Certainly! Here's an overview of LIC's whole life insurance plans:

1. LIC Jeevan Umang (745):

2. Jeevan Umang is a whole life insurance plan offered by LIC.

3. It provides a combination of protection and savings.

4. The policy offers a regular income payout throughout the lifetime of the policyholder, along with a lump sum payment at maturity or death.

5. The policy continues to provide coverage even after the premium payment term ends.

6. The policyholder can choose the premium payment term, which typically ranges from 15 to 25 years.

7. In case of death during the policy term, the nominee receives the death benefit, which includes the sum assured along with bonuses accrued till the time of death.

8. The policy also provides a guaranteed addition of 8% of the basic sum assured for the first 5 policy years and a loyalty addition payable at maturity or death.

9. Premiums paid towards the policy are eligible for tax benefits under Section 80C of the Income Tax Act, 1961, and the proceeds received under the policy are tax-free under Section 10(10D) of the Income Tax Act, subject to the conditions specified therein.

10. LIC Jeevan Utsav (771):

11. Jeevan Utsav is a single premium whole life insurance plan offered by LIC.

12. It provides a lump sum payment at maturity or death.

13. The policy offers the flexibility to choose the premium payment term, which can range from 5 to 10 years.

14. The policyholder receives a guaranteed addition of Rs. 75 per thousand basic sum assured at the end of each policy year for the first 5 years.

15. Additionally, the policy also offers a loyalty addition payable at maturity or death.

16. In case of death during the policy term, the nominee receives the sum assured along with bonuses accrued till the time of death.

17. Premiums paid towards the policy are eligible for tax benefits under Section 80C of the Income Tax Act, 1961, and the proceeds received under the policy are tax-free under Section 10(10D) of the Income Tax Act, subject to the conditions specified therein.

These whole life insurance plans offered by LIC provide financial security and long-term savings, ensuring that policyholders and their families are protected against life's uncertainties while building a corpus for the future. It's essential to carefully review the policy documents and consult with an LIC agent or financial advisor to choose the plan that best suits your financial goals and requirements.

Certainly! Here's an overview of LIC's whole life insurance plans