LIC Jeevan Umang Calculator (Plan 945) — Premium, Survival Income & Maturity
Use this LIC Jeevan Umang calculator page to get instant premium & survival-income estimates for Plan 945, compare PPT/mode options, toggle riders, and download a PDF illustration.
Calculate NowPlan details based on LIC of India, UIN: 512N317V02. Official Brochure
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Your Personal Jeevan Umang Calculator (Plan 945)
How to use: 1. Enter Age, Gender, Basic Sum Assured (BSA), Premium Paying Term (PPT). 2. Choose Payment Mode. 3. Toggle optional riders. 4. Click Calculate to view your benefits.
Quick Snapshots: Sample Estimates
Here are quick illustrative results for common queries like 'Jeevan Umang premium for 10 lakh'. Use the calculator for your exact inputs.
| Profile | Yearly Premium (Approx.) | Guaranteed Annual Income (post-PPT) |
|---|---|---|
| Age 30, ₹10 Lakh BSA, PPT 15 | ≈ ₹65,000 | ₹80,000 / year |
| Age 40, ₹20 Lakh BSA, PPT 10 | ≈ ₹2,20,000 | ₹1,60,000 / year |
| Age 50, ₹5 Lakh BSA, PPT 10 | ≈ ₹60,000 | ₹40,000 / year |
Numbers are illustrative estimates. Actuals depend on LIC underwriting and riders.
What is Jeevan Umang (Plan 945)?
In simple words: Pay for a fixed period (e.g., 15 years) and get a guaranteed, tax-free income for life (from year 16 to age 100).
Jeevan Umang is a participating whole-life plan that provides an ongoing (lifelong) survival income after the premium paying term. It combines life insurance protection with a recurring income stream — making it attractive for retirement planning. The plan also accrues bonuses and may include final additional bonuses where applicable. You can get more details from the official LIC Jeevan Umang page.
How the LIC Jeevan Umang Calculator Works
The formulas and assumptions behind your benefit calculation.
Premium Calculation
The calculator uses LIC's base premium rates based on your age, sum assured, and PPT. It then applies standard modal loading factors for non-yearly payments and adds GST (4.5% 1st year, 2.25% thereafter).
Survival & Maturity Benefits
The primary benefit is the annual survival income, which is a guaranteed 8% of your Basic Sum Assured, paid every year after your premium term ends, until you reach age 100. The maturity benefit, paid at age 100, includes the Sum Assured, vested bonuses, and any Final Additional Bonus (FAB).
Case Studies: Jeevan Umang for Different Life Goals
See how Jeevan Umang performs for different life stages.
Case Study 1: The Young Professional (Age 30, ₹10L Cover, PPT 15)
Goal: Build a tax-free pension alternative. Inputs: Age 30, BSA ₹10L, PPT 15. Result: Approx. yearly premium of ₹65,000. From age 46, they receive a guaranteed, tax-free income of ₹80,000 every year for life. By age 75, they would have received ₹24 Lakhs in income from a total premium payment of about ₹9.75 Lakhs, while the life cover continues.
Case Study 2: The Pre-Retiree (Age 50, ₹25L Cover, PPT 10)
Goal: Create a supplementary, guaranteed income stream in retirement. Inputs: Age 50, BSA ₹25L, PPT 10. Result: Approx. yearly premium of ₹2.7 Lakhs. From age 61, they receive a guaranteed annual income of ₹2,00,000. This provides a secure income floor, unaffected by market volatility in their retirement years.
Case Study 3: Child's Future (Child Age 1, Parent Age 30)
Goal: Create a lifelong financial gift for a child. Inputs: Child Age 1, Parent Age 30, BSA ₹5L, PPT 20. Result: Approx. premium of ₹22,875/year. From the child's 22nd birthday, they start receiving ₹40,000 annually, for life. It serves as a supplementary income for their early career and a valuable asset for life.
LIC Bonus Rates (Historical Reference)
While not guaranteed, past bonus rates provide a realistic expectation for returns. This is key for any 'LIC Jeevan Umang return calculator with bonus'.
| Financial Year | Bonus Rate per ₹1,000 SA (Avg. for Whole Life) |
|---|---|
| 2023-24 | ₹48 |
| 2022-23 | ₹46 |
| 2021-22 | ₹46 |
| 2020-21 | ₹45 |
Loan Calculation Example
Understand how you can get liquidity from your policy without surrendering it.
If you've paid premiums for 5 years on a ₹10 Lakh policy, your policy might have a Special Surrender Value (SSV) of around ₹2.5 Lakhs (illustrative). You can typically get a loan of up to 90% of this amount, which would be ₹2.25 Lakhs, to meet any immediate financial needs. The loan amount and accrued interest are then adjusted against the final claim amount.
Jeevan Umang vs. Similar LIC Plans
How does Jeevan Umang compare against other popular choices?
| Feature | Jeevan Umang (945) | Jeevan Utsav | Jeevan Labh |
|---|---|---|---|
| Benefit Type | Lifetime Survival Income | Lifetime Income or Flexi-income | Lump Sum Endowment |
| Income Payout | 8% of Sum Assured annually | 10% of Sum Assured annually | N/A (Lump Sum only) |
| Best For | Guaranteed lifelong pension | Flexible lifetime income options | Goal-based lump sum savings |
Use our calculators to compare illustrations for Jeevan Utsav and Jeevan Labh.
Frequently Asked Questions (FAQ)
All your questions about the Jeevan Umang Calculator answered, covering long-tail keywords like 'surrender value calculator' and 'IRR'.
Final Verdict: Is Jeevan Umang a Good Investment?
For individuals seeking a disciplined, low-risk savings plan that provides a guaranteed, lifelong, tax-free income stream, Jeevan Umang is one of the most robust products in the market. It excels at creating a predictable 'pension' alternative, shielded from market volatility. It may not offer the high growth of equity, but for foundational financial security, its value is unmatched.
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