LIC’s Jeevan Utsav is a whole-life insurance plan that lets you pay premiums for a limited period (5 to 16 years), after which you enjoy life cover with ongoing income benefits. This product blends protection for your family in case of unexpected death with guaranteed income benefits during your lifetime, making it a strong choice for long-term financial security.
• Choose your premium payment term between 5 and 16 years and pay accordingly.
• You select either a Regular Income or a Flexi Income option at inception.
• On death of the assured while policy is in force, your nominee receives a guaranteed death benefit comprising the Sum Assured on Death and any accrued additions.
• On survival beyond the premium payment term, you start receiving the chosen income benefit — either regular payouts or a deferred, accumulating income stream until old age.
• Whole-life cover: Life cover continues for lifetime after the premium payment term ends.
• Income benefit for life: Choose one of two options — Regular Income (fixed annual payout) or Flexi Income (deferred payouts with withdrawal flexibility).
• Guaranteed additions: While premiums are being paid, you accrue guaranteed additions enhancing your benefit base.
• Flexible premium terms: Pay for just 5 to 16 years and then relax while benefits continue.
• Optional rider benefits: You can boost protection via additional riders (accident, term assurance, premium waiver) for enhanced cover.
• Individuals seeking long-term protection for their family with the added benefit of steady income later in life.
• Earners who want to lock in coverage now, pay premiums for a limited period, and enjoy income or benefit options later.
• People who prefer guaranteed outcomes rather than market-linked returns and want both protection and savings wrapped in one plan.
• Confirm the premium payment term you select (5-16 years) aligns with your cash-flow and life stage.
• Choose your income option carefully — if you pick Flexi Income, understand how deferral and withdrawals will work.
• Review the guaranteed addition rate and how they impact your benefit base.
• Ensure you understand the rules for surrender, paid-up value and how benefits are protected in case of non-payment.
• Consider rider options and how adding them affects premium and protection—sometimes adding riders early is more cost-efficient.
LIC’s Jeevan Utsav (Plan No. 771) offers an effective combination of long-term life cover and income benefits for survival — ideal for those who want protection today and returns later.
Choose your premium term wisely, pick the income option that fits your goals, and secure your family’s future while planning for your lifetime benefits.