Premiums are estimated using official LIC sample premiums, modal loading rules and interpolation logic from brochure data.
• Guaranteed Addition = ₹40 per ₹1000 BSA during Premium Paying Term
• Regular/Flexi Income = 10% of Basic Sum Assured every year for life
• GST: 4.5% first year, 2.25% renewal years
• Death Benefit = Higher of BSA or 7× Annualized Premium + Guaranteed Additions
Premium & Benefit Illustration
Official LIC Sample Premium Reference
Securing your financial future is always a wise step. Life Insurance Corporation of India, trusted by millions of policyholders, offers the LIC Jeevan Utsav Plan 771 — a whole life insurance policy created to provide lifelong protection along with guaranteed income benefits.
What is LIC Jeevan Utsav Plan 771?
LIC Jeevan Utsav Plan 771 is a non-linked and non-participating whole life insurance policy. Since it is not connected to stock market movements, the plan provides stable and assured returns. It offers life insurance coverage up to 100 years of age along with guaranteed lifelong income after the completion of the premium payment term.
You are required to pay premiums only for a limited duration ranging from 5 to 16 years. After the premium-paying term ends, the plan provides guaranteed lifelong income along with financial security for your family in the event of your unfortunate demise.
Main Highlights of LIC Jeevan Utsav Plan 771
| Feature | Information |
|---|---|
| Plan Category | Non-Linked, Non-Participating Whole Life Insurance Plan |
| Entry Age | 30 days to 65 years |
| Maximum Coverage Age | Up to 100 years |
| Premium Payment Term | 5 years to 16 years |
| Policy Duration | Whole life coverage till age 100 |
| Guaranteed Income Begins | After completion of the premium-paying term |
| Survival Benefit Choices | Regular Income or Flexi Income Option |
| Death Benefit | Sum Assured on Death along with guaranteed additions |
| Loan Facility | Available after completion of 1 policy year |
| Optional Riders | Accident Benefit, Disability, Term Rider, Critical Illness Rider |
Advantages of LIC Jeevan Utsav Plan 771
1. Lifelong Guaranteed Income
One of the biggest advantages of this plan is the guaranteed income you receive for life once the premium payment period is completed. Policyholders can choose a regular income payout or opt for the Flexi Income feature, where the income accumulates and can be withdrawn later according to financial needs.
2. Whole Life Insurance Protection
The plan offers insurance coverage up to 100 years of age, ensuring long-term financial security for your loved ones throughout the policy duration.
3. Flexible Limited Premium Payment
You only need to pay premiums for a selected period between 5 and 16 years. This flexibility allows you to choose a payment term that suits your financial goals while still enjoying lifelong policy benefits.
4. Guaranteed Additions
The policy earns guaranteed additions during the premium-paying term, which increases the total amount payable under the death benefit.
5. Loan Against Policy
Once the policy attains paid-up value, you can avail of a loan facility during financial emergencies, providing additional liquidity when required.
6. Additional Rider Benefits
The protection under the policy can be enhanced with optional riders such as Accident Benefit Rider, Disability Benefit Rider, Term Assurance Rider, and Critical Illness Rider.
Understanding Death Benefit and Maturity Benefit
Death Benefit
In case the life assured passes away while the policy is active, the nominee receives the Sum Assured on Death along with accumulated guaranteed additions. The Sum Assured on Death will be the higher of:
- Basic Sum Assured, or
- Seven times the annualized premium paid
Additionally, the death benefit will never be lower than 105% of the total premiums paid up to the date of death.
Maturity Benefit
Since LIC Jeevan Utsav Plan 771 is a whole life insurance policy, it does not provide a traditional maturity benefit. The plan is mainly designed to offer lifelong insurance protection and guaranteed income benefits.
What is the LIC Jeevan Utsav Plan 771 Calculator?
The LIC Jeevan Utsav Plan 771 Calculator is an online calculation tool that helps users estimate premium amounts and expected policy benefits. By entering details such as age, sum assured, and premium-paying term, users can quickly understand the plan’s financial benefits.
The calculator generally provides:
- Estimated premium amounts for yearly, half-yearly, quarterly, and monthly payment modes
- Projected guaranteed income after completion of the premium-paying term
- Estimated death benefit amount
- Information related to loan eligibility and surrender value
This tool makes financial planning easier by helping users understand the returns and protection available under the plan while comparing different premium payment options.
How to Use LIC Jeevan Utsav Plan 771 Calculator
Using the calculator is simple and convenient:
- Enter Your Age
Provide your age at the nearest birthday, which should be between 30 days and 65 years. - Select the Sum Assured
Choose the desired basic sum assured amount starting from ₹5,00,000 or higher. - Choose Premium Paying Term (PPT)
Select a premium payment duration between 5 and 16 years. - Select Premium Payment Mode
Choose your preferred payment frequency — yearly, half-yearly, quarterly, or monthly through NACH/salary deduction. - Calculate Benefits
The calculator will instantly display estimated premiums, death cover, guaranteed additions, and projected lifelong income after the premium-paying term.
Many insurance platforms, including LIC’s official website and trusted insurance portals, provide this calculator for quick premium estimation.
