If you are looking for a simple but effective insurance savings plan, the Jeevan Utkarsh Plan 846 by LIC of India offers a great balance of protection and benefits. It is a single premium, non-linked, savings-cum-protection plan that offers assured benefits as well as loyalty additions. To help you understand how much you need to invest and what benefits you can expect, a Jeevan Utkarsh Plan 846 Calculator can be very useful.

What is Jeevan Utkarsh Plan 846?

Jeevan Utkarsh (Plan 846) is a single premium life insurance plan offered by LIC. It combines protection and savings in one plan. You pay just one premium at the start and then enjoy a policy term of 12 years.

• Single Premium Plan: You pay the premium once; there is no recurring payment.
• Policy Term: 12 years fixed.
• Non-linked Plan: It is not linked to stock markets or equities, which reduces investment risk.
• Savings cum Protection: It saves money and provides life cover simultaneously.

This plan offers both maturity and death benefits, along with optional riders for extra protection.

Key Features of the Jeevan Utkarsh Plan 846

• Premium Payment: Single premium (one-time payment).
• Policy Term: 12 years.
• Sum Assured: Minimum Rs. 75,000, no fixed maximum limit.
• Maturity Benefit: On survival for 12 years, you receive the Basic Sum Assured + Loyalty Addition (bonuses).
• Death Benefit: During the policy term, in case of death, the nominee gets the highest of
  • 125% of the single premium, or
  • Basic Sum Assured, or
  • 10 times the tabular single premium,
    along with any loyalty additions.
• Loan Facility: After 3 months from the start date, you can take a loan up to 90% of the surrender value.
• Settlement Option: Option to receive maturity or death claim in installments over 5, 10, or 15 years.
• Tax Benefits: Premiums paid qualify for deduction under Section 80C; maturity proceeds are tax-free under Section 10(10D) of the Income Tax Act.

Understanding the Death Benefit and Risk Cover

One of the most attractive features of Jeevan Utkarsh is the high risk cover. The death benefit is 10 times the single premium paid (excluding GST/rider premium), which means the plan provides strong financial protection to your family in case of your untimely death.

The risk cover, however, starts only after 5 policy years. If death occurs before 5 years, only the single premium amount (without interest) is refunded.

The plan also offers an optional Accidental Death and Disability Benefit Rider to enhance coverage.

What is Loyalty Addition?

Loyalty Addition is a bonus amount declared by LIC based on the profits earned by LIC from this plan. It is paid out at maturity and also added to death claims, which significantly increases your returns.

Why Use the Jeevan Utkarsh Plan 846 Calculator?

Estimating returns from this plan can be tricky because of the single premium, loyalty additions, optional riders, and settlement choices. The calculator helps you to:

• Calculate the single premium payable based on age and sum assured.
• Estimate maturity benefits, including loyalty additions.
• Calculate the death benefit amount.
• Understand the impact of optional riders on premium and benefits.
• Calculate surrender value and loan eligibility.
• Explore settlement options for receiving maturity proceeds.

Using the calculator saves time, avoids confusion, and helps you make an informed decision.

How Does the Jeevan Utkarsh Plan 846 Calculator Work?

The calculator requires inputs such as

1. Age of the Life Assured
2. Sum Assured (the desired insurance cover)
3. Rider Options (optional Accidental Death and Disability Rider)
4. GST and other applicable charges

Based on these inputs, the calculator outputs:

• The single premium to be paid upfront.
• The maturity amount expected after 12 years.
• The death benefit amount payable to nominees.
• Potential loan and surrender values during the policy term.

Calculations are based on LIC’s premium and benefit tables, incorporating rebates, GST, and loyalty additions.

Step-by-Step Guide to Using the Calculator

To use the Jeevan Utkarsh Plan 846 calculator effectively, follow these steps:

Step 1: Enter Age and Sum Assured

Provide the age of the person to be insured (minimum 6 years, maximum 47 years) and the desired sum assured (minimum Rs. 75,000).

Step 2: Choose Rider Options

Select if you require an accidental death and disability rider—which increases protection but also the premium.

Step 3: View Premium Payable

The calculator displays the exact premium payment, including GST and rider premium (if any). This is the amount you need to pay once.

Step 4: See Estimated Maturity Benefit

The maturity benefit is the sum assured plus loyalty additions LIC declares at maturity. This helps you understand your expected returns.

Step 5: Check Death Benefit Amount

It shows the amount payable to your nominee on death during the policy term, which includes 10 times the premium plus loyalty additions.

Step 6: Explore Settlement Options

If you prefer not to receive a lump sum at maturity, you can opt for installments payable over 5, 10, or 15 years.

