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• Max…have you heard 'this' policy of LIC?
• 5000 per month in return on investment
• Life cover up to 100 years

LIC Jeevan Umang Plan : It is impossible to say what situation will arise in life. It is necessary to be ready to face all these situations. We are doing different purposes for that. The important thing for this is the insurance plan. If you are also looking for a policy that provides long term insurance coverage”https://tezzbuzz.com/topic/insurance-policy”>PolicyIf you invest Rs 5000 per month then you will get life cover till the age of 100. What exactly is this policy and you don't have any risk in this investment”text-align: justify;”> Amrit Bharat 3.0 : Now common people will get experience of Vande Bharat, big announcement of Indian Railways! What is special about Amrit Bharat 3.0?

LIC India Life Insurance Corporation is a government-owned insurance company, which means there is no risk in investing in its policies. Therefore, investing in it becomes an important and reliable option. Those who wish to get guaranteed annual income after retirement should invest in LIC Jeevan Umang Yojana. It is a whole life insurance plan that is going to cover the policyholder up to the age of 100. If you start investing Rs 5000 per month, you will get fixed annual income till the age of 100.

Special features of this scheme

Holders of this scheme get 100 years of protection. But you don't have to pay into this plan for the rest of your life. You can choose premium payment terms of 15, 20, 25 or 30 years as per your convenience.

After the premium payment period ends, LIC will continue to pay you 8% of the original sum assured every year as 'Survival Benefit' throughout your life.

Another important advantage is that premium payment is tax-deductible under section 80C and maturity/return is tax-deductible under section 10(10D). You can also take a loan on the policy if needed after two years from inception.

The exact math of investment?

If a person takes this policy at the age of 30 and decides to pay the premium for 20 years, their monthly investment of ₹5,000 will net them ₹60,000 annually. This premium will create a life insurance cover of approximately ₹10 lakhs. This means that after 20 years, when the policyholder turns 50 and turns 51, he will get a fixed amount of ₹80,000 per annum at 8% of ₹10 lakh, till he turns 100 or dies.

If the policyholder lives beyond 100 years, he gets a lump sum of sum assured, any bonus declared by LIC and a final additional bonus, term benefit. If the policyholder dies at any time after the age of 50, his nominee will get the entire sum assured of ₹10 lakh and all the sums accumulated over the years at once. So if you also want money till age 100 then start this scheme now.

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