LIC’s Jeevan Umang is a savings-cum-protection product which is non-linked & participating in nature. It means LIC promises you some guaranteed growth on your investments + periodical bonuses depending on LIC’s financial performance + term insurance.

I usually don’t like such products as they neither offer very good return on your investments nor do they offer sufficient life cover. Wouldn’t buy them for myself!

Better is to buy a pure term insurance + invest your money in mutual funds.

However, every individual’s risk appetite & needs are different. You should consult a certified financial advisor to understand what works best for you. It would be unfair for us to comment on your portfolio needs here. Thanks