LIC Jeevan Umang 845 is the original Jeevan Umang whole life plan, withdrawn on 1 February 2020 and replaced by Plan 945. It covers life to age 100 and pays 8% of the sum assured every year after the premium term, plus sum assured and bonuses at 100. At age 30, ₹10 lakh cover with a 20-year premium term costs about ₹50,017 a year.
Jeevan Umang 845 Premium & Benefit Calculator
Your estimate
- Premium per instalment
- ₹50,017
- Premium paying term
- 20 years
- Policy term
- 70 years
- Total premium paid
- ₹10,00,340
- Yearly income starts at age
- 50 years
- Total survival benefits till age 99
- ₹40,00,000
- Estimated maturity amountat age 100: SA + estimated bonus + FAB
- ₹33,08,975
- Total bonus (estimated)
- ₹23,08,975
- Total returns
- ₹73,08,975
- Sum assured on deathplus bonuses accrued; income already paid is not deducted
- ₹10,50,357
- Approx. return (IRR)
- 5.15%
- Total premium paid₹10,00,34012%
- Total survival benefits till age 99₹40,00,00048%
- Estimated maturity amount₹33,08,97540%
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 | ₹50,017 | ₹0 | ₹50,017 | ₹0 |
| 2 | 32 years | ₹50,017 | ₹0 | ₹1,00,034 | ₹0 |
| 5 | 35 years | ₹50,017 | ₹0 | ₹2,50,085 | ₹0 |
| 10 | 40 years | ₹50,017 | ₹0 | ₹5,00,170 | ₹0 |
| 15 | 45 years | ₹50,017 | ₹0 | ₹7,50,255 | ₹0 |
| 20 | 50 years | ₹50,017 | ₹80,000 | ₹10,00,340 | ₹80,000 |
| 21 | 51 years | ₹0 | ₹80,000 | ₹10,00,340 | ₹1,60,000 |
| 25 | 55 years | ₹0 | ₹80,000 | ₹10,00,340 | ₹4,80,000 |
| 30 | 60 years | ₹0 | ₹80,000 | ₹10,00,340 | ₹8,80,000 |
| 35 | 65 years | ₹0 | ₹80,000 | ₹10,00,340 | ₹12,80,000 |
| 40 | 70 years | ₹0 | ₹80,000 | ₹10,00,340 | ₹16,80,000 |
| 45 | 75 years | ₹0 | ₹80,000 | ₹10,00,340 | ₹20,80,000 |
| 50 | 80 years | ₹0 | ₹80,000 | ₹10,00,340 | ₹24,80,000 |
| 55 | 85 years | ₹0 | ₹80,000 | ₹10,00,340 | ₹28,80,000 |
| 60 | 90 years | ₹0 | ₹80,000 | ₹10,00,340 | ₹32,80,000 |
| 65 | 95 years | ₹0 | ₹80,000 | ₹10,00,340 | ₹36,80,000 |
| 70 | 100 years | ₹0 | ₹33,08,975 | ₹10,00,340 | ₹73,08,975 |
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 is LIC Jeevan Umang Plan 845?
LIC Jeevan Umang (Table 845) was the first version of LIC’s Jeevan Umang, a non-linked, with-profit whole life plan. It was withdrawn on 1 February 2020, when LIC moved its products to new regulations. Jeevan Umang 945 replaced it. Many 845 policies are still in force. Holders are now either paying premiums or already receiving their yearly income.
The design is simple. You pay premiums for 15, 20, 25 or 30 years. After that LIC pays 8% of the basic sum assured every year until you reach 99. At 100 the policy matures with the sum assured and bonuses, and life cover continues throughout.
