LIC to Offer Jeevan Utsav Single Premium Plan: Know Eligibility, Features & Benefits

From January 12, 2026, LIC will introduce a new insurance product called the Jeevan Utsav Single Premium Plan. On January 6, the plan was made public. The Jeevan Utsav Single Premium Plan, which includes life insurance and is intended to provide people with a lifetime income. It is a single premium payment plan.

Know Eligibility, Features & Benefits

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1) Individuals aged between 30 days and 65 are eligible.

2) At least Rs. 5 lakh is guaranteed; additional coverage is contingent upon underwriting guidelines.

3) Rs.  40 is guaranteed to be added for every Rs. 1,000 of the base sum assured at the conclusion of each policy year during the guaranteed addition period.

4) A policyholder can select from a range of options for survival benefits, such as: Regular Income Benefit which is 10% of the Basic Sum Assured, paid at the conclusion of each policy year, beginning between 7 and 17 years, as selected by the policyholder. The Flexi Income Benefit option allows the policyholder to accumulate and withdraw 10% of the Basic Sum Assured that is due, subject to the policy’s terms and conditions. Interest on these Deferred Flexi Income payments will accrue at 5.5% annually, compounded annually.

LIC of India introduces new plan “LIC’s JEEVAN UTSAV SINGLE PREMIUM (Plan No. 883)”.#LIC #JeevanUtsav #newlaunch #newplan pic.twitter.com/0r05Xh8WbW — LIC India Forever (@LICIndiaForever) January 7, 2026

6) Death Benefit: The higher of the Basic Sum Assured or 1.25 times the tabular single premium, plus any accrued guaranteed additions.

7) Benefit of Maturity: The higher of 1.25 times the tabular single premium and the Basic Sum Assured, plus guaranteed additions.

8) Loan facility accessible throughout the duration of the policy.

9) Term insurance rider and accidental death and disability benefit rider, as well as high sum assured discounts.

According to LIC, the product provides life insurance as well as savings and covers the policyholder for the duration of their life.