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, UIN 512N392V01) is a whole life plan from Life Insurance Corporation of India. It is a non-participating plan with Guaranteed Additions: the additions accrue at rates fixed when you buy, so what you receive does not depend on LIC's yearly bonus declarations.
You pay the entire premium once at purchase, with nothing more to pay after that. If the policyholder dies during the term, the nominee receives: Sum Assured on Death (higher of Basic Sum Assured or 1.25x the tabular single premium) plus accrued guaranteed additions. On surviving the full term, the policyholder gets: Sum Assured on Maturity plus accrued guaranteed additions at age 100. Along the way: Regular or Flexi income of 10% of Basic Sum Assured a year after the guaranteed addition period.
It suits people looking for lump sum investment, guaranteed income and whole life coverage. NRIs can buy this plan too.
Key Highlights
Benefits Explained Simply
Eligibility & Details
Tax Benefits
- Section 80C deduction (up to 1.5L)
- Maturity tax-free under 10(10D)
Premium Rates (Indicative)
VERIFIED from official LIC Sales Brochure (512N392V01). Single premium whole life plan. Single premium per ₹5 lakh BSA by Guaranteed Addition period (8/12/16 years sampled; the full range is 7-17). GA: ₹40 per ₹1,000 BSA per year during the GA period. Income benefit 10% BSA per year, as Regular Income or Flexi Income (accumulated 5.5% p.a.). High-BSA rebate is an age-band x SA-band grid (per ₹1,000 BSA); online sale 2%; existing policyholder / nominee ₹0.80-1.00 per ₹1,000 by GA period. Entry 30 days to 65, maturity age 100. Previous table had only 8/12 with placeholder age rows and no rebate.
Source: LIC Official Sales Brochure | Data last verified: 4 July 2026
Who is This Plan Best For?
Frequently Asked Questions
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.