LIC Jeevan Umang Plan 745 Calculator

Important Note About Bonuses in LIC Jeevan Umang Plan 745

The bonuses under LIC Jeevan Umang Plan 745 are not guaranteed. These bonuses are declared by Life Insurance Corporation of India from time to time based on the corporation’s performance and surplus earnings. Therefore, actual bonus amounts may vary depending on LIC’s annual declarations.

LIC Jeevan Umang Plan 745 Calculator

The LIC Jeevan Umang Plan 745 Calculator is a helpful financial planning tool that allows policyholders and interested buyers to estimate important policy details such as:

• Premium payable
• Survival benefits
• Death benefits
• Maturity value
• Bonus estimates

The calculator simplifies policy planning by providing quick and transparent benefit projections based on user inputs.

Introduction to LIC Jeevan Umang Plan 745

LIC Jeevan Umang Plan 745 is a whole-life insurance policy offered by Life Insurance Corporation of India. The plan combines life insurance protection with regular annual income benefits, making it suitable for individuals looking for both security and long-term financial support.

This policy is designed to provide:

• Lifelong insurance protection
• Annual survival benefits after premium payment completion
• Lump sum maturity benefits at the age of 100 years or on survival till maturity
• Financial security for family members in case of the policyholder’s death

LIC Jeevan Umang Plan 745 is often considered a combination of savings, pension-like income, and whole-life insurance protection under a single plan.

What Is the LIC Jeevan Umang Plan 745 Calculator?

The LIC Jeevan Umang Plan 745 Calculator is an online financial planning tool that helps users estimate policy premiums, annual income benefits, maturity value, and death benefits under the LIC Jeevan Umang policy.

Using this calculator, policyholders can:

• Estimate premium amounts based on age, sum assured, and premium payment term
• View annual survival benefits payable after completion of the premium-paying period
• Calculate estimated maturity value including bonus projections
• Understand death benefit coverage available for nominees

The calculator simplifies insurance calculations and helps users make better long-term financial decisions with greater transparency.

Major Features of LIC Jeevan Umang Plan 745

Whole Life Insurance Protection

The policy provides life insurance coverage up to 100 years of age.

Limited Premium Payment Option

Policyholders can choose premium payment terms of:

• 15 years
• 20 years
• 25 years
• 30 years

After completion of the premium-paying term, no further premiums are required while policy benefits continue.

Guaranteed Annual Income

Once the premium payment term ends, the policyholder receives 8% of the Basic Sum Assured every year as a survival benefit.

Bonus Participation

The policy participates in LIC’s profits and may receive:

• Simple Reversionary Bonus
• Final Additional Bonus

These bonuses are non-guaranteed and depend on LIC’s annual declarations.

Family Financial Protection

In case of the policyholder’s death, the nominee receives death benefits along with applicable bonuses.

Tax Benefits

Premiums paid and benefits received may qualify for tax benefits under prevailing income tax laws.

Loan and Surrender Facility

• Loan facility generally becomes available after one policy year
• Policy surrender option is also available subject to policy conditions

Flexible Premium Payment Modes

Premiums can be paid through:

• Monthly
• Quarterly
• Half-yearly
• Yearly payment modes

Advantages of Using LIC Jeevan Umang Plan 745 Calculator

Easy Financial Planning

The calculator removes the need for complicated manual calculations.

Flexible Customisation

Users can compare different combinations of:

• Sum assured
• Entry age
• Premium payment term

Better Transparency

The calculator provides a clear understanding of premium obligations and expected returns.

Long-Term Financial Confidence

Policyholders can plan future income and financial security more effectively using realistic benefit projections.

How LIC Jeevan Umang Calculator Works

Step 1: Enter Policy Information

The user needs to provide:

• Entry age
• Basic Sum Assured
• Premium Payment Term (15, 20, 25, or 30 years)
• Premium payment frequency

Step 2: Premium Estimation

Based on LIC premium rates, the calculator estimates:

• Yearly premium
• Half-yearly premium
• Quarterly premium
• Monthly premium

Applicable GST charges may also be included.

Step 3: Survival Benefit Calculation

After completion of the premium payment term, the policyholder receives annual survival benefits equal to 8% of the Basic Sum Assured.

