LIC Jeevan Umang (Plan 745 / 945) Calculator & 8% Pension Planner
Whole Life Assurance with With-Profits Benefits. Calculate yearly premiums, guaranteed 8% annual survival payouts for life, and 100-year maturity cashflows.
Policy Parameters
Live ReactiveLIC Jeevan Umang Premium & Maturity Examples
To help you compare real-world policy outcomes, below are three representative calculation examples for LIC Jeevan Umang (Plan 945 / 745) across different entry ages, policy tenures, and sum assured brackets.
Starter Saver (Age 25)
* Guaranteed ₹40,000/yr tax-free pension starts from Age 45 and continues every year for life till Age 100.
Family Income Anchor (Age 30)
* ₹10L SA locks in ₹80,000 annual guaranteed survival income for life + massive ₹81.90L maturity corpus at 100.
Retirement Wealth Shield (Age 35)
* Short 15-year payment secures ₹2,00,000 annual pension for life starting from Age 50.
ℹAll premium values are calculated under direct pure tabular modes with 0% GST and applicable high sum assured rebates.
ℹGuaranteed 8% survival income begins immediately upon completion of the chosen PPT and continues annually until Age 100.
ℹMaturity at Age 100 includes Basic Sum Assured + 100-year Simple Reversionary Bonuses + Final Additional Bonus (FAB).
📋 Key Eligibility & Parameters (Jeevan Umang 945)
| Parameter | Specification |
|---|---|
| Plan Category | Whole Life Assurance (With Profits) |
| Guaranteed Survival Benefit | 8% of Basic Sum Assured every year after PPT till Age 100 |
| Entry Age | 90 days to 55 Years (depending on PPT) |
| Premium Paying Terms (PPT) | 15, 20, 25, or 30 Years |
| Minimum Basic Sum Assured | ₹2,00,000 (No upper maximum limit) |
| Tax Benefits | Premiums deductible under Sec 80C (up to ₹1.5L); Payouts & Maturity 100% Tax-Free under Sec 10(10D). |
LIC Jeevan Umang (945) FAQs
Answers to common questions regarding LIC policy premium computations, GST slabs, maturity formulas, and advisor tools.
1What is the key benefit of LIC Jeevan Umang (Plan 945)?
LIC Jeevan Umang guarantees an annual survival payout equal to 8% of the Basic Sum Assured every year for life after the Premium Paying Term (PPT) concludes until age 99. At age 100, full maturity with vested bonuses is paid.
2What are the premium paying terms available in Jeevan Umang?
You can choose between 4 Premium Paying Terms: 15 Years, 20 Years, 25 Years, or 30 Years.
3Are the 8% annual payouts tax-free?
Yes, under current income tax rules, the annual 8% survival benefit payouts are 100% tax-free under Section 10(10D) of the Income Tax Act.
4What happens if the policyholder passes away before age 100?
On death during the policy term, the nominee receives the Sum Assured on Death (higher of 7x annual premium or Basic SA) + Vested Reversionary Bonuses + Final Additional Bonus (FAB).
Official Notice & Disclaimer
LIC Plan Calc (licplancalc.com) is an independent informational and calculation utility created to assist insurance advisors, agents, and policyholders. It is NOT affiliated with, authorized, or endorsed by Life Insurance Corporation of India (LIC).
Premium and maturity estimates are calculated based on current declared Simple Reversionary Bonuses and standard tabular rates. Actual returns and eligibility are subject to LIC's official underwriting criteria and policy conditions.