LIC Jeevan Utsav – A Lifetime Celebration of Guaranteed Income and Security

Life Insurance Corporation of India (LIC), the country’s most trusted insurer, has introduced LIC Jeevan Utsav (Plan No. 871, UIN: 512N362V01) – a non-linked, non-participating, individual, whole life insurance plan that offers guaranteed income and financial protection for life. Designed to ensure long-term financial independence, this plan helps you celebrate life’s milestones with assured benefits throughout your lifetime.

Key Features of LIC Jeevan Utsav

1. Lifetime Coverage
   The plan provides whole life coverage up to age 100 years, ensuring lifelong protection for you and your family.
2. Guaranteed Income for Life
   After the Premium Paying Term (PPT) ends, you start receiving Guaranteed Income Benefits every year till you turn 100.
   • Choice of Regular Income Benefit (Guaranteed Income Option) or
   • Flexi Income Benefit, allowing you to accumulate and withdraw benefits as needed.
3. Flexible Premium Paying Terms
   You can choose from flexible premium payment options – 5, 6, 8, 10, 12, 15, or 16 years, based on your financial goals and convenience.
4. Guaranteed Additions
   During the premium paying term, the plan accumulates Guaranteed Additions at a fixed rate per ₹1,000 Sum Assured, enhancing the policy’s overall value.
5. Choice of Income Options
   • Regular Income Benefit: A fixed percentage of Basic Sum Assured is paid every year after PPT till age 100.
   • Flexi Income Benefit: Benefits can be accumulated with interest and withdrawn anytime during the policy term.
6. Financial Protection for Family
   In case of unfortunate demise during the policy term, the Sum Assured on Death plus accrued benefits are paid to the nominee.
7. Loan Facility
   Policyholders can avail loans against the policy once it acquires a surrender value, providing liquidity when needed.
8. Tax Benefits
   Premiums paid qualify for tax deduction under Section 80C, and maturity or death benefits are tax-free under Section 10(10D) (subject to prevailing tax laws).

Eligibility Criteria

Why Choose LIC Jeevan Utsav?

• Lifetime Guaranteed Income – a steady source of income post PPT.
• Assured Additions – ensures predictable growth.
• Flexibility & Liquidity – freedom to withdraw or accumulate income.
• Trusted by Millions – from India’s most reliable insurer, LIC.
• Ideal for: Retirement planning, family protection, and creating lifelong income flow.

Example Illustration

If you choose a Basic Sum Assured of ₹10,00,000 with a PPT of 10 years, you pay premiums for 10 years and then start receiving guaranteed annual income every year till age 100. Along with that, your family continues to enjoy life cover protection throughout your lifetime.