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LIC Plans November 24, 2023 Vinay LIC Jeevan Utsav : Table No. 871 10% Guaranteed Lifelong पॉलिसी एक, फायदे अनेक 90 दिन से लेकर 65 वर्ष की आयु तक Key Benefits: Short term, Limited Premium, Non-Participating, Guaranteed, Life Long Income benefit, Whole life,  Tax Free Insurance Plan All about LIC Jeevan Utsav [ Table No. 871 ] LIC’s New Plan LIC Jeevan Utsav, also known as Table No. 871, is LIC’s new plan designed to meet the growing demand for short-term, guaranteed, and lifelong income benefit plans. In today’s changing times, where people are seeking security and assurance, LIC OF INDIA has responded by launching the Jeevan Utsav Plan. This plan aims to fulfill the evolving needs of individuals, whether they are just 90 days old or a youthful 65 years, providing a comprehensive solution tailored to each person’s requirements. What makes this plan stand out are the numerous benefits and flexibilities it offers to policyholders. The beauty of Jeevan Utsav lies in its guarantees, clearly outlined in the policy bond. With guaranteed bonuses, insurance coverage, moneyback options, survival benefits, and a secure death claim, this plan ensures financial security and peace of mind for policyholders. It’s a comprehensive package that addresses the diverse needs of individuals across different age groups.     Table Of Content  Features of LIC’s Jeevan Utsav Plan Elligibility Criteria of Jeevan Utsav Benefits Offered by LIC Jeevan Utsav Plan Annual Income Benefit of Jeevan Utsav Survival benefit of Jeevan Utsav Riders in LIC Jeevan Utsav Loan in LIC Jeevan Utsav Death Benefit in LIC Jeevan Utsav Paid up condition in LIC Jeevan Utsav Policy Nomination in LIC Jeevan Utsav Option to take death benefit in installments: Check list of documents FAQ of LIC Jeevan Utsav LIC Jeevan Utsav Plan  Call us to buy Now Ph 9910039879 Features of LIC Jeevan Utsav Policy  It’s a whole life, guaranteed, Annual Income benefit,  insurance plan.  The customer has to pay the premium for limited number of years (5 to 16yrs) and the coverage continues for life that is till 100yrs or upto the death whichever is earlier.   10% of the sum assured will be payable whole life after the deferement period in the policy.  Option to accumulate survival benefit @5.5% p.a. compounded yearly.  Policyholder can withdraw the accumulated amount any time by just writting a letter and can withdraw  It is best suited plan for yound kids, boys & Girls. This Plan can be gifted to spouse, sister or two anyone who want regular guaranteed income for life.   Eligibility Criteria of Jeevan Utsav : Criteria Minimum Maximum Age Entry 90days 65Yrs Age at the end of PPT 16yrs 75Yrs Sum Assured 5,00,000 No Limit Premium Paying Term 5yrs 16yrs Deferent Period For 5yr PPT-5yr, For 6yr PPT-4yr, FOr 7yr PPT-3yr For 8yr to 16yr PPT-2yr Minimum Installment Amount for different modes of payments being as under Mode of Installment Payment Minimum Installment Amount Monthly Rs 5,000/- Quarterly Rs 15,000/- Half Yearly Rs 25,000/- Yearly Rs 50,000/- Benefits Offered by LIC Jeevan Utsav Plan Annual Income Benefit  Income benefits starts at the age of minimum 18yrs. Income benefit payable at the end of policy year in which it falls due. That is the term and the premium paying term should be choosen accordingly. Survival benefit  Option I : Regular income benefit 10% of the basic sum assured at the end of each policy year. Option II: Flexi income benefit 10% of the basic sum assured at the end of each policy year.  Flexibility to defer and accumulate such Flexi income benefit at 5.5% per annum compounded yearly for completed months from the due date, till the date of withdrawal or surrender or death, which ever is earlier. Policy holder on written request can withdraw once in a policy year, a maximum of 75% of balance accumulated Flexi income benefits, including interest if any, which has not already been withdrawn and net amount after withdrawal will continue to accumulate at 5.5% per annum compounding yearly. Riders Available: (1)LIC’s accidental death and disability benefit rider (2)LIC is accident benefit rider (3)LIC is term Assurance Rider (4)LIC is critical illness benefit rider (5)LIC is premium waiver benefit rider Loan in LIC Jeevan Utsav Up to 50% of Flexi income benefit due and not withdrawn is available Death benefit in LIC Jeevan Utsav Death benefit is equal to sum assured on death + accrued guaranteed additions, where sum assured on death is defined as higher of basic sum assured or seven times of the annualised premium.  Paid up condition in LIC Jeevan Utsav Policy Under a paid up policy,  where paid up sum assured is less than Rs 2 lakh on death of the life asured death benefit equal to death paid up sum assured along with accrued guaranted editions shall be payable to the nominee/beneficiary  On survival of life assured regular income benefit of Flexi income benefits shall not be payable under a paid up policy where paid up sum assured is less than Rs 2 lakh   Under a Paid up Policy, when Paid up sum assured is greater than equal to Rs 2lac Paid up Sum Assured Regular Income/flexi Benefit Rs 2lac to Rs 2.99lac 5% of Paid up Sum Assured Rs 3lac to Rs 3.99lac 6% of Paid up Sum Assured Rs 4lac to Rs 4.99lac 7% of Paid up Sum Assured Rs 5lac & Above 10% of Paid up Sum Assured Nomination:  Multiple and successive nomination is possible  Multiple Nomination: More than one nominee is possible in this plan and their share in the death claim can also be specified. Successive nominations: Successive nominations are possible in this plan. That is if something happens to first nominee then death claim will be given to the second nominee and if something happens to first and second nominee then the death claim will be payable to the third nominee.  Option to take death benefit in installments This is an option to receive death benefit in installments over the chosen term. 5 years or 10 years or 15 years instead of lumps in amount under and inforce as well as paid up policy.  Sample illustration of LIC Jeevan Utsav A person aged 25