LIC Jeevan Utsav offers monetary safety for the household of the deceased policyholder any time earlier than maturity.
LIC’s Jeevan Utsav Plan is a Non-Linked, Non-Participating, Individual, Savings, Whole Life Insurance plan.
LIC New Plan Jeevan Utsav: On November 29, 2023, Life Insurance Corporation of India (LIC) launched a brand new conventional insurance coverage plan referred to as Jeevan Utsav Plan 871. This plan is designed to offer a mix of insurance coverage, financial savings, and pension advantages, catering to people searching for a safe and steady monetary future. Unlike market-linked plans, Jeevan Utsav Plan 871 presents assured returns, shielding policyholders from market fluctuations
LIC’s Jeevan Utsav Plan is a complete insurance coverage plan that gives assured returns and lengthy-time period monetary safety. It is a non-linked, non-taking part, particular person financial savings plan that gives entire life insurance coverage protection. The plan’s restricted premium construction permits policyholders to pay premiums for a set time period, whereas assured additions guarantee constant progress within the coverage worth all through the premium paying interval.
Benefits
LIC Jeevan Utsav offers monetary safety for the household of the deceased policyholder any time earlier than maturity. The predominant advantage of this plan is it has the restricted premium cost possibility. Premium paying time period is 5 years to 16 years for entire life coverage phrases.
The proposer shall have the next two choices to decide on at inception of the coverage. The advantages shall fluctuate as per the choice chosen.
- Regular Income Benefit
- Flexi Income Benefit
Policyholders who go for the common revenue possibility will obtain annual payouts ranging from the eleventh coverage yr. The precise yr through which payouts start will depend on the chosen premium cost time period. For occasion, those that pay premiums for 5 to eight years will begin receiving payouts from the eleventh yr onward, whereas those that select an extended premium cost time period, comparable to 10 years, will start receiving payouts from the thirteenth coverage yr.
However, the policyholder can change the choice exercised by them on the inception of the coverage at any time as much as six months earlier than the start of the coverage yr through which the primary, common or flexi revenue profit turns into due.
Key Features
- Guaranteed Income for lifetime ranging from age 18 until 100 years.
- Option to decide on common revenue profit or flexi revenue profit.
- All the advantages might be assured on the time of inception of the coverage.
- Guaranteed additions on the fee of Rs. 40 per thousand sum assured until the premium paying time period.
- Option to defer and accumulate the revenue at a gorgeous funding fee of Rs 5.5% per yearly and compounding yearly.
- You can change the kind of revenue profit six months earlier than the cost of advantages.
- Option of premium cost time period from 5 years to 16 years solely.
- Policy could be taken for 90 days little one to a 65 years older particular person.
How To Buy LIC Jeevan Utsav Plan?
LIC Jeevan Utsav Plan could be bought offline by way of licensed brokers, company brokers, brokers, insurance coverage advertising and marketing companies in addition to on-line immediately by way of LIC web site www.licindia.in.
Disclaimer: The views and funding ideas by consultants on this News18.com report are their very own and never these of the web site or its administration. Readers are suggested to test with licensed consultants earlier than taking any funding choices.
