This gives Guaranteed Life Long income and Life Long Risk Cover.
FinTech BizNews Service
Mumbai, 6 January 2026: The CEO & MD of LIC of India, Shri R. Doraiswamy launched a new plan, LIC’s Jeevan Utsav Single Premium on 6.1.2026. LIC’s Jeevan Utsav Single Premium is a Non Par, Non-Linked, Individual, Savings, Whole Life Insurance plan. It is a Single Premium plan with accrual of Guaranteed Additions during the Guaranteed Additions period. The Unique Identification Number (UIN) for LIC’s Jeevan Utsav Single Premium Plan is 512N392V01.
LIC’s Jeevan Utsav Single Premium gives Guaranteed Life Long income and Life Long Risk Cover.
The salient features of the plan are as under:
This plan is available for ages starting from 30 days to 65 years.
The minimum Basic Sum Assured is ₹ 500,000. While there is no upper limit, the maximum
Basic Sum Assured allowed to each individual will be subject to underwriting decision as per
the Board Approved Underwriting Policy.
Guaranteed Additions shall accrue @ of Rs40 per thousand Basic Sum Assured at the end
of each policy year during the Guaranteed Addition Period.
As Survival Benefit, the Policyholder can choose from :
Option I- Regular Income Benefit - which is 10% of the Basic Sum Assured, payable at
the end of each policy year, starting after 7 to 17 years as opted by the policyholder.
Option II- Flexi Income Benefit – Policyholder can opt for Flexi Income Benefit under
which 10% of the Basic Sum Assured payable can be accumulated and withdrawn
later, subject to the terms and conditions of the policy. LIC shall pay interest on such
Deferred Flexi Income payments @ 5.5% p.a., compounding yearly.
Death Benefit: On death of the Life Assured after the date of commencement of risk,
Death Benefit equal to “Sum Assured on Death” along with accrued Guaranteed
Additions shall be payable, provided the policy is in-force. “Sum Assured on Death” is
higher of ‘Basic Sum Assured’ or ‘1.25 times of Tabular Single Premium’ whichever is
higher.
Maturity Benefit: On the life assured surviving to the end of the policy term, “Sum Assured
on Maturity” along with accrued Guaranteed Additions shall be payable. The “Sum
Assured on Maturity” is defined as the higher of Basic Sum Assured or 1.25 times of Tabular Single Premium.
Additional Liquidity is available through loan.
Attractive High Sum Assured Rebate is available.
Two optional riders, LIC’s Accidental Death and Disability Benefit Rider and LIC’s New
Term Assurance Rider are available under this plan by paying additional premium subject
to the eligibility conditions.
This Plan can be purchased Offline through Licensed agents, Corporate agents, Brokers, Insurance
Marketing Firms as well as Online directly through our website www.licindia.in
LIC’s Jeevan Utsav Single Premium will be available for purchase from 12th January 2026.
