LIC Jeevan Utsav Single Premium Plan 883 is an individual, non-linked, non-participating whole life insurance plan that combines life protection with guaranteed income benefits. Under this plan, the policyholder pays the premium only once and becomes eligible for lifelong coverage along with guaranteed additions and survival income options.
LIC's Jeevan Utsav (Plan 883) Calculator
Single Premium | Whole Life | Guaranteed Income (10%)
Whole Life Plans Calculator
The plan is suitable for individuals who prefer a one-time investment instead of recurring premiums and want long-term financial stability without future payment obligations. It follows the Jeevan Utsav framework but is structured specifically as a single premium product, making it distinct from regular premium versions.
Launch Date, UIN, and Basic Policy Details
LIC officially introduced Jeevan Utsav Single Premium Plan 883 on 6 January 2026, announced by LIC’s CEO & Managing Director R. Doraiswamy. The plan became available for public purchase across India from 12 January 2026.
Key identification details are as follows:
- Plan Number: 883
- Unique Identification Number (UIN): 512N392V01
Eligibility Criteria
- Minimum Entry Age: 30 days
- Maximum Entry Age: 65 years
- Minimum Basic Sum Assured: ₹5,00,000
- Maximum Sum Assured: No fixed upper limit (subject to underwriting norms)
For precise policy wording, conditions, and official illustrations, users should refer to LIC’s official website and press releases.
LIC Jeevan Utsav Single Premium Plan 883 – Key Specifications
| Feature | Details |
|---|---|
| Plan Name | LIC Jeevan Utsav Single Premium (Plan 883) |
| UIN | 512N392V01 |
| Launch Date | 6 January 2026 (Available from 12 January 2026) |
| Entry Age | 30 days to 65 years |
| Minimum Sum Assured | ₹5,00,000 |
| Guaranteed Additions | ₹40 per ₹1,000 Basic Sum Assured per year |
| Premium Mode | One-time (Single Premium only) |
Major Features of LIC Jeevan Utsav Single Premium Plan 883
This plan offers a structured combination of guaranteed additions, lifelong income, and whole life risk cover. The main features include:
- Single Premium Structure: Premium is paid only once at policy inception, eliminating future payment responsibilities.
- Whole Life Coverage: Life insurance protection continues for the lifetime of the life assured, subject to policy conditions.
- Guaranteed Additions: Fixed guaranteed additions of ₹40 per ₹1,000 of Basic Sum Assured are added annually during the defined addition period.
- Two Survival Benefit Options: Policyholders can choose between Regular Income and Flexi Income after the guaranteed addition phase.
- Linked Death & Maturity Benefits: Benefits are calculated based on the Basic Sum Assured and 1.25 times the tabular single premium.
- Loan Facility: Loans are available after the policy acquires surrender value, as per LIC rules.
- High Sum Assured Rebates & Riders: Rebates apply for higher sum assured slabs, and optional riders such as Accidental Death & Disability Benefit and Term Assurance Rider may be added, subject to LIC guidelines.
How LIC Jeevan Utsav Single Premium Plan 883 Works
The functioning of this plan can be understood in four broad stages:
- Single Premium Payment At the time of purchase, the policyholder selects the Basic Sum Assured and survival benefit option and pays a one-time premium based on age and policy parameters.
- Guaranteed Addition Phase During this phase, the policy earns guaranteed additions at a fixed rate of ₹40 per ₹1,000 of Basic Sum Assured each policy year.
- Survival Income Phase After the guaranteed addition period, the policy starts paying survival benefits under the chosen option — Regular Income or Flexi Income.
- Death or Maturity Benefit On death or maturity (as defined under the policy), the payout is the higher of the Basic Sum Assured or 1.25 times the tabular single premium, along with accumulated guaranteed additions.
The exact duration of each phase and payout structure is detailed in the official LIC brochure and should be reviewed carefully before purchase.
What Is a LIC Jeevan Utsav Single Premium 883 Calculator?
A LIC Jeevan Utsav Single Premium 883 Calculator is an online estimation tool designed to help users calculate approximate values such as the single premium amount, guaranteed additions, expected survival income, and death or maturity benefits.