Example Calculation

If the Basic Sum Assured is ₹10,00,000:

$8$8%×10,00,000=80,000

This means the annual survival benefit becomes ₹80,000 per year.

Step 4: Maturity Benefit Estimation

If the policyholder survives until age 100, the maturity benefit includes:

• Basic Sum Assured
• Vested Bonuses
• Final Additional Bonus (if applicable)

Step 5: Death Benefit Estimation

In case of the policyholder’s death during the policy period, the nominee receives the higher of:

• 7 times the annual premium, or
• Basic Sum Assured

along with applicable bonuses.

Step-by-Step Guide to Use LIC Jeevan Umang Calculator

Step 1: Open a Trusted LIC Calculator

Visit an official LIC website or trusted insurance calculator platform.

Step 2: Enter Required Details

Fill in:

• Age
• Sum Assured
• Policy Term
• Premium Payment Term

Step 3: Choose Premium Frequency

Select yearly, half-yearly, quarterly, or monthly payment mode.

Step 4: Click “Calculate”

The calculator displays:

• Premium details
• Survival benefit schedule
• Maturity projections
• Death benefit estimates

Helpful Tip

Compare multiple combinations of age, sum assured, and premium term to select a policy structure suitable for your financial goals and budget.

Sample Calculation of LIC Jeevan Umang Plan 745

Let’s understand the policy with a practical example.

Example Details

• Name: Dev
• Age: 30 years
• Sum Assured: ₹10,00,000
• Premium Payment Term: 20 years

Estimated Results

• Annual Premium: Approximately ₹54,036 including first-year GST
• Total Premium Paid: Approximately ₹10,80,720 over 20 years

Annual Survival Benefit

After completion of the premium-paying term:

• ₹80,000 every year from Year 21 until age 100

Maturity Benefit

If Dev survives until age 100:

• ₹10,00,000 Basic Sum Assured
• Applicable Bonuses

This example shows how LIC Jeevan Umang Plan 745 can provide long-term annual income along with whole-life insurance protection and maturity benefits.

Eligibility Criteria for LIC Jeevan Umang Plan 745

Before purchasing the policy, it is important to understand the eligibility conditions and policy limits of LIC Jeevan Umang Plan 745 offered by Life Insurance Corporation of India.

Criteria	Details
Minimum Entry Age	30 days
Maximum Entry Age	55 years
Minimum Sum Assured	₹2,00,000
Maximum Sum Assured	No limit
Premium-Paying Terms	15, 20, 25, or 30 years
Maximum Policy Coverage	Up to 100 years of age

Types of Benefits Under LIC Jeevan Umang Plan 745

1. Survival Benefits

The policy provides annual survival benefits after completion of the premium-paying term.

Annual Survival Benefit Structure

• 8% of the Basic Sum Assured is paid every year
• Benefits start from the next policy anniversary after completion of the premium-paying term
• Payments continue until the policyholder reaches 100 years of age

Example

If the Basic Sum Assured is ₹10,00,000:

$8$8%×10,00,000=80,000

The annual survival benefit becomes ₹80,000 every year.

If the policyholder dies before the maturity age, future survival benefits stop.

2. Maturity Benefit

If the life assured survives until age 100, the policy pays:

• Basic Sum Assured
• Vested Simple Reversionary Bonuses
• Final Additional Bonus (if applicable)

3. Death Benefit

If the policyholder dies before age 100 while the policy remains active, the nominee receives:

• Sum Assured on Death
• Vested Bonuses
• Final Additional Bonus (if applicable)

Sum Assured on Death

The death benefit is generally the highest of:

• 7 times the annualised premium
• 105% of total premiums paid
• Basic Sum Assured

Bonus Structure in LIC Jeevan Umang Plan 745

Simple Reversionary Bonus

This bonus may be added annually based on LIC’s declared profits.

Final Additional Bonus (FAB)

FAB may be payable at the time of:

• Death claim
• Maturity claim
• Surrender claim

subject to policy conditions and minimum policy duration.

Bonus amounts are not guaranteed and depend on LIC’s future financial performance.

