LIC Jeevan Utsav Calculator (Plan 771)

What Is the LIC Jeevan Utsav Calculator?

The LIC Jeevan Utsav calculator is a free online tool that estimates your premium and guaranteed lifelong income under LIC Jeevan Utsav Plan 771. You enter your age, basic sum assured and premium paying term, and it instantly shows what you pay and what you get back for life.

Plan 771 is a whole life, non-linked, non-participating plan from LIC of India, carrying UIN 512N363V02. It replaced the earlier Plan 871 under the IRDAI (Insurance Products) Regulations, 2024. Because it is non-participating, every benefit is fixed and guaranteed. Nothing here depends on the market.

This calculator is built on the official brochure structure, so the numbers reflect how the plan actually works, not flat guesses.

What the Calculator Shows You

Every calculation returns a full picture, not just a single figure:

• Installment premium for your chosen mode: yearly, half-yearly, quarterly or monthly
• Total premium paid across the entire paying term
• Approximate daily cost, so you can judge affordability in plain terms
• Guaranteed Additions accrued during the paying term
• Annual income for life and the exact age it begins
• Total income to age 100, so you see the full lifetime value
• Death benefit, including accrued Guaranteed Additions
• A year-by-year policy benefit table covering premium, GA, income, Flexi balance and death cover

You can also switch between Regular Income and Flexi Income, compare online versus offline pricing, share your plan by link, download a CSV, or save the result as an image. No login and no personal details are required.

How the LIC Jeevan Utsav Calculator Works

The tool follows the plan’s own logic in four steps.

• First, it estimates your annual premium from a base reference and scales it for your age, paying term and sum assured.
• Second, it applies a mode loading if you pay half-yearly, quarterly or monthly, and an online discount if you buy directly online.
• Third, it adds Guaranteed Additions at the brochure rate for every year of the paying term.
• Fourth, it works out when your income starts, how much you receive each year, and how the Flexi option grows if you defer.

The result is a realistic estimate you can plan around.

Inputs Explained

Each input changes your outcome, so it helps to know what each one does.

• Your age: Entry is allowed from 90 days to 65 years. A higher entry age means a higher premium for the same cover.
• Premium Paying Term (PPT): Choose from 5 to 16 years. A shorter term means higher yearly premiums but income starting sooner.
• Basic Sum Assured (BSA): This drives both your premium and your income. Your yearly income is 10% of this figure.
• Income Option: Regular Income pays you every year. Flexi Income accumulates your income at 5.5% per year until you withdraw it.
• Payment Mode: Yearly, half-yearly, quarterly or monthly. Non-yearly modes carry a small loading.
• Purchase Channel: Buying online directly usually earns a rebate on the tabular premium.

Guaranteed Additions Explained

Guaranteed Additions are the fixed bonus that builds your policy value during the paying term.

• The rate is ₹40 per ₹1,000 of Basic Sum Assured, credited at the end of each policy year.
• This equals 4% of your sum assured added every year you pay premiums.
• Additions stop once the paying term ends. There is no further accrual after that.
• The total accrued amount is added to your death benefit permanently.

For a ₹20,00,000 sum assured, that is ₹80,000 added each year. Over a 15-year term, roughly ₹12,00,000 in Guaranteed Additions builds up.

Income Options: Regular vs Flexi

This is the single most important choice in the plan, and the calculator lets you compare both instantly.

Option 1: Regular Income Benefit

• LIC pays you 10% of your Basic Sum Assured every year, for life.
• Payments begin after the deferment period ends.
• Best for anyone who wants steady, predictable cash flow.

For a ₹20,00,000 sum assured, that is ₹2,00,000 every year, guaranteed for as long as you live.

Option 2: Flexi Income Benefit

• Your yearly income is not paid out immediately.
• Instead it accumulates inside the policy at 5.5% per year, compounding annually.
• You can withdraw the accumulated amount whenever you choose.

This suits people who do not need income right away and prefer a larger pot later. The calculator tracks your Flexi balance year by year so you can see it grow.

You can change the income option up to six months before payments begin.

When Does the Income Start?

Income begins after a deferment period that depends on your paying term. The rule is simple: income starts in policy year max(PPT + 3, 11).

The calculator applies the correct start year automatically based on the term you select.

Death Benefit Explained

Life cover runs for the whole of life, up to age 100, even after you stop paying premiums.

On death of the life assured, the plan pays:

• The Sum Assured on Death, defined as the higher of 125% of Basic Sum Assured or 7 times the annualised premium
• Plus all accrued Guaranteed Additions

The total death benefit is subject to a floor of 105% of all premiums paid up to that date. The calculator shows an indicative death benefit that combines your sum assured with accrued Guaranteed Additions.

Policy Benefit Table

The calculator produces a full year-wise table so you can see the plan unfold, not just the final total. For every policy year it shows:

• The policy year and your age
• Premium paid that year
• Guaranteed Additions accrued so far
• Income paid or accumulated
• Flexi balance, if you chose that option
• The death benefit at that point

This makes it easy to see exactly when your income starts and how your total value grows over decades.

A Worked Example

Consider a 26-year-old buying the plan with a 15-year paying term, a ₹20,00,000 sum assured and the Regular Income option.

• Annual premium works out to roughly ₹1.31 lakh
• Total premium paid over 15 years is about ₹19.8 lakh
• Guaranteed income is ₹2,00,000 every year
• Income begins in the 18th policy year, at age 44
• Guaranteed Additions of about ₹12,00,000 build into the death benefit
• Life cover continues to age 100

Exact figures shift with your payment mode, purchase channel and applicable GST.

Loan Facility

The plan can be used to raise a loan once conditions are met.

• A loan is available after the first policy year, provided one full year’s premium has been paid.
• The loan amount depends on the surrender value the policy has built.
• Exact eligibility follows LIC’s prevailing rules at the time.

The calculator gives an indicative view of loan potential, not a sanctioned figure.

LIC Jeevan Utsav vs Other LIC Income Plans

If you want to compare the numbers directly, use our LIC Jeevan Umang Plan 745 calculator and LIC Jeevan Labh Plan 736 calculator.

Who Should Use This Calculator

• Anyone evaluating LIC Jeevan Utsav Plan 771 before buying
• Buyers weighing Regular Income against Flexi Income
• Retirement planners who want guaranteed, non-market income
• Parents planning long-term protection for the family
• Investors comparing this plan with market-linked options like a ULIP returns calculator or a SIP calculator

Expert Tips Before You Buy

• Match the paying term to when you actually need the income, not just the lowest premium.
• Choose Flexi only if you can wait. The 5.5% accumulation rewards patience.
• Compare the guaranteed 10% income against inflation. Guaranteed does not always mean high real returns.
• Always confirm the final premium, GST and exact income start with a licensed LIC advisor.

Limitations and Assumptions

• Figures are indicative estimates based on the Plan 771 brochure structure, not an official LIC quotation.
• Actual premium depends on your exact age, mode loading and applicable GST.
• The Flexi option assumes income accumulates at 5.5% per year until withdrawn.
• There is no maturity benefit under this plan. Value comes from lifelong income and life cover.

Sources: LIC of India Plan 771 brochure (UIN 512N363V02), IRDAI (Insurance Products) Regulations, 2024.

Frequently Asked Questions