LIC JEEVAN UTSAV POLICY 871 - LIC SHORT TERM PLAN - LIC 5 YEARS PLAN

 

LIC JEEVAN UTSAV policy 871 

Jeevan Utsav (871) is a non-linked, guaranteed benefit, whole life assurance plan. Guaranteed additions @ Rs 40 per 1000 Sum Assured shall get accrued to the policy account throughout the premium paying term. Guaranteed survival benefits at the rate of 10% of the sum assured shall be available (from the specific income start year) throughout the life of the policyholder. Sum Assured on death along with accrued guaranteed additions shall be paid as the death benefit to the nominee.

Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly(ECS)

Minimum Entry Age: 90 days (completed)

Maximum Entry Age: 65 Years (nbd)

Premium Paying Term(PPT) : 5 to 16 Year

Minimum Sum Assured: 5,00,000

Maximum Sum Assured: NO LIMIT (Depending upon Income)

Maximum Accidental Death and Disability Benefit Rider up to age 70.

Key Features of LIC Jeevan Utsav Plan

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• The policyholder gets a guaranteed Income for a Lifetime. 
• Two Options in the plan  -  regular income benefit or flexi income benefit.
• Rs. 40 per thousand Sum Assured Guaranteed Additions, till the premium paying term.
• The second option is to defer and accumulate the income paid at an attractive investment rate of Rs 5.5% per year and compound annually.
• Income benefits can be changed before six months of the payments.
• Minimum term from 5 years to 16 years only.
• This plan is available for the 90-day child to 65 years older person.

Jeevan Utsav Policy Benefits :

On Death :

Basic Sum Assured + GA if any.,OR 7 times of Annualized Premium, OR

105%of all Premiums paid as on death, WHICHEVER IS HIGHER.

On Survival :

10 % of the sum assured shall be paid every year(from the income start year) till 100 years of age and on surviving the period, the Sum assured + accrued Guaranteed Additions shall be paid at the age of 100 or on death.

 

Surrendered Value: The Policy can be surrendered at any time during the policy term provided at least 2 full years of premiums have been paid.

Loan: A loan Facility is available under this plan, after payment of premiums for at least 2 full years.

Income Tax Benefit :  Please read the offer document fully