LIC Jeevan Utsav Policy Details – Features, Benefits, and How to Buy

LIC Jeevan Utsav Policy is a whole life insurance plan introduced by the Life Insurance Corporation of India (LIC). It is designed to provide financial security through guaranteed returns and flexible premium payment options. This policy ensures that the policyholder and their family receive lifelong financial benefits, making it an ideal choice for those seeking a stable income source post-retirement. Contact the best Insurance agent in Bangalore for complete details.

What is LIC Jeevan Utsav Policy?

LIC Jeevan Utsav is a non-linked, non-participating, individual savings whole-life insurance plan that provides guaranteed annual payouts after the premium payment term ends. It allows policyholders to choose a limited premium payment term while enjoying lifelong financial security.

LIC Jeevan Utsav Policy Age Limit

• Minimum Entry Age: 90 days
• Maximum Entry Age: 65 years
• Premium Paying Term: 5 to 16 years
• Maximum Maturity Age: Lifetime coverage

Features of LIC Jeevan Utsav Policy

• Lifetime Coverage with Limited Premium Payments: Offers whole life coverage with premium payment terms ranging from 5 to 16 years.
• Guaranteed Additions: Accrues at ₹40 per ₹1,000 of the Basic Sum Assured at the end of each policy year during the premium-paying term.
• Survival Benefit Options:
  • Regular Income Benefit: 10% of the Basic Sum Assured is payable annually.
  • Flexi Income Benefit: 10% of the Basic Sum Assured annually, with an option to defer and accumulate with 5.5% interest.
• Death Benefit: Ensures nominee receives the sum assured plus guaranteed additions, with a minimum of 105% of total premiums paid.
• Loan Facility: Policyholders can avail a loan against the policy to meet financial needs.
• Optional Riders: Additional coverage options include Accidental Death, Critical Illness, and Premium Waiver benefits.
• Tax Benefits: Enjoy tax exemptions under Sections 80C and 10(10D).

Benefits of LIC Jeevan Utsav

• Financial Security: Ensures a steady flow of income after retirement.
• Guaranteed Returns: Provides a predictable and stable return.
• Death Benefit: Ensures financial protection for the nominee.
• Survival Benefit: Annual payouts for policyholders who survive the policy term.
• Loan Facility: Helps in financial emergencies without surrendering the policy.

LIC Jeevan Utsav Premium Payment Options

The policy offers flexibility in premium payment terms, allowing policyholders to choose between 5 to 16 years. The premium amount depends on the policyholder’s age, sum assured, and chosen premium payment term.

LIC Jeevan Utsav Policy Death Benefit

If the policyholder passes away during the policy term, the nominee receives the sum assured along with accrued guaranteed additions. This ensures financial protection for the family.

Jeevan Utsav Policy Explained with an Example

Example: How Jeevan Utsav Works

Sathya Prakash Urs, one of the most experienced LIC agents in Bangalore, recently helped a 35-year-old client purchase LIC Jeevan Utsav. The client chose a Sum Assured of ₹10 lakh with a 10-year premium payment term.

• The client pays premiums for 10 years.
• After completing the premium payment term, the client starts receiving ₹1 lakh (10% of the Sum Assured) every year for life.
• If the client passes away, the nominee receives the full Sum Assured along with bonuses.
• The client also has the option to take a loan against the policy if needed.

LIC Jeevan Utsav Policy Survival Benefit

• Policyholders start receiving guaranteed annual payouts after completing the premium payment term.
• The annual payout is 10% of the Basic Sum Assured, ensuring a stable income.

LIC Jeevan Utsav Loan Facility

Policyholders can avail a loan against the policy after a few years of premium payment. The loan amount depends on the surrender value of the policy.

LIC Jeevan Utsav Tax Benefits

• Premiums Paid: Eligible for tax deduction under Section 80C.
• Maturity and Death Benefits: Tax-free under Section 10(10D), subject to conditions.

Buying LIC Jeevan Utsav Online vs. Offline

• Online: Visit the LIC India website, select the plan, and purchase it digitally.
• Offline: Contact an LIC agent or visit a nearby LIC branch for assistance ( Sathya Prakash Urs : 98805 26164 )

LIC Jeevan Utsav Policy Claim Process

• Maturity Claims: Submit the policy document and ID proof to receive benefits.
• Death Claims: Nominee must provide the death certificate, policy documents, and ID proof to process the claim.

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Why LIC Jeevan Utsav Policy is the Best Life Insurance Policy in Bangalore?

• Reliable and secure investment option.
• Provides lifelong financial stability.
• Easy claim settlement process.
• Guidance from experienced agents like Sathya Prakash Urs.

Whole Life Insurance Plans in Bangalore – How Jeevan Utsav Stands Out

Compared to other life insurance plans, LIC Jeevan Utsav offers a unique combination of guaranteed payouts, whole life coverage, and flexible premium payment options, making it a preferred choice in Bangalore.

LIC Agents Near Me for Jeevan Utsav

To buy LIC Jeevan Utsav Policy offline, connect with a trusted LIC agent in your locality. Sathya Prakash Urs – Chief Organizer, a highly reputed LIC agent in Bangalore, has helped thousands of clients secure their financial future with the right LIC policies. He provides expert guidance and ensures hassle-free policy management.

Contact : Sathya Prakash Urs : 98805 26164

LIC Jeevan Utsav Policy is an excellent choice for individuals seeking guaranteed returns and financial security. With lifelong benefits, limited premium payment, and tax exemptions, this policy ensures a stress-free financial future. Whether online or through an agent like Sathya Prakash Urs, purchasing LIC Jeevan Utsav is a step towards a secure future.

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