Financial Freedom for Women


LIC’s Jeevan Umang for Women

      Modern women are now a primary breadwinner in many Indian households. We can see women shattering glass ceilings in many fields. Yet, women still face unique challenges like balancing successful careers and family with many obstacles. Though she dons different hats in a day, very few women make independent decisions when it comes to “money matters”. Though a woman is known for her money management skills from times immemorial of running a household, when it comes to investment planning they tend to shy away. So here is a little hand holding to achieve the financial independence.

     Jeevan Umang, is one such plan which helps you achieve financial freedom even in your advanced years. Jeevan Umang offers 8% of sum assured every year as a guaranteed money for your life time. Being a woman, this plan offers you safety for life time with assured.

Jeevan Umang Sample Illustration

Let us see how this plan can benefit Ms.Shalini aged 25 years. Shalini is working since 2 years and unmarried. Shalini’s plans to invest in a good life insurance plan, a Tax Saving plan, a good returns on investment plan and also plan for her pension. But planning for all these in the beginning of her career is also a big step for her since it requires her to make make multiple investments and may lock the amount for a longer period.

Then Shalini reaches out to to assist her with the investment plan. She was informed and explained about LIC Jeevan Umang. Shalini was very glad that all her needs are being met in a single plan.

Jeevan Umang offers a life long security until 100 years.

The premium paid helps Shalini save Tax under Income Tax Section 80c.

Jeevan Umang offers insurance cover along with Accidental and Disability Benefit.

You can start receiving pension for life time by as little as 15 years of investment.

You can sit back and relax as you will be receiving a fixed Guaranteed Pension for your lifetime.

Unlike other investment or pension plans, the pension you get will be tax free under Income tax section 10(10D).

Your Life is also covered, so that in case of your death your nominee will receive a lumpsum amount as settlement. This means your life is covered while you are paying the premium and also when you will be receiving your pension. So a safety net for your loved ones even in your absence.

Let us look at an Example: Shalini aged 25 years opts for LIC Jeevan Umang with a premium payment term of 15 years and a Sum Assured of 10 Lakhs. Here is the list of benefits she’ll be receiving

  • Yearly Premium: 78594
  • Life Cover: 10 Lakhs
  • Accidental Death Cover: 10 Lakhs
  • Total Life Cover starting with 20 Lakhs
  • Approximate Tax saved every years(30% Slab) 24639
  • Total premium paid over 15 years: 12,07,199
  • Pension from age 40 to lifetime: Guaranteed 80,000 (Tax free)
  • Approximate Return at age 100 on survival: 1,05,25,000 (Tax free)

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