LIC Jeevan Umang: A Comprehensive Guide for Financial Security

Are you looking for a life insurance plan that offers both protection and savings? Look no further than LIC Jeevan Umang! As the best LIC agent in Kolkata, I’m excited to share everything you need to know about this fantastic policy.

Key Takeaways

• LIC Jeevan Umang offers lifetime coverage with regular income benefits
• Choose from flexible premium paying terms to suit your financial planning
• Enjoy the potential for increased returns through bonuses
• Benefit from tax advantages on premiums and benefits
• Consult with a trusted LIC agent for personalized advice

What is LIC Jeevan Umang?

LIC Jeevan Umang is a non-linked, participating, individual, whole life assurance plan that provides a unique combination of income and protection for your family. It’s designed to offer financial security throughout your lifetime and beyond.

Key Features:

• Lifetime Coverage: Protection up to 100 years of age
• Regular Income: Annual survival benefits after the premium paying term
• Flexibility: Choose from multiple premium paying terms
• Bonuses: Participate in the profits of LIC
• Tax Benefits: Enjoy tax advantages under existing tax laws

Why Choose LIC Jeevan Umang?

1. Long-term Financial Security LIC Jeevan Umang offers coverage for your entire lifetime, ensuring that your family remains financially protected even in your absence.
2. Regular Income Stream After the premium paying term, you’ll receive annual survival benefits, providing a steady income during your retirement years.
3. Customizable Options With various premium paying terms to choose from, you can select the option that best fits your financial planning.
4. Participation in Profits As a participating policy, LIC Jeevan Umang allows you to benefit from the company’s profits through bonuses.
5. Loan Facility Need funds for an emergency? You can avail a loan against your policy after paying premiums for two years.

How Does LIC Jeevan Umang Work?

Let’s break down the policy structure:

1. Premium Paying Term: Choose from 15, 20, 25, or 30 years
2. Policy Term: (100 – age at entry) years
3. Survival Benefits: 8% of Basic Sum Assured paid annually after the premium paying term
4. Maturity Benefit: Basic Sum Assured + Vested Bonuses + Final Additional Bonus (if any)
5. Death Benefit: Higher of 7 times the annualized premium or Basic Sum Assured + Vested Bonuses + Final Additional Bonus (if any)

“LIC Jeevan Umang is like a financial safety net that grows with you over time.” – Somenath Naskar, LIC Agent in Kolkata

Who Should Consider LIC Jeevan Umang?

• Young professionals looking for long-term financial security
• Parents planning for their children’s future
• Individuals seeking a combination of insurance and savings
• Those looking for a steady income stream post-retirement

Sample Premium Illustration

Here’s an example to help you understand the potential benefits:

Age at Entry	Policy Term	Premium Paying Term	Basic Sum Assured	Annual Premium (excluding taxes)
25 years	75 years	30 years	₹5,00,000	₹14,758

Note: This is a sample illustration. Actual premiums may vary based on individual factors.

Bonuses and Benefits

LIC Jeevan Umang offers various types of bonuses:

• Simple Reversionary Bonuses: Declared annually during the premium paying term
• Final Additional Bonus: May be payable on maturity or death
• Cash Bonus: For fully paid-up policies after the premium paying term

These bonuses can significantly enhance the overall value of your policy over time.

Tax Benefits

Under current tax laws, you may be eligible for:

• Tax deductions on premiums paid under Section 80C
• Tax-free survival and maturity benefits under Section 10(10D)

Always consult a tax advisor for the latest information on tax benefits.

How to Get Started with LIC Jeevan Umang

1. Assess Your Needs: Determine the coverage amount and premium paying term that suits your financial goals
2. Contact an LIC Agent: Reach out to a trusted LIC agent (like myself!) for personalized guidance
3. Document Preparation: Gather necessary documents like ID proof, address proof, and income proof
4. Application Submission: Fill out the application form and submit it along with the required documents
5. Medical Examination: Complete any required medical tests
6. Policy Issuance: Once approved, you’ll receive your policy document

Why Choose Me as Your LIC Agent in Kolkata?

As the best LIC agent in Kolkata, I offer:

• Personalized Service: Tailored advice based on your unique financial situation
• Extensive Knowledge: In-depth understanding of LIC products and industry trends
• Prompt Assistance: Quick response to your queries and support throughout the policy term
• Claim Settlement Support: Guidance and assistance during the claim settlement process

Remember, LIC Jeevan Umang is more than just an insurance policy – it’s a long-term financial partner that grows with you and your family. As your dedicated LIC agent in Kolkata, I’m here to help you make the most of this excellent opportunity for financial security.

Ready to secure your future with LIC Jeevan Umang? Don’t hesitate to reach out! Call me, Somenath Naskar, at 7980031260 for expert advice and assistance in purchasing your policy. Let’s work together to build a strong financial foundation for you and your loved ones!

Frequently Asked Questions