LIC Jeevan Umang Plan 745 Calculator

LIC’s Jeevan Umang (Plan 745) Calculator

UIN: 512N312V03 | Plan No: 745

Par, Non-Linked, Individual, Savings, Whole Life Insurance Plan

Enter Policy Details

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Invalid Sum Assured
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Premium Details

First Year Premium

₹0

Includes GST @ 4.5%

Subsequent Premium

₹0

Includes GST @ 2.25%

Total Paid

₹0

Over years

Rebates: Mode High SA

Survival & Coverage

Annual Survival Benefit

8% of Basic Sum Assured

₹0

Payable annually from end of PPT till age 99

Sum Assured on Death

₹0

Higher of 7x Premium or SA

Total Survival Benefits

₹0

Till Age 100

Estimated Total Returns

Maturity Benefit (SA)₹0
Total Survival Benefits₹0
Est. Bonuses (30%)₹0
Est. Final Bonus (15%)₹0
Total Maturity Benefit₹0
Less: Total Premiums Paid-₹0
Net Gain (Estimated)₹0

Timeline

Premium Payment (Years 1-)

You pay premiums.

Survival Benefits (Years )

You receive 8% of SA annually.

Maturity (Age 100)

Lump sum payment of Sum Assured + Bonuses.

Key Features of LIC’s Jeevan Umang

💰
Regular Income

8% of Sum Assured annually after premium payment term

🛡️
Life Cover

Whole life protection with guaranteed benefits

📈
Bonus Benefits

Simple Reversionary Bonuses + Final Additional Bonus

💳
Loan Facility

Available after 1st year at competitive rates

🎯
Flexible Options

Choose PPT from 15/20/25/30 years

Rider Options

Add accident, term cover & premium waiver riders

Important Notes

  • • This calculator provides estimated values. Actual benefits may vary based on LIC’s bonus declaration
  • • Bonuses shown are conservative estimates (30% accumulated, 15% FAB) – actual may be higher or lower
  • • Policy term is calculated as (100 – age at entry) years
  • • Premium shown includes applicable GST as per current rates
  • • Age at maturity is 100 years (nearer birthday)
  • • Free look period: 30 days from receipt of policy document
  • • Tax benefits as per prevailing Income Tax laws

Choosing the right life insurance plan becomes much easier when you clearly understand what the policy offers and how much you can expect in return. LIC Jeevan Umang Plan 745 is one of those rare plans that combines protection, guaranteed annual income, and lifelong coverage up to age 100.

And when you pair it with a simple Jeevan Umang Calculator, it becomes effortless to estimate survival income, maturity benefits, long-term returns, and premium requirements.

What Exactly Is LIC Jeevan Umang (Plan 745)?

LIC describes Jeevan Umang as a Par, Non-Linked, Whole Life, Individual Savings Plan that offers both income + protection for your family. The policy pays three types of benefits:

  • Annual Survival Benefit (regular income)
  • Maturity Benefit
  • Death Benefit during the term

The plan can be purchased offline via LIC agents or corporate partners.

It works beautifully for anyone who wants a steady income after a fixed age, without losing the security of life cover.

Why People Love This Plan

Here’s why Jeevan Umang remains one of LIC’s most trusted savings plans:

Guaranteed Yearly Income

From the end of your premium-paying term, LIC pays 8% of the Basic Sum Assured every year; this is guaranteed.
Example: For ₹5,00,000 SA → yearly payout = ₹40,000.

Lifetime Coverage Up to Age 100

Your life cover continues till age 100 years, giving long-term peace of mind.

Flexible Premium-Paying Terms

You choose: 15-, 20, 25, or 30 years PPT.

Bonus + Final Additional Bonus (FAB)

Being a participating plan, Jeevan Umang earns bonuses throughout the premium-paying term and may also receive FAB at claim/maturity.

High Sum Assured Rebates

Higher SA brings premium discounts.

Loan Facility

You can take a loan once the policy gains surrender value, useful for emergencies.

What Does the Jeevan Umang Calculator Do?

A good LIC Jeevan Umang Calculator helps you quickly understand:

Yearly Survival Income

Based on the official formula:
8% × Basic Sum Assured every year after PPT.

Maturity Value

At age 100, you receive:
Basic Sum Assured + Simple Reversionary Bonuses + Final Additional Bonus

Death Benefit

If something happens to the life assured, LIC pays:

  • Higher of 7× annual premium or Basic Sum Assured,
  • Vested bonuses + FAB
    (Not less than 105% of total premiums paid.)

Total Lifetime Income

You can estimate how much you will receive over the decades.

