Use the LIC Jeevan Utsav Plan 771 Calculator to find premium details and lifelong income benefits. Secure your future with guaranteed returns.

The Life Insurance Corporation of India (LIC), a trusted name in life insurance, offers a unique whole life insurance plan called LIC Jeevan Utsav Plan 771. This plan is designed to provide individuals with financial security for themselves and their families by offering guaranteed lifelong income along with life coverage that lasts up to 100 years.

Whether planning for retirement or looking for a reliable savings and protection plan, LIC Jeevan Utsav Plan 771 combines insurance, savings, and pension features in a single policy. It is a non-linked, non-participating, whole life insurance plan, meaning the benefits are fixed, guaranteed, and not linked to market performance. You pay premiums for a limited period, and after that, enjoy lifelong guaranteed income.

Before buying this plan, it is important to understand how the premiums are calculated, what returns and benefits you can expect, and how to use the LIC Jeevan Utsav Plan 771 Calculator effectively. This article will explain everything in simple terms.

What is LIC Jeevan Utsav Plan 771?

LIC Jeevan Utsav Plan 771 is a whole life insurance policy allowing policyholders to pay premiums for a limited number of years (from 5 to 16 years). Once the premium payment term ends, the policyholder starts receiving guaranteed income annually for life, till the age of 100.

Key Features of the Plan

• Plan Type: Non-linked, non-participating whole life plan.
• Entry Age: 90 days to 65 years.
• Policy Term: Whole life (coverage up to 100 years of age).
• Premium Payment Term: Options from 5 to 16 years.
• Guaranteed Income: Starts after the premium payment term ends.
• Sum Assured: Minimum ₹5,00,000 and above (multiples of ₹25,000 or ₹1,00,000).
• Death Benefit: Sum assured payable to nominee on death.
• Maturity Benefit: Sum assured if the policyholder survives till 100 years.
• Loan Facility: Loans available against policy after 1 year.
• Riders: Accident benefit, accidental death and disability, term rider, and premium waiver are available.

This plan is ideal for those looking for a secure retirement income with the added benefit of life cover to protect their family’s financial future.

Benefits of LIC Jeevan Utsav Plan 771

This plan offers the following benefits, making it attractive for long-term financial planning:

1. Guaranteed Lifetime Income

Once you complete paying your premiums over the chosen term, you receive a fixed guaranteed income every year for the rest of your life, up to 100 years of age. This income acts like a pension, providing financial stability after retirement or during old age.

2. Two Income Options for Flexibility

You can choose from two types of income options:

• Regular Income Option: Receive fixed yearly payouts.
• Flexi Income Option: Accumulate income instead of withdrawing immediately and withdraw later as per your need with interest.

This flexibility lets you tailor your income stream based on your financial requirements.

3. Comprehensive Life Cover

The plan provides life insurance coverage throughout the policy term. In case of unfortunate death before maturity, your nominee receives the sum assured, offering financial protection.

4. Maturity Benefit

If the policyholder survives till 100 years, they receive the full sum assured as a maturity benefit.

5. Loan Availability

You can avail loans against the policy after completion of 1 year of premium payments, providing liquidity during emergencies.

6. Tax Benefits

Premiums paid qualify for tax deductions under Section 80C, while payouts may be exempt from tax under Section 10(10D), subject to applicable tax laws.

How to Use LIC Jeevan Utsav Plan 771 Calculator

The LIC Jeevan Utsav Plan 771 Calculator is an online tool that helps prospective buyers estimate the premiums they need to pay, the guaranteed income they will receive, and the maturity benefits of the policy. The calculator simplifies decision-making by providing clear financial projections before you buy.

Steps to Use the Calculator

1. Enter Basic Details: Provide age, gender, and policy term details.
2. Select Sum Assured: Choose the amount of life cover you want (minimum ₹5 lakh).
3. Choose Premium Paying Term: Pick how long you want to pay premiums (5 to 16 years).
4. Choose Premium Mode: Options include yearly, half-yearly, quarterly, or monthly.
5. Calculate: The calculator computes your premium amount, guaranteed yearly income after the premium term, and maturity benefits.

