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. It instantly shows what you pay and what you receive for life.

Plan 771 is a whole life, non-linked, non-participating plan from LIC of India. It carries UIN 512N363V02 and 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 follows the official brochure structure, so the numbers reflect how the plan actually works.

What the Calculator Shows You

Each calculation returns a full picture, not a single figure:

• Installment premium for your mode: yearly, half-yearly, quarterly or monthly
• Total premium paid across the paying term
• Approximate daily cost, so affordability is easy to judge
• Guaranteed Additions accrued during the paying term
• Annual income for life and the exact age it begins
• Total income to age 100, showing 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

Calculator Features

• Switch between Regular Income and Flexi Income instantly
• Compare online versus offline pricing side by side
• Choose any payment mode and see the loading applied
• Share your plan by personalized link
• Download a full CSV report
• Save your result as an image
• No login and no personal details 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 for non-yearly payments and an online discount if you buy directly. Third, it adds Guaranteed Additions at the brochure rate for every year of the paying term. Fourth, it works out when income starts, how much you receive, 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 sooner.
• Basic Sum Assured (BSA): This drives both premium and income. Your yearly income is 10% of this figure.
• Income Option: Regular pays you every year. Flexi accumulates income at 5.5% per year until you withdraw.
• 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.

One Note on Entry Age and PPT

The maximum entry age falls as your paying term rises. Longer terms need younger buyers. For a 16-year term the upper age limit is lower than for a 5-year term. The calculator caps inputs to keep results realistic.

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

When Does the Income Start?

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

The calculator applies the correct start year automatically.

Premium by Age: Quick Reference

These are indicative annual premiums for a ₹20,00,000 sum assured on a 15-year term, before GST. They rise with entry age.

Use the calculator for your exact age and term. These figures are estimates from the brochure structure, not an official quote.

Death Benefit Explained

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

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 is subject to a floor of 105% of all premiums paid to that date.

Is There a Maturity Benefit?

No. Many people search for a Jeevan Utsav maturity value, so it is worth being direct. Plan 771 is a whole life plan. It does not pay a lump sum at a fixed maturity date. Value instead comes from two things: guaranteed income for life, and life cover that continues to age 100. If a lump sum at a set date is your goal, a plan like LIC Jeevan Labh Plan 736 fits better.

Surrender Value and Loan Facility

The plan builds a surrender value you can access if needed.

• A loan is available after the first policy year, once one full year of premium is paid.
• The loan amount depends on the surrender value built so far.
• If you exit early, the surrender value is usually less than premiums paid in the early years.
• Exact eligibility follows LIC’s prevailing rules at the time.

The calculator gives an indicative view of value built, not a sanctioned figure.

What Return Does Jeevan Utsav Give?

The internal rate of return usually works out to roughly 5.5% to 6.5% over the long run, depending on entry age and term. That is modest but fully guaranteed and tax-efficient. It is best judged against fixed deposits and other guaranteed products, not against market-linked options. For a market comparison, try our SIP calculator or ULIP returns calculator.

Tax Treatment and GST

Premiums paid may qualify for deduction under Section 80C. The death benefit is generally tax-free under Section 10(10D), subject to prevailing rules. GST applies on premiums, typically at a higher rate in the first year and a lower rate on renewals. The calculator shows the base premium. Confirm the exact GST-inclusive figure with an LIC advisor.

Policy Benefit Table

The calculator produces a full year-wise table so you can see the plan unfold. For each year it shows the policy year and your age, premium paid, Guaranteed Additions accrued, income paid or accumulated, Flexi balance if chosen, and the death benefit at that point.

A Worked Example

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

• 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 GST.

LIC Jeevan Utsav vs Other LIC Plans

Compare the numbers directly using our LIC Jeevan Umang Plan 745 calculator and LIC Jeevan Labh Plan 736 calculator.

Plan 771 vs Plan 871 vs Plan 883

Plan 771 is the current version. Plan 871 was the earlier edition, now withdrawn and revised under the 2024 IRDAI product rules. Plan 883 is the single premium variant, where you pay once instead of over a term. If you want lifelong income from a one-time payment, look at Plan 883 instead. This calculator covers the regular premium Plan 771.

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 family protection
• Agents cross-checking a benefit illustration

Expert Tips Before You Buy

• Match the paying term to when you actually need 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 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. Value comes from lifelong income and life cover.

Frequently Asked Questions