Because the plan involves multiple components—such as guaranteed additions, income options, and premium-linked benefits—manual calculations can be complex. A calculator simplifies this by providing quick, illustrative projections based on user inputs.
LIC may provide indicative tools on its official platform, while independent financial websites also offer calculators to help users understand and compare benefits more easily.
Inputs Required in LIC Jeevan Utsav 883 Calculator
Most calculators for this plan require the following details (inputs may vary slightly across platforms):
- Age: Age of the life assured at entry (within 30 days to 65 years).
- Basic Sum Assured: Minimum ₹5,00,000; higher amounts subject to underwriting.
- Gender: As per insurer underwriting norms.
- Survival Benefit Option: Regular Income or Flexi Income.
- Income Display Mode: Annual or converted monthly values, if supported.
- Rider Selection (Optional): Optional riders if the calculator supports rider estimates.
Advanced lic calculators may include optional assumptions like inflation or holding period for analytical purposes, though these are not mandatory.
Outputs Generated by LIC Jeevan Utsav 883 Calculator
After entering the details, the calculator typically displays:
- Estimated single premium (excluding GST)
- Total guaranteed additions over the addition period
- Approximate annual Regular Income or Flexi Income
- Estimated maturity benefit (if applicable)
- Estimated death benefit payable to nominee
Some tools also show comparative summaries for different ages or sum assured levels to aid decision-making.
Calculation Logic Used in LIC Jeevan Utsav 883 Calculator
The calculator follows the core rules defined in LIC’s official policy documents. In simplified terms:
Single Premium Calculation
Single premium is derived using tabular premium rates based on age and Basic Sum Assured.
Guaranteed Additions
Guaranteed additions per year = Basic Sum Assured × 40 ÷ 1000
Total guaranteed additions = Annual addition × Number of applicable years
Death Benefit
Sum Assured on Death = Higher of:
- Basic Sum Assured, or
- 1.25 × Tabular Single Premium
Death benefit = Sum Assured on Death + Accrued Guaranteed Additions
Maturity Benefit (If Applicable)
Maturity benefit = Higher of Basic Sum Assured or 1.25 × Tabular Single Premium + Guaranteed Additions
Survival Income
- Regular Income: Fixed annual income based on Basic Sum Assured.
- Flexi Income: Income accumulated and withdrawn later with applicable interest, as per policy rules.
Exact percentages and interest rates must be verified from the official LIC brochure.
How to Use LIC Jeevan Utsav Single Premium 883 Calculator
- Open the calculator page on a reliable website or LIC’s official portal.
- Enter your completed age at entry.
- Input the desired Basic Sum Assured (minimum ₹5,00,000).
- Select Regular Income or Flexi Income option.
- Choose riders if applicable.
- Click on “Calculate”.
- Review estimated premium, income, and benefit values.
Calculator results are illustrative and may vary from the final premium quoted by LIC due to GST, underwriting adjustments, or rider costs.
Key Benefits of LIC Jeevan Utsav Single Premium Plan 883
- Lifelong income combined with whole life insurance protection
- One-time premium payment convenience
- Guaranteed additions enhance long-term value
- Choice between income options for flexibility
- Optional riders and loan facility for added security and liquidity
- Potential tax benefits as per prevailing Income Tax laws
Tax benefits are subject to applicable laws and conditions and may change over time.
Who Should Consider This Plan?
LIC Jeevan Utsav Single Premium Plan 883 may be suitable for:
- Retirees seeking a guaranteed lifelong income from a lump-sum investment
- Individuals with surplus funds preferring safety over market-linked risk
- Parents or grandparents planning long-term financial security for family
This plan is designed for conservative investors who value stability and predictable income rather than high market-linked returns.
Official Sources for Policy Details
To ensure complete accuracy, users should refer to official LIC resources:
- LIC Jeevan Utsav Single Premium Hindi page
- LIC Jeevan Utsav base plan page
- LIC press release dated 06.01.2026 announcing Plan 883
These sources provide official brochures, policy documents, and illustrative charts
