Calculate your single premium & benefits for LIC's Jeevan Utsav (Plan 771, UIN: 512N338V01) — a Non-Par Whole Life plan with Guaranteed Additions and lifelong 10% annual income after the GA period.
| Year | Age | Cum. GA | Annual Income | Opt II Balance | Death Benefit |
|---|
LIC's Jeevan Utsav (Plan 771, UIN: 512N338V01) is a Non-Participating, Non-Linked, Individual Savings Whole Life Plan with a one-time single premium. It's LIC's only non-par whole life single premium plan that combines guaranteed additions with lifelong annual income.
Unlike participating plans (e.g., Jeevan Umang, Bima Shree) where bonuses depend on LIC's annual surplus declarations, Jeevan Utsav offers fully guaranteed benefits: the Guaranteed Addition of ₹40 per ₹1,000 BSA per year is contractually fixed at policy inception and is not subject to any actuarial review or market performance.
The plan suits investors who want: (a) a one-time investment for guaranteed long-term income, (b) whole life insurance cover, and (c) certainty over actual returns without depending on bonus declarations.
Step 1 — Pay Once: You pay a single premium at policy inception based on your age, BSA, and chosen GA period. No further premiums are ever due.
Step 2 — Earn GA: During the GA period (7–17 years of your choice), ₹40 per ₹1,000 BSA is credited every year as Guaranteed Additions. These accrue whether or not you survive the year — on death during this period, full accrued GA is paid as part of the death claim.
Step 3 — Receive Annual Income: Starting from the year after the GA period ends, 10% of BSA is payable every year till age 100 under Option I. Under Option II, this amount accumulates at 5.5% p.a. compounded — and you can withdraw up to 75% of the accumulated balance once per year.
Step 4 — Maturity at 100: On survival to age 100, you receive the higher of BSA or 1.25× tabular single premium, plus all accrued GA, plus Option II balance (if any).
No bonus dependency. Guaranteed Additions of ₹40/₹1,000 BSA/yr are contractually fixed. Your income is certain from day one.
Choose GA period of 7 to 17 years. Shorter GA = higher premium but earlier income. Longer GA = lower premium but income starts later.
After GA period, 10% of BSA is paid every year — significantly higher than FD rates for many age+BSA combinations at current premium levels.
Option II accumulates your annual income at 5.5% p.a. compounded. Withdraw up to 75% of balance once per year. Unpaid amount paid on death/maturity.
Purchase online (through LIC portal or authorised digital channels) and get an additional 2% rebate on the tabular premium.
Online (2%), High SA Rebate (age + BSA based, up to ₹21/₹1,000), and Existing Policyholder Rebate (₹0.80–₹1.00/₹1,000 BSA). All can stack.
Policy loan available after just 3 months from policy issue. Loan limits vary by GA period. Interest capped at 50% of annual income benefit.
Since September 2025, all individual life insurance premiums are GST-exempt. The quoted net premium is your final cost — no additional tax.
| Feature | Option I — Regular Income | Option II — Flexi Income |
|---|---|---|
| Annual Amount | 10% of BSA per year | 10% of BSA credited per year |
| Payout Method | Direct cash payment yearly | Accumulates at 5.5% p.a. |
| Flexibility | Fixed annual payout | Withdraw up to 75% once/year |
| On Death | No further income | Accumulated balance paid to nominee |
| On Maturity | SA + GA only | SA + GA + accumulated balance |
| Best For | Regular retirement income needs | Lump sum accumulation + flexibility |
| GA Period | Income Starts | GA Years | Premium Trend |
|---|---|---|---|
| 7 years | Year 8 | 7 | Highest |
| 10 years | Year 11 | 10 | Medium-High |
| 12 years | Year 13 | 12 | Medium |
| 15 years | Year 16 | 15 | Medium-Low |
| 17 years | Year 18 | 17 | Lowest |
| Age at Entry | BSA ₹5L–₹9.75L | BSA ₹10L–₹24.5L | BSA ₹25L–₹49.5L | BSA ₹50L+ |
|---|---|---|---|---|
| 0–20 years | ₹0 | ₹11 | ₹19 | ₹21 |
| 21–40 years | ₹0 | ₹9 | ₹15 | ₹18 |
| 41–55 years | ₹0 | ₹6.50 | ₹12 | ₹13 |
| 56–65 years | ₹0 | ₹5 | ₹9 | ₹10 |
| GA Period | Rebate (₹ per ₹1,000 BSA) |
|---|---|
| 7–9 years | ₹0.80 |
| 10–14 years | ₹0.90 |
| 15–17 years | ₹1.00 |
Jeevan Utsav can be surrendered at any time. The policy pays the higher of the Guaranteed Surrender Value (GSV) or the Special Surrender Value (SSV). GSV is 75% of single premium in the first 3 years, and 90% of single premium (minus income already paid) thereafter. A separate GSV factor applies to accrued Guaranteed Additions (scaling from 0% in Year 1 to approximately 35% from Year 35 onwards).
