LIC Jeevan Utsav Plan 871

LIC Guaranteed Pension Plan 

LIC of India recently unveiled its latest offering, the LIC Jeevan Utsav Plan 871 (LIC Table no. 871), on November 29, 2023. This traditional plan is distinct from market-related schemes and is designed to encompass insurance, savings, and pension benefits. 

The Jeevan Utsav Plan 871 is a Non-Linked, Non-Participating, Individual, Savings, Whole Life Insurance plan. It operates as a Limited Premium plan with Guaranteed Additions throughout the Premium Paying Term. 

One of the key features of LIC Jeevan Utsav 871 is its provision of financial protection for the policyholder’s family in the event of the policyholder’s demise before maturity. A notable advantage of this plan is the option for limited premium payments, with the premium paying term ranging from 5 to 16 years for whole life policy terms. The unique identification for ‘Jeevan Utsav Plan 871’ is 512N363V01. 

At the beginning of the policy, the proposer can choose between two options, each offering varying benefits: 

Option I: Regular Income Benefit 

Option II: Flexi Income Benefit 

The policyholder has the flexibility to change their chosen option at any time up to six months before the start of the policy year in which the first Regular Income Benefit or Flexi Income Benefit becomes due. 

**Key Features of Our Policy** 

• Enjoy guaranteed income for a lifetime, starting from age 18 and continuing until 100 years. 

• Choose between regular income benefits or flexible income benefits based on your needs. 
• All benefits are guaranteed at the policy’s inception. 
• Receive guaranteed additions at the rate of Rs. 40 per thousand sum assured throughout the premium paying term. 
• Option to defer and accumulate income at an attractive annual investment rate of 5.5% with compounding annually. 
• Flexibility to change the type of income benefit six months before the payment of benefits. 

• Choose a premium payment term ranging from 5 to 16 years. 
• Policy available for individuals from 90 days old to 65 years of age. 

**Rider Options Available** 

• LIC’s Accident Benefit Rider (UIN: 512B203V03) 

• LIC’s Accidental Death and Disability Benefit Rider (UIN: 512B209V02) 
• LIC’s New Term Assurance Rider (UIN: 512B210V01) 
• LIC’s New Critical Illness Benefit Rider (UIN: 512A212V01) 
• LIC’s Premium Waiver Benefit Rider (UIN: 512B204V03) 

LIC Jeevan Utsav Plan Parameters 

You can purchase LIC Plan 871 offline through licensed agents, corporate agents, brokers, and insurance marketing firms. You can also buy it online directly through the LIC website at www.licindia.in.