Plan No.771
LIC’s Jeevan Utsav (Plan No. 771) is a unique, single premium, non-linked, participating savings plan launched by the Life Insurance Corporation of India. It provides financial
security along with guaranteed returns and bonuses. Below is the detailed description of the plan:
- It is an individual cum Savings, Whole Life Insurance plan ideally suitable for all the age groups starting from new born babies to senior citizens
- This plan offers the Guaranteed Addition @ Rs. 40 per 1000 Sum Assured during PPT.
- This plan also offers Survival Benefit in the form of either Regular Income Benefit or Flexi Income Benefit.
- Under Regular Income Benefit income will be received @ 10% of Sum Assured and under Flexi Option it can be deferred and accumulate @ 5.5% compounding int. Under Regular Income Benefit income will be received @ 10% of Sum Assured and under Flexi Option it can be deferred and
- Option to withdraw 75% of accumulated amount once in a year under Flexi Income Benefit option.
- In case in any financial emergency, this plan also takes care of liquidity needs through Surrender and Loan facility. 6 In case in any financial emergency, this plan also takes care of liquidity needs
- Limited Premium Paying Term plan with PPT from 5 years to 16 years with premium modes as Yearly, Half Yearly, Quarterly and Monthly.
- Sum Assured on Death” is defined as Basic Sum Assured OR 7 times of Annual Premium whichever is higher with Accrued Guaranteed Additions.
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