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LIC Jeevan Umang Plan (Table: 945) Maturity Calculator

Enter Your Age, Premium Paying Term (PPT) and Basic Sum Assured along with optional riders to generate illustration for you.

Related Article: How to plan retirement with LIC plans?

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Related Calculator: LIC Jeevan Umang Surrender Value Calculator

About Jeevan Umang (945) Maturity Calculator

In Jeevan Umang Policy, the premium needs to paid for 15, 20, 25 or 30 years depending on the term opted for. After the completion premium payment term, this policy provides 8% of Basic Sum Assured every year up to 99 years of policyholder’s age and maturity on completion of 100 years of age. In case of death before 100 years, nominee gets Death Sum Assured + Simple Revisionary Bonus + FAB. Policy is available for individuals who are between 0(90days) and 55 years old. Policy term depends upon age of the policyholder at the time of purchase and it is (100-age) at the time of purchase.

Premium Waive benefit (PWB) rider: Since this plan is available for minors too, premium waiver benefit rider is a value addition to this plan. A proposer can opt this rider to make sure that his/her minor child does not have to pay premium in his/her absence.

Accidental Death & Disability Benefit (AD & DB) Rider: One can pay additional premium and opt for AD& DB Rider if they are 18(or above) years of age. It would provide additional death claim amount in case of accidental death. For cases where accident causes permanent disability, all further premiums of the rider and base plan are waived off; and the Sum Assured amount would be paid in monthly installments over the next 10 years.

Comments & Reviews (31)

Wrote :

04-08-2022 00:09:21

Hi, i have a plan to take Jeevan Umang, yearly interested to pay 2L, i am 33 year old and want to pay rest 30 years, so total i will be paying 60L. Can you help with details that, if i want to surrender at an age of 64, how much i am going to get the amount. Also, i assume its Tax Free?? Plz confirm.

Wrote :

09-08-2022 14:53:47

Please use premium, maturity and surrender value calculators to calculate all associated benefits and features, in case of any further clarification, please write your query in the comment box. You need to find your sum assured mentioned on your policy document or you can calculate using premium calculator available on the site.

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Wrote :

18-07-2022 10:34:58

I have taken lic jeevan umang of basic sum assured 2,00,000 rs for premium paying term 15 Years so how much monet I will get if I withdraw money after 18 years

Wrote :

18-07-2022 14:26:12

It will be approximately 3.9Lakh. Please use following surrender value calculator to learn and calculate it yourself. https://www.insurance21.in/surrender-value-calculator/lic-jeevan-umang.html

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Wrote :

05-04-2022 11:09:55

Hi, Can you please explain the paid-up value of the policy. SA 20L, paid 6 half yearly premiums at 83,000 per premium. I have due date in another 10days but planning to stop payment and allow it to continue as paid-up policy. Needs inputs on what would be better, continue policy or invest in something else.

Wrote :

14-04-2022 23:54:45

In case of a paid-up policy, sum assured is reduced by a factor of total number of premiums paid/total number of premiums to be paid. Paid-up Maturity becomes available after completion of policy term and maturity amount will be equal to reduced sum assured + accrued bonus till the time the policy was in full force. Please note, for plan- 845, minimum years for which a policy must continue is 3 years and it is 2 years in case of 945.

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Wrote :

23-03-2022 21:29:39

After paying all premium and my last premium is due in 2046, so after last premium, can i withdraw? what benefit I will get on that time?

Wrote :

24-03-2022 22:15:46

Please use following calculator.

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

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Wrote :

15-03-2022 18:30:59

For opting AD & DB rider, for a SA of 5 Lakh, any medical test is obligatory for age below 35?

Wrote :

22-03-2022 23:19:14

No, for Accidental Death and Disability Rider, medical test is not required.

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Wrote :

14-02-2022 19:31:58

can the nominee be changed after marriage?

Wrote :

15-02-2022 23:47:46

Yes, it can be done.

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Wrote :

02-10-2021 07:43:55

I want to buy the jeevan umang, sum assured 2000000/- tax filing and medical exam is compulsory?

Wrote :

05-10-2021 15:21:26

Sources of income proof will be required (ITR is readily considered as income proof) and medical test requirement will depend upon your work profile. Medical tests are required in case of high sum assured.

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Wrote :

15-09-2021 14:48:59

I have a doubt.in case the policy holder dies at say 61 age. The nominee will receive 13,20,000 bonus + 45,00,000 of death cover i.e 58,20,000. And the yearly return of 96000 will continue or will it stop?

