LIC Jeevan Utsav Plan 771 – Lifetime Guaranteed Income & Whole Life Cover

LIC Jeevan Utsav Plan 771 is a non-linked, non-participating whole life insurance plan from Life Insurance Corporation of India. This plan is designed for individuals who want lifetime guaranteed income along with complete financial protection.

What is LIC Jeevan Utsav Plan 771?

LIC Jeevan Utsav is a whole life savings and income plan that provides guaranteed additions during the premium paying term and annual guaranteed income for life after the completion of premium payments.

Key Features of LIC Jeevan Utsav

• Whole life insurance coverage up to age 100
• Guaranteed annual income after premium paying term
• Guaranteed additions during premium payment years
• Limited premium payment terms (5 to 16 years)
• Loan facility available during the policy term

Income Options Available

• Regular Income Option: Receive guaranteed income every year
• Flexi Income Option: Accumulate income and withdraw as per need

Eligibility & Policy Details

• Minimum Entry Age: 90 days
• Maximum Entry Age: 65 years
• Premium Paying Term: 5 to 16 years
• Policy Term: Whole life (up to age 100)
• Minimum Sum Assured: ₹5,00,000

Death Benefit

In the unfortunate event of the policyholder’s death, the nominee will receive the highest of the following benefits:

• Basic Sum Assured plus Guaranteed Additions
• 7 times the annualised premium
• 105% of total premiums paid

Tax Benefits

• Premiums paid are eligible for tax deduction under Section 80C
• Income and death benefits are tax-free under Section 10(10D)