LIC · Savings · Guaranteed Income
Jeevan Utsav Single Premium
The single-premium version of Jeevan Utsav — pay once, then receive a fixed annual income for life (regular or accumulating/flexi) after a chosen guaranteed-addition period, plus lifelong death cover.
Product data last fetched 26 August 2026. Features, premiums and availability may change — verify against the official brochure/policy wording before deciding.
The truth card
PurposeSavings — Traditional
CategoryGuaranteed Income
InsurerLIC
Life CoverNot available in the current product data
PremiumNot available in the current product data
Policy TermNot available in the current product data
Premium-Paying TermNot available in the current product data
GuaranteeNot available in the current product data
Market ExposureNot applicable — non-linked
LiquidityNot available in the current product data
Lock-inNot available in the current product data
ChargesNot available in the current product data
Maturity BenefitNot available in the current product data
Death BenefitNot available in the current product data
SurrenderNot available in the current product data
Paid-upNot available in the current product data
Tax NotesDepends on policy structure, premium amount, issue date and applicable tax law — see our tax notes
XIRRNot available in the current product data
What this product is
The single-premium version of Jeevan Utsav — pay once, then receive a fixed annual income for life (regular or accumulating/flexi) after a chosen guaranteed-addition period, plus lifelong death cover.
You might need this if…
- You might need this if you have a lump sum available now and want to convert it into a guaranteed lifetime income stream with no further payments.
- You might need this if you want to choose how long the initial accumulation phase lasts (7-17 years) before income starts.
- You might need this if you want flexibility to accumulate income and withdraw it as needed instead of a fixed annual payout.
- You might need this if you want simplicity — a single transaction rather than years of ongoing premiums.
How it actually works
- Entry age 30 days to 65 years; single premium only; choose a guaranteed-addition period between 7-17 years before income starts.
- Minimum Basic Sum Assured ₹5,00,000.
- Option I (Regular Income): 10% of Basic Sum Assured paid every year starting after the chosen guaranteed-addition period; Option II (Flexi Income): same amount accumulated at 5.5% p.a., withdrawable up to 75% annually.
- Death benefit: higher of Basic Sum Assured or 1.25x the tabular single premium, plus accrued guaranteed additions.
- Guaranteed Additions of ₹40 per ₹1,000 of Basic Sum Assured accrue only during the chosen guaranteed-addition period.
- Optional riders: accidental death & disability (to age 70), and new term assurance (35-year term or to age 75) — combined cap 30% of base premium.
Worked example
For a ₹5 lakh Basic Sum Assured with a 10-year guaranteed-addition period, the single premium is about ₹4,64,150; choosing a 16-year period brings the single premium down to roughly ₹2,85,725-₹3,00,800 depending on age.
The tiers
| Guaranteed Addition Period | Approx. Single Premium (₹5L BSA) |
|---|
| 10 years | ₹4,64,150 |
| 12 years | ₹3,61,875 |
| 16 years | ₹2,85,725 - ₹3,00,800 (age-dependent) |
Worth knowing before you decide
- Non-participating: figures are fixed and guaranteed, no bonus potential.
- Surrender value is 75% of single premium in the first 3 years, rising to 90% after, minus any income already received.
- Policy loans are available from just 3 months after issue, but the loan-to-value percentage is lower during the guaranteed-addition period (40-60%) than after it ends (up to 75%).
Official source
⌟ Official product brochure
Learn about this category
Read the full traditional life insurance explainer → · See all traditional savings products →