📈 Lifetime Income: 10% of BSA per year, starting Policy Year max(PPT+3, 11), for the rest of your life. The income does not stop — it continues regardless of how long you live. This is a whole life plan with no maturity date.
🆕 Death Cover: max(BSA, 7×Annualized Premium) + all accrued Guaranteed Additions, subject to minimum 105% of all premiums paid.
| Year | Age | Premium (₹) | Annual GA | Accrued GA | Death Benefit | Annual Income | Cumul. Income | Surr. Value (GSV) | Status |
|---|
Annual GA = 4% of BSA (only during PPT). Surrender Value = Guaranteed Surrender Value (GSV) = premiums paid × GSV% + accrued GA × GA-GSV% − cumulative income paid (Option I). Actual SSV may be higher.
Status: Premium = PPT only | Deferral = post-PPT pre-income | Income = income phase | Prem+Inc = premium & income overlap
Note: GST applies at 4.5% (Year 1) and 2.25% (Year 2 onwards) on the annual premium. Income received is tax-free under Sec. 10(10D) subject to conditions.
If you’re looking for a life insurance plan that gives guaranteed income and lifelong cover, the LIC Jeevan Utsav Plan (No. 771) might be the one for you.
It’s a new version of the old Jeevan Utsav (Plan 871), updated under the IRDAI 2024 rules.
Before buying, it’s smart to use the LIC Jeevan Utsav Plan Calculator.
It helps you see how much you’ll pay, what you’ll earn, and what benefits you’ll get.
Let’s break it down in simple words.
Do you want calculate other lic Plan? go to LIC Plan Calulator
What Is LIC Jeevan Utsav Plan 771?
LIC Jeevan Utsav is a Non-Linked, Non-Participating, Whole Life Savings Plan.
That means your money is not tied to the stock market, and your returns are guaranteed.
This plan gives lifetime insurance coverage and a steady income after a few years.
You pay the premium for a limited time — between 5 to 16 years — and then enjoy income benefits for life.
It’s available offline and online through the LIC website.
How the LIC Jeevan Utsav Plan Calculator Works
The calculator is an online tool that helps you estimate your plan details.
It’s quick and accurate.
You just need to enter:
- Age
- Premium Paying Term (PPT)
- Basic Sum Assured (minimum ₹5 lakh)
- Income Option (Regular or Flexi)
Then it shows your:
- Premium amount
- Guaranteed Additions
- Yearly income benefit
- Death benefit
You can use it on the official LIC website or the My LIC app.
LIC Jeevan Utsav Plan Details at a Glance
| Feature | Details |
| Plan Name | LIC Jeevan Utsav – Plan No. 771 |
| Plan Type | Whole Life, Non-Linked, Non-Par, Savings Plan |
| Minimum Sum Assured | ₹ 5 lakh |
| Maximum Sum Assured | No limit (Subject to underwriting) |
| Premium Paying Term (PPT) | 5 to 16 years |
| Entry Age | 30 days to 65 years |
| Premium Ceasing Age | 75 years |
| Guaranteed Additions | ₹ 40 per ₹ 1,000 of Basic Sum Assured each year |
| Income Options | Regular Income Benefit / Flexi Income Benefit |
| Loan Facility | After 1 full year |
| Riders Available | Accidental Death & Disability, Accident Benefit, Term Assurance, Premium Waiver |
| Maturity Benefit | Not available (Whole-Life Policy) |
Two Income Options to Choose From
🔹 Option 1 – Regular Income Benefit
You’ll get 10% of your Basic Sum Assured every year, once the premium paying term ends.
It’s a fixed yearly income — simple and steady.
🔹 Option 2 – Flexi Income Benefit
You also get 10% of Basic Sum Assured per year, but you can defer or save it.
LIC adds 5.5% interest (compounding yearly) on the saved amount.
You can withdraw up to 75% once a year.
It’s flexible and suits those who want to grow or delay their income.
Guaranteed Additions
LIC Jeevan Utsav offers Guaranteed Additions during the Premium Paying Term.
You get ₹ 40 per ₹ 1,000 Basic Sum Assured every year.
No extra conditions.
It adds up quickly and boosts your total returns.