Premium Rebates Available

Mode Rebate

Policyholders may receive rebates based on premium payment frequency:

• Yearly Mode: 2% rebate
• Half-yearly Mode: 1% rebate

High Sum Assured Rebate

Additional premium discounts may apply for higher sum assured amounts.

Loan Facility, Surrender Value, and Paid-Up Benefit

Loan Facility

A loan can generally be availed after payment of at least one full year’s premium.

Surrender Value

If the policy is surrendered after the minimum required period, the policyholder may receive:

• Guaranteed Surrender Value, or
• Special Surrender Value

whichever is higher.

Paid-Up Value

If premium payments are stopped after paying the minimum required premiums, the policy may continue as a paid-up policy with reduced benefits.

Optional Riders Available in LIC Jeevan Umang Plan 745

For enhanced protection, the following optional riders may be available:

• Accidental Death & Disability Rider
• Accidental Benefit Rider
• New Term Assurance Rider
• Critical Illness Rider

These riders increase insurance coverage but may also increase the premium payable.

Advantages of LIC Jeevan Umang Plan 745 Calculator

Instant Calculations

The calculator quickly estimates premiums and policy benefits.

User-Friendly Interface

Simple inputs make the tool easy for most users to understand and operate.

Better Financial Planning

Users get a realistic estimate of long-term premium commitments and future returns.

Improved Transparency

The calculator helps policyholders clearly understand survival benefits, maturity value, and death coverage before investing.

How LIC Jeevan Umang Calculator Helps Policyholders

The LIC Jeevan Umang Plan 745 Calculator can help users:

• Make informed insurance decisions
• Estimate premiums for different policy combinations
• Plan retirement income through annual survival benefits
• Understand possible maturity and death benefit projections including bonuses

Tips for Using LIC Jeevan Umang Calculator Effectively

Verify All Inputs Carefully

Always enter the correct:

• Age
• Premium-paying term
• Sum assured

to get more accurate estimates.

Compare Multiple Scenarios

Test different combinations of premium terms and sum assured amounts to find the most suitable plan.

Focus on Long-Term Benefits

The policy is designed mainly for long-term income and lifelong protection.

Consult an LIC Advisor

Use the calculator for estimates, but discuss final decisions with a certified LIC advisor or branch representative.

Use Updated Calculators

Premium rates and bonus assumptions may change over time, so always use updated calculator tools.

Limitations of LIC Jeevan Umang Plan 745 Calculator

Although the calculator is useful for planning, users should remember:

• Bonus estimates are not guaranteed and depend on LIC’s future profits
• Inflation and future tax law changes are generally not considered
• Missed premiums or early surrender may significantly reduce policy benefits

These points should always be considered before making long-term financial commitments under LIC Jeevan Umang Plan 745.

FAQs – LIC Jeevan Umang Plan 745 Calculator

Is the LIC Jeevan Umang calculator free to use?

Yes, nearly all reputable insurers, agents, and LIC’s official website offer it for free.

Can the calculator give an exact bonus value?

No, the calculator can only provide estimated bonuses as per past declared rates; actual bonuses depend on future LIC performance.

Is there any eligibility to use the calculator?

Anyone interested in the plan can use the calculator; just provide an age within the 30-day to 55-year range and select an eligible sum assured.

Does survival benefit start immediately?

No, survival benefits start after the premium payment term ends (for example, after 20 years if you choose a 20-year PPT).

Can I change my premium paying term later?

No, once selected and the policy is issued, the premium term cannot be changed.

Are there any charges for surrendering the policy?

Yes, surrender value is calculated as per LIC’s rules, and you’ll usually get less than the total premiums paid, especially if surrendered early.

What happens if the policyholder survives till 100 years?

At age 100, the policy matures, and the sum assured plus accumulated bonuses is paid to the policyholder.

Conclusion

The LIC Jeevan Umang Plan 745 Calculator is a user-friendly tool that helps buyers and existing policyholders clearly understand their premium obligations, survival benefits, and maturity/death payouts. Jeevan Umang 745 is special because it combines lifelong protection, annual income, and participation in LIC’s bonuses, making it an ideal choice for long-term family security and retirement planning.

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