A reliable financial option for Indian families seeking legacy, income, and security. LIC Jeevan Umang (Plan No. 745, Table No. 745) is a non-linked, with-profits whole life assurance plan from LIC of India, the most reputable insurance company in the nation, that was introduced on October 1st, 2024.
LIC Jeevan Umang (Plan 745)
Whole Life Plan with Survival Benefits & Bonus Potential.
Whether you are planning for retirement, your child’s future, or family financial security, this plan offers:
- Life cover till 100 years
- Guaranteed annual income after premium term
- Lump sum maturity benefit
- Tax-free returns under Section 80C & 10(10D)
Credit cards, debit cards, net banking, UPI, and wallets can now be used to buy LIC Jeevan Umang (Plan 945) online through LIC’s official New Business Platform.
Why LIC Jeevan Umang 745 is Special for Indian Investors?
Families in India favour stability and long-term security when it comes to financial planning. That’s precisely what Jeevan Umang offers:
- Regular Survival Benefits – 8% of Sum Assured every year after premium payment completion.
- Whole Life Protection – Life cover up to age 100 years.
- Maturity Benefit – At age 100: Sum Assured + Bonuses + Final Additional Bonus.
- Death Benefit – Higher of 10× Annual Premium OR Basic Sum Assured + Bonuses.
- Liquidity via Loans – Loan facility available after 2 years.
- Tax-Free Income – All benefits exempt under Section 10(10D).
Key Features of LIC Jeevan Umang 745
| Feature | Details |
|---|---|
| Plan Name | LIC Jeevan Umang |
| Plan Number | 745 |
| Type | Non-linked, Whole Life, With-Profits Plan |
| Entry Age | 90 days – 55 years |
| Maximum Maturity Age | 100 years |
| Policy Term | Up to age 100 years |
| Premium Payment Term (PPT) | 15, 20, 25, 30 years |
| Survival Benefit | 8% of Sum Assured annually after PPT |
| Maturity Benefit | SA + Bonus + Final Bonus at 100 years |
| Death Benefit | SA on Death + Bonuses |
| Loan Facility | Available after 2 years |
| Riders Available | Accidental Death, Disability, Critical Illness, Term Rider |
Real-Life Examples & Case Studies
Case Study 1 – Retirement Planning
- Mr. Sharma, Age 30
- Sum Assured: ₹10,00,000 | PPT: 20 years | Annual Premium: ₹49,000
- At 50: Starts receiving ₹80,000 every year (till 100).
- At 100: ₹10,00,000 + ₹15–20 lakh bonus.
👉 Total Returns = ₹40+ lakh against ₹9.8 lakh premium.
Case Study 2 – Child Future Planning
- Parents invest in Jeevan Umang for child aged 5.
- From adulthood onwards, the child receives annual income for life, plus maturity benefit at 100.
👉 A financial gift for life.
Case Study 3 – Middle-Aged Investor
- Mr. Verma, Age 40 | Sum Assured: ₹10 lakh | PPT: 15 years | Premium: ₹70,000
- At 55: Annual Income ₹80,000 for lifetime.
- At 100: ₹10 lakh + ~₹15 lakh bonus.
👉 ₹55+ lakh benefits against ₹10.5 lakh premium.
Expert Opinions & Analysis
Insurance Advisors:
“LIC Jeevan Umang is the ideal combination of insurance and pension. It provides protection and lifetime income.
Financial Experts:
“The tax-free nature of the IRR (~5–6%) makes it comparable to 7–8% taxable returns in other instruments, despite its modest appearance.”
Market Analysts:
“For conservative Indian investors who appreciate security, guaranteed payouts, and long-term family protection, this plan is ideal.”
Comparison with Other Popular LIC Plans
| Plan Name | Type | Income Benefit | Maturity | Best For |
|---|---|---|---|---|
| Jeevan Umang 745 | Whole Life | 8% SA annually | SA + Bonus at 100 | Lifetime Income |
| Jeevan Anand 915 | Endowment + WL | No | Lump sum + cover | Family Protection |
| Bima Ratna 864 | Money-Back | Fixed term | SA + GA | Milestone Planning |
| Dhan Rekha 863 | Money-Back | Periodic payouts | SA + Loyalty | Conservative Investors |
Key Benefits
- Guaranteed annual 8% Survival Benefit after PPT
- Life cover till 100 years
- Maturity at 100 years with Sum Assured + Bonuses
- Loan facility after 2 years
- Tax-free income under Indian tax laws
- Trusted by LIC of India, with over 30 crore policyholders
FAQs
It offers both lifetime income + insurance cover till age 100, unlike money-back or term plans.
You will receive 8% of Sum Assured every year after completing premium payment. Example: For ₹10 lakh SA, you get ₹80,000 annually.
Yes, Jeevan Umang (Plan 945) is available online through LIC’s new business platform with UPI, net banking, and cards.
Absolutely. It acts like a pension plan with life cover, ideal for retirement security.
Survival Benefit (8% SA) is guaranteed. Bonuses depend on LIC’s performance but historically enhance maturity values significantly.
Yes, under Section 10(10D), all benefits are completely tax-free.
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Ready to Secure Your Family’s Future?
Get your LIC Jeevan Umang 745 policy now to benefit from lifetime income, wealth accumulation, and protection.
Contact your LIC advisor or visit the official LIC website to buy online.