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LIC Jeevan Umang Plan Life Insurance

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LIC Jeevan Umang
Claim Settlement Ratio98.62%
Customer Care8:00 AM to 8:00 PM
Death Benefit Paid For73,3809 Policies
Inception1956
Presence2048 Branches
Total Death Benefit Paid12797.85 Crore

About LIC Jeevan Umang Plan Life Insurance

One of the leading life insurance companies in India, LIC or Life Insurance Corporation was founded in the year 1956. LIC is under the management and ownership of the Ministry of Finance and is headquartered in Mumbai. Offering a bunch of life insurance plans, LIC is often the first choice when it comes to buying life insurance plans in India. LIC Jeevan Umang is one of the top-performing plans offered by the company. The LIC Jeevan Umang Plan is a type of non-linked, with-profit, whole-life assurance plan that offers a dual benefit of protection as well as income. So, let’s walk you through the different aspects of the LIC Jeevan Umang Policy details in the section below.

Key Inclusions and Exclusions of the Plan

What's Not Included

  • There are certain exclusions in the LIC Jeevan Umang Plan. Listed are some of the exclusions of LIC Jeevan Umang Plan: If the policyholder commits suicide during the first 12 months of the policy tenure, then no claims shall be entertained by LIC except for 80% of the premium paid. In case the policyholder is below 8 years, then no claims shall be entertained. If the policy lapses due to failure of paying out the premium and there is no paid-up value-added, then no benefits shall be paid out.

Life Insurance Corporation of India (LIC of India) Plan List

    Name of PlanSum Assured
    LIC Bima Jyoti20 lac - 10 cr Get Quotes Now
    LIC SIIP20 lac - 10 cr Get Quotes Now
    LIC Jeevan Anand20 lac - 10 cr Get Quotes Now
    LIC Jeevan Labh20 lac - 10 cr Get Quotes Now

    Claim Process at Life Insurance Corporation of India (LIC of India)

    • 1

      Claim Intimation

      In the event of the death of the life assured, the insurance company should be intimated as early as possible.
    • 2

      Submission of Documents

      For easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
    • 3

      Claim Evaluation

      After successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
    • 4

      Claim Settlement

      If claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.

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    FAQs on LIC Jeevan Umang Health Insurance Plan

    • Does LIC Jeevan Umang Plan offer income benefits?

      With the LIC Jeevan Umang Plan, you can get income in the form of annual survival benefits.

       

    • Is death benefit offered under LIC Jeevan Umang Plan?

      Yes, a death benefit is offered under the LIC Jeevan Umang Plan, if the policyholder dies during the policy term. 

       

    • Can I get flexible paying terms with LIC Jeevan Umang Plan?

      Yes, there are flexible paying terms when you buy LIC Jeevan Umang Plan. You can pay for either 15, 20, 25, or 30 years.

       

    • What is the benefit of buying the LIC Jeevan Umang Plan?

      You can enjoy the benefits of creating income as well as enjoying life insurance coverage with the LIC Jeevan Umang Plan. 

       

    • What are the minimum and maximum entry age of the LIC Jeevan Umang Plan?

      The minimum and maximum entry age of the LIC Jeevan Umang Plan is 90 days and 55 years respectively. 

       

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