LIC Jeevan Utsav Calculator (Plan 771 / 871)
Official Table No. 771 / 871 (UIN: 512N363V01). Calculate limited pay premiums (5 to 16 Yrs PPT), guaranteed 10% lifelong annual income from deferment to Age 100, ₹40/1k Guaranteed Additions, and whole life protection.
LIC Jeevan Utsav Benefit Summary
Coverage: ₹10,00,000 | Age: 30 Yrs | PPT: 10 Yrs | Lifelong Income: Age 42 to 100
- Total Cumulative 10% Income (till Age 100): ₹59,00,000
- Accrued Guaranteed Additions (₹40/1k/yr for 10 Yrs): ₹4,00,000
- Nominee Death Cover on Demise (Any Age): ₹14,00,000 (100% SA + GA)
- Grand Total Potential Plan Payouts (Income + GA + Cover): ₹73,00,000
Whole Life Cashflow, 10% Guaranteed Income & Cover Schedule (Age to 100)
Visualizing the short premium paying term, exact income deferment milestone, lifelong 10% annual payouts to Age 100, and comprehensive death risk protection.
| Pol. Year | Age | Annual Premium (₹) | Total Invested (₹) | Guaranteed 10% Annual Income | Accrued GA (₹) | Normal Life Cover (₹) | Accidental Cover (₹) | Approx. Loan Value (₹) |
|---|
1. What is LIC Jeevan Utsav (Plan 771 / 871)?
LIC's Jeevan Utsav (Table No. 771 / Table No. 871, UIN: 512N363V01) represents a revolutionary shift in long-term financial security. Designed as a non-linked, non-participating, individual, savings, whole-life insurance plan, Jeevan Utsav eliminates market uncertainty by offering 100% guaranteed lifelong income alongside lifelong life insurance protection up to Age 100.
Unlike traditional participating whole-life plans such as LIC Jeevan Umang (Plan 745 / 945) which offers 8% annual income linked to valuation bonuses, Plan 771 provides a guaranteed 10% of Basic Sum Assured annually and fixed contractual Guaranteed Additions of ₹40 per thousand Sum Assured throughout the Premium Paying Term (PPT).
10% Lifelong Annual Income
Receive 10% of Basic Sum Assured every single year for life starting after the PPT deferment period until age 100, completely tax-free under Section 10(10D).
Contractual ₹40/1k Guaranteed Additions
Guaranteed Additions of ₹40 per ₹1,000 Sum Assured accrue at the end of each policy year throughout the PPT and are payable upon death or maturity.
Ultra-Flexible Limited Pay (5 to 16 Yrs)
Choose your premium paying term from as short as 5 years up to 16 years, tailoring your contribution period to your peak earning years.
Flexi Income Option (5.5% Compound Interest)
Opt to defer your 10% income to accumulate at 5.5% p.a. compound interest with on-demand annual withdrawals of up to 75%.
2. Key Plan Eligibility Parameters & Underwriting Rules
Verify your eligibility for LIC Jeevan Utsav against the official underwriting standards:
| Parameter | Official Rule (Plan 771 / 871) | Guidelines & Notes |
|---|---|---|
| Policy Term | Whole Life (to Age 100) | Provides uninterrupted lifelong risk cover up to 100 years. |
| Premium Paying Terms (PPT) | 5 to 16 Years (Limited Pay) | Choose any duration between 5 and 16 years. |
| Minimum Age at Entry | 90 Days (Completed) | Ideal for parents building lifelong pension security for minor children. |
| Maximum Age at Entry | 65 Years (for 5 PPT) 60 Years (for 10 PPT) 54 Years (for 16 PPT) |
Maximum age at PPT completion is 75 years. |
| Minimum Basic Sum Assured | ₹5,00,000 (5 Lakhs) | Available in multiples of ₹25,000 thereafter. |
| Maximum Basic Sum Assured | No Upper Limit | Subject to financial underwriting and income capacity (ITR). |
| Guaranteed Income Rate | 10% of Basic Sum Assured per year | Contractual guarantee payable from deferment age to Age 100. |
| Guaranteed Additions | ₹40 per ₹1,000 SA per year | Accrues at the end of each policy year during the PPT. |
3. Income Timing & Deferment Schedule Breakdown
The commencement of the guaranteed 10% annual income depends on the selected Premium Paying Term:
| Premium Paying Term (PPT) | Income Deferment Period | First 10% Income Payment Timing |
|---|---|---|
| 5 to 8 Years PPT | 3 Years Deferment | End of (PPT + 3) Policy Years (e.g. 5 PPT = End of Yr 8) |
| 9 Years PPT | 2 Years Deferment | End of 11th Policy Year (PPT + 2) |
| 10 Years PPT | 2 Years Deferment | End of 12th Policy Year (PPT + 2) |
| 11 to 16 Years PPT | 1 Year Deferment | End of (PPT + 1) Policy Year (e.g. 15 PPT = End of Yr 16) |
4. Mathematical Case Study: ₹10,00,000 Sum Assured at Age 30 (10 PPT)
Consider a 30-year-old professional investing in a ₹10,00,000 (10 Lakhs) Basic Sum Assured under a 10-Year PPT:
- Premium Paying Period: Age 30 to Age 39 (10 Years).
