LIC Jeevan Utsav Calculator (Plan 771, 871 & Single Premium 883) — 10% Lifetime Income
LIC Jeevan Utsav (Modified Plan 771 / Table 871 & Single Premium Plan 883) is a non-linked, non-participating whole-life savings plan that accrues guaranteed additions of ₹40 per ₹1,000 Basic Sum Assured throughout the 5-to-16-year premium paying term and pays a guaranteed 10% of Basic Sum Assured annually for life (or compounds payouts at 5.50% p.a. under Option II Flexi Income).
LIC Jeevan Utsav 10% Lifetime Income & Guaranteed Addition Calculator
Simulate Regular 10% Annual Payouts vs 5.5% p.a. Flexi Income Compounding & Single Premium Plan 883
Minimum ₹5,00,000. Your guaranteed annual lifetime income equals 10% of BSA = ₹1,00,000/year.
Guaranteed Additions of ₹40/₹1k accrue for 10 years (₹4,00,000 total). Lifetime 10% income starts at the end of Policy Year 13 (Age 43).
10% annual payouts begin at Age 43 and continue up to Age 100.
Equivalent to ₹8,333/month guaranteed every year from Age 43 up to Age 100.
Important Section 10(10D) Alert: Since annual premium exceeds 10% of Basic Sum Assured (typical for short PPT 5–8 years or Single Premium Plan 883), survival payouts exceeding total premiums paid are subject to income tax at slab rates. Death Benefit remains 100% tax-exempt.
Jeevan Utsav Lifetime Cash-Flow & Guaranteed Addition Schedule (Up to Age 100)
Tracks the 3 distinct policy phases: (1) Premium & ₹40/1k GA Accrual, (2) Deferment Waiting Window, and (3) 10% Lifetime Income Payouts.
| Yr (Age) | Policy Phase | Annual Premium | Cumulative GA (₹40/1k) | 10% Regular Payout | Option II Flexi Corpus (5.5%) | Death Cover |
|---|---|---|---|---|---|---|
| Yr 1 (31y) | Premium & GA Accrual | ₹1,01,204 | ₹40,000 | — | — | ₹10,40,000 |
| Yr 5 (35y) | Premium & GA Accrual | ₹1,01,204 | ₹2,00,000 | — | — | ₹12,00,000 |
| Yr 10 (40y) | Premium & GA Accrual | ₹1,01,204 | ₹4,00,000 | — | — | ₹14,62,642 |
| Yr 12 (42y) | Deferment Waiting | ₹0 | ₹4,00,000 | — | — | ₹14,62,642 |
| Yr 13 (43y) | 10% Lifetime Income Payout | ₹0 | ₹4,00,000 | + ₹1,00,000 | ₹1,00,000 | ₹14,62,642 |
| Yr 30 (60y) | 10% Lifetime Income Payout | ₹0 | ₹4,00,000 | + ₹1,00,000 | ₹29,48,119 | ₹14,62,642 |
| Yr 45 (75y) | 10% Lifetime Income Payout | ₹0 | ₹4,00,000 | + ₹1,00,000 | ₹88,22,474 | ₹14,62,642 |
| Yr 55 (85y) | 10% Lifetime Income Payout | ₹0 | ₹4,00,000 | + ₹1,00,000 | ₹1,63,57,594 | ₹14,62,642 |
| Yr 70 (100y) | 10% Lifetime Income Payout | ₹0 | ₹4,00,000 | + ₹1,00,000 | ₹3,87,58,812 | ₹14,62,642 |
How LIC Jeevan Utsav Guaranteed Additions & 10% Lifetime Income Work
Unlike participating endowment plans that rely on fluctuating annual bonuses, LIC Jeevan Utsav (Plan 771 / 871) is 100% guaranteed at inception. Every rupee of benefit is locked into your policy contract through three statutory formulas:
Accrues at ₹40 per ₹1,000 BSA at the end of each policy year strictly during the Premium Paying Term (5 to 16 years). Added permanently to your Death Benefit and Surrender Value.
Paid every year at the end of the policy year starting from the statutory Income Start Year until Age 100, while your full Death Cover (`BSA + GA`) remains intact.
Instead of spending the 10% annual payout, LIC retains and compounds your payouts at a guaranteed 5.50% p.a. You can withdraw up to 75% of the accumulated balance once a year.
Realistic Worked Examples: Option I (Regular Income) vs Option II (5.5% Flexi Compounding)
₹10,00,000 Basic Sum Assured • 10-Year PPT • Entry Age 30
- Annual Premium (Years 1 to 10 @ 0% GST):₹1,01,200 / year
- Total Premiums Paid (10 Years):₹10,12,000
- Guaranteed Additions (₹40/1k × 10 Yrs):₹4,00,000
- Deferment Waiting Window:Policy Years 11 & 12 (2 Years)
- 10% Lifetime Income (Starts End of Yr 13 / Age 43):₹1,00,000 / year for life
- Total Payout by Age 85 (Income + ₹14L Cover):₹57,00,000
Same ₹10,00,000 Policy Left to Compound at 5.50% p.a.
