LIC Jeevan Umang Policy Explained in Simple Words
How ₹95,029 Today Can Give You ₹96,000 Every Year Till You Turn 100
Let’s be honest — most of us don’t really understand insurance policies. We hear big words like premium, bonus, returns, surrender value, and our brain just switches off. But what if I told you there’s one LIC plan where you invest once, and then LIC gives you money every single year till you’re 100 years old?
Yes, I’m talking about LIC’s Jeevan Umang (745) policy.
And in this blog, I’ll break it down in the most simple, no-jargon way possible. Just like you’re having a normal conversation with a friend who wants to understand where to put their money safely.
So, What is This LIC Jeevan Umang Policy?
Jeevan Umang is a life insurance plan by LIC (Life Insurance Corporation of India) that’s designed to give you two things:
- Guaranteed yearly income, and
- Insurance cover for your whole life — till you’re 100 years old.
You pay the premium for 15, 20, 25 or 30 years — and after that, you get regular income from LIC every year till you turn 100. If something happens to you in between, your family gets a lump sum amount.
Sounds cool, right? Let’s look at it with a simple example.
Let’s Take a Real Example from the Paper
The example shared in the Gujarati newspaper is very helpful. Here’s what it says:
If a person buys this policy at age 55, and they choose to pay premiums for 15 years, then:
- They’ll pay around ₹95,029 every year for 15 years.
- After 15 years, they stop paying.
- From the 16th year onwards, LIC starts giving them around ₹96,000 every year.
- This income continues till the person turns 100 years old!
So basically:
| Year | Action | Amount |
| 1–15 | You pay premium | ₹95,029 per year |
| 16–100 | LIC pays you | ₹96,000 per year |
That means by the time you’re 70, you’ll already have received ₹14,25,810 back.
And by 100, the total payout can be up to ₹1.89 crore, including bonus and loyalty additions.
And yes, this is tax-free income under current rules.
What If Something Happens to You?
If the policyholder passes away during or after the premium payment period, their family will receive the sum assured plus bonus. So, your investment is not only giving you money but also securing your loved ones.
The policy also covers death due to accident or natural reasons.
What Are the Main Benefits?
✅ Lifetime Income
You get money every year — like a second salary — till you turn 100.
✅ One-Time Investment Possible
. No need to worry about remembering yearly payments.
✅ Covers You for Life
This isn’t a short-term plan. It protects and pays you till 100. That’s rare.
✅ Family is Also Covered
They get a good amount from LIC.
✅ Bonus and Loyalty Additions
Along with regular income, LIC adds bonus money from time to time.
✅ Tax Benefits
You get tax benefits on the amount you invest (Section 80C) and the amount you receive (under Section 10(10D), subject to current laws).
Who Can Take This Policy?
Anyone between 90 days to 55 years old can take this policy.
What Are the Payment Options?
You can choose to pay for:
- 15 years
- 20 years
- 25 years
- 30 years
The earlier you start, the better returns you get.
Any Other Features Worth Knowing?
Yes!
- You can withdraw your profits yearly or keep it with LIC to get interest.
- There are bonus features if you continue your policy till the end.
So Who Should Take This Policy?
This is perfect for people who:
- Want a fixed, guaranteed income every year.
- Want to save for retirement in a stress-free way.
- Want to create a second source of income later in life.
- Want to leave behind a good lump sum for their kids or spouse.
How to Buy LIC Jeevan Umang?
You can visit the nearest LIC branch or contact an LIC agent like the one in the newspaper clipping.
Make sure to:
- Ask about premium calculators.
- See sample illustrations for your age.
- Understand your payment period and yearly benefit.
Is This Better Than Other Investment Options?
That depends on your goals. If you want:
Very safe, long-term income → LIC Jeevan Umang is a good choice.
It’s not about either/or. It’s about balance. This plan is great for stability and peace of mind — especially after retirement.
Conclusion
We often ignore these policies thinking they’re complicated or boring. But LIC Jeevan Umang is actually simple if you look at it closely.
You pay a fixed amount for a few years, and then LIC pays you every year — for life.
And in today’s world, where nothing is stable — jobs, markets, health — something that gives guaranteed income for decades deserves a serious look.
If you have some savings or can plan for it early, this policy might help you:
- Live stress-free during your old age.
- Get a second income.
- Leave behind a legacy.
If you’re still on the fence, think about this — how many plans out there actually give you income till 100 years of age, while also covering your life? Not many. This is more than just a policy. It’s financial peace of mind, especially for your retired life. With inflation rising and healthcare costs going up, regular yearly income without the stress of market ups and downs can be a huge relief. Jeevan Umang is not flashy, but it is reliable — and that matters more in the long run.
Want to Know More?
If you or someone in your family is planning for retirement or wants a low-risk investment, this is worth sharing. Speak to an LIC agent or visit their website.
This is your chance to plant a money tree — one that keeps giving shade and fruits for years.