Optional Riders for Extra Protection
You can enhance your plan with these riders:
- Accidental Death & Disability Benefit Rider
- Accident Benefit Rider
- New Term Assurance Rider
- Premium Waiver Benefit Rider (for minor lives)
These riders help your family stay financially safe during tough times.
Eligibility & Basic Rules
| Condition | Details |
| Entry Age | 30 days – 65 years |
| Sum Assured | ₹ 5 lakh and above |
| Loan Option | After 1 year (if one premium paid) |
| Surrender Option | After 1 full year |
| Grace Period | 30 days (15 days for the monthly mode) |
| Policy Term | Whole life |
| Premium Mode | Yearly, Half-Yearly, Quarterly, Monthly (NACH only) |
Example – How to Calculate Your Returns
Let’s take a simple example.
- Age: 35 years
- Premium Paying Term: 10 years
- Basic Sum Assured: ₹ 10 lakh
- Option: Regular Income Benefit
👉 Guaranteed Additions = ₹ 40 × 10 × (₹ 10 lakh ÷ 1,000) = ₹ 4 lakh
👉 Annual Income after PPT = 10% of ₹ 10 lakh = ₹ 1 lakh per year
So, after 10 years of premium, you’ll start getting ₹ 1 lakh every year for life, plus all guaranteed additions.
Use the LIC Jeevan Utsav Plan Calculator on LIC’s official site for exact figures.
Why Use the LIC Jeevan Utsav Plan Calculator
- It shows the exact premium you’ll pay.
- It estimates your Guaranteed Additions and annual income.
- You can compare the Regular and Flexi options easily.
- Helps plan long-term goals with clear numbers.
Always check LIC’s official calculator for accurate results and tax details.
Why People Like the Jeevan Utsav Plan
- Lifetime cover with guaranteed returns.
- Regular or flexible income options.
- High loan and surrender value after a year.
- Option to add riders for more protection.
- Trusted brand — Life Insurance Corporation of India.
It’s simple, reliable, and perfect for those who want a steady income after retirement.
Other Related LIC Plan Calculators:
- LIC 917 Plan Calculator
- LIC Plan 178 Maturity Calculator
- LIC Plan 133 Maturity Calculator
- LIC Plan 815 Maturity Calculator
- LIC Plan 836 Maturity Calculator
- LIC Plan 814 Maturity Calculator
- LIC Plan 833 Maturity Calculator
- LIC Child Plan 832 Premium Calculator
- LIC Child Plan Calculator [Plan No. 934 & 932]
- LIC Jeevan Saral Plan 165 Maturity Calculator
- LIC Dhan Vriddhi Plan Calculator
- LIC New Jeevan Shanti Plan Calculator
- LIC 914 Plan Calculator
- LIC Jeevan Rakshak Plan 827 Maturity Calculator
FAQs – LIC Jeevan Utsav Plan Calculator
Q1. What is LIC Jeevan Utsav Plan 771?
It’s a whole-life savings plan by LIC offering guaranteed income and lifelong coverage.
Q2. How does the calculator help me?
It shows your premium, returns, and benefits before you buy the policy.
Q3. What is the minimum sum assured?
₹ 5 lakh. There’s no upper limit.
Q4. When do I start getting income benefit?
From the 11th to 19th policy year, depending on your premium term.
Q5. Is there a maturity amount?
No. It’s a whole-life plan that provides income for life instead of a one-time maturity.
Q6. Can I take a loan?
Yes, after one year if you’ve paid one full premium.
Q7. Are riders available?
Yes — Accidental Death & Disability, Accident Benefit, Term Assurance, and Premium Waiver.
Final Thought
The LIC Jeevan Utsav Plan Calculator makes it easy to plan your insurance smartly.
You see your premium, benefits, and returns clearly before investing.
The plan gives you lifetime protection and guaranteed income — a rare combination.
If you want steady returns with peace of mind, LIC Jeevan Utsav Plan 771 is worth considering.
Always calculate before you commit — because your money deserves clarity.
Mohibul Islam is an LIC agent with 7+ years of experience. He also works in web development and blogging. He creates simple tools on LIC Plan Calculator to help people understand LIC plans, calculate benefits, and make better financial decisions easily.