LIC Jeevan Umang (845) Maturity Calculator

Maturity Calculator for LIC Jeevan Umang Plan (Table No: 845) illustrates year-wise paid premium, risk cover amounts, yearly survival benefits (Pension) & maturity amount on completion of policy term. This calculator is based on bonus of similar plan namely Jeevan Tarang (178). The objective of this calculator to illustrate benefits of this plan and calculated values are indicative.

Jeevan Umang (845) has been modified with effect from 01-Feb-2020, for new plan calculator go to Jeevan Umang (945) Maturity Calculator [Modified Plan].

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Comments & Reviews (37)

Wrote :

24-03-2022 13:38:08

For a Jeevan Umang policy, bearing 6500000 of sum assured, for 30 years of paying term at an age of 33, year of purchase 2022, if i want to surrender or close the policy at an age of 64, how much i will get as return,?? I am planning to pay yearly 2Lakh ??

Wrote :

24-03-2022 22:12:53

Please use following calculator to understand and calculate surrender value at various points during the policy term.

https://www.insurance21.in/surrender-value-calculator/lic-jeevan-umang.html

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Wrote :

25-09-2020 11:22:16

If payment of premier stopped after one year, how much amount refundable for 500000 sum assured.

Wrote :

29-09-2020 13:40:07

For any surrender value, the policy must complete 3 successful years.

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Wrote :

23-04-2020 07:43:35

Sir, rn2019 I took policy for 12,500,000 and understood after 15 years i will get yearly 10 Lakhs. If I could not pursue and paying only 3 years what will my yearly income and how the death benefit will calculate. Same if I pay 5 years what will be the yealy income.

Wrote :

23-04-2020 18:04:26

For any benefits, premium for first three years must be paid. After that you can go for surrender or paid up options. After 3 years, if you stop paying premium, the your policy will become paid up automatically and your benefit will be reduced by a factor of total no of premium paid/ total number of premiums to be paid. You can use surrender value calculator to know more, link is given below. Surrender value calculator of Jeevan Umang

Wrote :

16-04-2022 17:50:36

I have also purchased this plan and paying annually 24 Lakh of premium for 3 Crore of Sum assured. I am planning to pay only for 3 years and would opt for fully paid up options. As per your reply above, my sum assured would be 60 lakh. However, the presentation I have received from an LIC agent, the sum assured would remain at 1.15 Crore till 15 years and gradually it is increasing. I believe your reply above and presentation I have received are contradicting. Kindly advise.

Wrote :

17-04-2022 16:57:50

1. In Jeevan Umang, if first 3 years' premiums are fully paid and further premiums are not paid, then policy automatically becomes a paid-up policy and effective sum assured reduced by a factor of total number of premiums paid/ total number of premiums to be paid and accrued bonus during successful period (when policy was fully in-force) is attached to the policy and paid at the time of maturity or death along with reduced sum assured.
2. Your agent must be adding 3 years bonus to 60 Lakh to make it 1.15 crore.
3. As per plan feature, a paid-up policy is eligible for differential bonus after premium paying term (15 years in your case), that is what is he/she meant by gradually increasing sum assured.

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Wrote :

07-04-2020 19:35:43

Jeevan umang if surrender after 10 years?

Wrote :

10-04-2020 11:35:53

Please user following calculator to calculate it yourself.
LIC Jeevan Umang Surrender Value Calculator

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Wrote :

06-03-2020 23:22:09

Is there a option to reassign Jeevan Umang to spouse or children after few years of receiving the 8% of SA. Kindly clarify.

Wrote :

10-03-2020 17:25:51

If you mean giving 8% survival benefit to spouse or children, then the answer is no. 8% of survival benefit(money back) is available as long as policyholder is alive and credit to policy holder account only.

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Wrote :

14-12-2019 12:27:11

Is returns are yearly or monthly?

Wrote :

16-12-2019 22:43:08

The 8% survival benefit (money backs) are yearly.

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Wrote :

27-11-2019 11:31:57

Is it possible for me to surrender after the premium paying term (15 years)? what will be my surrender value?

Wrote :

27-11-2019 21:00:40

Yes, your surrender value will be 90% of (sum assured + accumulated bonus).