Example Illustration
Suppose a 30-year-old individual selects a basic sum assured of ₹10,00,000 with a premium-paying term of 10 years.
- Approximate Annual Premium: ₹86,000 (excluding GST)
- Guaranteed Additions: Added every year during the premium-paying period at a fixed rate
- Guaranteed Income: Lifelong regular income begins after completion of the 10-year premium term
- Death Benefit: Higher of the basic sum assured or seven times the annual premium, along with guaranteed additions
This example demonstrates how the plan combines lifelong protection with assured income benefits. Actual premiums and benefits may differ based on age, policy options, and underwriting conditions.
Reasons to Choose LIC Jeevan Utsav Plan 771
Lifelong Financial Protection
The plan offers whole life insurance coverage, ensuring your family remains financially secure throughout your lifetime.
Guaranteed Income After Premium Term
After completing premium payments, the policy provides assured lifelong income, making it suitable for retirement planning and long-term financial stability.
Flexible Options
The plan allows flexibility through different premium payment terms and survival benefit options to match varying financial goals.
Stable and Guaranteed Returns
Being a non-linked and non-participating plan, the benefits are guaranteed and remain unaffected by stock market fluctuations, offering peace of mind and predictable returns.
Flexi Income vs Regular Income Option
LIC Jeevan Utsav Plan 771 offers two different survival benefit options, allowing policyholders to choose the income style that best matches their financial goals and future requirements.
| Option | Description | Advantages |
|---|---|---|
| Regular Income | Fixed income is paid regularly after completion of the premium-paying term | Provides stable and predictable pension-like income |
| Flexi Income | Income remains accumulated within the policy and can be withdrawn whenever required | Offers greater flexibility to manage cash flow and financial needs |
Policyholders also get the flexibility to switch between these options up to six months before the income payout period begins, making the plan adaptable to changing financial situations.
Important Points to Know
No Maturity Benefit
This policy does not provide a lump sum maturity amount because the primary objective of the plan is to offer lifelong income and long-term insurance protection.
Entry Age Criteria
The minimum entry age is 30 days, while the maximum entry age allowed is 65 years. The life cover continues up to 100 years of age.
Tax Benefits
Premiums paid under the policy may qualify for deductions under Section 80C of the Income Tax Act. In addition, the death benefit is generally tax-exempt under Section 10(10D), subject to prevailing tax laws. It is advisable to consult a tax expert for personalized guidance.
Loan Facility
Once the policy acquires a paid-up value, policyholders can avail of loans against the policy to meet emergency financial requirements.
Rebates and Applicable Charges
Higher sum assured values or online purchases may qualify for premium rebates. Goods and Services Tax (GST) and other applicable charges will be levied as per prevailing regulations.
Ways to Purchase LIC Jeevan Utsav Plan 771
You can buy LIC Jeevan Utsav Plan 771 through multiple channels, including:
- LIC branch offices
- Authorized LIC agents
- Official LIC website or mobile application
- Trusted insurance comparison platforms
Before purchasing the policy, it is recommended to use the LIC Jeevan Utsav Plan 771 Calculator to estimate premiums, benefits, and long-term returns accurately.
Frequently Asked Questions (FAQs)
What is LIC Jeevan Utsav Plan 771?
LIC Jeevan Utsav Plan 771 is a non-linked and non-participating whole life insurance policy that provides guaranteed lifelong income after the premium-paying term along with life cover up to 100 years of age.
What is the minimum and maximum entry age?
The plan can be purchased from as early as 30 days of age up to a maximum age of 65 years.
How long do I need to pay premiums?
The premium-paying term can be selected between 5 and 16 years according to your financial preference.
What happens after the premium-paying term ends?
Once the premium payment period is completed, the policy starts providing guaranteed lifelong income payouts.
Is there any death benefit available?
Yes. In case of the policyholder’s death during the policy term, the nominee receives the higher of the Sum Assured on Death or seven times the annualized premium paid, along with guaranteed additions.
Does the plan provide maturity benefits?
No, this policy does not offer a traditional maturity benefit because it is designed mainly for lifelong protection and regular income benefits.
Are riders available with this plan?
Yes, the policy offers optional riders such as Accident Benefit Rider, Term Assurance Rider, Critical Illness Rider, Disability Benefit Rider, and Premium Waiver Benefit Rider for enhanced coverage.
Conclusion
LIC Jeevan Utsav Plan 771 is a comprehensive whole life insurance solution that combines lifelong income, financial protection, and long-term stability. Its limited premium payment structure along with guaranteed lifelong benefits makes it suitable for individuals planning retirement income or securing their family’s financial future. The availability of the LIC Jeevan Utsav Plan 771 Calculator further helps buyers understand premiums and benefits clearly, enabling smarter financial decisions based on their life stage and goals.
Note: All images and videos used on this website are sourced from Google or YouTube. If you have any issues regarding any image or video, please contact us via email through our official website.
If you find any problem with this post or wish to request its removal, please contact us through:
https://licpolicycalculator.in/contact-us
Note: All images and videos used on this website are sourced from Google or YouTube. If you have any issues regarding any image or video, please contact us via email through our official website.
If you find any problem with this post or wish to request its removal, please contact us through:
https://licpolicycalculator.in/contact-us
