LIC Jeevan Umang Policy: Earn ₹ 36,000 per annum for life by depositing only Rs 45

The LIC Jeevan Umang Policy launched by the Life Insurance Corporation of India (LIC) provides a unique opportunity to its customers. This policy provides insurance cover and a fixed income to the policyholders. If the policy holder invests in this policy plan, he will be exempted under section 80C of income tax along with an income premium of Rs. 2 lakhs sum insured will be received.

LIC Jeevan Umang Policy Information

LIC Jeevan Umang Policy is a special type of endowment policy that provides fixed income and insurance cover. The policy holder can enjoy the benefit of this policy for up to 100 years. The scheme is available to citizens above 55 years of age.

Scheme LIC Jeevan Umang Policy (LIC Jeevan Umang Policy in Gujarati)
by Insurance Companies Corporation of India
Year 2023
Citizens of the beneficiary country
Objective To provide life insurance benefits to citizens
Category Central Govt
Official website

LIC Jeevan Umang Policy Overview

LIC Jeevan Umang Niti 2023 was launched by LIC for all citizens of India. The application process is offline, and the policy is aimed at providing whole life cover. Under a range of central government schemes, the policy provides life cover and a pension amount to the policyholder.

LIC Jeevan Umang Policy Objective

The main aim of LIC Jeevan Umang Policy is to provide life protection insurance to its customers. A policyholder can get a fixed income after a few years with a security cover. A policy holder can purchase a policy for 15, 20, 25 and 30 years. After the maturity period, the policyholder will get the fixed amount in their account every year. If the policyholder dies before maturity, the policyholder’s nominee will get the lump sum.

In this way a pension amount of ₹36,000 will be received

After the policy matures the policy holder will receive a fixed income every year. The policy benefits are provided till the policyholder reaches 100 years of age. Eight percent of the policy is given to consumers every year. For instance, if a beneficiary pays Rs. 4.5 lakhs sum assured, in this case, the beneficiary will receive 8% of the sum invested as fixed income for 31 years, which is ₹36,000. 8% a year. Further, the amount of refund will be provided to the policyholder for 100 years, and the premium will be paid to them annually by the company in the 30th year in a lump sum.

LIC Jeevan Umang Policy Benefits

LIC Jeevan Umang policy has many advantages that make it a great investment for anyone looking for financial security. Some advantages of this policy are:

  • Life Cover: LIC Jeevan Umang policy provides the policyholder with life insurance cover for 100 years. If the policyholder dies before maturity, a lump sum is paid to the policyholder’s nominee.
  • Fixed Income: The policyholder can get fixed income of ₹36000 per annum with very little investment under this policy.
  • Pension: In old age, this policy provides a pension to the policyholder, and also provides income tax exemption under Section 80C of Income Tax.
  • Investment: This policy plan can be bought for 15 years, 20 years, 25 years and 30 years.
  • Revival: The policy can be revived for a period of 2 years from the date of first unpaid premium of the policy.
  • Tax Benefits: Income premium paid under this policy is exempted under Section 80C of Income Tax, and policyholders are exempted from maturity compensation under Section 10D.
  • Risk Coverage: LIC provides risk coverage to all policyholders till the end of the policy.
    An investment in LIC Jeevan Umang policy is a smart decision for anyone looking for a secure financial future. The policy offers fixed income, life insurance cover and tax benefits, making it the best investment for citizens above the age of 55 years. So, if you want to secure your future, invest in the LIC Jeevan Umang policy today!

How To Buy LIC Jeevan Umang Policy?

To buy LIC Jeevan Umang Policy, the applicant needs to fill the application form available at the LIC branch office. Application form can also be downloaded from LIC official website. The applicant needs to provide all the required information along with documents like ID proof, address proof and age proof. The applicant needs to pay the premium amount at the time of purchasing the policy

LIC Jeevan Umang policy.

The policy can be purchased for a tenure of 15 years, 20 years, 25 years or 30 years depending on the policy holder’s choice. On completion of the policy term, the policyholder can opt for the pension, which will be paid annually and the policyholder will also receive the maturity benefit.

This plan is beneficial for people above 55 years of age, and can be an excellent investment for those who want a secure retirement plan. By purchasing a policy, one can also avail tax benefits under Section 80C of the Income Tax Act.

LIC Jeevan Umang Policy is an excellent investment opportunity for senior citizens, offering a fixed income and insurance cover for life. The policy can be purchased for a term of 15, 20, 25 or 30 years and after the maturity period, the policyholder is paid a fixed income annually. The policy also provides the policyholder with life cover for 100 years.


In conclusion, LIC Jeevan Umang Policy is a wise investment decision for senior citizens and offers long term financial security, pension and tax benefits. Hence, individuals looking to invest for retirement years can consider investing in this policy.

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What is LIC Jeevan Umang Policy?

Ans: LIC Jeevan Umang Policy is a non-linked, with profit, whole life insurance plan that provides annual survival benefits and lump sum payment on maturity.

What is the policy term and premium payment term for LIC Jeevan Umang?

Ans: The policy tenure is up to 100 years, while the premium payment tenure is 15, 20, 25 or 30 years.

What are the benefits of LIC Jeevan Umang Policy?

Ans: This policy offers annual survival benefits, death benefit, maturity benefit and bonus, making it an attractive investment option for those who want a guaranteed income stream.

Can the policy be surrendered before maturity?

Ans: Yes, the policy can be surrendered before maturity, subject to certain conditions and surrender charges.

Who is eligible to buy LIC Jeevan Umang policy?

Ans: Anyone between 90 days and 55 years can buy this policy.

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