Formula
P = (T − R) × S / 1000
T = A / (ä × (1 − λ))
M = G + (Σt=1k at) × S / 1000
P × Σt=0k−1 (1 + r)−t = Σt Ct (1 + r)−t + M (1 + r)−n
where
- P
- single premium
- T
- tabular premium per ₹1,000 of sum assured, for your age, term and premium paying term
- R
- high sum assured rebate, ₹ per ₹1,000, from this plan's table (nil on smaller policies)
- S
- Basic Sum Assured
- A
- present value, per ₹1,000 of sum assured, of everything the policy pays: death cover, survival benefits and maturity
- ä
- 1, since the premium is paid once, at the start
- λ
- expense loading, 5%
- M
- maturity amount
- G
- guaranteed maturity sum, equal to S
- at
- guaranteed addition credited in policy year t, ₹ per ₹1,000 of sum assured, only while premiums are paid
- Ct
- yearly income, 10% of S, from the policy year the income starts to the year before maturity
- r
- annualised return: the rate that makes both sides equal
- n
- policy term, in years
- k
- 1, the single premium
In short (tl;dr)
Jeevan Utsav Single Premium is the one-payment version of Jeevan Utsav: a single premium buys guaranteed additions of ₹40 per ₹1000 for a period you choose between 7 and 17 years, then 10% of the sum assured every year for life.
Worked example: at 30, ₹5,00,000 of cover costs ₹3,61,875 as a single premium, then pays ₹50,000 every year for life from policy year 13, a return of 6.48% a year.
Did you mean Jeevan Utsav? This page is the pay-once version. If you would rather spread the cost over 5 to 16 annual premiums, that is a separate plan with its own number and its own price list. Open the Jeevan Utsav calculator (Plan 771).
What is LIC Jeevan Utsav Single Premium?
Jeevan Utsav Single Premium (Plan 883) does in one payment what Jeevan Utsav (Plan 771) does over 5 to 16 annual premiums. You hand over a single premium, pick a Guaranteed Addition Period of anywhere from 7 to 17 years, and the policy credits ₹40 per ₹1000 of Basic Sum Assured at the end of each of those years.
The period you pick is the main decision, because it sets three things at once. It fixes how many years of guaranteed additions accrue. It fixes when the income starts, which is always the year after the period ends. And it moves the price sharply: LIC's own illustration puts the premium for a ₹5,00,000 policy at ₹4,64,150 on an 8-year period and ₹2,85,725 on a 16-year one, because a longer wait means the income starts later.
From that start year the policy pays 10% of the Basic Sum Assured every year for the rest of your life, either as Regular Income taken each year or as Flexi Income left to accumulate at 5.5% compounded yearly. Cover runs to age 100, and the maturity benefit is the higher of the Basic Sum Assured and 1.25 times the tabular single premium, plus the additions.
Key features
- One premium, with no renewals to remember
- Guaranteed Addition Period of 7 to 17 years, chosen at purchase
- Guaranteed Additions of ₹40 per ₹1000 of Basic Sum Assured for each year of that period
- 10% of the Basic Sum Assured every year for life, starting the year after the period ends
- Flexi Income option accumulates the payments at 5.5% compounded yearly, with one withdrawal a policy year of up to 75% of the balance
- Entry age from 30 days to 65, and cover to age 100
- Rebate on the single premium that rises with the sum assured and falls with entry age
When does the Jeevan Utsav Single Premium income start, and how much is it?
The Guaranteed Addition Period sets three things at once: how many years of additions accrue, what the single premium costs, and the policy year the income starts. Worked at age 30 on ₹5,00,000 of cover, so the rows differ by that choice and nothing else.
