Jeevan Utsav
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LICs Jeevan Utsav 871 Plan
LIC of India new plan launched on 29th. November 2023 which name is LIC Jeevan Utsav Plan 871 is a traditional plan which means not related to market. Jeevan Utsav 871 is a combination of insurance, savings and pension.
LIC’s Jeevan Utsav Plan 871 is a Non-Linked, Non-Participating, Individual, Savings, Whole Life Insurance plan. It is a Limited Premium plan with Guaranteed Additions throughout Premium Paying Term.
LIC Jeevan Utsav 871 provides financial protection for the family of the deceased policyholder any time before maturity. The main benefit of this plan is it has the limited premium payment option. Premium paying term is 5 years to 16 years for whole life policy terms. The unique Identification of ‘Jeevan Utsav Plan 871‘.
The proposer shall have following two options to choose at inception of the policy. The benefits shall vary as per the option chosen.
- Option I – Regular Income Benefit
- Option II – Flexi Income Benefit
However, the policyholder can change the option exercised by him at the inception of the
policy at any time up to six months before the beginning of the policy year in which the first
Regular Income Benefit or Flexi Income Benefit becomes due.
Eligibility Conditions for LIC Jeevan Utsav
| Minimum Age at Entry | 90 Days (Completed) |
|---|---|
| Maximum Age at Entry | 65 Years |
| Maximum premium ceasing age | 75 Years |
| Premium Paying Mode | Yearly, half-yearly, quarterly, and monthly (through NACH only) or salary deductions (SSS) |
| Policy Term | 100 – Current age |
| Premium Payment Term | 5 to 16 years |
| Basic Sum Assured | 5,00,000 and above (in multiple of 25,000 and 1,00,000) |
| Loan | After 2 years |
| Surrender | After 2 years of premium payment |
Contact Info
- Ooty, Tamilnadu.
- 91 7200528245
- care@licooty.com
- Mon - Sat 09:00 - 19:00 Sunday Enquiry Only
Features:
- Guaranteed Income for Lifetime starting from age 18 till 100 years.
- Option to choose regular income benefit or flexi income benefit.
- All the benefits will be guaranteed at the time of inception of the policy.
- Guaranteed Additions at the rate of Rs. 40 per thousand sum assured till the premium paying term.
- Option to defer and accumulate the income at an attractive investment rate of Rs 5.5% per yearly and compounding annually.
- You can change type of income benefit six months before the payment of benefits.
- Option of premium payment term from 5 years to 16 years only.
- Policy can be taken for 90 days child to 65 years older person.
