LIC Jeevan Umang policy: LIC is the India’s leading insurance provider for a reason that it offers customised plans for everyone. It allows people to grow their money while remaining financially secure in the event of an unexpected death. LIC has been an excellent support system for the average middle-class person who does not want to expose themselves to the risks of the mutual fund market. The LIC Jeevan Umang policy is an example.
The LIC Jeevan Umang policy is an excellent Life Insurance Corporation of India policy. It produces good results. It also assists people in increasing their retirement savings. The LIC Jeevan Umang Plan provides insurance coverage for up to 100 years.
After the policy matures, 8 percent is returned. Bonuses are also given upon maturity and death. The policy’s premium can help you save taxes under Section 80C. The maturity amount is exempt from income taxes. This policy is available to people aged 90 days to 55 years. People receive a lump sum payment upon reaching maturity. Following that, you will receive a yearly fixed income. This provides 100 years of life insurance. When the policyholder dies, his nominee will receive a lump sum payment as death benefits.
If you pay a monthly premium of Rs 1302, you will have invested Rs 15298. If you put this money aside for 30 years, it will be worth Rs 4.78 lakh. After the 31st year, you will receive Rs 40,000 per year. This means you will get Rs 27.60 lakh.
The guaranteed minimum sum is Rs 2 lakh.
This policy embodies the LIC’s motto, “Zindagi ke saath, zindagi ke baad!”
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Today life is so uncertain and everyone is in deep stress to make future good for them, their family. Insurance plans play key role in securing future and relieves stress as well.
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