| Addition period | Single premium | Additions accrued | Income starts | Income a year | Paid out by 85 |
|---|---|---|---|---|---|
| 7 years | ₹5,01,269 | ₹1,40,000 | Year 8at age 38 | ₹50,000 | ₹24,00,000 |
| 8 years | ₹4,68,757 | ₹1,60,000 | Year 9at age 39 | ₹50,000 | ₹23,50,000 |
| 9 years | ₹4,38,375 | ₹1,80,000 | Year 10at age 40 | ₹50,000 | ₹23,00,000 |
| 10 years | ₹4,09,988 | ₹2,00,000 | Year 11at age 41 | ₹50,000 | ₹22,50,000 |
| 11 years | ₹3,84,740 | ₹2,20,000 | Year 12at age 42 | ₹50,000 | ₹22,00,000 |
| 12 years | ₹3,61,875 | ₹2,40,000 | Year 13at age 43 | ₹50,000 | ₹21,50,000 |
| 13 years | ₹3,40,525 | ₹2,60,000 | Year 14at age 44 | ₹50,000 | ₹21,00,000 |
| 14 years | ₹3,20,595 | ₹2,80,000 | Year 15at age 45 | ₹50,000 | ₹20,50,000 |
| 15 years | ₹3,01,996 | ₹3,00,000 | Year 16at age 46 | ₹50,000 | ₹20,00,000 |
| 16 years | ₹2,84,642 | ₹3,20,000 | Year 17at age 47 | ₹50,000 | ₹19,50,000 |
| 17 years | ₹2,68,457 | ₹3,40,000 | Year 18at age 48 | ₹50,000 | ₹19,00,000 |
The income itself never changes: it is 10% of the Basic Sum Assured every year for life, ₹50,000 on this policy, whichever row you pick. What the choice buys is the starting year, and the last column is what that is worth if the life assured reaches 85. Payments carry on past 85 for as long as the life assured lives; the column stops there only so the rows can be compared on one horizon.
The row that starts paying soonest is also the row with the highest total paid in, not the lowest: 7 years comes to ₹5,01,269 in total against ₹2,68,457 for 17 years, because starting 10 years sooner means that many more years of the same income to fund. A lower annual premium and a lower total cost do not have to point the same way.
Worked as a return on the actual cash flows, premiums out, income and maturity in, the rows sit close together: 6.42% to 6.49% a year. None of them is 10%. That figure is a fixed share of the sum assured, not a return on what you pay, and the real annualised return sits well below it whichever row is chosen.
Regular Income or Flexi Income?
The choice is made when the policy is taken out and it does not change the premium, only what happens to each payment once it falls due.
- Regular Income Benefit pays the 10% to you each year as it falls due. Nothing accumulates, and nothing needs deciding again.
- Flexi Income Benefit lets you leave any instalment with LIC, where it accumulates at 5.5% compounded yearly. You can draw it later, once a policy year, up to 75% of the balance standing at that point.
Flexi suits someone whose need for the money is uneven, or who does not need it yet and would rather it compounded than sat in a savings account. Regular suits someone who wants the payment to arrive without having to think about it. The accumulation rate is contractual, so Flexi is not a market bet.
Jeevan Utsav Single Premium at a glance
- Plan number
- 883
- Category
- Whole Life
- Entry age
- 0 to 65 years
- Policy term
- 35 to 100 years
- Premium paying term
- Single premium
- Sum assured
- ₹5 Lakh and above
- Maximum maturity age
- 100 years
- UIN
- 512N392V01
We checked the plan number and UIN above against LIC's own page for this plan on 2026-09-06. Check it on licindia.in
What are the benefits of LIC Jeevan Utsav Single Premium?
What does LIC Jeevan Utsav Single Premium pay on death?
Sum Assured on Death, defined as the higher of the Basic Sum Assured and 1.25 times the tabular single premium, plus the Guaranteed Additions accrued so far. Where the life assured is under 8 and dies before the risk commences, the single premium is returned without interest, excluding taxes and any rider premium.
What do you get at maturity?
On survival to age 100, the Sum Assured on Maturity, which is the higher of the Basic Sum Assured and 1.25 times the tabular single premium, plus all accrued Guaranteed Additions, and under the Flexi Income option any accumulated income not yet withdrawn.
Who is LIC Jeevan Utsav Single Premium for?
Someone with a lump sum to place who wants a lifelong income from it and can decide at the outset how long to wait before that income starts.
What should you watch out for?
The addition period is locked in at purchase and it is the whole pricing lever, so a period chosen without doing the arithmetic is an expensive mistake. Note too that the 10% is 10% of the sum assured, not a 10% return on the premium you paid: on a ₹5,00,000 policy bought for ₹3,61,875 the income is ₹50,000 a year, which is a very different number from 10% of either figure.
What does LIC Jeevan Utsav Single Premium cost?
Worked out on a 70-year term with premiums paid for 1 year. Change any of these in the calculator above for your own figures.
