LIC's Jeevan Umang (Plan No. 945, UIN No. 512N312V02) is a participating, non-linked, with-profit endowment plan that offers a combination of life insurance coverage and guaranteed income. Here's a summary of its key features:

Key features:

  • Guaranteed annual survival benefit (ASB): Receive 8% of the sum assured every year after the premium paying term until maturity or death.
  • Lump sum maturity benefit: Upon policy maturity, you receive the sum assured along with any accrued bonuses.
  • Death benefit: In case of unfortunate death during the policy term, your nominee receives the sum assured plus any accrued bonuses.
  • Participating plan: Eligible for Simple Reversionary Bonus (SRB) and Final Addition Bonus (FAB), which can significantly increase your payout.
  • Flexible premium payment terms: Choose a premium paying term of 5, 10, 15, or 20 years.
  • Minimum sum assured: Rs. 2 lakhs, with no maximum limit.
  • Policy term: Whole life

Additional details:

Please let me know if you have any specific questions about LIC's Jeevan Umang plan or need help understanding its features and benefits in more detail. I'm happy to assist you further.