LIC Jeevan Utkarsh

LIC Jeevan Utkarsh Plan No. 846 is the close-ended single premium non-linked with profit savings and investment plan.

Jeevan Utkarsh will be available for 270 days from the date of launch. The plan was launched on 6th September 2017. Last date: 31st March 2018

LIC Jeevan Utkarsh Features:

  • Closed-ended Single Premium Endowment plan
  • High-Risk Cover (10 times of Tabular Single Premium)
  • Accident and Disability riders (Optional)
  • Unique settlement option
  • Loan on the policy after 3 months
  • Premium paid is eligible for rebate under 80(C)
  • Maturity amount will be tax-free under 10(10D)

Maturity Benefits:

On survival of policyholder i.e. completion of the 12-year term, maturity will be Sum Assured + Loyalty Addition.

Death benefits

On death during the First 5 Years of the policy:

  • If the policyholder dies before risk commencement then the single premium amount will be refunded to the nominee without any interest or an additional premium.
  • If Death occurs after risk commitment, then the death claim amount will be 10 times of single premium paid (excluding Rider premium and GST).

On death after 5 years of the policy but before maturity:

  • The death Claim amount will be 10 times of single premium paid (excluding Rider premium and GST) + Loyalty Addition.

Jeevan Utkarsh Eligibility conditions

  • Minimum age of Entry: 6 years (Completed)
  • Maximum age of entry: 47 Years (Nearest Birthday)
  • Premium type: Single Premium
  • Minimum Sum Assured: 75,000
  • Maximum Sum Assured: No Max. limit
  • Policy Term: 12 Years

Note: Risk cover will begin immediately if the policyholder has completed the age of 8 years, but if you want to buy it for your child aged less than 8 years then risk cover will begin on one day before completing age 8.

Also Read  Jeevan Nischay

Jeevan Utkarsh Special Surrender Value:

  • 70% of Single Premium in 1st Policy Year
  • 90% of Single Premium from 2nd Policy Year onwards
  • If the policy is surrendered after completion of five policy years, Loyalty Addition, if any, shall be payable.


If Mr. Pankaj Aged 25 years Buys Jeevan Utkarsh For Sum Assured Rs.5 lakh then he will pay to pay one-time premium Rs. 2,62,450 (without GST)

Scenario 1: Pankaj survives till the end of the policy Year 2029 Mr. Pankaj will get 5 lakh Sum Assured Plus Loyalty Additions: Total Approx 6 lakh to 7 lakh including LA.

Scenario 2: If Mr. Pankaj Dies anytime before the policy maturity date then his nominee will get Rs.26,24500/- And nominee will also get the loyalty addition if the policy has completed 5 years.

  1. The plan was launched on 6th September 2017. Last date : 31st March 2017? Doesn’t make sense

    Paisa Portal