Jeevan Umang 945

Jeevan Umang 945: Indians often prefer insurance plans that provide long-term security, regular income, and a legacy for the family. While most policies provide lump sum maturity or money-back benefits, few offer lifelong income along with insurance cover.

This is exactly what LIC Jeevan Umang Plan 945 delivers.

Table of Contents

It’s a whole life insurance plan that not only provides income every year after premium payment term (PPT) but also ensures a lump sum payout on maturity or death.

In simple words:
👉 Pay for a few years, enjoy income for a lifetime, and leave wealth for your loved ones.

That’s why LIC Jeevan Umang is called “Income + Protection for Life”.

Key Features of LIC Jeevan Umang 945

Type of Plan: Non-linked, Participating, Whole Life Insurance with Bonus.
Minimum Entry Age: 90 days.
Maximum Entry Age: 55 years.
Policy Term: Till age 100 years.
Premium Paying Terms (PPT): 15, 20, 25, or 30 years.
Minimum Basic Sum Assured: ₹2,00,000.
Maximum Sum Assured: No limit.
Premium Payment Modes: Yearly, Half-Yearly, Quarterly, Monthly (NACH).
Loan Facility: Available after 2 years.
Rider Options Available:

Accidental Death & Disability Rider
Accident Benefit Rider
New Term Assurance Rider
Critical Illness Rider

Eligibility Criteria

Criteria	Minimum	Maximum
Entry Age	90 days	55 years
Premium Paying Term (PPT)	15 years	30 years
Age at End of PPT	30 years	70 years
Age at Policy Maturity	100 years	100 years
Basic Sum Assured	₹2,00,000	No Limit

Benefits of LIC Jeevan Umang Plan 945

1. Survival Benefit – Annual Income for Life

After completion of premium payment term, the policyholder receives 8% of Basic Sum Assured every year till age 100.
👉 Example: For SA ₹10,00,000 → ₹80,000 every year as income after PPT.

2. Maturity Benefit – Lump Sum at Age 100

If the life assured survives till age 100, they receive:

Basic Sum Assured + Bonuses + Final Additions.

3. Death Benefit – Family Protection

If the life assured dies during the term, the nominee gets:

Sum Assured on Death (10x Annual Premium or 125% of SA, whichever higher) + Bonuses.

4. Bonus Participation

Since it’s a participating plan, policyholders are eligible for reversionary bonuses and final additional bonus.

5. Loan Facility

Loan can be availed after 2 years, useful for emergencies.

6. Tax Benefits

Premiums eligible under Section 80C.
Survival income, maturity, and death benefits exempt under Section 10(10D) (as per rules).

Example with Tabular Illustration

Let’s assume:

Age: 30 years
PPT: 20 years
Basic Sum Assured: ₹10,00,000

Survival Benefits

Year	Benefit
From 21st year till age 100	₹80,000 annually (8% of SA)

Maturity at 100 years

Component	Amount (approx.)
Basic Sum Assured	₹10,00,000
Bonuses (approx.)	₹25,00,000
Final Additional Bonus	₹2,00,000
Total Maturity	₹37,00,000

👉 Plus, yearly income of ₹80,000 received for 50+ years (total ₹40,00,000).

Total Benefit = ₹77,00,000+ on a ₹10 Lakh SA plan.

Premium Chart (Illustrative)

For 30-year-old male, PPT 20 years, SA ₹10 Lakh.

Mode	Approx. Premium (₹)
Yearly	49,000 – 52,000
Half-Yearly	25,000 – 26,500
Quarterly	12,800 – 13,500
Monthly (NACH)	4,300 – 4,500

Analyst Opinions

Strengths of Jeevan Umang 945

Lifelong Income: 8% SA every year is unique and attractive.
Goal-oriented Planning: Perfect for retirement, children’s education, or legacy creation.
Trust of LIC: Most secure and reliable insurer in India.
Loan Option: Helps with liquidity.

Weaknesses

Premiums are higher compared to normal endowment plans.
Returns are moderate (6–7%) – lower than equity or ULIPs.
Liquidity only after PPT completion.

Expert Verdict:
LIC Jeevan Umang 945 is best for those who want safe, guaranteed lifelong income + protection. Ideal for retirement planning, NRIs, and conservative investors.

Investor Scenarios & Examples

Scenario 1 – Retirement Planning

Mr. Sharma (Age 30, SA ₹15 Lakh, PPT 20 years)

Pays premium till age 50.
From age 51, starts receiving ₹1.2 Lakh yearly income for life.
At 100 years, family gets ₹55+ Lakh maturity.

Scenario 2 – Child Education Planning

Mrs. Iyer (Age 28, SA ₹10 Lakh, PPT 20 years)

Income starts when her child turns 20, supporting education fees.
At maturity, child inherits huge wealth.

Scenario 3 – NRI Investor

Mr. Patel (NRI, Age 35, SA ₹20 Lakh, PPT 25 years)

Uses LIC Jeevan Umang as a safe INR-based income plan.
Ensures regular cash flow for parents in India.

Real Investor Insights

Anil, 40 (Delhi Businessman):
“I chose Jeevan Umang for retirement. The yearly income is like a pension, and my family is secured.”
Priya, 32 (Doctor, Chennai):
“This plan ensures I never run out of income in old age. Plus, my kids get a huge maturity benefit.”
Rajesh, 29 (NRI, USA):
“It’s risk-free, tax-free, and safe. Perfect for NRIs who want lifelong Indian income.”

FAQs – LIC Jeevan Umang Plan 945

Q1. What is the minimum entry age?
👉 90 days.

Q2. When do I start receiving survival income?
👉 After premium paying term (15, 20, 25, or 30 years).

Q3. What happens at 100 years?
👉 Basic Sum Assured + Bonuses + Final Additions are paid.

Q4. Is the annual income guaranteed?
👉 Yes, 8% of Basic Sum Assured is guaranteed.

Q5. Is this policy tax-free?
👉 Yes, under Section 80C & 10(10D).

Q6. Can I take a loan under Jeevan Umang?
👉 Yes, after 2 years of premiums.

Final Thoughts – Should You Buy LIC Jeevan Umang Plan 945?

LIC Jeevan Umang 945 is one of the best lifetime income plans in India.

✔ Provides guaranteed annual income for life.
✔ Ensures financial protection to family.
✔ Gives huge maturity benefit at age 100.
✔ Acts as a retirement pension + wealth creation tool.
✔ Tax-free benefits enhance real returns.

However, if your goal is only high-risk high-return investment, then mutual funds or ULIPs may be better.

In short:
👉 If you want peace of mind, guaranteed income, and LIC trust, Jeevan Umang 945 is an excellent choice.

It’s not just insurance – it’s a retirement plan, legacy plan, and family protection tool all in one.