| Year | Premium | GA Accrued | Income | Balance (Flexi) | Death Benefit |
|---|
LIC Jeevan Utsav Calculator – Plan 771
The LIC Jeevan Utsav Calculator (Plan 771) helps you estimate premium, guaranteed income, total benefits, and death cover under LIC’s latest non-linked, non-participating life insurance plan.
This calculator is built using official brochure logic, real premium scaling, guaranteed additions, and income rules, so you can clearly understand:
- How much premium you pay
- When income starts
- How much income you receive
- How Flexi Income grows
- What death benefit is payable
All calculations are indicative and meant for planning.
What Is LIC Jeevan Utsav Plan 771?
LIC Jeevan Utsav (Plan 771) is a whole life, non-linked, non-participating insurance plan that offers:
- Guaranteed additions during premium paying term
- Lifetime income options
- Life cover till age 100
- Optional Flexi Income accumulation
When Was LIC Jeevan Utsav Introduced?
LIC Jeevan Utsav was launched in 2024 as a long-term income plus protection plan for people looking for predictable, guaranteed benefits.
Who Should Consider This Plan?
- Individuals looking for guaranteed lifetime income
- Investors who prefer non-market linked products
- People planning retirement income with insurance cover
- Those who want flexible income accumulation
Key Features of LIC Jeevan Utsav
- Plan Type: Non-linked, Non-participating
- Premium Paying Term (PPT): 5 to 16 years
- Income Start Year: Based on PPT
- Guaranteed Additions: ₹40 per ₹1,000 BSA per year (during PPT)
- Income Options: Regular Income or Flexi Income
- Life Cover: Till age 100
Inputs Used in This Calculator
The calculator uses the following inputs exactly as per your selection:
- Entry age
- Premium Paying Term (PPT)
- Basic Sum Assured (BSA)
- Income option (Regular or Flexi)
- Payment mode (Yearly, Half-yearly, Quarterly, Monthly)
- Purchase channel (Online or Offline)
Premiums scale automatically based on age, PPT, and BSA.
Premium Calculation Logic
The calculator derives premium using a base premium reference and adjusts it for:
- Entry age increase
- Shorter or longer PPT
- Higher or lower Sum Assured
- Online purchase discount
- Mode loading for non-yearly payments
This ensures realistic premium estimates, not flat assumptions.
Guaranteed Additions (GA) Explained
LIC Jeevan Utsav offers Guaranteed Additions during the premium paying term.
- GA Rate: ₹40 per ₹1,000 BSA per year
- Accrues every year till PPT ends
- Added to death benefit permanently
Example
For ₹20,00,000 BSA:
- GA per year = ₹80,000
- Over 15 years = ₹12,00,000 (approx)
Income Options Explained Clearly
This is the most important decision in the plan.
Option 1: Regular Income
- Income is paid every year
- Starts after a waiting period (based on PPT)
- Income amount = 10% of Basic Sum Assured
- Best for people needing cash flow
Example:
₹20,00,000 BSA → ₹2,00,000 yearly income for life
Option 2: Flexi Income (Accumulation Option)
- Income is not paid immediately
- Income is accumulated internally
- Accumulation interest assumed at 5.5% per year
- You can withdraw accumulated income later
Best for people who want:
- Deferred income
- Higher long-term value
- Flexible withdrawals
The calculator tracks Flexi Balance year-by-year.
When Does Income Start?
Income start year depends on Premium Paying Term:
| PPT | Income Starts From |
|---|---|
| 5–8 years | 11th year |
| 9 years | 12th year |
| 10 years | 13th year |
| 11 years | 14th year |
| 12 years | 15th year |
| 13 years | 16th year |
| 14 years | 17th year |
| 15 years | 18th year |
| 16 years | 19th year |
This logic is fully implemented in the calculator.
Death Benefit Explained
Death benefit under LIC Jeevan Utsav includes:
- Basic Sum Assured
- Total Guaranteed Additions accrued
- Flexi Income balance (if opted)
This ensures life cover continues even after premium payment ends.
Policy Benefit Table (Year-Wise View)
The calculator shows a detailed table with:
- Policy year
- Premium paid
- Guaranteed additions accrued
- Income paid or accumulated
- Flexi balance (if applicable)
- Estimated death benefit
This helps you visualize long-term value, not just final numbers.
Life Example
Suppose a 26-year-old buys LIC Jeevan Utsav with:
- PPT: 15 years
- BSA: ₹20,00,000
- Income Option: Regular
Indicative Outcome:
- Annual premium: ~₹1.31 lakh
- Total premium paid: ~₹19.8 lakh
- Guaranteed income: ₹2,00,000 per year
- Income starts: 18th policy year
- Life cover continues till age 100
Exact values vary with payment mode and channel.
Loan Facility (Indicative)
After premium payment term:
- Policy may acquire surrender value
- Loan available up to ~75% of value (approx)
- Exact loan eligibility depends on LIC rules
Calculator shows indicative loan potential.
LIC Jeevan Utsav vs Other LIC Income Plans
| Feature | Jeevan Utsav | Jeevan Umang | Jeevan Labh |
|---|---|---|---|
| Income Type | Guaranteed | Guaranteed | Maturity |
| Premium Term | Short | Long | Limited |
| Market Risk | None | None | None |
| Flexi Option | Yes | No | No |
Who Should Use This Calculator
- People evaluating LIC Jeevan Utsav Plan 771
- Users comparing Regular vs Flexi income
- Retirement income planners
- Long-term insurance investors
Why PlanMyReturns Jeevan Utsav Calculator Ranks Better
- Matches LIC brochure logic
- Supports Flexi accumulation
- Shows year-wise benefits
- Clear income start logic
- Shareable plans and CSV export
- No login required
Frequently Asked Questions
LIC Jeevan Utsav (Plan 771) is a non-linked, non-participating whole life insurance plan that offers guaranteed additions, lifetime income options, and life cover up to age 100.
LIC Jeevan Utsav was launched by LIC in 2024 to provide long-term guaranteed income along with insurance protection.
Premium depends on entry age, premium paying term, basic sum assured, payment mode, and purchase channel.
The calculator uses a base premium reference and adjusts it for age, PPT, sum assured, and mode loading.
LIC Jeevan Utsav offers two income options:
Regular Income: Income is paid out every year.
Flexi Income: Income is accumulated internally and grows at an assumed rate before withdrawal.
In Regular Income, the yearly income is paid directly to you.
In Flexi Income, the income is not paid immediately but accumulated and grows over time, allowing flexible withdrawals later.
Income start year depends on the premium paying term.
For example, if PPT is 15 years, income starts from the 18th policy year. The calculator automatically applies the correct start year.
The yearly income is 10% of the Basic Sum Assured.
For example, a ₹20 lakh sum assured provides ₹2 lakh annual income.
Yes. Life cover continues till age 100, even after all premiums are fully paid.