By sum assured, at age 30
| Sum assured | Premium a year | Total paid in | Projected maturity |
|---|---|---|---|
| ₹5,00,000 | ₹3,61,875 | ₹3,61,875 | ₹7,40,000 |
| ₹10,00,000 | ₹7,14,750 | ₹7,14,750 | ₹14,80,000 |
| ₹25,00,000 | ₹17,71,875 | ₹17,71,875 | ₹37,00,000 |
Premiums are modelled on this plan's own tabular rates. The additions on this plan are contractual rather than declared, so unlike a with-profits plan the figure does not rest on a bonus declaration.
By age, on ₹5,00,000 of cover
Sum assured moves the premium almost in a straight line, so the table above is easy to read across. Age does not, and it is the input people most often want to test before filling anything in.
| Age at entry | Premium a year | Total paid in | Income for life | Projected maturity | Age when it pays |
|---|---|---|---|---|---|
| 25 years | ₹3,62,245 | ₹3,62,245 | ₹31,00,000 | ₹7,40,000 | 100 |
| 30 years | ₹3,61,875 | ₹3,61,875 | ₹28,50,000 | ₹7,40,000 | 100 |
| 40 years | ₹3,61,190 | ₹3,61,190 | ₹23,50,000 | ₹7,40,000 | 100 |
| 50 years | ₹3,61,804 | ₹3,61,804 | ₹18,50,000 | ₹7,40,000 | 100 |
The premium barely moves across the rows. Mortality is a small part of a savings premium and the savings part is the same at any age. What age changes is the income column: the payment is the same every year, so starting younger simply means collecting it for longer.
LIC's own sample premium, from the brochure
From the sourceNot modelled: this is the table LIC prints in its own brochure (Sales brochure, section 5 Sample Illustrative Premium (offline, standard lives)), at ₹5,00,000 of cover, the sum assured LIC chose to illustrate. Everywhere else on this page the premium is worked out for the sum assured you enter; here it is fixed at that figure, because that is what LIC published.
These figures are taken from the document linked below. Check them there.
| Age at entry | 50-year term, 1 to pay | 70-year term, 1 to pay | 90-year term, 1 to pay |
|---|---|---|---|
| 10 | Not printed | Not printed | ₹4,64,150 |
| 30 | Not printed | ₹4,64,150 | Not printed |
| 50 | ₹4,64,150 | Not printed | Not printed |
Priced on ₹5,00,000 of cover, exclusive of taxes, standard lives. Our own model is anchored on the age 30, 70-year term, 1-year premium term cell in this table; the other cells are the real test of the model, and the editorial and methodology policy publishes how far off they run.editorial and methodology policy publishes how far off they run.
Where the money comes from
Taken apart, on the ₹5,00,000 policy in the first table. Every line is contractual on this plan: the additions are written into the policy at a stated rate rather than declared each year, so none of this depends on how LIC's investments do.
- Basic sum assured (guaranteed)
- ₹5,00,000
- Guaranteed additions
- ₹2,40,000
- Paid at maturity
- ₹7,40,000
- Income paid before then, 57 payments of ₹50,000 from year 13
- ₹28,50,000
- Return a year on the premiums
- 6.48%
When does LIC Jeevan Utsav Single Premium pay for itself?
The grey line is what you have paid in by each policy year. The yellow line is what the policy has paid back by then. They cross in year 20, which is the point the policy has returned everything it cost.
That return counts everything the policy pays back, income included, against everything you put in, after the cost of the life cover it carried for 70 years. It is not a market return. On this plan the figures behind it are contractual, so it moves only with the age and term you enter.
Premium chart: LIC Jeevan Utsav Single Premium 883
The single premium for ₹5,00,000 of Basic Sum Assured, by age at entry and Guaranteed Addition Period. Read down for your age and across for the period you would choose. A blank cell is a combination LIC does not sell at that age, because the first income cannot fall due before 18.
| Age at entry | 7 years | 10 years | 12 years | 15 years | 17 years |
|---|---|---|---|---|---|
| 20 | ₹5,01,362 | ₹4,11,335 | ₹3,62,495 | ₹3,01,177 | ₹2,66,661 |
| 30 | ₹5,01,269 | ₹4,09,988 | ₹3,61,875 | ₹3,01,996 | ₹2,68,457 |
| 40 | ₹5,01,226 | ₹4,07,596 | ₹3,61,190 | ₹3,04,282 | ₹2,72,774 |
| 50 | ₹5,02,208 | ₹4,04,413 | ₹3,61,804 | ₹3,10,709 | ₹2,83,120 |
| 60 | ₹5,07,058 | ₹4,01,940 | ₹3,66,254 | ₹3,25,418 | ₹3,04,829 |
The premium falls as the addition period lengthens, because a longer wait means the income starts later and runs for fewer years. It barely moves with age by comparison. Rebates on larger sums assured are applied on top and are not in this table: they rise with the sum assured and fall with entry age.
