About LIC LIC Jeevan Umang Policy Life Insurance
One of the leading life insurance companies in India, LIC or Life Insurance Corporation was founded in the year 1956. LIC is under the management and ownership of the Ministry of Finance and is headquartered in Mumbai. Offering a bunch of life insurance plans, LIC is often the first choice when it comes to buying life insurance plans in India. LIC Jeevan Umang is one of the top-performing plans offered by the company. The LIC Jeevan Umang Plan is a type of non-linked, with-profit, whole-life assurance plan that offers a dual benefit of protection as well as income. So, let’s walk you through the different aspects of the LIC Jeevan Umang Policy premium calculator details in the section below.
Key Inclusions and Exclusions of the Plan
What's Not Included
- There are certain exclusions in the LIC Jeevan Umang Plan. Listed are some of the exclusions of LIC Jeevan Umang Plan: If the policyholder commits suicide during the first 12 months of the policy tenure, then no claims shall be entertained by LIC except for 80% of the premium paid. In case the policyholder is below 8 years, then no claims shall be entertained. If the policy lapses due to failure of paying out the premium and there is no paid-up value-added, then no benefits shall be paid out.
LIC Jeevan Umang User Reviews
Claim Process at LIC of India
Claim IntimationIn the event of the death of the life assured, the insurance company should be intimated as early as possible.
Submission of DocumentsFor easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
Claim EvaluationAfter successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
Claim SettlementIf claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.
FAQs on LIC Jeevan Umang Health Insurance Plan
Does LIC Jeevan Umang Plan offer income benefits?
With the LIC Jeevan Umang Plan, you can get income in the form of annual survival benefits.
Is death benefit offered under LIC Jeevan Umang Plan?
Yes, a death benefit is offered under the LIC Jeevan Umang Plan, if the policyholder dies during the policy term.
Can I get flexible paying terms with LIC Jeevan Umang Plan?
Yes, there are flexible paying terms when you buy LIC Jeevan Umang Plan. You can pay for either 15, 20, 25, or 30 years.
What is the benefit of buying the LIC Jeevan Umang Plan?
You can enjoy the benefits of creating income as well as enjoying life insurance coverage with the LIC Jeevan Umang Plan.
What are the minimum and maximum entry age of the LIC Jeevan Umang Plan?
The minimum and maximum entry age of the LIC Jeevan Umang Plan is 90 days and 55 years respectively.
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