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.
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.
Replied : 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.
Wrote : 01-06-2017 23:28:36
I don't think there is any maturity as lumpsum after the premium payment term is over., I.e, on 16th year. of course they get regular bonus paid from 16th till the path year or death which ever is earlier. please clarify.
Replied : 02-06-2017 10:40:44
Here is plan feature text from LIC website:
On the life assured surviving to the end of the policy term, provided all due premiums have been paid, "Sum Assured on Maturity" along with vested Simple Reversionary Bonuses (as mentioned in 2 below) and Final Additional bonus, if any, shall be payable. You may read more at following link.
Wrote : 18-05-2017 22:53:02
What will be the maturity amount after the premium term completion.
Replied : 19-05-2017 08:19:57
Maturity will not occur on completion of premium paying term, maturity will happen at 100 year of age. On completion of premium paying term, yearly amount equal to 8% of sum assured will be provided up to 99 year of age.
Wrote : 16-05-2017 12:19:27
on completion of policy term, Basic Sum Assured + Simple Reversionary Bonus +FAB will paid as maturity claim........and what about Pension
Replied : 16-05-2017 13:13:05
This plan provides Survival Benefit or pension @8% of sum assured per Year from next year of premium paying term completion till 99 year of age and on completion of 100 years, policy will provide maturity.