Premium Amount

The official brochure provides sample premiums for ₹2 lakh SA; these are used as a reference in the calculator.
Example from brochure:
Age 30, PPT 20, SA 2 lakh → Annual premium ₹11,407

How Jeevan Umang Actually Works

Let’s say a 30-year-old buys a ₹5,00,000 policy with a 20-year PPT.

Step 1: Pay premiums for 20 years

During this time, your policy also earns simple reversionary bonuses.

Step 2: From year 21 onwards → Guaranteed Income

You will receive:
₹5,00,000 × 8% = ₹40,000 every year,
till age 99.

Step 3: At age 100 → Lump-sum maturity

LIC pays your full:

  • Basic SA (₹5 lakh)
    • Vested Bonuses
    • Final Additional Bonus (if declared)

Step 4: If death occurs anytime

Your nominee receives the death benefit + bonuses.

This structure makes Jeevan Umang a blend of:
– Pension-like income
– Whole life cover
– A final maturity benefit

Who Should Use the LIC Jeevan Umang Calculator?

This calculator is extremely helpful if you:

Want to estimate retirement income
Want to plan long-term financial stability
Need to compare different PPT options (15/20/25/30 years)
Want clarity before purchasing the policy
Want to check whether the plan fits your goals
Are you evaluating lifetime risk cover + yearly income

Financial planners often recommend using a calculator before purchasing to understand the “real-world benefit flow.”

Key Eligibility & Policy Rules

Minimum Basic Sum Assured

₹2,00,000 (no upper limit)

Entry Age

30 days → up to:

  • 55 years (PPT 15)
  • 50 years (PPT 20)
  • 45 years (PPT 25)
  • 40 years (PPT 30)

Maturity Age

Always 100 years

Risk Commencement

For children below 8 years, risk starts after two years or on turning 8, whichever is earlier.

Riders Available

  • Accident Benefit Rider
  • Accidental Death & Disability Rider
  • New Term Assurance Rider
  • Premium Waiver Rider

Final Thoughts- Is LIC Jeevan Umang Worth It?

If you want guaranteed income + lifelong cover + bonuses from a trusted insurer, Jeevan Umang is one of the strongest contenders. The 8% yearly survival income is especially appealing for people planning retirement, passive income, or financial backup for later life.

Using a Jeevan Umang Calculator before buying gives you an accurate picture of how this policy will support your financial journey from today until age 100.

Faq – LIC Jeevan Umang Plan 745

What is the LIC Jeevan Umang Plan 745?

LIC Jeevan Umang (Plan 745) is a whole-life, participating, non-linked savings plan that combines long-term protection with yearly income. It offers guaranteed survival benefits, life cover up to age 100, and a lump sum maturity payout.

How does the LIC Jeevan Umang Calculator help?

The calculator estimates:
Yearly guaranteed 8% survival income
Total benefits until maturity
Premiums based on age, PPT, and sum assured
Expected maturity amount (SA + bonuses)
Death benefit values
This helps you understand returns and choose the right plan structure.

What is the guaranteed survival benefit under Jeevan Umang?

Every year after the premium-paying term, LIC pays 8% of the Basic Sum Assured as survival income until the policyholder reaches the policy anniversary before age 100.

What maturity amount can I expect?

At age 100, LIC pays:
Basic Sum Assured + Simple Reversionary Bonuses + Final Additional Bonus (if declared).

When does risk begin for children?

If the child is under 8 years, the risk starts after two years or on attaining age 8, whichever is earlier.
For those 8+ years, risk starts immediately.

Is Jeevan Umang better than money-back plans?

For long-term planners and those valuing annual income, Jeevan Umang often provides:
Higher guaranteed cash flow
Longer coverage
Better maturity structure
However, it depends on individual financial goals.

Does Jeevan Umang suit retirement planning?

Absolutely. It’s guaranteed yearly income after PPT works like a secondary pension, especially when paired with bonuses and lifelong coverage.

Disclaimer

The information, calculations, and examples provided in this article and the LIC Jeevan Umang Plan 745 Calculator are for educational and illustrative purposes only. Actual premiums, benefits, bonuses, and payouts may vary based on LIC’s underwriting rules, product updates, and individual policy terms.

For complete and authoritative details, please refer to the official LIC Jeevan Umang (Plan 745) Sales Brochure issued by the Life Insurance Corporation of India. All features, eligibility conditions, survival benefits, bonuses, death benefits, surrender values, and rider options are governed strictly as per LIC’s official policy document.

Always consult an authorised LIC agent or visit the official LIC website before making any insurance decisions.