LIC 3G PLAN

 LIC's Three Generation Plan, also known as the Jeevan Umang plan, is a life insurance policy that provides a guaranteed regular income to the policyholder and their family for the duration of the policy. The plan is designed to cover three generations of a family, namely the policyholder, their spouse, and their children.

Under this plan, the policyholder pays premiums for a period of 15, 20, 25, or 30 years, and the policy matures at the end of the premium payment term. The policyholder receives a lump sum amount, which is equivalent to the sum assured, and also receives a regular income in the form of annual or monthly payouts for the rest of their life.

In the event of the policyholder's death, the death benefit is paid to the nominee, which is equivalent to the sum assured plus any accrued bonuses. Additionally, the regular income payments continue to be paid to the spouse and children until the end of the policy term.

The Three Generation Plan is a comprehensive life insurance plan that offers financial security and peace of mind to the policyholder and their family. The plan provides a guaranteed regular income, along with a lump sum payout, which can be used to meet various financial obligations, such as children's education, marriage, or retirement planning.