- Approx. Annual Premium (Yr 1 incl. GST): ~₹1,08,500.
- Total Premiums Paid (10 Yrs): ~₹10,62,000.
- Guaranteed Additions Accrued (₹40 × 1,000 × 10 Yrs): ₹4,00,000.
- Income Start Age: Age 42 (End of 12th policy year).
- Guaranteed Annual Income (Age 42 to 100): ₹1,00,000 every single year for 59 years!
- Total Lifelong Income Payouts (59 Years): ₹59,00,000 (59 Lakhs).
- Nominee Death Benefit at Any Age: Full Sum Assured (₹10,00,000) + Accrued GA (₹4,00,000) = ₹14,00,000.
- Grand Total Returns (Income + Death Cover): ₹73,00,000 (Over 6.8x Total Investment!)
5. Strategic Comparison: Jeevan Utsav (771) vs. Jeevan Umang (745)
| Parameter | LIC Jeevan Utsav (Plan 771) | LIC Jeevan Umang (Plan 745 / 945) |
|---|---|---|
| Annual Survival Income Rate | 10% of Basic Sum Assured | 8% of Basic Sum Assured |
| Return Nature | 100% Contractually Guaranteed | Guaranteed Income + With-Profits Bonus |
| Guaranteed Additions | Fixed ₹40 per ₹1,000 SA per year | Simple Reversionary Bonus (Market-linked) |
| PPT Options | 5 to 16 Years (Short PPT available) | 15, 20, 25, 30 Years |
| Flexi Income Deferment | Yes (Accumulates @ 5.5% compound interest) | No (Mandatory annual payout) |
| Minimum Sum Assured | ₹5,00,000 (5 Lakhs) | ₹2,00,000 (2 Lakhs) |
6. High Sum Assured Rebates & Modal Discounts
Substantial tabular premium rebates are offered for higher Sum Assured policies:
- ₹5,00,000 to ₹9,75,000: Nil rebate
- ₹10,00,000 to ₹24,75,000: ₹2.00 to ₹3.50 per ₹1,000 SA discount
- ₹25,00,000 to ₹49,75,000: ₹3.00 to ₹5.00 per ₹1,000 SA discount
- ₹50,00,000 & Above: ₹3.50 to ₹6.00 per ₹1,000 SA discount (Maximum)
7. Surrender Value, Loan Facility & Paid-Up Provisions
Loan Availability: Policy loans can be availed after completing 2 full policy years of premium payment.
- In-Force Policies: Loan up to 90% of the surrender value.
- Post-PPT Loan Convenience: Loan interest can be automatically serviced through the annual 10% income disbursements!
- Paid-Up Policy: If premiums stop after 2 years, the policy acquires paid-up status with reduced proportional annual income and life cover.
8. Step-by-Step 100% Paperless Digital Onboarding
Secure your LIC Jeevan Utsav (Plan 771 / 871) policy completely online without branch visits:
- Simulate Cashflows: Use our live calculator above to customize your Sum Assured and PPT.
- Connect with Verified Advisor: Click WhatsApp or call +91 8419943250 (Agent Code: LIC10031212, Lalkuan Branch, Uttarakhand).
- Instant e-KYC: Complete Aadhaar & PAN verification securely.
- Direct Online Payment: Pay directly via official LIC gateway with instant official receipt.
- Speed Post Delivery: Receive digital policy bond in DigiLocker and physical bond at your doorstep.