Calculate the single premium and total benefits for LIC Jeevan Utsav (Plan 771, UIN: 512N338V01). Pay once, collect Guaranteed Additions for 7 to 17 years, then receive 10% of your Sum Assured every year for life until age 100.
| Year | Age | Cum. GA | Annual Income | Opt II Balance | Death Benefit |
|---|
Pay once and walk away. There are no renewal premiums, no annual commitments, no policy administration fees. A single payment at entry secures guaranteed additions for the period you choose, followed by annual income payments of 10% of BSA for the rest of your life, and a whole life death cover throughout.
In a participating plan like Jeevan Umang or Bima Shree, the bonus component depends on what LIC declares each year based on fund performance. That number is never certain until declared. Jeevan Utsav has no such uncertainty. The Guaranteed Addition of Rs.40 per Rs.1,000 BSA per year is written into the policy contract from day one. LIC's investment returns do not affect it. A bad market year does not change it.
The plan works for people who want to invest a lump sum once, receive structured income not tied to market performance, and maintain life cover without ongoing premium obligations.
Step 1: Pay the single premium. The amount depends on your entry age, the BSA you choose, and the GA period. After that, your premium obligation ends permanently.
Step 2: Earn Guaranteed Additions for 7 to 17 years. Rs.40 per Rs.1,000 BSA accrues every year during your chosen GA period. On a Rs.10 lakh BSA, that is Rs.40,000 per year, guaranteed. If you die during this period, the full accumulated GA up to that date is paid to your nominee along with the death benefit.
Step 3: Receive 10% of BSA every year. The year after your GA period ends, 10% of BSA starts arriving annually. On a Rs.10 lakh BSA, that is Rs.1,00,000 per year. Under Option I, it arrives as cash. Under Option II, the same Rs.1,00,000 is credited to a corpus that compounds at 5.5% per annum, from which you withdraw up to 75% once a year whenever you choose.
Step 4: Maturity at age 100. The policy closes with a lump sum equal to the higher of your BSA or 1.25 times the tabular single premium, plus all accumulated Guaranteed Additions, plus any outstanding Option II balance.
Everything in this plan is fixed at inception. The Rs.40 per Rs.1,000 BSA annual addition is written into the contract, not declared each year. LIC's fund performance is irrelevant to your benefit amount.
Picking 7 years means you pay more upfront but annual income starts in year 8. Picking 17 years means a lower premium and more years of GA accrual, but income only begins in year 18.
On a Rs.10 lakh BSA, income is Rs.1,00,000 per year. On Rs.25 lakh, it is Rs.2,50,000. These amounts are fixed, not market-linked, and continue until age 100 regardless of how many years that turns out to be.
Under Option II, the 10% BSA income is credited to a separate corpus compounding at 5.5% per annum. Withdraw up to 75% of the accumulated balance once per year. The remainder keeps growing. Whatever is left at death or maturity is paid out in full.
Buying through LIC's portal or authorised digital channels earns a 2% rebate on the tabular premium. On a Rs.5 lakh premium, that is Rs.10,000 off. On Rs.20 lakh, Rs.40,000. It stacks with the other rebates.
Online purchase: 2% off the tabular premium. High SA rebate: up to Rs.21 per Rs.1,000 BSA based on age and BSA size. Existing policyholder rebate: Rs.0.80 to Rs.1.00 per Rs.1,000 BSA depending on GA period. All three apply together if you qualify for each.
Three months after policy issue, you borrow against the surrender value. During the GA period the limit is 40 to 60% depending on the GA period chosen. After the GA period it rises to 75%. Loan interest is 9.5% per annum and is capped at 50% of your annual income benefit.
From 22 September 2025, individual life insurance premiums are fully GST-exempt. The net premium the calculator shows is what you pay, nothing added on top.
| 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 |
Surrender is allowed at any time. The payout is whichever is higher: the Guaranteed Surrender Value or the Special Surrender Value. GSV is 75% of single premium in years 1 to 3, and 90% thereafter minus income already paid. Accrued Guaranteed Additions carry a separate GSV factor scaling from 0% in year 1 to approximately 35% from year 35 onward. Early surrender recovers less than the amount paid. The policy is designed for people who intend to hold it long term.
Three months after taking the policy, a loan against surrender value is available. The GA period determines the limit: shorter GA periods allow up to 60%, longer ones down to 40% of surrender value. Once the GA period ends and income starts, the limit rises to 75% of surrender value. The interest rate for May 2025 to April 2026 is 9.5% per annum. Total accumulated loan interest is capped at 50% of the annual income benefit.
Before risk commencement (for lives entered below age 8): The nominee receives the single premium paid back, excluding taxes and rider charges. No interest is added. Risk starts at whichever is later: 2 years after the policy start date, or the policy anniversary after the child turns 8.
After risk commencement: The death benefit is the higher of the Basic Sum Assured or 1.25 times the tabular single premium, plus all Guaranteed Additions accrued to the death date. For Option II policyholders, the full accumulated flexi corpus is also paid to the nominee. Death cover runs throughout the entire policy term, both during the GA phase and the income phase.
From 22 September 2025, all individual life insurance premiums are GST-exempt following the 56th GST Council decision. Single premium plans previously attracted 1.8% GST from the second year. That cost is now gone. The net premium in this calculator is the actual amount you pay.
Two optional riders are available at inception. The Accidental Death and Disability Benefit Rider pays a lump sum on accidental death and provides a disability income benefit. The New Term Assurance Rider adds a layer of pure death cover on top of the base plan. Both riders together must not cost more than 30% of the base single premium, and each rider sum assured cannot 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.
