Invest ₹5,000 Monthly In This LIC Policy, Here’s What You Could Get Till Age 100

The LIC Jeevan Umang policy offers a combination of life insurance protection and annual survival benefits after the premium-paying term ends. This whole-life insurance policy can cover the policyholder up to the age of 100, barring any policy conditions. Policyholders can select a premium-paying term of 15, 20, 25 or 30 years, after which they won't need to make further premium payments.

The annual survival benefit is 8% of the Basic Sum Assured and is paid out each year until the policyholder's death or until the age of 100 is reached, whichever comes first. The policy also provides death and maturity benefits, should the policyholder survive to the maturity age. The example given is of a person at age 30 buying the policy with a 20-year premium-paying term and a ₹10 lakh Basic Sum Assured.

This would result in a monthly premium of around ₹5,000 or approximately ₹60,000 annually. Assuming an 8% annual survival benefit, the policyholder would receive ₹80,000 per year after the premium-paying term ends. The actual premiums and benefits may vary based on factors such as age, Basic Sum Assured, premium mode, and other policy terms.