Wrote :

21-09-2021 23:10:43

After death, yearly survival benefit will stop.

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Wrote :

24-07-2021 14:25:18

I have go through all terms and conditions but could not satisfied about the right figure of return, moreover I have so many policies in your corporation in this regard I would like to request for this plan without agent commission can it possible ? As per my experience a major portion of premium goes to as agent commission which is our hard earn money, so my request is to corporation, those who are want to take new policy directly from you there should be a option for this type of customer.

Wrote :

28-07-2021 13:18:25

Sir, New Plans are available for online purchase without involvement of an agent and more and more plans are coming for online purchase. Regarding agent commission in sale and purchase of policies, suppose there are no agents and LIC employs permanent or even contractual personnel for selling and servicing of policies, you can think of cost involved in paying wages to those employees. Agents are involved in marketing, advertising and distribution of products of insurance companies and these cost have always been significantly high and eventually, is borne by non-other than consumers themselves. Agent model is practiced globally, but yes with advent of internet and eCommerce, businesses are changing their mode of operation and LIC too, is coming up with online plans. Please understand above is not official reply.

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Wrote :

14-06-2021 21:08:00

Every year Premium changes?

Wrote :

14-06-2021 23:14:18

No, premium does not change every year. The GST on insurance premium, which is charged by government change. Currently, GST on first year 4.5% and from second year, it is 2.25%.

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Wrote :

28-02-2021 22:12:04

My basic sum is 2500000 and it is for 20years. If I want to withdraw the whole amount after 20 years then what will be the amount?

Wrote :

03-03-2021 16:13:21

You need to use the Surrender Value Calculator of Jeevan Umang, please use it and in case of any further clarification, please write in the comment box.

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Wrote :

07-02-2021 10:59:04

As I understand I will get only 8% interest of my investment and my nominee will get all money back after death..is it so?

Wrote :

08-02-2021 07:58:28

It is 8% of the basic sum assured amount and in case of death of the policyholder, the nominee will get the basic sum assured + Bonus.

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Wrote :

06-02-2021 23:14:14

If the policy holder and the nominee dies at the same time, who will get the money?

Wrote :

08-02-2021 07:54:48

The legal heirs of the policyholder will get the death claim.

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Wrote :

01-02-2021 15:56:21

Every amount received by an insurance company by the policyholder is tax-free, whether it is survival benefit from money back plan, Jeevan Umang survival, any claim by death or maturity is tax-free, the only pension received by a pension plan is taxable. G. Sreehari 9849850098 Iciciprulife thank you

Wrote :

02-02-2021 00:47:55

Thanks for your input. Not every amount received from an insurance company is tax-free. For example, the maturity amount of a single premium plan is not tax-free. For non-single premium insurance plans, the annualized premium must be less than 10% of the absolute assured amount to be eligible for tax-free maturity.

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Wrote :

24-12-2020 15:11:52

Bonus which is showing every year could I get it every year?

Wrote :

25-12-2020 09:35:45

No accrued bonus is paid on maturity or along with death claim or part of bonus in case of surrender.

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Wrote :

22-12-2020 07:30:29

Sir I am going to be 55 in 2021 and my wife is 54 in 2021. I want to take policy by paying for 15 yrs for both of us can you please suggest the best policy for both of us to be beneficial at our old age.

Wrote :

28-12-2020 23:48:37

For 55 and 54 years of age, one should not take insurance policy. The prime objective of life insurance is to secure financial needs of depended in case of unfortunate demise of the earning member. Life insurance premium will be relatively very high for 55 years of age which in turn lead to less return. You can look for FD and low risk mutual fund (SIP) for saving if life insurance is not your purpose.

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Wrote :

05-12-2020 16:07:08

I am an unmarried woman If I die before policy expires then who will get my death claim . my mother or nominee

Wrote :

11-12-2020 09:04:31

At the time of purchase, you have to mention a person as a nominee and the person will be the beneficiary of the death claim. The nominee can be changed at any time during the policy term.

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Wrote :

06-11-2020 09:49:00

Your requirement does not suite for this plan. This whole life policy - will have benefit for long run. Your requirement will match with jeevan labh plan for best return

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Wrote :

23-09-2020 11:16:15

For child 8 years old, term is 25 but how many term actually we need to pay? We checked this online it shows in chart only 17 year for PPT.

