Jeevan Utsav Plan 771
LIC Jeevan Utsav Plan 771- this plan is it has the limited premium payment option. Premium paying term is 5 years to 16 years for whole life
Planning for the future is not just about saving money—it’s about ensuring financial security for your family, regular income for yourself, and peace of mind for life.
The Life Insurance Corporation of India (LIC), trusted by millions of Indians for decades, launched LIC Jeevan Utsav (Plan 771) to meet exactly these needs.
👉 This plan is non-linked, non-participating, whole-life insurance that offers guaranteed lifelong income, flexibility in payouts, and protection up to age 100.
In this blog, we will cover:
- ✅ What is LIC Jeevan Utsav Plan 771?
- ✅ Features, Benefits & Eligibility
- ✅ Income options (Guaranteed Income + Flexibility)
- ✅ Death & Maturity Benefits explained
- ✅ Premium & Payout Examples (Tabular data)
- ✅ Investor Scenarios & Case Studies
- ✅ Analyst Opinions & Expert Insights
- ✅ Pros & Cons (Strengths vs Limitations)
- ✅ FAQs (Google-friendly)
By the end of this article, you’ll know whether LIC Jeevan Utsav Plan 771 is the right choice for your financial planning.
What is LIC Jeevan Utsav Plan 771?
LIC Jeevan Utsav (Plan No. 771, UIN: 512N363V01) is a whole life insurance plan that offers:
- Life cover till 100 years
- Guaranteed lifelong income (post premium term)
- Choice of payout options (Regular Income or Flexi Income)
👉 In simple words: You pay premiums for a limited time, then enjoy guaranteed income for the rest of your life, along with insurance protection.
Key Features of LIC Jeevan Utsav Plan 771
| Feature | Details |
|---|---|
| Plan Name | LIC Jeevan Utsav |
| Plan Number | 771 |
| Type | Non-linked, Non-participating, Whole Life Plan |
| Entry Age | 90 days – 65 years |
| Maximum Maturity Age | 100 years |
| Premium Payment Term (PPT) | 5 to 16 years |
| Policy Term | Whole life (till 100 years) |
| Guaranteed Income Start | After PPT ends |
| Guaranteed Income | Fixed % of Sum Assured annually |
| Flexi Income Option | Can accumulate instead of withdrawing |
| Death Benefit | Sum Assured on Death |
| Loan Facility | Available |
| Riders Available | Accidental Death, Disability, Term Rider, Critical Illness |
Benefits of LIC Jeevan Utsav
1. Guaranteed Income for Life
- After completing premium payment, policyholder gets guaranteed income every year till age 100.
- Guaranteed Income Rate depends on PPT and Sum Assured.
2. Two Income Options
- Regular Income: Fixed guaranteed income annually.
- Flexi Income: Option to accumulate income and withdraw later (with interest).
3. Life Cover till 100 Years
- In case of death, nominee receives Death Sum Assured.
4. Maturity Benefit at 100
- If policyholder survives till 100, they receive Sum Assured on Maturity.
5. Liquidity through Loans
- Policy loans available for emergencies.
6. Tax Benefits
- Premiums under 80C.
- Payouts under 10(10D) (subject to latest tax rules).
Example – Premium & Benefit Illustration
Case Study – Mr. Rajesh (Age 35, SA ₹20 lakh, PPT 12 years)
- Premium Payment Term: 12 years
- Annual Premium: ~₹1,50,000 (approx.)
Payout Benefits
| Age | Event | Benefit |
|---|---|---|
| 35–46 | Premium Payment | ₹1,50,000 annually |
| 47 onwards | Guaranteed Income | ₹1,60,000 annually till age 100 |
| 100 | Maturity | ₹20 lakh Sum Assured |
👉 Total Benefits = ₹85+ lakh over lifetime (against ₹18 lakh premium paid).
Investor Scenarios
Scenario 1 – Retirement Planning
A 40-year-old professional invests for 12 years, starts receiving guaranteed income from age 52 till 100 – acting as a tax-free pension.
Scenario 2 – Child Future Planning
Parents invest for their 5-year-old child. By the time the child turns 20, income starts and continues for life.
Scenario 3 – Legacy Creation
A businessman invests in Jeevan Utsav to secure family with life cover and create wealth for heirs at maturity.
Analyst Opinions
- Insurance Advisors: “Jeevan Utsav is ideal for those who want guaranteed lifelong income without market risk.”
- Financial Experts: “With its flexi-income option, it gives freedom to accumulate and withdraw when needed, which adds flexibility.”
- Market Analysts: “Though returns are moderate (~5.5–6.5% IRR), they are risk-free, tax-free, and lifelong, making it a powerful conservative investment.”
Comparison with Other LIC Plans
| Plan | Type | Income | Coverage | Maturity | Best For |
|---|---|---|---|---|---|
| Jeevan Utsav 771 | Whole Life | Guaranteed till 100 | Lifetime | SA on Maturity | Lifetime income seekers |
| Jeevan Umang 745 | Whole Life | 8% SA annually | Lifetime | SA + Bonus at 100 | Pension-style income |
| Bima Ratna 864 | Money-back | Periodic | Limited term | SA + GA | Milestone goals |
| Dhan Rekha 863 | Money-back | Fixed intervals | Limited term | SA + Loyalty Additions | Family milestones |
Real-Life Investor Examples
Example 1 – Young Investor (Age 30, SA ₹15 lakh, PPT 10 years)
- Annual Premium: ~₹1,00,000
- Income: ₹1.2 lakh annually (from age 41 to 100)
- Maturity: ₹15 lakh SA at 100
- Total Returns: ₹1 crore+ over lifetime
Example 2 – Mid-Age Investor (Age 50, SA ₹10 lakh, PPT 7 years)
- Annual Premium: ~₹1,25,000
- Income: ₹90,000 annually (from age 58 to 100)
- Maturity: ₹10 lakh SA at 100
- Total Returns: ₹50+ lakh
Strengths & Limitations
Strengths ✅
- Lifetime guaranteed income.
- Two payout options – Regular or Flexi Income.
- Whole life protection up to 100 years.
- Tax-free payouts.
- Good retirement tool.
Limitations ❌
- Moderate returns compared to mutual funds.
- Long-term commitment required.
- Premiums can be high for large cover.
FAQs on LIC Jeevan Utsav 771
Q1. What is the minimum premium term for Jeevan Utsav?
👉 5 years.
Q2. When does guaranteed income start?
👉 After completion of PPT.
Q3. What is Flexi Income option?
👉 You can accumulate guaranteed income with LIC and withdraw later with interest.
Q4. Is this better than Jeevan Umang?
👉 Jeevan Utsav offers flexibility in income payouts, whereas Jeevan Umang offers fixed 8% income.
Q5. Can NRIs buy Jeevan Utsav?
👉 Yes, subject to certain conditions.
Final Thoughts
The LIC Jeevan Utsav Plan 771 is one of LIC’s most powerful offerings for 2025. It ensures:
- Lifetime income after premium payment
- Life cover till 100 years
- Flexibility in withdrawals
- Tax-free guaranteed returns
If you are looking for a safe, lifelong pension-like plan with family protection, then Jeevan Utsav 771 is an excellent choice.
👉 It may not deliver stock market-level returns, but it offers peace of mind, stability, and guaranteed lifetime income, which is priceless.