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Wrote :

28-10-2019 17:35:55

If X buys Jeevan Umang for 20 years for a Sum assured of 4000000. After 20 years X will get 320000 per annum as survival benefit. Consider a case if X dies 10 years after drawing 320000 each year. Then how much would be the death benefit? Is it just 4000000? Or 4000000+ Simple Revisionary bonus+ Final bonus? Or 4000000- 3200000=800000 ( where 3200000 is the amount already received in 10 years). Please advise.

Wrote :

29-10-2019 13:55:48

It will be 4000000+ Simple Revisionary bonus+ Final Addition Bonus.

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Wrote :

23-09-2019 19:41:19

I HAVE TAKEN THIS PLAN IN 2017 FOR SUM ASSURED 650000 AT THE AGE OF 40. BUT I WANT TO KNOW THAT AFTER MATURITY IF I DON'T WANT 8% OF THE SUM ASSURED AND I WANT TO TAKE THE FULL MATURITY AMOUNT. CAN I GET MY MATURITY. ALSO 8% OF SUM ASSURED IS NOT MENTIONED ON THE POLICY BOND ANYWHERE. IS THERE A CHANCE TO BE CHEATED.

Wrote :

24-09-2019 17:53:58

After completion of premium paying term, there is a provision of survival benefit which is equal to 8% of the BSA per year. You can find its mention as survival benefit under Part-C on your policy document. Following text has been reproduced from policy document.

"Survival Benefit: On the life assured surviving to the end of the premium paying term, provided all due premiums have been paid, a survival benefit equal to 8% of Basic Sum Assured shall be payable each year. The first survival benefit payment is payable at the end of premium paying term and thereafter on completion of each subsequent year till the Life assured survives or till the policy anniversary prior to the date of maturity, whichever is earlier. "

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Wrote :

18-07-2019 08:30:31

8% Survival benefit is under 10(10d) or not.

Wrote :

18-07-2019 09:15:09

8% Survival Benefit will be tax free.

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Wrote :

02-07-2019 17:56:51

is it covered 80c tax deductions?

Wrote :

05-07-2019 12:03:50

Yes, paid premium is exempted under 80c.

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Wrote :

28-01-2019 23:12:26

Sum asurd 500000. If surrender after 3 yrs hou mch i will get?

Wrote :

29-01-2019 23:14:13

Approximately, 30-40% of total premium paid.

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Wrote :

17-12-2018 22:50:07

100% perfect plan for future.... for family...

Wrote :

10-02-2019 13:00:48

But it is not guaranteed plan. In policy Bond it is clearly mentioned that it is not guaranteed and payout and maturity depends on LIC india's performance. I had guaranteed plans of TATA AIA Life. You can contact me for further enquiry.

Wrote :

10-02-2019 13:44:34

8% of Sum assured per year after completion of premium paying term is guaranteed.

Wrote :

26-01-2020 20:13:36

Tata AIA is taking your insurance at the age of 100? Lic is taking a Risk of your life.

Wrote :

27-01-2020 14:15:30

We are not informed about AIG plans.

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Wrote :

07-12-2018 14:39:59

Sir, what is your opinion about LIC Leader app? Is this app is suitable to understand about premium, return, insurance?

Wrote :

08-12-2018 13:49:46

We do not know this app.

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Wrote :

22-09-2018 12:20:24

As per Jeevan Umang plan if any body doesn't want 8 per cent of sum assured as a pension then what will be the maturity amont for him. Sum Assured amount 2 lac and age 35 yrs, tenure 16 yrs.

Wrote :

22-09-2018 13:40:45

There is no such option of not taking 8% payouts.

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Wrote :

18-09-2018 16:40:30

As per plan brochure, on maturity customer will get basic sum assured and Loyalty addition but your BI showing death benefit on maturity plus loyalty bonus. The calculation of loyalty bonus is different then simple bonus calculation. No simple bonus in this plan available.

Wrote :

18-09-2018 21:05:04

Sir, there is no loyalty addition in Jeevan Umang plan. Please read about it from official website. Here is the LINK.

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Wrote :

19-07-2018 19:59:41

What will be the maturity amount after completion 33 years

Wrote :

20-07-2018 13:20:44

For maturity you need to have sum assured, please find it and use maturity calculator for approx values.

