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LIC Jeevan Umang Policy: Get Rs 36,000 pension by saving Rs 45 daily. Here’s how
It is a non-linked, participating, individual, whole life assurance plan that provides income and protection to the family of the insured.
In this case, your annual premium will be Rs 15,882 and your premium payment will be Rs 47,6460 after 30 years.
After 30 years of consecutive premium payments, LIC will start crediting Rs 36,000 annually as a return on your investment in the 31st year. If the policyholder continues to earn the Rs 36,000 yearly return from the 31st year of investing until the age of 100, they would have collected a total of Rs 36 lakh.
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Benefits, other details of the plan
In case of the tragic death of the policyholder before the age of 100, the nominee mentioned by them will receive a lump sum payment, which they can take in installments if they prefer.
If the policyholder lives to be 100 years old or until the end of the premium-paying period, a survival benefit equal to 8 per cent of the Basic Sum Assured will be paid each year if the policy is still in existence.
The premium terms for the Jeevan Umang policy are 15 years, 20 years, 25 years, and 30 years.
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