Who can take LIC Jeevan Utsav Single Premium?
Age to start
- Minimum
- 30 days
- Maximum
- 65 years
These are the widest limits the plan allows. The range narrows once you choose a policy term, and the calculator applies whichever range fits your answers.
How long the cover runs
- Cover runs to age
- 100
The policy term follows from your age at entry, so there is nothing to choose.
Years you pay for
- Premium paying term
- One single premium
Sum assured
- Minimum
- ₹5,00,000
- Maximum
- No limit set by LIC
LIC caps this by what underwriting allows rather than with a printed figure. This calculator accepts up to ₹5 Crore.
The calculator applies every limit above. LIC sets them out under "Eligibility Conditions and Other Restrictions" on page 3 of the Jeevan Utsav Single Premium sales brochure, linked in the form above.
What Jeevan Utsav Single Premium pays if you surrender
The brochure sets its own percentages instead of the sliding grid LIC uses on regular premium plans. The Guaranteed Surrender Value is 75% of the single premium during the first three policy years and 90% after that, in both cases less any income benefits already paid out. LIC pays the higher of that and the Special Surrender Value. Surrendering inside three years therefore hands back a quarter of what you put in, which is a heavy price for a policy bought with one payment.
Taken from the plan's own brochure rather than modelled, which is why there is no table here: LIC states the percentages for this plan outright, and a percentage of a number you already know needs no calculator.
Tax on LIC Jeevan Utsav Single Premium
Two provisions do the work, and both turn on the size of the premium rather than on the plan. The Income-tax Act, 2025 renumbered both from 1 April 2026 without changing the rules, so each is given here under its old number and its new one.
Section 80C, now Section 123, on what you pay in
Premiums count towards the ₹1.5 lakh limit, in the year they are paid, if you are on the old regime. The deduction is restricted where the annual premium is more than 10% of the sum assured.
Section 10(10D), now Schedule II, on what comes back
Maturity proceeds are exempt where the premium in every year stays inside 10% of the sum assured, and, for a policy issued on or after 1 April 2023, where the premiums on all such policies together stay inside ₹5 lakh a year. Death proceeds are exempt either way.
Where this policy sits
The ₹5,00,000 policy priced above costs ₹3,61,875 a year, which is 72.4% of the sum assured. That is above the 10% test, so both provisions are restricted for it. A larger sum assured moves the ratio down.
GST
Nil. Individual life insurance premiums have been exempt since 22 September 2025, so the instalment the calculator shows is the amount that leaves your account.
None of this is tax advice. Which regime you are on, what else you hold and when the policy was issued all change the answer, so confirm your own position with a tax adviser before you rely on it.
How this calculator works
Jeevan Utsav Single Premium is priced here on its own parameters, not a generic formula. We build the plan's full cash-flow schedule, meaning the death benefit in each policy year, every survival payout and the maturity value, then discount it on a basis calibrated to a reference premium for this plan. That reference is checked two ways: against LIC's published tabular rate, and against the return the plan's own benefits imply for the policyholder.
- Reference premium
- ₹723.75 per ₹1,000 at age 30, 70-year term, 1-year premium term
- Discount basis
- 6.68% a year, on LIC (2012-14) Ultimate mortality
- Guaranteed additions
- ₹40 per ₹1,000 for years 1 to 17
- GST
- Nil. Individual life insurance premiums have been exempt from GST since 22 September 2025, so the instalments shown are what you actually pay.
Bonus rates are declared annually and are not guaranteed; only the sum assured and any contractual guaranteed additions are. Read our editorial and methodology policyfor the full basis, and confirm every figure with LIC before you buy.
