The LIC Jeevan Umang calculator shows the premium, yearly income and maturity of LIC's whole life plan (745, earlier 945 and 845). You pay for 15–30 years, then receive 8% of the sum assured every year until age 99 and a lump sum at 100. A 30-year-old paying for 20 years for ₹10 lakh cover pays ₹53,535 a year and receives ₹80,000 a year from age 50.
Jeevan Umang Premium, Income & Maturity Calculator
Your estimate
- Premium per instalment
- ₹27,267
- Premium paying term
- 20 years
- Policy term
- 70 years
- Total premium paid
- ₹5,45,340
- Yearly income starts at age
- 50 years
- Total survival benefits till age 99
- ₹20,00,000
- Estimated maturity amountat age 100: SA + estimated bonus + FAB
- ₹16,54,488
- Total bonus (estimated)
- ₹11,54,488
- Total returns
- ₹36,54,488
- Sum assured on deathplus bonuses accrued; income already paid is not deducted
- ₹5,72,607
- Approx. return (IRR)
- 4.88%
- Total premium paid₹5,45,34013%
- Total survival benefits till age 99₹20,00,00048%
- Estimated maturity amount₹16,54,48839%
Year-wise premiums and payouts (key years)
| Policy year | Age at entry | Premium paid | Payout | Premium paid so far | Received so far |
|---|---|---|---|---|---|
| 1 | 31 years | ₹27,267 | ₹0 | ₹27,267 | ₹0 |
| 2 | 32 years | ₹27,267 | ₹0 | ₹54,534 | ₹0 |
| 5 | 35 years | ₹27,267 | ₹0 | ₹1,36,335 | ₹0 |
| 10 | 40 years | ₹27,267 | ₹0 | ₹2,72,670 | ₹0 |
| 15 | 45 years | ₹27,267 | ₹0 | ₹4,09,005 | ₹0 |
| 20 | 50 years | ₹27,267 | ₹40,000 | ₹5,45,340 | ₹40,000 |
| 21 | 51 years | ₹0 | ₹40,000 | ₹5,45,340 | ₹80,000 |
| 25 | 55 years | ₹0 | ₹40,000 | ₹5,45,340 | ₹2,40,000 |
| 30 | 60 years | ₹0 | ₹40,000 | ₹5,45,340 | ₹4,40,000 |
| 35 | 65 years | ₹0 | ₹40,000 | ₹5,45,340 | ₹6,40,000 |
| 40 | 70 years | ₹0 | ₹40,000 | ₹5,45,340 | ₹8,40,000 |
| 45 | 75 years | ₹0 | ₹40,000 | ₹5,45,340 | ₹10,40,000 |
| 50 | 80 years | ₹0 | ₹40,000 | ₹5,45,340 | ₹12,40,000 |
| 55 | 85 years | ₹0 | ₹40,000 | ₹5,45,340 | ₹14,40,000 |
| 60 | 90 years | ₹0 | ₹40,000 | ₹5,45,340 | ₹16,40,000 |
| 65 | 95 years | ₹0 | ₹40,000 | ₹5,45,340 | ₹18,40,000 |
| 70 | 100 years | ₹0 | ₹16,54,488 | ₹5,45,340 | ₹36,54,488 |
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What does the Jeevan Umang calculator do?
LIC Jeevan Umang is a with-profit whole life plan with a pension-like income. It works in two phases:
- Paying phase: you pay premiums for 15, 20, 25 or 30 years.
- Income phase: from the end of the paying term, LIC pays 8% of the basic sum assured every year until the policy anniversary before age 100. At 100, the policy matures and pays the sum assured plus bonuses.
Life cover runs for the whole period, so your family is protected even while you receive the income. The plan has had three versions: 845 (the original, sold until early 2020), 945 (February 2020 to 1 October 2024, UIN 512N312V02) and 745, the version on sale today.
The calculator gives the yearly premium, the instalment for your chosen mode, the income amount and when it starts, the total you receive, the maturity value, the death benefit and the IRR. It also builds a year-wise table of the key policy years, with your age, premiums, payouts and running totals. The tool runs each plan’s own calculation, so its figures match the plan pages.
We are an independent site. All figures are estimates; confirm the exact premium with LIC before buying.
How it works
Eligibility
| Premium paying term | Minimum entry age | Maximum entry age | Income starts at (entry age 30) |
|---|---|---|---|
| 15 years | 3 years | 55 | 45 |
| 20 years | 30 days | 50 | 50 |
| 25 years | 30 days | 45 | 55 |
| 30 years | 30 days | 40 | 60 |
For Plan 745 you must be at least 18 when premiums end, which is why the 15-year term starts at age 3. The minimum sum assured is ₹2 lakh and there is no upper limit on cover.
The formula in plain words
- Premium: this tool has no rate table of its own; it runs the same calculation as each plan’s own page. For Plan 745 that follows the sample premiums in LIC’s official brochure: for example ₹11,407 a year for ₹2 lakh cover at age 30 with a 20-year term, reproduced exactly. LIC then deducts a 2% (yearly) or 1% (half-yearly) mode rebate and a high sum assured rebate of ₹2.50 to ₹4 per ₹1,000 from ₹5 lakh cover. There is no GST: individual life insurance premiums became GST-exempt on 22 September 2025. Older receipts showing 4.5% or 2.25% GST relate to the period before that.
