PolicyBros.in
Whole Life PlansPlan 883NRI Eligible

LIC Jeevan Utsav Single Premium

Single premium whole life plan with guaranteed income

What is LIC Jeevan Utsav Single Premium?

LIC Jeevan Utsav Single Premium (Plan 883) is a whole life plans plan from Life Insurance Corporation of India. In simple terms: single premium whole life plan with guaranteed income. You also get survival benefits: guaranteed income after single premium payment.

Key Highlights

Pay once, get guaranteed income for life
Whole life coverage up to age 99
No recurring premiums
Guaranteed additions from day one

Benefits Explained Simply

If Something Happens to You (Death Benefit)

Sum Assured + guaranteed additions

When the Plan Matures (Maturity Benefit)

Sum Assured + guaranteed additions at age 99

Money You Get During the Plan (Survival Benefit)

Guaranteed income after single premium payment

Eligibility & Details

Minimum Entry Age0 years (last birthday)
Maximum Entry Age60 years
Minimum Sum Assured₹1,00,000
Policy TermWhole life (up to 99)
Premium Paying TermSingle premium
Bonus Typeguaranteed
Risk Levellow
NRI EligibleYes

Tax Benefits

  • Section 80C deduction (up to 1.5L)
  • Maturity tax-free under 10(10D)

Premium Rates (Indicative)

Age8 years12 years
10 yrs₹4,64,150₹3,61,875
30 yrs₹4,64,150₹3,61,875
50 yrs₹4,64,150₹3,61,875

VERIFIED from official LIC Sales Brochure. Single premium whole life plan. GA: ₹40 per ₹1,000 BSA per year during GA period. Income benefit: 10% BSA per year. Two options: Regular Income or Flexi Income (accumulated at 5.5% p.a.).

Source: LIC Official Sales Brochure | Data last verified: 21 March 2026

Example: What You Could Get

If a 30-year-old buys this plan with ₹10 lakh sum assured, 12-year term:

Annual Premium

₹7,23,750

Total Paid (12 yrs)

₹86,85,000

Est. Bonuses

₹5,40,000

Est. Maturity

₹15,40,000

That's approximately 0.2x of what you paid in premiums.

Who is This Plan Best For?

lump sum investmentguaranteed incomewhole life coverage

Frequently Asked Questions

What is LIC Jeevan Utsav Single Premium (Plan 883)?

LIC Jeevan Utsav Single Premium is a whole life plans plan from Life Insurance Corporation of India. Single premium whole life plan with guaranteed income.

What is the eligibility age for LIC Jeevan Utsav Single Premium?

Entry age is between 0 and 60 years. Policy term: Whole life (up to 99). Premium paying term: Single premium.

What is the minimum sum assured for LIC Jeevan Utsav Single Premium?

Minimum sum assured is ₹1,00,000. There is no upper limit on sum assured.

What are the tax benefits of LIC Jeevan Utsav Single Premium?

Section 80C deduction (up to 1.5L). Maturity tax-free under 10(10D).

Is LIC Jeevan Utsav Single Premium available for NRIs?

Yes. LIC Jeevan Utsav Single Premium is available to Non-Resident Indians. NRIs can buy this plan during a visit to India or through power of attorney.

What happens if I stop paying premiums on LIC Jeevan Utsav Single Premium?

If you stop paying premiums before 3 years, the policy lapses and you lose all benefits. After 3 years of premium payments, the policy acquires a paid-up value and you receive a reduced sum assured. You can also revive a lapsed policy within 5 years by paying outstanding premiums plus interest.

The information above is for educational purposes only. Actual premiums, benefits, and terms are as per LIC of India. For official and complete details, visit licindia.in.

Interested in Jeevan Utsav Single Premium?

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