The biggest feature of this policy is that the policyholder gets a cover till the age of 100 years. On maturity or on the death of the policyholder, his family is given a lump sum. People from 90 years to 55 years of age can invest in it.
It is considered safe to invest in Life Insurance Corporation of India (LIC). LIC is one of the most trusted and largest insurance company in the country. If you are planning to invest in a policy of LIC, then you can choose ‘Jeevan Umang’.
The biggest feature of this policy is that the policyholder gets a cover till the age of 100 years. On maturity or on the death of the policyholder, his family is given a lump sum. People from 90 years to 55 years of age can invest in it.
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The premium paying term i.e. PPT is fixed for 15, 20, 25 and 30 years. By the end of the premium, all installments have been paid, so the policy holder is guaranteed a minimum amount. 8 per cent of life insurance returns are for a lifetime. Small investment in this policy provides money for life.
You can invest Rs 28 daily in this policy, you can get a return of Rs 26,16,250, understand by example: –
Age: 20
Term: 79
PPT: 25
AD and DAB: 250000
Death Sum Assured: 250000
Basic Sum Assured: 250000
First Year Premium with 4.5% Tax: –
Annual: 10568 (10113 + 455)
Half Yearly: 5337 (5107 + 230)
Quarterly: 2694 (2578 + 116)
Monthly: 898 (859 + 39)
YLV Mode Average Premium / Daily: 28
With 2.25% tax after first year premium: –
Annual: 10341 (10113 + 228)
Half yearly: 5222 (5107 + 115)
Quarterly: 2636 (2578 + 58)
Monthly: 878 (859 + 19)
YLV mode average premium / per day : 28
Total Estimated Premium Payable: 2,58,752
Estimated Return from 45 to 100 years of age or till lifetime survival: Rs 20,000
Estimated Return till Survival of 100 years
SA: 25,00,00
Total Bonus: 23,66,250
Estimated Return till 100 years of age: 26,16,250
Suppose a person who is 20 years of age and opts for the 25 year premium paying term plan (79 years term) option, will have to pay a total premium of 2,58,752. During this time period, the policyholder will get a total estimated return of Rs 26,16,250 on investing Rs 28 daily. After paying the premium for 25 years, from the age of 45, 8% of this amount will be given every year for lifetime, which will be Rs 20,000 annually.
