LIC Jeevan Umang 945

By | March 25, 2021

LIC Jeevan Umang 945, Benefits, Features, parameter and Review full details.


LIC Jeevan Umang 945, Benefits, Features, parameter and Review.

LIC Jeevan Umang 945
LIC Jeevan Umang 945

LIC of India new plan launched on 1st. February, 2020 which name is LIC Jeevan Umang 945 (LIC Table no. 945) is a non-linked, with-profits whole life assurance plan. This plan provides for annual survival benefits from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on death of the policyholder during the policy term.

It has been decided to introduce LIC Jeevan Umang 945 (Table No 945) with effect from 1st. February, 2020. The Unique Identification Number UIN for LIC Jeevan Umang 945 is 512N312v02. The benefits and other details of the plan are given below.

Key Features


  • Plan for a term of 100 years
  • 8% of Sum Assured is paid at the end of the policy term as money back
  • Simple Reversionary Bonus is payable on maturity or earlier death
  • Large Sum Assured is available in this plan
  • LIC Accidental Death Disability Benefit Rider, PWB Rider, Critical illness and Term Rider is available
  • Paid premiums are exempted from income tax under 80C and Maturity amount is tax free under 10 (10D)

LIC Jeevan Umang Plan 945 Parameter

Age at Entry90 Days (Completed)
Premium Paying Term (PPT)15, 20, 25, & 30 Years
Maximum Age at Entry in Years 
(Nearest Birthday)
55 for 15 PPT
50 for 20 PPT
45 for 25 PPT
40 for 30 PPT
Age at Maturity100 Years (Nearest Birthday)
Policy Term100 – Age at Entry
Basic Sum Assured2,00,000 and above in multiples of 25,000
Premium Paying ModeYearly, Half Yearly, Quarterly & Monthly (SSS and NACH Only)
Premium Payment Mode rebate2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly

Also Read ThisLIC’s Best Money Back Plan

Rebates in LIC Jeevan Umang Plan 945

Rebate means discount on premium. Two rebates in this policy one is Mode Rebate and another is Sum Assured Rebate.

Mode Rebate: Rebate given based on premium payment mode chosen.

Premium Payment ModePercentage(%)
Yearly Mode2%
Half yearly Mode1%
Quarterly and MonthlyNil

High Sum Assured Rebate: High Sum assured Rebate Based on Sum assured means Policy Value.

Basic Sum Assured (BSA)Rebate per Rs. 1000 /- S.A.
Rs. 2,00,000 to Rs. 4,75,000NIL
Rs. 5,00,000 to Rs. 9,75,0001.25 % of (B.S.A)
Rs. 10,00,000 to Rs. 24,75,0001.75 % of (B.S.A)
Rs. 25,00,000 and above2 % of (B.S.A)

Benefits

Maturity Benefits

LIC Jeevan Umang 945 Maturity Benefit = Sum Assured on Maturity + Vested Simple Reversionary Bonuses + Final Additional Bonus (FAB).

Survival Benefits

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.

  • Sum Assured on Maturity: On Survival to the end of the policy term, Sum Assumed on Maturity, Vested Simple Reversionary Bonuses, and Final Additional Bonus if any will be paid.

Accidental and Disability Benefit Rider

LIC’s Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional. This rider can be opted for at any time within the premium paying term of the Base Plan provided the outstanding premium paying term is at least 5 years. The benefit cover under this rider shall be available upto the policy anniversary on which the age nearer birthday of the Life Assured is 70 years. Thereafter the cover shall cease.

If this benefit is opted for, an additional amount equal to the Accident Benefit Sum Assured is payable on death due to accident, provided the rider is inforce at the time of accident. In case of accidental permanent disability (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly installments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

The premium for the portion of Basic Sum Assured which exceeds the Accident Benefit Sum Assured and premium(s) in respect of other Rider(s), if opted for, shall continue to be paid. If the policy becomes a claim by way of death before the expiry of the said period of 10 years, the disability benefit instalments which have not fallen due will be paid along with the claim amount.

  • The premium for this rider will not be required to be paid after the premium paying term of the base plan.
  • LIC’s Accidental Death and Disability Benefit Rider shall not acquire any paid-up value and the rider benefit will cease to apply, if policy is in lapsed condition.

Death Benefits

LIC Jeevan Umang 945 Death Benefit = Sum Assured on death + Vested Simple Reversionary Bonuses + Final Additional Bonus (FAB).

  • Sum Assured on Death : On the death of the policyholder during the policy term, Sum Assured on death, Vested Simple Reversionary Bonuses, and Final Additional Bonus will be paid.
  • Sum Assured on Death is 7 times higher than the annualized premium.
  • Death Benefit : The Death Benefit shall not be less than 105% of the total premium paid as on death.

Read also : LIC new Jeevan Anand plan 915 lifetime plan

LIC Jeevan Umang Plan 945 Surrender, Loan and Paid-up value.

LIC Jeevan Umang Plan 945 Surrender, Loan and Paid-up value details is given below.

Surrender period : Policy can be surrender after 2 years at least 2 full years payment of premiums.

Loan Facility : Loan facility is available under LIC Jeevan Umang plan 945, after at least 2 full years of premium paid.

Paid-up value : Once a LIC Jeevan Umang Plan 945 policy has completed minimum 2 full years and more premiums paid, and policyholder chooses to stop paying further premiums, it automatically becomes eligible for paid-up value.