- Yearly income: 8% × sum assured, paid from the end of the premium term up to age 99.
- Maturity at 100: sum assured + bonus at your chosen rate for the premium years + about half that rate for the remaining years + a final additional bonus of about 7%. Bonuses are not guaranteed.
- IRR: premiums as money out, income and maturity as money in; the balancing rate is your annual return.
Worked example
A 30-year-old buys Jeevan Umang 745 with ₹10 lakh sum assured and a 20-year premium term, paying yearly. Bonus is set at ₹45.
| Item | Amount |
|---|---|
| Yearly premium | ₹53,535 |
| Total premium (20 years) | ₹10,70,700 |
| Yearly income from age 50 to 99 | ₹80,000 |
| Number of income payments | 50 |
| Total income | ₹40,00,000 |
| Maturity at 100 (₹10 lakh + ₹23.1 lakh bonus) | ₹33,08,975 |
| Total received | ₹73,08,975 |
| IRR | 4.94% a year |
Paying monthly, the instalment is ₹4,558.
A second case: a 40-year-old with ₹5 lakh cover and a 15-year term pays ₹40,105 a year (₹6,01,575 in total). From age 55 she receives ₹40,000 a year, 45 payments worth ₹18 lakh, and the maturity estimate is about ₹14.7 lakh. The IRR is about 5%.
Tip: set the bonus to 0 to see the guaranteed floor. In the first example the IRR only drops to about 4.5%, because the ₹80,000 income does not depend on bonus. Only the amount at age 100 does.
Premium chart (Plan 745, ₹10 lakh)
| Age | 15-year PPT | 20-year PPT | 25-year PPT | 30-year PPT |
|---|---|---|---|---|
| 0 | — | ₹53,535 | ₹38,590 | ₹28,830 |
| 25 | ₹79,210 | ₹53,535 | ₹39,328 | ₹31,168 |
| 30 | ₹79,210 | ₹53,535 | ₹39,475 | ₹31,635 |
Figures for ages below 20 are extended from LIC’s brochure ages, so treat them as estimates.
How to read the results
- Yearly premium and Yearly income are the two headline figures. The note under the income tells you the exact age range.
- Total survival benefits till age 99 is the sum of all income payments. Maturity benefit is what is paid at 100.
- Sum assured on death is the minimum claim; accrued bonuses are added on top.
- Open the year-wise table to see premiums and payouts for the key policy years (the first two, the end of the premium term, every fifth year and the last), with running totals.
- The donut chart compares what you pay with income and maturity. It shows how much of the value comes from the long income stream.
Tips and common mistakes
- Think about who benefits. Much of the value (the maturity at 100 and the later income) usually goes to your children. Umang works well as a legacy and retirement-income plan, less well as a short-term investment.
- Match the income start to retirement. Pick the premium term so the income begins near your planned retirement age.
- Don’t expect high returns. Around 4.5–5% tax-free is a fair expectation. The strength is guaranteed lifelong income plus cover.
- Mind inflation. ₹80,000 a year fixed for 50 years loses buying power steadily. Pair it with growth assets.
- Buy enough cover separately. Death cover starts at the sum assured. A young family usually needs a larger pure term plan too.
Related calculators
- LIC Jeevan Umang Plan 745: full details of the current plan.
- LIC Jeevan Umang Plan 945: for existing policyholders.
- LIC Jeevan Utsav calculator: a newer guaranteed-income alternative.
- LIC pension calculator: if you want income for life from a lump sum.
Frequently asked questions
How much premium for LIC Jeevan Umang with ₹10 lakh sum assured?
For a 30-year-old choosing a 20-year premium term under Plan 745, our calculator shows ₹53,535 a year, based on LIC's published brochure samples. With a 15-year term it is ₹79,210, and with a 30-year term ₹31,635.
How much yearly income does Jeevan Umang pay?
It pays 8% of the basic sum assured every year once the premium paying term ends, until the policy anniversary before age 100. With ₹10 lakh cover that is ₹80,000 a year. The amount is fixed and does not depend on bonus.
What do I get at maturity in Jeevan Umang?
If you live to 100, you get the basic sum assured plus all simple reversionary bonuses and any final additional bonus. With ₹10 lakh cover taken at 30 and a ₹45 bonus while premiums are paid (about half that afterwards, plus a modest final bonus), the estimate is about ₹33.1 lakh.
What is the return (IRR) of Jeevan Umang?
For the 30-year-old example (₹10 lakh, 20-year premium term) the IRR is about 4.9% a year at a ₹45 bonus. Even with zero bonus it is about 4.5%, because the 8% income is guaranteed. The return comes slowly, over many decades.
Is LIC Jeevan Umang 945 still available?
No. Plan 945 was withdrawn on 1 October 2024 and replaced by Plan 745, which keeps the same 8% yearly income and whole life cover to age 100. Existing 945 and 845 policies continue unchanged.
What is the death benefit in Jeevan Umang?
The nominee receives the higher of the basic sum assured or 7 times the annual premium, plus accrued bonuses. It is never less than 105% of premiums paid. Income already received is not deducted from the death claim.
Is Jeevan Umang income taxable?
Premiums qualify for Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in the old regime. Yearly income, maturity and death benefit are generally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) if the premium stays within 10% of the sum assured and the aggregate premium limits for policies issued after April 2023 are respected.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.