get a total estimated return of Rs 94,72,500 on an investment of Rs 199 daily. After paying the premium for 15 years, from the age of 40, 8% of this amount will be given every year for lifetime, which will be Rs 72,000 annually.

Also Read: LIC Jeevan Umang Policy can invest Rs 28 per day for Rs 26 lakh, know full plan

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ praveshmaurya24@gmail.com
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