The LIC Jeevan Utsav plan gives you money throughout your life and keeps your family protected at the same time. You get the freedom to choose how you want to receive your money in the future.
LIC Jeevan Utsav Maturity Calculator
Year-Wise Policy Details
| Year | Premium Paid | Guaranteed Addition | Income Benefit | Death Benefit | Min GSV | Special SSV | Cumulative Premium |
|---|
Premium Summary (Including GST)
| Particular | Range (₹) |
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Your money comes to you at fixed times without any market risks, and you can trust LIC to keep its word. The plan is designed in a simple way to support Indian families who want a safe future. You do not need to think about market changes because LIC takes care of everything.
Let’s look at what makes this plan special and how it can work for you.
Key Features of LIC Jeevan Utsav
- Two Income Options: Pick between a Regular Income Benefit or a Flexi Income Benefit to tailor the policy to your financial needs.
- Whole Life Insurance: Lifelong coverage that protects you until you reach 100 years of age.
- Guaranteed Additions: Earn guaranteed additions at ₹40 per ₹1,000 Basic Sum Assured during the premium paying term.
- Limited Premium Payment: Pay premiums for a short duration of 5 to 16 years while enjoying lifetime benefits.
- Attractive Rebates: Save on premiums when opting for a higher Basic Sum Assured.
- Loan Facility: Meet urgent financial needs by borrowing against your policy without disrupting its benefits.
- Flexible Purchase Modes: Buy through agents, brokers, or conveniently online to suit your preferences.
Are you looking to explore more LIC plans and calculate their benefits? Check out our range of LIC Premium Calculators below to find the perfect plan for your needs:
- LIC Jeevan Umang Premium Calculator
- LIC Jeevan Utsav Premium Calculator
- LIC Bima Shree Premium Calculator
- LIC Jeevan Tarun Premium Calculator
- LIC Money Back Policy Calculator
- LIC Yuva Term Premium Calculator
Eligibility Criteria
- Minimum Basic Sum Assured: ₹5,00,000.
- Maximum Basic Sum Assured: No upper limit (subject to underwriting).
- Premium Payment Term: Choose between 5 and 16 years.
- Entry Age:
- Minimum: 30 days (for 16-year PPT).
- Maximum: 65 years (varies by PPT).
- Maximum Age at Premium Cessation: 75 years.
- Policy Term: Whole life, with coverage extending until 100 years of age.
Benefits of LIC Jeevan Utsav
1. Death Benefit: In the event of the policyholder’s death after the risk commencement date, the nominee will receive:
- Sum Assured on Death: This is the higher of 7 times the annual premium or the Basic Sum Assured.
- Accrued Guaranteed Additions accumulated until the date of death.
- A minimum payout equal to 105% of all premiums paid, ensuring a secure financial safety net for the family.
2. Survival Benefit: You can select from two payout options to suit your needs:
- Option I – Regular Income Benefit:
- Receive 10% of the Basic Sum Assured every year starting from the 11th policy year or later, depending on the Premium Payment Term (PPT).
- Option II – Flexi Income Benefit:
- Defer income benefits to accumulate at an attractive 5.5% annual compound interest until withdrawal, surrender, or death.
- Withdraw up to 75% of the accumulated benefits in any policy year, allowing flexibility to manage your income as needed.
3. Guaranteed Additions:
- Earn guaranteed additions of ₹40 per ₹1,000 Basic Sum Assured annually during the premium paying term.
- These additions enhance the total benefits available under the policy, offering greater value over time.
4. Maturity Benefit:
- As this is an income-focused plan, there is no separate maturity benefit. The main focus is on providing regular or flexible income throughout the policy term.
Premium Details
Premium Payment Options:
- Yearly, half-yearly, quarterly, or monthly (via NACH), based on your convenience.
Sample Annual Premiums (for Basic Sum Assured of ₹5,00,000):
| Premium Paying Term (Years) | Age 30 (₹) | Age 50 (₹) |
|---|---|---|
| 5 | 1,09,575 | 1,18,625 |
| 8 | 72,600 | 72,600 |
| 12 | 44,250 | 45,225 |
| 16 | 29,900 | 33,475 |
Detailed Illustration Table
Here is a detailed example for a 35-year-old policyholder with a Basic Sum Assured of ₹10,00,000, choosing a 10-year premium paying term under Option I (Regular Income Benefit):
| Policy Year | Annual Premium (₹) | Guaranteed Additions (₹) | Annual Income Benefit (₹) | Death Benefit (₹) |
|---|---|---|---|---|
| 1 | 1,11,050 | 40,000 | 0 | 1,40,00,000 |
| 5 | 1,11,050 | 2,00,000 | 0 | 1,40,00,000 |
| 10 | 1,11,050 | 4,00,000 | 0 | 1,40,00,000 |
| 11 | 0 | 0 | 1,00,000 | 1,40,00,000 |
| 20 | 0 | 0 | 1,00,000 | 1,40,00,000 |
| 30 | 0 | 0 | 1,00,000 | 1,40,00,000 |
| 70 | 0 | 0 | 1,00,000 | 1,40,00,000 |
| 100 | 0 | 0 | 1,00,000 | 1,40,00,000 |
Example Calculation: For a policyholder opting for a Basic Sum Assured of ₹10,00,000 with a 12-year premium term:
- Annual Premium: ₹86,850.
- Guaranteed Additions by Year 12: ₹4,80,000.
- Annual Income Starting Year 15: ₹1,00,000.
- Total Death Benefit in Year 15: ₹1,48,00,000, providing comprehensive financial support to beneficiaries.
Optional Riders
Here are the extra benefits you can add to your plan:
- Extra money for accidents: Your family gets more money if something happens to you in an accident. They also get support if you become disabled.
- Money for accident cover: Your family gets a one-time big payment if you face an accident.
- Life cover bonus: You can add more life cover to protect your family better.
- No payment after death: If something happens to you, LIC will not ask your family to pay any more money. The plan will still work as before.
Surrender and Loan Provisions
Surrender Value:
- The policy acquires a surrender value after paying at least one year’s premium.
- The Guaranteed Surrender Value includes a portion of total premiums paid and accrued Guaranteed Additions.
Loan Facility:
- The plan lets you get a loan after some time. This helps when you need quick money.
- You can take up to 75% of your policy value as a loan. The policy benefits will still work as before.
Why Choose LIC Jeevan Utsav?
- You can choose if you want your income right away or later when you need it.
- You can protect your family’s money needs for their whole life with this plan.
- You will get extra benefits that keep growing over time, making your total amount bigger.
- You can decide how long you want to pay the premiums, and if you take a bigger cover, you will get good discounts too.
- You can trust LIC since they have been helping people like you for many years to keep their money safe and growing.
Conclusion
You can get both regular income and lifetime protection with the LIC Jeevan Utsav plan. You will get many choices in this plan – like how you want your money and when you want to pay your premiums. You can also add extra benefits that match what you need.
You can make your future safe and secure with this plan. Your family will also stay protected. You need not worry about money problems anymore because this plan will take care of everything. You can start this plan today itself and live a tension-free life!
Note: I’ve made it more conversational and used simpler language that’s commonly used in Indian English. Would you like any other changes to make it sound even more natural?
