LIC Jeevan Utsav Single Premium Calculator

Read on to know more about the LIC Jeevan Utsav Single Premium Calculator.

What is LIC Jeevan Utsav Single Premium Calculator?

LIC Jeevan Utsav Plan Calculator is a smart online tool available on the website of LIC of India, which assists you in understanding the plan and calculating the financial effect of your LIC Jeevan Utsav Single Premium Plan 883. The tool assists you in planning your future finances by calculating the premium that needs to be paid and the maturity value that will be received after the end of the policy duration.

Using the LIC Jeevan Utsav Single Premium Plan calculator, you can estimate:

• Premium for your policy

• Maturity benefit

• Return projections in real time

• With the LIC Jeevan Utsav Single Premium Calculator, it's easy to see how your age, policy term, and sum assured affect your payouts.

Note: LIC Jeevan Utsav Single Premium plan 883 is a single-premium version of LIC Jeevan Utsav plan 771. In this whole-life insurance plan, the first premium is the only premium required to purchase the policy.

Inputs Required in a LIC Jeevan Utsav 883 Single Premium Calculator

This LIC Jeevan Utsav Single Premium Calculator will ask for some of the following inputs: 

• Age 

• Gender 

• Basic sum assured 

• Survival/ Death Benefit Option

• Premium Payment Type

• Policy Term

• Guaranteed Addition Period

Outputs You Get From LIC Jeevan Utsav 883 Calculator 

After entering the required details and clicking ‘calculate’, the tool provides the following key outputs: 

• Estimated Single Premium: An approximate one-time premium payable based on your age and selected Basic Sum Assured, excluding applicable taxes.

• Total Guaranteed Additions: The estimated total additions accrued over the guaranteed addition period, calculated at ₹40 per ₹1,000 of the Basic Sum Assured.

• Regular or Flexi Income Amount: The approximate annual income payable after the guaranteed addition period, depending on the option selected.

• Estimated Maturity Benefit (if applicable): The higher of the Basic Sum Assured or 1.25 times the tabular single premium, along with accumulated guaranteed additions, subject to plan terms.

• Estimated Death Benefit: The higher of the Basic Sum Assured or 1.25 times the tabular single premium, plus any accrued guaranteed additions. 

• Surrender Valur Payable: Guaranteed and Special surrender values are shown separately as part of guaranteed and non-guaranteed benefits, respectively. The final surrender value payable is shown separately.

How to Use LIC Jeevan Utsav Single Premium Calculator?

The procedures to use the LIC Jeevan Utsav Policy Calculator from the official website of LIC are as follows:

Step 1: Visit the official website of LIC by scrolling down to the section ‘How Much You Need.’

Step 2: Click on ‘Calculate Premium’.

Step 3: Fill the basic information like your name, age, gender, and contact number by clicking on the “Next” button. Then click the Quick Quote button.

Step 4: From the list of options, pick the LIC Jeevan Utsav Single Premium plan and click on Coverage.

Step 5: Enter the needed information, like the Sum Assured, Policy Term, Guaranteed Additions Period, and Death Benefit Option, and then click the Quote button.

The LIC Jeevan Utsav Single Premium Plan Calculator will give you different results based on what you put in. Alternatively, you will be able to get an elaborated graph showing the premium amount, sum assured value, and bonus amount, among other details.

How Does the LIC Jeevan Utsav Single Premium Calculator Work?

The LIC Jeevan Utsav Single Premium Calculator provided by the LIC of India is a useful tool to estimate premiums or maturity benefits. It is also commonly searched as the LIC Jeevan Utsav plan calculator or LIC Jeevan Utsav plan 871 premium and maturity calculator (As the plan numbers/ versions may vary).

Provide Basic Information: The basic information includes name, date of birth, contact information, and so on.

Select Sum Assured: Select the amount of sum assured for the policy.

Select Policy Term: Choose the policy term which is equal to 100 minus age at entry. 

Guaranteed Additions Period: Pick a guaranteed additions period is between 7 and 17 years.

Death Benefit Option: Choose between the Regular Income Benefit and the Flexi-Income Benefit for the Death Benefit.

The LIC Jeevan Utsav Single Premium Calculator will factor in these and other inputs to compute the premium amount, death benefit, survival benefit, and guaranteed additions.

How to Use LIC Jeevan Utsav Single Premium Plan Calculator?

The procedures to use the LIC Jeevan Utsav Policy Calculator from the official website of LIC are as follows:

Step 1: Visit the official website of LIC by scrolling down to the section ‘How Much You Need.’

Step 2: Click on ‘Calculate Premium’.

Step 3: Fill the basic information like your name, age, gender, and contact number by clicking on the “Next” button. Then click the Quick Quote button.

Step 4: From the list of options, pick the LIC Jeevan Utsav Single Premium plan and click on Coverage.

Step 5: Enter the needed information, like the Sum Assured, Policy Term, Guaranteed Additions Period, and Death Benefit Option, and then click the Quote button.

The LIC Jeevan Utsav Single Premium Calculator will give you different results based on what you put in. Alternatively, you will be able to get an elaborated graph showing the premium amount, sum assured value, bonus amount, among other details.

Sample Illustration Using LIC Jeevan Utsav Single Premium Calculator

The sample illustration shows single premiums for both Survival Benefit Options and Standard lives for a Basic Sum Assured of Rs 5,00,000 for policies that will be sold through Offline mode are as follows:

Benefits of LIC Jeevan Utsav Single Premium Calculator

Premium Estimation: This LIC single premium plan calculator helps you estimate your premium based on your age, policy term, and chosen sum assured.  

Sum Assured Calculation: It lets you calculate how much life insurance you can get based on the information you enter.

Check Guaranteed Additions: The LIC 883 plan calculator displays the guaranteed additions that apply to your policy. This will help you understand the guaranteed benefits and long-term value that the plan will provide.

Customization: Since the plan requires a single premium, there are other aspects in which the user wish to customise to get the justified amount. The plan has Guaranteed additions period, regular or flexi income benefit, that can have significant impact on the results. The calculator lets the user modify all these values as per their choice and then provides final results. 

Easy to Use: Using the LIC Jeevan Utsav Single Premium Calculator is quite easy because it only involves a few simple steps and little basic info to get the results, plus you can use it whenever you want.

Wrapping it Up

LIC Jeevan Utsav Single Premium Calculator is a tool that allows you to decide freely by calculating the premium payments and the maturity amount. By using the calculator properly, you can make a confident move towards securing your financial future and getting assured peace of mind with LIC Jeevan Utsav Single Premium Plan 883.

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