Jeevan Umang 845 at a glance
| Feature | Details |
|---|---|
| Plan / table number | 845 |
| Status | Withdrawn on 1 Feb 2020 |
| Cover | To age 100 (term = 100 − entry age) |
| Premium paying term | 15, 20, 25 or 30 years |
| Entry age | 90 days to 55 years |
| Minimum sum assured | ₹2,00,000 in multiples of ₹25,000 |
| Yearly income | 8% of sum assured after the premium term |
| Modes | Yearly, half-yearly, quarterly, monthly (NACH / salary deduction) |
Eligibility by premium term
| Premium term | Max entry age | Income starts at |
|---|---|---|
| 15 years | 55 | entry age + 15 |
| 20 years | 50 | entry age + 20 |
| 25 years | 45 | entry age + 25 |
| 30 years | 40 | entry age + 30 |
Premium and worked example
Premiums are charged per ₹1,000 of sum assured, mainly by premium term, with a 2% rebate for yearly payment, 1% for half-yearly, and a rebate for large covers.
Example 1: a 30-year-old with ₹10 lakh cover and a 20-year term pays about ₹50,017 a year, or ₹10,00,340 in total. From 50 he receives ₹80,000 every year. The estimated maturity at 100 is about ₹33,08,975 at a ₹45 bonus.
Example 2: a 25-year-old with ₹25 lakh cover and a 30-year term pays about ₹72,050 a year. That totals ₹21,61,500. From age 55 he receives ₹2,00,000 a year, or ₹90 lakh up to age 99.
Tip: if you are already receiving income, the calculator’s year-wise table shows how far total payouts have overtaken what you paid. It is a useful check before any decision to surrender.
Maturity and death benefit
At 100, the policy pays the sum assured + vested simple reversionary bonuses + final additional bonus. The calculator applies your bonus rate during the premium years and a lower rate afterwards, since bonus declarations are not guaranteed.
If the life assured dies at any time, the nominee receives the sum assured on death plus vested bonuses and any final additional bonus. The sum assured on death is at least the basic sum assured and not less than 105% of premiums paid. Yearly income already paid is not deducted.
Loan, surrender and tax
Once the policy has a surrender value, you can borrow against it or surrender it. Early surrender usually returns less than the premiums paid. Estimate it with our surrender value calculator. Premiums qualify for Section 123 of the Income-tax Act, 2025 (earlier Section 80C) deduction under the old regime. The yearly income, maturity and death claim are generally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) if the premium is within the 10%-of-sum-assured limit.
845 vs 945 vs 745
All three versions keep the same promise: 8% yearly income after the premium term, cover to 100, and premium terms of 15 to 30 years. What changed with each relaunch was the premium scale and surrender rules. In our calculator, the 845 premium for the 30-year-old above (₹50,017) is a little below the 945 estimate. Current buyers can only choose Jeevan Umang 745.
How to use this calculator
Enter your entry age, premium term, sum assured and mode from the policy bond. Keep the bonus near ₹45 for a middle estimate. Read the yearly income, total income to 99, maturity at 100 and death benefit. The figures are approximate, and LIC’s policy records are final.
Frequently asked questions
Is LIC Jeevan Umang 845 still sold?
No. Table 845 was withdrawn on 1 February 2020. It was replaced by Jeevan Umang 945, which in turn gave way to Plan 745 in October 2024. Existing 845 policies continue with all their original benefits.
How much yearly income does a Jeevan Umang 845 policy pay?
It pays 8% of the basic sum assured every year once the premium paying term ends, until age 99. On ₹25 lakh cover that is ₹2,00,000 a year; on ₹10 lakh it is ₹80,000 a year.
What is the maturity amount of Jeevan Umang 845?
At age 100, LIC pays the basic sum assured, all vested simple reversionary bonuses and any final additional bonus. With a ₹45 bonus assumption, a ₹10 lakh policy bought at 30 would mature at about ₹33 lakh in our calculator.
What are the entry age limits for Jeevan Umang 845?
The minimum age was 90 days. The maximum was 55 years for a 15-year premium term, 50 for 20 years, 45 for 25 years and 40 for 30 years.
Should I surrender my old Jeevan Umang 845 policy?
Usually not, if premiums are complete or nearly complete. The guaranteed 8% income and the death benefit make the policy more valuable the longer you hold it, while the surrender value is typically well below premiums paid in the early years.
Do I pay GST on Jeevan Umang 845 premiums now?
No. From 22 September 2025, premiums on individual life insurance policies are exempt from GST. Earlier, 4.5% applied in the first year and 2.25% in later years.
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.