Example: Using the Jeevan Utkarsh Plan 846 Calculator

Suppose Ram, aged 30, wants to buy Jeevan Utkarsh with a basic sum assured of Rs. 5,00,000.

• The calculator estimates his single premium payable as Rs. 2,62,450 (approx).
• If he opts for accidental death rider, premium increases to Rs. 2,67,000 approx.
• If Ram survives 12 years, the maturity benefit payable will be Rs. 5,00,000 + loyalty addition (bonus).
• If Ram passes away during the policy term after 5 years, nominees receive 10 times single premium i.e. approx Rs. 26,24,500 + loyalty addition.
• If death occurs within 5 years, only the single premium is refunded.

This example demonstrates the large financial protection plus decent maturity benefit this plan offers.

Benefits of Jeevan Utkarsh Plan 846

• High Sum Assured for protection with a single premium.
• No market-linked risk: Since it is non-linked, returns are safer.
• Loyalty additions enhance final maturity payouts.
• Flexibility with optional riders and settlement options.
• Loan facility after 3 months for emergencies.
• Tax saving under Section 80C and tax-free maturity.
• Simple and easy to understand single premium plan.
• Long tenure of 12 years ensures disciplined savings.

Important Points to Remember

• The plan is available for a limited period only; currently it may be withdrawn.
• The risk cover starts after 5 completed policy years.
• The minimum age to apply is 6 years and the maximum is 47 years.
• The policy term is fixed at 12 years; it cannot be changed.
• Single premium cannot be refunded except in case of death within five years or surrender as per LIC rules.
• Loyalty additions depend on LIC’s profit and are not guaranteed.
• GST is applicable on the premium as per government norms.
• Nominee details are important to update for smooth claim processes.

How to Calculate Manually (Basic Formula)

If you want to get a rough idea without a calculator, here is a simple way:

1. Determine the basic single premium based on age and sum assured (available in LIC premium tables).
2. Calculate the death benefit as 10 times the single premium paid.
3. Add loyalty additions at maturity (these vary every year).
4. Include rider premium if opted.
5. Add GST (usually 4.5%) on the total premium.

However, this is complex and prone to error. Using an online Jeevan Utkarsh Plan 846 calculator is recommended for precise figures.

Where to Find a Jeevan Utkarsh Plan 846 Calculator?

Several insurance websites, LIC’s official portals, and financial advisory sites provide Jeevan Utkarsh calculators. Some popular options include:

• LIC official website (when available)
• InsuranceFunda.in Jeevan Utkarsh Calculator
• Insurance21.in
• BimaPremiumCalculator.in

Using these calculators can help make quick premium and benefit calculations based on your input.

Who Should Consider Jeevan Utkarsh Plan 846?

This plan is ideal for:

• People who want a single premium plan with fixed returns.
• Investors preferring low risk without market-linked exposure.
• Individuals seeking combined savings and insurance.
• Those looking for high life cover with a relatively small upfront premium.
• Customers who want flexible maturity payout options.
• People desiring tax benefits.

How is Jeevan Utkarsh Plan 846 Different from Other LIC Plans?

Feature	Jeevan Utkarsh 846	Regular Endowment Plans	ULIPs (Market Linked Plans)
Premium Type	Single Premium	Regular Premium (Yearly/Monthly)	Regular Premium
Investment Link	Non-linked (no market exposure)	Usually non-linked	Linked to market (equities, funds)
Policy Term	Fixed 12 years	Varies, generally 15-20 years	Flexible
Death Benefit	10 times single premium	Sum assured plus bonuses	Fund value or sum assured
Maturity Benefit	Sum assured + Loyalty Addition	Sum assured + bonuses	Fund value depends on market performance
Loan Facility	Available after 3 months	Available	Available
Risk Start	After 5 policy years	From start	From start
Tax Benefits	Yes	Yes	Yes

The Jeevan Utkarsh Plan is unique due to its large risk cover with a single premium and fixed term, whereas other plans either have regular premiums or market-linked risks.

FAQs About Jeevan Utkarsh Plan 846 Calculator

Conclusion

The Jeevan Utkarsh Plan 846 is a great option for anyone looking for a balanced, low-risk single premium insurance plan with both safety and decent savings. Using a Jeevan Utkarsh Plan 846 Calculator before buying the plan is essential to understand your premium obligations, expected maturity benefits, and risk cover details.

Considering the fixed 12-year term and high death benefit multiples, this plan offers excellent value for those wanting simple and secure life insurance combined with disciplined savings.