LIC Jeevan Utsav Single Premium Plan Calculator

LIC Jeevan Utsav Single Premium (Plan 883) is one of the latest life insurance plans from the Life Insurance Corporation of India (LIC). It is designed for those people who want to long-term protection, guaranteed benefits, and a simplified premium payment option.

Where this is a single premium plan, where you have to pay the premium only at once at time of buy this plan, and the policy continues for many years with benefits like survival income and death cover.

To understand to this plan, how much premium you may need to pay and what returns you can expect, the LIC Jeevan Utsav Single Premium Plan Calculator becomes very useful.

In this article, we will explain what this calculator is, how it works, its benefits, inputs required, and why it is important before buying the policy.

What is LIC Jeevan Utsav Single Premium Plan?

LIC Jeevan Utsav Single Premium is a non-linked, non-participating, individual savings life insurance plan. It provides following benefits :

• Life cover for the full policy term
• Guaranteed additions during the premium-paying period
• Regular survival benefits after the income start year
• Lump sum death benefit in case of unfortunate death

This plan is only suitable for individuals who want guaranteed financial support for the future with just one-time investment.

What is LIC Jeevan Utsav Single Premium Plan Calculator?

The LIC Jeevan Utsav Single Premium plan Calculator is an online tool that are helps you to estimate the benefits of the plan before purchasing it.

Hello friends, With using this calculator, you can easily check:

• Approximate single premium amount
• Guaranteed additions per year
• Survival benefit income amount
• Total maturity or long-term benefits
• Death benefit payable

Instead of doing complex manual calculations, the calculator gives instant results in seconds.

Why Use LIC Jeevan Utsav Single Premium Plan Calculator?

Are you know that Buying an insurance plan is a long-term commitment and every one has confusion to know there benefits of any plan . but this calculator will helps you make an informed decision.

Here are the main reasons why LIC Jeevan Utsav Single Premium Plan Calculator is useful:

1. Quick Premium Estimate

This calculator will gives you an idea of how much one-time premium you need to pay based on your sum assured.

2. Understand Guaranteed Additions

It shows the yearly guaranteed additions that increase your benefit value over time.

3. Income Planning Made Easy

You can check how much survival benefit income you will receive annually once the income period starts.

4. Compare Options

You can try different sum assured values and income start years to choose the best option.

5. Better Financial Decision

It helps you understand whether the plan matches your future goals like retirement income or wealth creation.

Inputs Required in the Calculator

Here we are seen what is required to get best result .To calculate the benefits accurately, you need to enter some basic details:

Age of Policyholder

The entry age is important because premium depends on age.

Basic Sum Assured

This is the main coverage amount chosen by the customer.

Income Start Year Option

LIC Jeevan Utsav allows you to choose when the survival benefit should begin, such as:

• After 15 years
• After 20 years
• After 25 years

Policy Term Details

The plan works for a long duration, and benefits depend on term selection.

Benefits Calculated by the Tool

A good LIC Jeevan Utsav Single Premium plan Calculator provides the following outputs:

1. Single Premium Amount

This is the one-time premium payable at the start of the policy.

Example:
If Sum Assured = ₹10,00,000
Single Premium may be around ₹8,50,000 to ₹9,00,000 (approx).

2. Guaranteed Additions (GA)

Guaranteed Additions are added every year for a fixed period.

GA depends on the sum assured.

Example:
GA = ₹40 per ₹1,000 Sum Assured per year
For ₹10,00,000 Sum Assured:
GA = ₹40,000 per year

3. Survival Benefit (Regular Income)

Once the income start year is completed, LIC pays a fixed survival benefit every year.

Example:
Survival Benefit = 6.5% of Sum Assured
For ₹10,00,000:
Annual Income = ₹65,000

4. Death Benefit

In case of death during the policy term, nominee receives:

• Death Sum Assured + Accrued Guaranteed Additions

This provides strong financial security to the family.

5. Benefit Illustration Table

Most calculators also provide a year-wise table showing:

• Policy year
• Age
• Guaranteed additions
• Cumulative GA
• Death benefit
• Survival payout

This makes the plan easier to understand.

Example Calculation (Simple Illustration)

Let’s take an example:

Rajesh has choose this LIC Jeevan Utsav Single Premium plan with the following inputs :

• Age: 35 years
• Sum Assured: ₹10,00,000
• Income Start Year: 20

Estimated Results:

This is only an estimate. Actual LIC values depend on official premium rates.

Who Should Use This Calculator?

The calculator is ideal for:

• People looking for one-time premium investment
• Retirement income planners
• Individuals wanting guaranteed long-term returns
• Parents planning future financial security
• Anyone comparing LIC plans before purchase

Key Advantages of LIC Jeevan Utsav Single Premium Plan Calculator

Here are many advantage of using this calculator are listed below :

• Easy to use
• Instant results
• Helps in financial planning
• Shows benefit projections clearly
• Works on mobile, tablet, and desktop
• Helps compare different sum assured options

Important Note (Disclaimer)

The calculator provides an approximate illustration for understanding purposes only.

Actual benefits depend on:

• LIC official premium charts
• Age and policy conditions
• Taxes and GST
• Final policy issuance rules

Always confirm with LIC agent or official brochure before buying.

Conclusion

The LIC Jeevan Utsav Single Premium Plan Calculator is one of the best tools for anyone planning to invest in Plan 883. It helps you to understand the premium requirements, guaranteed additions, survival income, and death benefits clearly.

Before purchasing any insurance plan, using a calculator is a smart step. It gives clarity, confidence, and better financial decision-making.

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