LIC's Jeevan Utsav (Plan No. 871, UIN No. 512N363V01) is an individual, savings, whole life insurance plan with some unique features. Here's a summary of the plan:

Key features:

  • Limited premium payment option: Pay premiums for a limited period (5 to 16 years) and enjoy lifelong coverage.
  • Guaranteed additions: Receive guaranteed additions throughout the premium paying term, boosting your maturity benefit.
  • 10% guaranteed lifetime income: Choose to receive 10% of the sum assured as regular income starting after a deferment period (3 to 6 years) upon policy maturity.
  • Death benefit: In case of unfortunate death of the policyholder before maturity, the nominee receives the sum assured along with any accrued bonuses.
  • Tax benefits: Premiums paid qualify for tax deductions under Section 80C of the Income Tax Act, and the maturity benefit is also tax-free under certain conditions.

Additional details:

  • Minimum sum assured is Rs. 5 lakhs, with no maximum limit.
  • Policy term: Whole life
  • Premium paying term: 5 to 16 years
  • Deferment period for income option: 3 to 6 years


If you have any specific questions about the plan or need help understanding its suitability for your needs, I recommend reaching out to a licensed LIC agent or financial advisor.

I hope this helps! Let me know if you have any other questions about LIC's Jeevan Utsav plan.