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Wrote :

20-04-2018 20:10:23

what will be the monthy premium to be paid for 100000 sum assured

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Wrote :

25-03-2018 12:21:22

In the above illustration, life cover is getting increased by each year, and what is its basics?

Wrote :

26-03-2018 19:35:57

It is because, death claim equals to death sum assured + accumulated bonus. The bonus gets added every year, this is why it is increasing every year.

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Wrote :

06-01-2018 13:04:12

Sir If spelling mistake done by Lic in newly buy policy bond paper then what to be done? Please suggest

Wrote :

06-01-2018 13:29:03

Contact your branch as soon as possible to get it corrected.

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Wrote :

05-01-2018 20:23:01

What about GST on premium to be paid and who will paid means customer or LIC

Wrote :

05-01-2018 23:27:28

GST will be paid by Policy holder along with his/her premium.

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Wrote :

24-12-2017 19:45:01

This is best plan for young age no required other policy in future because after maturity till 100 yrs life risk increase every year after 100% tax free @ 8% return. end of the life nominee will get huge amount.

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Wrote :

27-10-2017 12:00:40

Recently i have purchased Jeevan umang policy for the 15 years terms. I am 47 now. Sum assured is 1500000.00. I have paid yearly premium of Rs. 120000/- for the above policy. But in my policy document three different premiums have been shown : Instalment premium - 115416/- Total premium - 117366/- Instalment premium for rider - 1950/- Please let me know the correct figure of instalment i have paid and in future how much premium i have to pay?

Wrote :

27-10-2017 12:09:17

Your premium is with accidental & disability rider. Please use above calculator without selecting rider option and learn more about your premium.

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Wrote :

14-10-2017 13:18:46

I am planning to purchase LIC jeevan Umang Policy --- 15years SA- 9L Age 30 years please explain benefits and pension and lumpsum am going to get after 15 years. Can i purchase through online and pay premium through online... What is the procedure.... Please explain

Wrote :

15-10-2017 12:23:34

Please use above calculator to generate approx benefit illustration of survival benefits, yearwise life cover and maturity. This plan is not available for online purchase but once policy issued, subsequent premiums can be paid online.

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Wrote :

22-09-2017 20:27:47

I am taking 15 years plan after that ,if I don't want pension then can I get my maturity and total amount......please give me reply

Wrote :

22-09-2017 20:53:24

As per plan feature, it will not provide such option.

Wrote :

24-11-2017 17:01:07

The purpose of this plan is to provide you pension. However, if you would like to get maturity for this plan, you will be able to get full maturity amount after the age of 70 years.

Wrote :

26-11-2017 11:18:21

Is it mentioned somewhere?, if yes, please let us know.

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Wrote :

07-09-2017 18:18:57

Good plan for those who are working in private sector because they have no pension after retirement. Now a days Young people are not doing anything for their future. so this is good plan for save something for their own future expns after 60. suggesting buy this plan as early as possible.

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Wrote :

21-08-2017 07:16:03

If i take this policy for my children having 7 years age, is that PWB available??

Wrote :

21-08-2017 10:52:11

PWB is not available with this plan.

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Wrote :

10-08-2017 17:34:55

hi, in your above calculator premium for 32 age & 45 age is showing same. How it it?

Wrote :

11-08-2017 09:45:31

Premium without rider will be same for both the ages for 15 years term.

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Wrote :

07-07-2017 09:20:42

If suppose I buy plan in 01/08/2017 and I choose 15 year premium can I get 8% SA on 02/08/2018 or I get after completion of 15 years.

Wrote :

07-07-2017 13:51:17

8% of sum assured will start after premium paying term i.e. 15 years in your case.

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Wrote :

20-06-2017 21:56:47

Can you give security for monthly returns after 15 years payment, but in lic many persons told me that we are not receiving the amount as per you said.

Wrote :

20-06-2017 22:11:33

We are nobody to give security of return, above calculator is just for explanation of plan benefits. As far as benefits are concerned, this plan will not provide monthly return after 15 years (assuming 15 as premium paying term). This plan will provide 8% of sum assured every year up to 99 year of age or death which ever is earlier. On maturity at 100 year of age or in case of death before 100 year of age, plan will provide maturity or death claim which will be equal to sum assured + Bonus + FAB.
This plan is launched last month, so, there is no possibility of receiving return as minimum year before getting return or any amount is 15 years.

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