LIC Jeevan Umang Calculator
What LIC's Jeevan Umang (plan 745) pays you each year and at 100, and the yearly return that works out to.
In LIC's own Jeevan Umang example, a 40-year-old paying ₹53,879 a year for 20 years (₹10,77,580 in all) for a ₹10 lakh sum assured gets ₹80,000 a year from age 60 to 99 (40 payments) and ₹10 lakh at 100. That guaranteed part alone is a return of 4.4% a year; bonuses add to it.
The words on this page, explained simply
New to this? Here is what each term means, in plain English.
- Sum assured
- The basic amount your policy promises, printed as Basic Sum Assured on the policy bond. Bonuses are worked out as rupees per ₹1,000 of it.
- Survival benefit
- Money an insurance plan pays while you are alive during the policy, such as Jeevan Umang's yearly 8% of the sum assured.
- Simple reversionary bonus
- The bonus LIC adds to a policy each year it is in force, stated per ₹1,000 of sum assured. A rate of ₹40 on a ₹2 lakh policy adds ₹8,000 a year. Once added it is yours, but it is paid only at maturity, on death or, at a lower value, on surrender.
- Final additional bonus
- A one-time bonus LIC may add when a policy matures or a claim is paid, per ₹1,000 of sum assured. It is not guaranteed and is not paid on a paid-up policy.
- Yearly return
- The steady yearly rate that would turn your premiums, each paid at the start of a year, into the maturity amount. It is the fair number to compare with an FD or PPF.
Jeevan Umang is a whole-life plan: you pay premiums for 15, 20, 25 or 30 years, then LIC pays 8% of the sum assured every year until you are 99, and the sum assured plus bonuses at 100. If you die earlier, your family gets the death benefit instead. Enter the numbers on your policy bond to see what it pays and the yearly return.
What Jeevan Umang pays
Yearly income: 8% of the basic sum assured, paid at the end of the last premium year and every year after, until the policy anniversary before you turn 100. At 100: the sum assured, the simple reversionary bonus added during the premium years and any final additional bonus. All of these stop if you stop paying premiums.
| Premium paying term | Oldest age to buy | Income starts at (if you buy at 30) |
|---|---|---|
| 15 years | 55 | 45 |
| 20 years | 50 | 50 |
| 25 years | 45 | 55 |
| 30 years | 40 | 60 |
The real return
The calculator finds the single yearly rate at which your premiums would grow into the income and the final payment. Because the income runs for decades, the result depends heavily on living to collect it; on death the family gets the death benefit instead, which this return does not show.
Compare it with PPF (7.1% a year today, tax-free) or a bank deposit, and remember that a separate term plan buys life cover far more cheaply.
What this calculator leaves out
Bonuses: LIC declares them each year in circulars it does not publish online, so enter the rate from your bonus statement. After the premium years LIC may share profits in a different form; if your statement shows such an addition, include it in the final bonus. Surrender values for Jeevan Umang are not covered here.
Where to find your bonus rate
LIC adds a bonus every year, stated per ₹1,000 of sum assured: a rate of ₹40 on a ₹2 lakh policy adds ₹8,000 a year. LIC announces the rates once a year, and they change. Your bonus so far is on your LIC bonus statement and in the LIC customer portal; your agent or branch can tell you this year's rate for your plan and term.
This page does not fill in a rate for you, because LIC does not publish its yearly rates on its website. The example rates are the ones LIC's own brochures use to illustrate an 8% investment return, not declared rates.
Key takeaways
- Income of 8% of the sum assured every year from the end of the premium years to age 99.
- The sum assured and bonuses are paid at 100.
- LIC's own example earns 4.4% a year on the guaranteed part alone.
Frequently asked questions
How much does Jeevan Umang pay every year?
8% of the basic sum assured: ₹80,000 a year on a ₹10 lakh policy, from the end of the premium paying term until the policy anniversary before age 100.
When does Jeevan Umang income start?
At the end of the last premium year. If you buy at 30 with a 20-year premium term, the first income comes at 50.
Is Jeevan Umang a good return?
In LIC's own example the guaranteed part returns 4.4% a year; bonuses raise that. Enter your policy and bonus to see yours, and compare it with PPF at 7.1%.