LIC Jeevan Utsav Plan 871 Calculator

In India, securing one's future and ensuring the well-being of our loved ones is a deeply ingrained value. We often look for reliable options that promise stability, especially as we plan for retirement, children's education, or simply wish to leave a legacy. For generations, Life Insurance Corporation of India (LIC) has been a cornerstone of trust in this pursuit.

Enter LIC Jeevan Utsav (Plan 871) – a relatively new, innovative offering that has caught the attention of many. This plan isn't just another insurance policy; it's designed to provide a guaranteed income for your entire life, making it a powerful tool for long-term financial security.

What is LIC Jeevan Utsav Plan 871?

Before delving into the utility of its calculator, it's crucial to understand the fundamental features of the LIC Jeevan Utsav Plan 871. This plan is designed to provide whole life coverage, ensuring financial security for the entire lifespan of the policyholder. Its key distinguishing feature is the "Flexi Income Benefit," which offers guaranteed yearly income after the premium paying term (PPT) is over, continuing for life. Policyholders have the flexibility to choose when this income stream begins, making it adaptable to various retirement or income needs.

The plan offers a Limited Premium Payment Term (PPT), meaning premiums are paid only for a specified period (e.g., 5, 8, 10, 11, 12, 13, 14, 15 or 16 years), while the coverage and income benefits extend throughout life. In the unfortunate event of the policyholder's demise, a substantial death benefit is paid to the nominee, providing crucial financial support. Additional features include loan facility, surrender value, and the option to add various riders for enhanced coverage, such as accident benefit, critical illness benefit, or term assurance rider. Essentially, Jeevan Utsav is engineered as a long-term savings vehicle that doubles as a reliable income source in later years, coupled with lifelong protection.