LIC Jeevan Umang Calculator: Premium, Maturity & Benefits Tool 2026

1. Introduction

The LIC Jeevan Umang Calculator is a vital tool for those seeking lifetime income. Plan 945 is a unique Whole Life Assurance plan that offers 8% guaranteed annual income after the premium payment term ends, continuing until age 100. This calculator allows you to visualize this flow of income and the final maturity amount, making it easier to plan for a secure retirement or leave a legacy.

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2. About the Plan - Key Details

Plan Overview: LIC Jeevan Umang (Plan 945, UIN 512N312V02) is a Non-Linked, Participating, Individual, Life Assurance Savings (Whole Life) Plan. It combines income and protection.

Eligibility: Minimum Entry Age: 90 days. Maximum Entry Age varies by PPT (55 years for 15-year PPT, 40 years for 30-year PPT). Coverage lasts until age 100.

Premium Paying Term (PPT): Options are 15, 20, 25, or 30 years. You pay for a limited time, but benefits last a lifetime.

Sum Assured: Minimum Basic Sum Assured is ₹2,00,000. There is no upper limit.

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3. Key Features & Benefits

Survival Benefit (8% Guaranteed): After the PPT ends, 8% of the Basic Sum Assured is paid annually to the policyholder as long as they are alive, up to age 100. This is tax-free income under current laws.

Maturity Benefit: If the policyholder survives to age 100, the full Basic Sum Assured plus Vested Simple Reversionary Bonuses and Final Additional Bonus is paid.

Death Benefit: If death occurs before commencement of risk, premiums are returned. After commencement, Sum Assured on Death (higher of 7x annual premium or Basic Sum Assured) plus bonuses is paid.

Whole Life Cover: Unlike other plans that expire at 75 or 80, this covers you until 100, providing immense peace of mind.

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4. How to Use the Calculator

The LIC Jeevan Umang Policy Calculator features a user-friendly layout, form on the left and results on the right for quick side-by-side views.

Step 1: Enter Date of Birth

Tap the "Date of Birth" field for the date picker. Pick your precise birth date. It auto-calculates insurance age via LIC's "Age Nearer Birthday" rule. Six months or more past your last birthday? It counts your next age. Say someone is 40 years and 8 months old; they qualify as 41. Validation flags ages outside 90 days to 55 years with a clear red alert.

Step 2: Input Sum Assured

Type your chosen sum assured into the "Sum Assured (₹)" box. Start at ₹2,00,000 minimum, add in ₹1,000 increments. Numeric inputs only. It checks the minimum live. Factor in family needs, retirement spending, debts, and goals when setting it. Note that 8% of this becomes your yearly survival benefit post-premium term.

Step 3: Select Policy Term

Pick from the dropdown: 15, 20, 25, or 30 years for premium paying term. Match this to your age (maturity at 100), budget, and work phase. Young people choose longer terms for lighter premiums. Older people go shorter.

Step 4: Choose Premium Payment Mode

Pick your frequency from four choices: Yearly (One annual payment, cheapest total), Half-Yearly (Two payments every six months), Quarterly (Four installments for cash flow ease), Monthly (Twelve payments like EMIs for simplicity). Mode changes installments but leaves coverage and survival benefits unchanged.

Step 5: Calculate and Analyze Results

Hit the bold "Calculate" button. Backend PHP and LIC rate tables process through database pulls. AJAX loads results without refresh. Outputs cover annual premium, mode installments, total premiums, survival details (8% annually), maturity breakdowns, death figures, and projections. Use "Reset" to test different scenarios freely.