Loans are available after just 3 months from policy issue. During the GA period, loan limits are 40–60% of surrender value (lower limits for longer GA periods). After the GA period, up to 75% of surrender value is available. Current loan interest rate for May 2025–April 2026: 9.5% p.a., with a cap that loan interest shall not exceed 50% of the annual income benefit.
Before risk commencement (for minors below age 8): Return of single premium paid (excluding taxes, rider premiums, and extra premiums). No interest is credited.
After risk commencement: The nominee receives the Sum Assured on Death — which is the higher of (a) the Basic Sum Assured or (b) 1.25× the tabular single premium — plus all Guaranteed Additions accrued up to the date of death. Under Option II, any accumulated but unwithdrawn Flexi income balance is also paid.
Effective 22 September 2025, all individual life insurance premiums including Jeevan Utsav are fully exempt from GST. Previously, single premium plans attracted GST at 1.8% (post-2nd-year). That no longer applies. The net premium shown in this calculator is the final amount payable — no GST loading required.
Two optional riders can be attached: Accidental Death & Disability Benefit Rider (provides lump sum on accidental death plus disability income) and New Term Assurance Rider (additional death cover). Rider premium must not exceed 30% of the base single premium, and rider sum assured must not exceed the Basic Sum Assured.
| GA Period | Min Entry Age | Max Entry Age |
|---|---|---|
| 7 years | 10 years | 65 years |
| 8 years | 9 years | 65 years |
| 9 years | 8 years | 65 years |
| 10 years | 7 years | 65 years |
| 12 years | 5 years | 65 years |
| 15 years | 2 years | 65 years |
| 17 years | 30 days | 65 years |
Minimum age at which the Life Assured becomes eligible for income benefit: 18 years.
LIC Jeevan Utsav (Plan 771, UIN 512N338V01) is a Non-Participating, Non-Linked Single Premium Whole Life plan. You pay once and earn Guaranteed Additions of ₹40/₹1,000 BSA per year during your chosen GA period (7–17 years), followed by 10% of BSA as annual income until age 100. Benefits are fully guaranteed with no bonus dependency.
The Guaranteed Addition is ₹40 per ₹1,000 of BSA per year throughout the chosen GA period. Since the plan is Non-Participating, this is contractually fixed at inception and is not subject to LIC's annual bonus declarations. On death during the GA period, all accrued GA is paid as part of the death benefit.
Option I pays 10% of BSA directly as cash every year. Option II credits the same 10% BSA but accumulates it at 5.5% p.a. compounded, allowing you to withdraw up to 75% of the balance once per year. Any remaining balance is paid on death, surrender, or maturity — making Option II better for those who don't need immediate income but want a growing corpus.
The tabular single premium depends on entry age and chosen GA period. Shorter GA periods attract higher premiums (income starts sooner). Three rebates may then reduce it: Online Purchase Rebate (2%), High Sum Assured Rebate (age and BSA based, up to ₹21/₹1,000), and Existing Policyholder Rebate (₹0.80–₹1.00/₹1,000 BSA based on GA period).
No. Effective 22 September 2025, all individual life insurance premiums are fully GST-exempt. Previously single premium plans attracted 1.8% GST; that no longer applies. The net premium shown in this calculator is the final amount payable with no additional tax.
The minimum Basic Sum Assured is ₹5,00,000 (₹5 Lakhs) with no upper limit. BSA multiples are ₹25,000 for BSA up to ₹24.5L, and ₹50,000 for BSA above ₹24.5L. Standard LIC underwriting norms apply.
Yes. A policy loan is available after just 3 months from policy issue. During the GA period, the loan limit is 40–60% of surrender value (varying by GA period). After the GA period, up to 75% of surrender value is available. Interest is 9.5% p.a. (May 2025–April 2026), capped at 50% of annual income benefit.
You can surrender at any time. The surrender value is the higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV). GSV is 75% of single premium in the first 3 years and 90% thereafter (minus income paid). A separate GSV factor also applies to accrued Guaranteed Additions, scaling from 0% in Year 1 to ~35% from Year 35 onwards.
If the life assured entered before age 8 and dies before risk commencement (the later of 2 years from policy date or the policy anniversary after turning 8), the nominee receives only a return of the single premium paid — no interest, no Guaranteed Additions.
Yes. Jeevan Utsav is available both offline (LIC agents, corporate agents, brokers) and online through authorised digital channels. Purchasing online qualifies for an additional 2% rebate on the tabular premium. It is not available through POSP-LI or CPSC-SPV channels.