Paid-up value formula

Paid-up value = Sum Assured * Total number of premiums paid/Total number of premiums to be paid

LIC Jeevan Umang Plan 945 with an Example

An example of Ravi who is purchasing this Plan with following details.

Sum Assured (Rs.)10,00,000
Age (Years)30
Policy Term(Years)25 (Option -3)
Premium Paying Term25
Purchase Year2020
Yearly Premium1st. yrs (40594), 2nd yrs. (39720) onward

As per above example, policy holder needs to pay the premium of Rs. 40,594 1st. year and Rs. 39,720 2nd year onward every year for 25 years (Premium Paying Term) and after completion of 25 years ( Premium Paying Term ). The benefits (Survival & Year-wise death claims and maturity) related to this plan is given below.

Maturity Details

If Policy holder survives 100 years, then Maturity (Sum Assured + Bonus +FAB) will be as under.

Maturity YearAge at MaturityTotal Premium PaidMaturity Amount (Approx.)
20901009,93,87481,50,000

Death Claim Details

In case of death during policy term ( Before 100 years ), Sum Assured + Bonus + Final Addition Bonus (Normal Life Cover) will be paid to nominee. In case of accidental death, additional amount equal to Sum Assured along with Sum Assured + Bonus + Final Addition Bonus (Accidental Life Cover) will be paid to nominee. Year-wise and Age-wise Normal Life Cover and Accidental Life Covers will be as follows.

How to Understand given below Table?

According to below table, the policyholder is require to pay premium for 25 years and once this premium paying term of 30 years completed, the policy holder starts receiving 80,000 (8% of BSA) per year up to his 99 years of age and on completion of 100 years of age or completion of policy term maturity will be paid.

Following table provides age-wise normal risk cover and accidental risk cover , survival benefits (money back) and maturity.

AgePremiumRisk Cover (Approx)Acc. Risk Cover (Approx))

Money Back

304059410500002050000 
313972011000002100000 
323972011500002150000 
333972012000002200000 
343972012500002250000 
353972013000002300000 
363972013500002350000 
373972014000002400000 
383972014500002450000 
393972015000002500000 
403972015500002550000 
413972016000002600000 
423972016500002650000 
433972017000002700000 
443972017700002770000 
453972018250002825000 
463972018800002880000 
473972019350002935000 
483972020000003000000 
493972020700003070000 
503972021500003150000 
513972022500003250000 
523972024000003400000 
533972025500003550000 
543972027000003700000 
553972028500003850000 
56 3020000402000080000
57 3190000419000080000
58 3360000436000080000
59 3600000460000080000
60 3850000485000080000
61 4150000515000080000
62 4750000575000080000
63 5050000605000080000
64 5350000635000080000
65 5650000665000080000
66 5950000695000080000
67 6250000725000080000
68 6550000755000080000
69 6600000760000080000
70 6650000765000080000
71 6700000670000080000
72 6750000675000080000
73 6800000680000080000
74 6850000685000080000
75 6900000690000080000
76 6950000695000080000
77 7000000700000080000
78 7050000705000080000
79 7100000710000080000
80 7150000715000080000
81 7200000720000080000
82 7250000725000080000
83 7300000730000080000
84 7350000735000080000
85 7400000740000080000
86 7450000745000080000
87 7500000750000080000
88 7550000755000080000
89 7600000760000080000
90 7650000765000080000
91 7700000770000080000
92 7750000775000080000
93 7800000780000080000
94 7850000785000080000
95 7900000790000080000
96 7950000795000080000
97 8000000800000080000
98 8050000805000080000
99 8100000810000080000
100Maturity81,50,000

LIC Jeevan Umang Plan 945 additional information

Revival : Policy should be revived before 5 years from last unpaid premiums.

Loan Facility : Loan facility is available under LIC Jeevan Labh plan, after at least 2 full years payment of premiums.

Riders Facility : Accidental Death and Disability Benefit Rider, critical illness, PWB, and Term Assurance Rider is available.

Suicide Clause : If Policy Holder Committed Suicide within 12 month from date of taking the policy 80% of paid premium will be returned back. If committed suicide after 1 year. Full Sum assured + Bonus will be paid by LIC to their nominee.

Cooling off Period : Policy holder can return back policy within 15 days from date of receiving the policy.

Date Backing Facility : Available after 2 years premium paid.

Proposal Form : Form No. 300, 340 and 360.

LIC others Endowment plans

LIC new endowment plan 914
LIC new jeevan anand plan 915

अधिक जानकारी के लिए कृपया संपर्क करें:

बास्पा नंद पंचोली
संपर्क सूत्र-: 9891009400
Email-basupancholi@gmail.com
कार्यालय का पता:-
25, केजी, मार्ग, जीवन प्रकाश भवन
भारत का एलआईसी, शाखा इकाई 117 तीसरा तल,
सी.पी. नई दिल्ली -110001

I hope “LIC Jeevan Umang New Plan 945” के बारे में ये जानकारी अच्छी लगी होगी, अगर हाँ तो इसे अपने सभी Friends के साथ Social media पर Share जरुर करें ताकी आपकी मदद से दुसरे लोग भी इस योजना की जानकारी को पढ़ सकें, और वो इसका लाभ ले सके, कोई ऐसी जानकारी रह गयी हो और आप जानना चाहते हो तो आपके सुझाव व प्रस्ताव स्वीकार्य हैं और नीचे दिए गए comment box में टिप्पणी भी अवश्य दें! धन्यवाद…….

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