Wrote :

23-09-2020 12:56:42

In this case, you will need to pay premium for 25 years (up to 33 years of child age).

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Wrote :

22-09-2020 17:27:40

I WANT TO KNOW WHAT WILL BE THE DIFFERENTIAL BONUS AFTER PPT PAID ON DEATH AFTER PPT .

Wrote :

23-09-2020 13:00:03

It is difficult to guess at present. Most probably, it will be available when sold policies complete PPT.

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Wrote :

13-08-2020 21:13:48

If we select 945-15 for SA 500000 along with ADDB rider. The calculation of your table is wrong.
It is showing 1030000 for normal death in first year. It should be Rs. 530000 only and after table also written that a additional amount of 500000 will be given in case of accidental death.

Wrote :

13-08-2020 22:21:53

Thanks for your feedback. Yes, it was an inadvertent mistake, it has been fixed now.

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Wrote :

05-08-2020 13:21:47

I want to invest in policy 945, for sum assured of 15 lac at premium of 1.15 lac per year for 15 years, what is the cover does one gets if he dies on the 25 th year after investing,[ age 24 years now]

Wrote :

05-08-2020 23:33:49

Above calculator shows year-wise policy death claim details, please user it and in case of any clarification write in comment box.

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Wrote :

26-07-2020 09:38:00

Maturity and death claim is non taxable. Survival benefit of 8 percent taxable.

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Wrote :

23-07-2020 15:25:00

If a person wants to surrender the policy after 20 years from purchase date and term also 20 years for 1000000. How much would be the surrender value. How it would be calculated?

Wrote :

28-07-2020 20:05:36

Yes, surrender can be done, please visit following calculator for calculating and learning about surrendering.
LIC Jeevan Umang (845 & 945) surrender value Calculator

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Wrote :

05-07-2020 22:55:51

Are the returns of 8% receiving every year tax free or it will be taxable..when person is alive ?? Also is the return after death of person is tax free or taxable too..??

Wrote :

05-07-2020 23:22:30

Both will be tax free.

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Wrote :

28-06-2020 02:09:24

I buy this policy but have a question if I want to close this policy in 20th year after paying 15 years full premium of 80000 approx. The sum assured is 10Lakh. Then what amount i can get?

Wrote :

28-06-2020 14:34:11

You are asking about surrender after premium paying term, please visit, following link to know and calculate it.
LIC Jeevan Umang (845 & 945) surrender value Calculator

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Wrote :

22-06-2020 04:18:36

Hi, if a person at 52 age, took policy 15yrs term & sum 12,00,000. person expires before the term, how death benefits will be to the nominee?

Wrote :

23-06-2020 16:32:23

In that case death claim will be 12,00,000 + Simple Reversionary Bonus (Bonus). Above calculator can be used to calculate year-wise approx death claim amounts.

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Wrote :

20-06-2020 23:00:09

Sir I am 38 years old and I want to buy this policy for my child who is 4 years old. while calculating the premium it shows PPT for 21 years if I selected PWB RIDER and not 30 years can you please clarify this. and is this compulsory that the proposal should be father and not mother.

Wrote :

21-06-2020 07:30:30

PWB rider term is 25- age of the minor policyholder. It means PWB is available up to age of 25 years only. Mother can also be proposer.

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Wrote :

17-06-2020 14:01:24

A person aged 51 years if takes this policy in favour of his 4 year old child and opts for Premimum Waiver Benifit Rider, what would be the premium paying term and till how many years the PWB Rider will be applicable? Till what age of the proposer and the policy holder, the PWB Rider benefit will be covered??

Wrote :

19-06-2020 20:20:48

Sir, for 4 year old policyholder, the premium paying term has to be 30 years for base policy. For PWB rider, term should be 25- age of the minor policy holder, it will 21 years in your case. But Premium Paying term of PWB rider + Age of the proposer should not exceed 70 years. In this your 21+51= 72 which is grater than 70, so you can't be proposer for him.

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Wrote :

11-05-2020 11:12:43

To understand year-wise death claim, suppose death happens in year 2034, by that policy year, total paid premium will be 1731240 and Normal Life Cover be 2880000. PLEASE JUST LET ME KNOW TOTAL HOW MUCH MY NOMINEE GETS?

Wrote :

12-05-2020 16:19:26

Death claim amount depends on the year in which death happens. It is different for different policy year. Please see year-wise approx. claim amount for each policy year.

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