LIC Jeevan Utsav Single Premium Calculator (Plan 883)

The PlanMyReturns LIC Jeevan Utsav Calculator helps you estimate the single premium, guaranteed additions, regular income, and maturity or death benefit under LIC Jeevan Utsav (Plan 883).

This calculator is built to reflect actual LIC brochure rules, so you can understand:

• How much one-time premium you may need
• How guaranteed additions work
• How annual income is paid
• What you receive at maturity or on death
• Surrender value and loan eligibility year by year

Key Objective of the Plan

The plan is designed to:

• Provide guaranteed additions for a fixed period
• Offer regular or flexible income after the addition period
• Ensure life-long insurance cover
• Create a guaranteed corpus with liquidity through loans

Who Typically Searches for LIC Jeevan Utsav?

People usually explore this plan when they want:

• Guaranteed income without market risk
• A one-time investment instead of yearly premiums
• A mix of insurance + savings + income
• Predictable benefits instead of variable returns

This calculator answers those exact needs.

How LIC Jeevan Utsav Works

1. You pay a single premium at policy start
2. LIC adds Guaranteed Additions (GA) for a chosen period
3. After the GA period, income starts
4. The policy continues for life
5. On maturity or death, the death benefit or maturity benefit is paid

Guaranteed Additions Explained

Under LIC Jeevan Utsav:

• Guaranteed Additions are ₹40 per ₹1,000 of Basic Sum Assured
• They are added every year only during the selected GA period
• GA period options include 7, 10, 12, 15, or 17 years

Example

If your Basic Sum Assured is ₹10,00,000:

• Annual GA = ₹40,000
• GA for 10 years = ₹4,00,000 (guaranteed)

The calculator automatically applies this logic.

Survival Benefit Options (Very Important)

Your calculator supports both LIC income options, clearly.

Option I – Regular Income Benefit

• Income is paid every year after the GA period
• Suitable if you want steady cash flow

Option II – Flexi Income Benefit

• Income is not paid immediately
• It accumulates at 5.5% p.a. (compounded yearly)
• You can withdraw partially or fully later

The calculator shows:

• Income paid (Option I)
• Flexi accumulation growth (Option II)

Single Premium Calculation (How the Calculator Works)

The single premium depends on:

• Basic Sum Assured
• Entry age
• Guaranteed Addition period
• Purchase mode (online or offline)

Online Purchase Benefit

If you choose online mode, the calculator applies:

• 2% rebate on premium, exactly as per LIC rules

What This LIC Jeevan Utsav Calculator Shows You

• Estimated single premium payable
• Annual guaranteed additions
• Total guaranteed additions
• Annual income after GA period
• Flexi income accumulation (if chosen)
• Maturity or death benefit
• Guaranteed surrender value (GSV)
• Loan eligibility year by year
• Visual chart of death benefit vs surrender value
• Complete year-wise benefit table

Example

Suppose a 35-year-old invests in LIC Jeevan Utsav with:

• Basic Sum Assured: ₹10,00,000
• Guaranteed Addition period: 10 years

Indicative Outcome

• Single premium: One-time payment (calculator derived)
• Guaranteed Additions: ₹4,00,000
• Annual income after GA period: ₹1,00,000 (Option I)
• Life-long cover continues
• Maturity or death benefit includes BSA + GA

Exact values vary with age and options, which the calculator handles automatically.

Surrender Value and Loan Eligibility

Guaranteed Surrender Value (GSV)

• Available after the initial years
• Calculated strictly as per LIC brochure rules
• Shown year-by-year in the table

Loan Facility

• Loan eligibility depends on GA period:
  • Up to 60% of surrender value (short GA period)
  • Reduced percentage for longer GA periods
• Calculator shows eligible loan amount each year

How to Use the LIC Jeevan Utsav Calculator

1. Enter Basic Sum Assured
2. Select age at entry
3. Choose Guaranteed Addition period
4. Select Regular or Flexi income
5. Enable online mode if applicable
6. Click Calculate Benefits

You can:

• Download results as CSV
• Share a prefilled plan link
• View year-wise illustrations

LIC Jeevan Utsav vs Other Options (Quick Comparison)

LIC Jeevan Utsav vs Fixed Deposit

LIC Jeevan Utsav vs Market-Linked Plans

Who Should Consider LIC Jeevan Utsav?

• Conservative investors
• People seeking guaranteed income
• Those preferring one-time investment
• Investors avoiding market volatility
• Individuals planning long-term family security

Why PlanMyReturns LIC Jeevan Utsav Calculator Is Better

• Uses official Plan 883 rules
• Supports both income options
• Shows GA, income, surrender, loan clearly
• Year-wise transparency
• No login required
• Shareable and downloadable results

frequently asked questions