LIC Jeevan Utsav Plan 871
Buy LIC Jeevan Utsav plan 871 now at the LIC India official website
LIC’s Jeevan Utsav is a Non-Linked, Non-Participating, Individual, Savings, Whole Life Insurance plan. The LIC plan 871 provides financial support to the family in case of unfortunate death of Life Assured and survival benefits in the form of Regular Income Benefit or Flexi Income Benefit as per the option chosen for the surviving policyholder.
LIC’s Jeevan Utsav plan 781 is a non-participating product under which benefits payable on death or survival are guaranteed and fixed irrespective of experience. Hence, the policy is not entitled to discretionary benefits like bonuses, etc., or share in surplus.
LIC Jeevan UTSAV Plan 871 can be purchased For Regular Income and Flexi Income also.
LIC Jeevan Utsav Plan 871 plan benefits
Regular Income Benefit:
10% of the Basic Sum Assured shall be payable at the end of each policy year starting from the period based on the premium paying term.
For Flexi Income Benefit:
The policyholder has the option to defer and accumulate 10% of the Basic Sum Assured at the end of each policy year at the rate of 5.5% p.a. compounding yearly. The policyholder can withdraw a maximum of 75% of the accumulated amount once a year, and the remaining accumulated amount shall be payable on death or surrender.
Death Benefit:
On the death of the policyholder after the date of commencement of risk, a Death Benefit equal to “Sum Assured on Death” along with accrued Guaranteed Additions shall be payable, provided the policy is in force.
LIC Jeevan Utsav plan guaranteed Addition
It is a guaranteed bonus that gets accrued during the policy term. ₹ 40 per thousand Basic Sum Assured at the end of each policy year till PPT, Guaranteed Additions shall not be added after the Premium Paying term.
MODE OF PREMIUM :
Yearly, Half Yearly, Quarterly, Monthly
Policy SURRENDER
The policy can be surrendered at any time during the policy term provided at least two full years of premium have been paid Surrender value equal to the higher of Guaranteed Surrender Value or Special Surrender Value shall be payable.
Policy LOAN
At least two full years of premium payment to apply for the loan facility, The Loan is a percentage of Surrender Value. The rate of interest for the loan amount shall be determined from time to time by the Corporation.
Why and Who Can Buy LIC Jeevan Utsav Plan 871
For the first time in the History of LIC of India, the company had introduced such a short, short-term policy. This policy will suit everyone and plan according to their needs. This plan can be purchased for a child from 90 days to 65 years. For having a very flexible term, this plan can be given to the children or grandchildren as an every year memorable gift for a lifetime.