LIC Jeevan Umang Calculator (Estimate)
Enter your details to estimate premium, annual survival benefit, and projected maturity value for LIC Jeevan Umang.
Note: This is an educational estimate. Actual LIC premium/benefits depend on insurer rates, underwriting, GST, and declared bonuses.
What is LIC Jeevan Umang?
LIC Jeevan Umang is a whole-life participating insurance plan with a limited premium-paying period. In simple terms, you pay premium for a fixed number of years, then receive annual survival benefits, while life cover continues up to age 100.
This makes it popular among people looking for a combination of insurance protection, periodic income, and long-term corpus planning.
How this Jeevan Umang LIC calculator helps
This calculator is designed to give a practical projection before you contact an LIC advisor. It provides:
- Estimated annual premium based on age and premium term
- Installment premium based on payment mode
- Annual survival benefit (8% of Basic Sum Assured)
- Total survival benefits from payout start age to age 100
- Projected maturity value using an assumed bonus rate
- A rough return multiple compared with total premiums paid
Inputs explained
1) Basic Sum Assured
This is the core insured amount on which survival benefits and many policy benefits are calculated.
2) Entry Age
Your age at policy start influences premium. Usually, lower entry age means lower premium for the same sum assured.
3) Premium Paying Term (PPT)
Jeevan Umang allows limited premium payment duration (such as 15, 20, 25, or 30 years). After this period, premiums stop and annual survival payouts begin.
4) Bonus assumption
Because this is a participating plan, bonuses are declared by LIC and are not guaranteed. The calculator uses your selected bonus assumption to estimate maturity value.
Formula snapshot used in this tool
- Estimated Annual Premium = (Sum Assured / 1000) × estimated rate
- Annual Survival Benefit = 8% × Basic Sum Assured
- Survival Benefit Years = 100 − (Entry Age + PPT), if positive
- Total Survival Benefit = Annual Survival Benefit × Survival Benefit Years
- Projected Bonus = (Bonus Rate/1000) × Sum Assured × (100 − Entry Age)
- Projected Maturity Value = Basic Sum Assured + Projected Bonus
Example scenario
If someone enters at age 30 with ₹10 lakh sum assured and chooses 20-year premium paying term, annual payout starts at age 50. They may receive 8% of ₹10 lakh (₹80,000) every year until age 100, plus maturity value at age 100 (subject to applicable rules and bonuses).
The exact premium and final benefits will vary, but this estimate gives a strong first-level planning view.
Important assumptions and limitations
- Premium rates shown are approximate for learning use.
- GST, rider costs, medical loading, and modal factors in real proposals may differ.
- Bonus rates are not guaranteed and depend on LIC declarations.
- Death benefits can vary by policy year and conditions; always verify in benefit illustration.
Who should use this calculator?
This tool is useful for salaried individuals, business owners, and families who want to compare insurance-plus-income plans and estimate affordability before buying. It is especially useful when comparing Jeevan Umang with alternatives like term insurance + SIP strategy, endowment plans, or annuity products.
Quick FAQ
Is this an official LIC calculator?
No. It is an independent educational calculator and not an official LIC premium quotation system.
Can I rely on this to buy immediately?
Use it for planning. Final decision should be based on official LIC benefit illustration and advisor guidance.
Why include bonus as an input?
Bonus rates change over time. Adjustable bonus helps you test conservative and optimistic scenarios quickly.