This helps you compare different terms and sums assured to decide the best option for your financial goals.

Example Using LIC Jeevan Utsav Plan 771 Calculator

Suppose a 35-year-old opts for LIC Jeevan Utsav with:

• Sum Assured: ₹20,00,000
• Premium Paying Term: 12 years
• Premium Mode: Yearly

Using the calculator, the approximate annual premium will be around ₹150,000. Post completion of 12 years, the policyholder will receive a guaranteed income of approximately ₹1,60,000 every year till age 100, along with the ₹20,00,000 sum assured on survival till 100.

This means a total benefit amount well above the total premiums paid, ensuring healthy long-term returns and financial security.

Premium Payment Term and Policy Term Explained

In the LIC Jeevan Utsav plan, the premium paying term (PPT) is limited to 5 to 16 years, which means you pay premiums only for this fixed number of years.

However, the policy provides whole life coverage till age 100. This means that after the premium payment phase ends, you’ll enjoy guaranteed income annually for the balance years, creating a secure and steady income source in later life.

The premium payment term you choose directly affects:

• The amount of yearly premium to be paid.
• The annual guaranteed income you receive after premiums end.
• The total maturity benefit payable on survival to age 100.

Premium Modes and Taxes

You can pay your premium in different modes—yearly, half-yearly, quarterly, or monthly (via NACH). The GST applicable on premiums is 4.5% in the first year and 2.25% thereafter.

Premiums qualify for tax benefits under Section 80C of the Income Tax Act, 1961. Payouts from the plan, including death benefits and maturity sums, may be exempt under Section 10(10D), subject to prevailing tax laws.

Riders Available in LIC Jeevan Utsav Plan 771

To enhance your coverage, LIC provides optional riders, which are add-ons for additional protection:

• Accident Benefit Rider: Provides extra sum assured in case of accidental death.
• Accidental Death and Disability Benefit Rider: Covers accidental death and permanent disability.
• Term Rider: Offers additional term insurance cover.
• Premium Waiver Benefit Rider: Waives future premiums in case of disability or critical illness.

Riders require payment of additional premiums but substantially increase financial security.

Who Should Buy LIC Jeevan Utsav Plan 771?

• Individuals seeking guaranteed income for life after a limited premium payment period.
• Those who want a whole life insurance cover ensuring financial security for family.
• Retirees or near-retirees looking for stable, regular income.
• People who prefer a traditional, non-market-linked insurance plan with fixed returns.
• Anyone interested in a combination of insurance, savings, and pension in one policy.

Advantages and Limitations

Advantages

• Guaranteed fixed income for life after premium payment.
• Flexible premium payment terms from 5 to 16 years.
• Life cover up to age 100.
• Option to accumulate income with interest (Flexi Income).
• Loan facility available.
• Multiple riders for enhanced protection.
• Tax benefits on premiums and payouts.

Limitations

• No participation in LIC’s profits or bonuses (non-participating plan).
• The guaranteed income rate is fixed and not linked to market returns.
• Premiums and benefits depend on age and sum assured; higher cover means higher premiums.
• Limited flexibility after policy commencement.

Where to Access the LIC Jeevan Utsav Plan 771 Calculator?

You can use the LIC Jeevan Utsav Plan 771 calculator on:

• The official LIC India website.
• Popular insurance and financial websites like Policybazaar and LIC Calculators portals.

These calculators are free, quick, and give an instant estimate of premiums and benefits. Using the calculator before buying helps you understand how much you need to invest and what returns you can expect.

Frequently Asked Questions

Conclusion

LIC Jeevan Utsav Plan 771 is a perfect solution for those who want financial security with guaranteed lifelong income combined with life cover. Its limited premium paying term and whole life coverage make it a unique policy for savings, protection, and pension.

By using the LIC Jeevan Utsav Plan 771 Calculator, prospective policyholders can easily estimate premiums, income, and maturity benefits tailored to their age and financial goals. This smart tool enables informed decision-making and helps plan a secure financial future.