I Built This LIC Jeevan Utsav Calculator to Give You the Unvarnished Truth (2025)
As a financial planner for over 20 years, I've seen countless plans. Jeevan Utsav is different. This calculator is based on LIC’s official brochure (UIN 512N363V02), but my goal is to give you the clarity that official documents often lack. Let's find out if it's right for you.
Your Personal Jeevan Utsav Calculator (Plan 871)
No jargon, just answers. Enter your details below, and I'll show you exactly what your premiums and guaranteed lifetime income could look like.
LIC Jeevan Utsav Plan Calculator: The Bottom Line Up Front
Before we dive deep, you probably just want to know: 'What does this look like in real numbers?' I get it. Here are two common scenarios I run for my clients, crunched through the LIC Jeevan Utsav Plan Calculator.
| Your Profile | Your Goal | Your Commitment (PPT) | Your Payout (Post-PPT) | Bonus You Get (GAs) |
|---|---|---|---|---|
| Age 30, ₹10L Cover | Steady Lifelong Income | 12 Years | ₹1L/year for life (Regular Income) | ₹4.8 Lakh total |
| Age 40, ₹20L Cover | Build a Flexible Kitty | 10 Years | Pool grows @ 5.5% p.a. (Flexi Income) | ₹8 Lakh total |
My Take: These are solid, guaranteed numbers in a world of market uncertainty. The real premiums will depend on LIC's final underwriting, but this gives you a rock-solid starting point.
My Plain-English Guide to LIC Jeevan Utsav (Plan 871)
After analyzing dozens of plans, I can tell you Jeevan Utsav stands out. It’s a whole-life savings plan where you pay premiums for a short, fixed period (5-16 years) but get benefits for life. Here are the two things you absolutely need to know:
- Guaranteed 'Bonus' Every Year You Pay: During your premium paying term, LIC adds a 'Guaranteed Addition' of ₹40 for every ₹1,000 of your Basic Sum Assured. This is not a market-linked bonus; it's a contractual promise.
- A Lifelong Paycheck After You Stop Paying: Once your premium payment term (PPT) ends, there's a 2-year deferment period. After that, you start receiving a lifetime income. You have two choices: get a fixed 10% of your Sum Assured every year (Regular Income), or let that money sit with LIC and grow at a guaranteed 5.5% interest rate (Flexi Income), which you can withdraw later.
My advice: If you want a guaranteed income stream in retirement without the headaches of the stock market, Jeevan Utsav is one of the most compelling options LIC has launched in years.
How My Jeevan Utsav Premium Calculator Works (No Black Box Here)
I believe in transparency. Here's the exact logic I've built into this tool, straight from LIC's rulebook.
1. Your Premium Calculation
I start with LIC's base premium rates and then add the standard 'modal loadings' to show you the precise cost for half-yearly, quarterly, or monthly payments. No surprises.
2. Your Guaranteed Additions (GAs)
This is your reward for staying invested. The formula is simple and powerful: GA per year = (Your Sum Assured / 1000) × 40. These are added every single year you pay premiums.
3. Your Lifetime Income
- Regular Income: After your premium term and a 2-year deferment, you get a straight
10% × Your Sum Assuredevery year, for life. Simple and predictable. - Flexi Income: If you don't take the 10% income, it goes into a pot that grows at a guaranteed 5.5% compounded annually. My calculator shows you how this 'kitty' can grow over time.
4. Your Family's Protection (Death Benefit)
This is crucial. The death benefit is your 'Sum Assured on Death' (which is equal to your Basic Sum Assured) plus all the Guaranteed Additions you've collected. Crucially, LIC guarantees this will never be less than 105% of all the premiums you've paid. It's a powerful safety net.
The Three Formulas You Need to Know
- Total Guaranteed Additions =
(Sum Assured / 1000) × 40 × Premium Paying Term - Annual Regular Income Payout =
0.10 × Sum Assured - Your Flexi Income Growth (after N years of not withdrawing) =
(Annual Income) × [((1.055)^N - 1) / 0.055]
LIC Jeevan Utsav Calculator: 6 Real-Life Scenarios
Jeevan Utsav vs. The Classics: Head-to-Head with Jeevan Utsav Calculator
How does Jeevan Utsav stack up against other LIC fan-favorites like Jeevan Umang and New Jeevan Anand? Here’s my take.
| Plan | My Verdict: What It's Really For | The Key Difference |
|---|---|---|
| Jeevan Utsav (871) | Building a flexible, guaranteed income stream for retirement. | You get Guaranteed Additions + a choice between regular or growing income. |
| Jeevan Umang (945) | Creating a simple, pension-like annual payout for life. | It gives a straight 8% of Sum Assured as annual income, with bonuses added. |
| New Jeevan Anand (915) | A classic savings plan for a specific goal, with lifelong risk cover as a bonus. | You get a big lump sum at the end, AND your family still gets the Sum Assured on death. |
Eligibility, Riders, Loan & Surrender: The Fine Print
- Who can buy it? Almost anyone, from a 90-day-old infant to a 65-year-old.
- Minimum Cover (BSA): You have to start with at least ₹5,00,000.
- Premium Terms: You can choose to pay for as little as 5 years or as long as 16 years.
- Benefit Triggers: GAs accrue during the PPT. Income begins 2 years after the PPT ends (the deferment period).
- Riders: Yes, you can add riders for Accidental Death, Disability, Critical Illness, and a Premium Waiver Benefit. I highly recommend the AD&DB rider for the primary earner.
- Loan & Surrender: The policy acquires surrender value and loan eligibility after paying premiums for at least one full year (for PPT 5-9) or two full years (for PPT 10-16). While you *can* surrender, making it 'Paid-Up' is often a smarter financial move to preserve value.
Taxes & Charges: What the Government Takes
- Your Investment (80C): The premiums you pay are usually eligible for deduction under Section 80C, which can lower your taxable income.
- Your Payout (10(10D)): The income and death benefits you receive are generally tax-free under Section 10(10D), but always check the latest rules as they can change.
- GST on Premium: Yes, there's GST. It's typically around 4.5% in the first year and drops to about 2.25% thereafter. My calculator doesn't include this as it's a tax, not part of the investment return, but it's a real cost you should be aware of.
Jeevan Utsav Premium Calculator FAQ: Your Questions Answered Honestly
My Final Take: Is Jeevan Utsav the Right Choice for You?
After reviewing hundreds of financial products, I can tell you that Jeevan Utsav is a compelling option for a specific type of investor: someone who values certainty over speculation. If you want to lock in a guaranteed, lifelong, tax-free income stream for your retirement without being exposed to market risks, this plan is one of the strongest contenders LIC has ever offered. It’s not for the aggressive wealth builder, but for creating a foundation of absolute financial security, it's a top-tier choice. I hope this guide and calculator have given you the clarity and confidence to decide if it fits into your financial story.
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