LIC Jeevan Umang Plan 845 Detail Feature and Benefits

LIC Jeevan Umang Plan 845: Details, Features and Benefits

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LIC Jeevan Umang Plan 845: Details, Features and Benefits

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  • Post last modified:November 8, 2023

LIC Jeevan Umang plan 845 is a lifelong assurance plan provided until the age of 100 or the assured’s death. Jeevan Umang plan 845 is a reliable and advanced plan that provides payment regularly after the completion of the plan. You can even take the lump sum of your plan or get a fixed amount every year. Jeevan Umang plan 845 is a good plan for those who want money after their retirement as an assured amount to meet their financial needs.

This plan offers various benefits and features to their customer. However, we are here to provide information about the  Jeevan Umang 845, its key features, benefits, risks, and all Jeevan Umang illustrations.  

LIC Jeevan Umang Plan 845 Details

 We have provided basic Details on the LIC Jeevan Umang 845 Plan in the table:

Entry age 90 days
Premium paying term 15, 20, 25, and 30 years
Maximum age at entry in years 55 for 15 PPT

50 for 20 PPT

45 for 25 PPT

40 for 30 PPT

Age at maturity 100 years
Policy term 100 – age of entry
Basic sum assured 2,00,000 and above in multiple multiples of 25000
Premium paying mode Yearly, half-yearly, quarterly, and monthly
Premium mode rebate 2% on yearly, 1% on half yearly, nil on quarterly and monthly

Features of LIC Jeevan Umang Plan 845

Some of the benefits of Jeevan Umang plan LIC other than maturity and survival benefits and death benefits are given below:

1. Premium Paying Mode

Most policies only provide monthly and yearly payment modes; however, Jeevan Umang’s LIC plan is much better than any other plan. It offers monthly, quarterly, half-yearly, and annual payment modes. You can choose among them as per your ability and requirements.

Also Read: LIC Plans With Highest Return in India

2. Loan Facility

You can even take a loan with the help of Jeevan Umang plan LIC. You can get a loan once you finish your three years of life insurance policy. It even helps you to fulfill your sudden need. However, it is one of the best features and benefits of the Jeevan Umang plan LIC.

3. Free Look Period

You can avail of a free looking period such as if you need more clarification on the conditions and terms of the policy, you can take a trial of 15 days. And once the trial ends, you can choose whether you want the plan.

4. Lapse Policy Revival

If you fail to pay your policy amount, you have a chance to revive your policy after two years of unpaid premium.

Benefits of LIC Jeevan Umang Plan 845

LIC Jeevan Umang plan 845 has various amazing benefits. Here we will discuss the top benefits of this plan:

1. Survival and Maturity Benefits

Suppose you’re a Jeevan Umang  845 holder. In that case, you’ll be provided with various benefits. You’ll be provided with the assured amount of money, i.e.,8% of the basic sum assured every year, and not only this, but you’ll also be provided with a primary aggregate guaranteed, a simple reversionary bonus and FAB as a  benefit, and you can claim it once the plan matures.

2. Death Benefits

Jeevan Umang plan LIC provides both maturity and death benefits, which are provided to the nominee if the assured dies. Suppose the assurance of the plan is dead right before the commencement of risk. In that case, all the basic sum assured is given to the nominee as the death claim, but if the assured dies after the commencement of risk, then the nominee will be provided various benefit amounts along with the basic sum assured.

How Does LIC Jeevan Umang Plan 845 Work?

If you want to become a Jeevan Umang plan LIC, you have to choose the payment period in which you’ll pay your regular payments of the term plan. The person will get a premium payment once the plan matures. The assurance is only guaranteed with a basic sum, but you’ll also get various benefits such as survival benefits, vested simple reversionary bonus, final additional bonus, and many more. The Jeevan Umang plan LIC is applicable till the death of the assured, and for some reason, if a person dies, all the guaranteed amount will be provided to the assured nominee.

Insured’s entry age Amount received
18 For the first two years – only the premium refunded


After two years – sum assured + vested bonus

Eight and above An amount higher than ten times the total premium paid + vested simple reversionary bonus+ final additional bonus


Basic sum assured + vested simple reversionary bonus + final additional bonus.

Why Should You Buy LIC Jeevan Umang Plan 845?

While buying any plan, we always question why only this plan. Undoubtedly, Jeevan Umang plan 845 is trusted, so many people opt for this plan. However, some of the reasons why you should buy LIC Jeevan Umang plan 845are given below:

  1. This is trusted and provides full support to the family and acts as an income provider after the assured’s death.
  2. This plan provides regular payment to the person so that they can satisfy their day-to-day financial needs.
  3. This Jeevan Uamng plan 845 is a source of income for the family, and once you have this plan, you can get another money provider.
  4. In this plan 845, you’ll get a high return on your small investment.
  5. You’ll receive a tax rebate in Jeevan Umang 845 if your assured sum is enormous.

Who Should Buy LIC Jeevan Umang Plan 845?

Anyone can buy Jeevan umang plan 845 LIC. However, some of the requirements to become a holder of Jeevan Umang plan LIC are:

  1. The maximum age to become a is 55 years. However, the minimum is 90 days.
  2. You can deposit an assured amount of 2 lacks at a time.
  3. One hundred years is considered the age of maturity.
  4. The people who want to support their family after their death can buy LIC Jeevan Umang plan 845.
  5. This plan 845 is for those who want an additional source of income and their jobs to satisfy their long-term financial needs.
  6. If you want income tax benefits, then LIC Jeevan Umang plan 845 is for you.


LIC Jeevan Umang plan 845 is the best and most reliable plan you can opt for to support your family after your death. It even provides you with a source of income which can help in fulfilling your needs. In this article, we discussed all the necessary details about LIC Jeevan Umang plan 845, which can help you while pursuing one.

LIC Jeevan Umang Plan 845 – FAQs

Is it possible to close a term plan in between the policy term and how much amount will I receive if I close a 10-year term plan in mid of the policy duration?

Ans. In term policies, if you close the policy in the middle of the duration or survive the policy term, you will not get any benefits. Term plan offer benefits as death claim only.

What are the benefits of Jeevan Umang?

Ans. Jeevan Umnag provides the benefits of family protection after the assured’s death and acts as an additional source of income. It also helps you save tax. You can also take loans against the policy.

Please clarify one thing, if LIC gives a bond guaranteed of 8% per year? How to get information about this?

Ans. Yes, the policy offers 8% of the basic sum assured yearly after the completion of the premium. You will find it all mentioned in your policy bond.

Please tell me if the pension I receive on the survival benefit will be taxable.

Ans. The survival benefit which is 8% of the sum assures is completely tax-free.

What are the loan benefits under LIC Jeevan Umang Plan 845?

Ans. When you complete 3 years of policy years, you can avail loan up to the premium paying term.

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