- Annual ₹1,00,000 Credited to LIC Flexi Fund:From Age 43 onwards
- Guaranteed LIC Compounding Rate:5.50% per annum
- Compounded Flexi Balance at Age 60 (18 Yrs):₹29,48,000
- Compounded Flexi Balance at Age 75 (33 Yrs):₹84,56,000
- Compounded Flexi Balance at Age 85 (43 Yrs):₹1,63,40,000+
- Total Wealth at Age 85 (Flexi + ₹14L Cover):₹1,77,40,000+
Official LIC Jeevan Utsav PPT, Deferment Window & Income Start Year Matrix
| Premium Paying Term (PPT) | Deferment Period | 10% Income Start Year | Total GA on ₹10L BSA | Sec 10(10D) 10% BSA Rule |
|---|---|---|---|---|
| 5 Years | 5 Years (Yrs 6–10) | End of Year 11 | ₹2,00,000 | Premium > 10% BSA (Taxable Gain) |
| 6 Years | 4 Years (Yrs 7–10) | End of Year 11 | ₹2,40,000 | Premium > 10% BSA (Taxable Gain) |
| 7 Years | 3 Years (Yrs 8–10) | End of Year 11 | ₹2,80,000 | Premium > 10% BSA (Taxable Gain) |
| 8 Years | 2 Years (Yrs 9–10) | End of Year 11 | ₹3,20,000 | Premium > 10% BSA (Taxable Gain) |
| 9 Years | 2 Years (Yrs 10–11) | End of Year 12 | ₹3,60,000 | Borderline (~11.5% BSA) |
| 10 to 12 Years (Sweet Spot) | 2 Years Post-PPT | End of Year 13 to 15 | ₹4,00,000 – ₹4,80,000 | ✓ 100% Tax-Exempt (≤ ₹5L/yr) |
| 13 to 16 Years | 2 Years Post-PPT | End of Year 16 to 19 | ₹5,20,000 – ₹6,40,000 | ✓ 100% Tax-Exempt (≤ ₹5L/yr) |
Compare Jeevan Utsav with Sibling LIC & Monthly Income Tools
Compare 10% annual lifetime income against Jeevan Labh lump-sum maturity
Compare Non-Par Jeevan Utsav (10%) vs Participating Jeevan Umang (8% + Bonus)
Check GSV vs SSV, paid-up value, and 90% policy loan eligibility
Immediate monthly sovereign income up to ₹9,250/mo on joint accounts
Equated monthly principal + interest payouts over 3, 5, 7, or 10 years
Compare Jeevan Utsav against Systematic Withdrawal Plans with 12.5% LTCG
Frequently Asked Questions (LIC Jeevan Utsav Plan 771 / 871 & 883)
Does LIC Jeevan Utsav (Plan 771 / 871) pay a traditional lump-sum maturity benefit?
No. Unlike traditional endowment policies such as Jeevan Labh (Plan 736), LIC Jeevan Utsav (Modified Plan 771 / Legacy Table 871, UIN: 512N363V02) is a Non-Linked, Non-Participating Whole Life Insurance Plan that runs up to Age 100. Instead of a single maturity lump sum at the end of 15 or 20 years, it pays a guaranteed annual survival income equal to 10% of the Basic Sum Assured every year for your entire lifetime after the deferment window, while preserving your Basic Sum Assured plus ₹40/₹1,000 Guaranteed Additions as a permanent estate/death cover.
How do Guaranteed Additions (₹40 per ₹1,000) work in LIC Jeevan Utsav?
Because LIC Jeevan Utsav is a non-participating policy, its returns do not depend on variable annual bonus declarations. Instead, LIC guarantees an addition of ₹40 per ₹1,000 of Basic Sum Assured at the end of every policy year strictly during the Premium Paying Term (PPT of 5 to 16 years). For example, on a ₹10,00,000 Basic Sum Assured with a 10-year PPT, your policy accrues ₹40,000 per year × 10 years = ₹4,00,000 in Guaranteed Additions, permanently boosting your guaranteed death cover to ₹14,00,000.
When does the 10% annual lifetime income start in LIC Jeevan Utsav?
The first 10% survival payout depends on your selected Premium Paying Term (PPT): for PPT of 5, 6, 7, or 8 years, the 10% annual income starts at the end of Policy Year 11. For PPT between 9 and 16 years, there is a 2-year deferment after PPT completion, meaning the first 10% payout is credited at the end of Policy Year (PPT + 3)—for example, at the end of Year 13 for a 10-year PPT, or Year 15 for a 12-year PPT.
What is the difference between Option I (Regular Income) and Option II (Flexi Income @ 5.5% p.a.)?
Under Option I (Regular Income Benefit), LIC transfers 10% of the Basic Sum Assured directly to your bank account at the end of each policy year for life. Under Option II (Flexi Income Benefit), you can leave those annual 10% payouts with LIC, where they accumulate and compound at a guaranteed interest rate of 5.50% per annum. Policyholders under Option II can withdraw up to 75% of their accumulated Flexi balance once per policy year upon written request, or let it compound into a multi-crore retirement corpus.
What is LIC Jeevan Utsav Single Premium (Plan 883) launched in January 2026?
Launched in January 2026, LIC Jeevan Utsav Single Premium (Plan 883) is the one-time lump-sum payment variant of Jeevan Utsav. Instead of paying annual premiums for 5 to 16 years, investors make a single upfront deposit at inception, accrue ₹40 per ₹1,000 BSA Guaranteed Additions during the deferment period, and receive 10% of the Basic Sum Assured every year for life.
Are the 10% annual income payouts in LIC Jeevan Utsav tax-free under Section 10(10D)?
Under Section 10(10D) of the Income Tax Act (FY 2026–27 / AY 2027–28), survival payouts from life insurance policies are 100% tax-free only if: (a) the annual premium does not exceed 10% of the Basic Sum Assured (which requires choosing a PPT of 10 years or more), and (b) aggregate annual premiums across traditional policies issued on/after April 1, 2023 do not exceed ₹5,00,000. If you choose a short PPT (5 to 8 years) or Single Premium Plan 883, the annual premium exceeds 10% of BSA, meaning survival payouts exceeding total premiums paid are subject to slab tax under Section 56(2)(xiii). Death claim proceeds remain 100% tax-exempt in all cases.
Rated 4.9/5 based on 940 user calculations for LIC Jeevan Utsav Calculator.