LIC’s Jeevan Utsav is a Non-Linked, Non-Participating, Individual, Savings, Whole Life Insurance plan. This plan provides financial support to the family in case of the unfortunate death of the life assured and survival benefits in the form of Regular Income Benefit or Flexi Income Benefit as per the option chosen for¹ the surviving policyholder. LIC’s Jeevan Utsav is a non-participating product under which benefits payable on death or survival are guaranteed and fixed irrespective of actual experience. Hence the policy is not entitled to discretionary benefits like bonus etc. or share in Surplus.

This Plan can be purchased Offline through Licensed agents, Corporate agents, Brokers, Insurance Marketing Firms as well as Online directly through the website www.licindia.in. However, it is not available for sale through Point of Sales Persons-Life Insurance (POSP-LI) / Common Public Service Centers (CPSC- SPV).

Benefits:

• Death Benefit: Payable on death during the policy term, after the date of commencement of risk. The amount is “Sum Assured on Death” along with accrued Guaranteed Additions. This Death Benefit shall not be less than 105% of total premiums paid up to the date of death. “Sum Assured on Death” is defined as higher of ‘Basic Sum Assured’ or ‘7 times of Annualized Premium’.

• Survival Benefit: On survival of the Life Assured, Regular Income Benefit (Option I) or Flexi Income Benefit (Option II) as per the option chosen shall be payable.

• Maturity Benefit: Maturity benefit is not available under this plan.

• Guaranteed Additions: Under an in-force policy, the Guaranteed Additions shall accrue at the rate of Rs. 40 per thousand Basic Sum Assured at the end of each policy year during the Premium Paying Term.

Eligibility:

• Minimum Basic Sum Assured: 5,00,000/-

• Maximum Basic Sum Assured: No Limit.

• The Basic Sum Assured shall be in multiples of 25,000.

• Policy Term: 5 to 16 years

• Minimum Age at Entry: 8 years

• Maximum Age at Entry: 65 years