Check the source:Jeevan Utsav Single Premium on licindia.inLIC valuation and bonus declarationsIRDAI regulations
How LIC Jeevan Utsav Single Premium compares
The plans people weigh this one against, and what separates each from it.
| Plan | Policy term | You pay for | Cover from | What is different |
|---|---|---|---|---|
| Jeevan Utsav Single PremiumNo. 883 · this page | 35 to 100 years | One premium | ₹5 Lakh | Pay once, then 10% of the sum assured every year for life after the addition period. |
| Jeevan UtsavNo. 771 | 20 to 100 years | 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16 years | ₹5 Lakh | Guaranteed additions during the premium term, then 10% of the sum assured a year for life. |
| Jeevan UmangNo. 745 | 30 to 100 years | 15, 20, 25, 30 years | ₹2 Lakh | 8% of the sum assured every year for life once premiums finish, and cover to age 100. |
| Single Premium Endowment PlanNo. 717 | 10 to 25 years | One premium | ₹1 Lakh | Pay once, stay covered, collect the sum assured plus bonuses at the end. |
| Jeevan Akshay-VIINo. 857 | Not applicable | One premium | ₹1 Lakh | Hand over a lump sum, start drawing a guaranteed income immediately, for life. |
To price several of these against each other on the same age and sum assured, the LIC premium calculator runs every plan on the site through the same engine and puts the answers in one table.
LIC Jeevan Utsav Single Premium: frequently asked questions
What is the difference between Jeevan Utsav 771 and Jeevan Utsav Single Premium 883?
Plan 771 is paid for with 5 to 16 annual premiums; Plan 883 is paid for once. That changes what you choose. On 771 you pick a premium paying term and the income starts three years after the last premium, never before year 11. On 883 you pick a Guaranteed Addition Period of 7 to 17 years and the income starts the year after it ends, so it can begin as early as year 8. The income itself is the same in both: 10% of the Basic Sum Assured every year for life.
How is the single premium for Jeevan Utsav Single Premium calculated?
LIC publishes a tabular single premium per ₹1000 of Basic Sum Assured for each combination of entry age and Guaranteed Addition Period. Its own illustration for a ₹5,00,000 sum assured is ₹4,64,150 on an 8-year period, ₹3,61,875 on 12 years and ₹2,85,725 on 16 years at entry age 10. A rebate then comes off, rising with the sum assured and falling with entry age, from ₹21 per ₹1000 at age 20 on a ₹50 lakh policy down to ₹10 per ₹1000 at age 60. Buying online earns a further 2% of the tabular premium.
When does the income start in Jeevan Utsav Single Premium?
The year after the Guaranteed Addition Period ends. A 7-year period pays its first income at the end of policy year 8, a 12-year period in year 13, and a 17-year period in year 18. The plan also requires that the first payment falls no earlier than age 18, which is why the shorter periods are only sold to older entrants.
Can I switch from Regular Income to Flexi Income later?
Yes. The brochure allows the survival benefit option to be changed in either direction during the Guaranteed Addition Period. Once that period ends the choice is fixed.
What is the surrender value of Jeevan Utsav Single Premium?
The Guaranteed Surrender Value is 75% of the single premium during the first three policy years and 90% thereafter, reduced by any income benefits already due and paid. LIC pays the higher of that and the Special Surrender Value. Surrendering a single premium policy in the first three years therefore gives up a quarter of what you put in.
Which Guaranteed Addition Period should I choose in plan 883?
It depends on when you want the income rather than on which period looks cheapest. A short period costs more because the income starts sooner and runs longer; a long one costs less because you wait. On LIC's own illustration for a 5 lakh sum assured the single premium runs from about 4.64 lakh on an 8-year period down to about 2.86 lakh on a 16-year one. Work out the year you want the first payment, then read the period off that.
How much income does Jeevan Utsav Single Premium pay?
10% of the Basic Sum Assured every year for life, starting the year after the Guaranteed Addition Period ends. On a 5 lakh sum assured that is 50,000 a year. Note that this is 10% of the sum assured and not 10% of what you paid: the same policy costs around 3.6 lakh at entry age 30 on a 12-year period, so the income is a larger fraction of the premium than the headline suggests.
Is plan 883 better than plan 771?
Neither is better; they are funded differently. 883 wants the whole cost at once and can start paying as early as policy year 8. 771 spreads the cost over 5 to 16 annual premiums and cannot start before year 11. If the lump sum is sitting idle, 883 puts it to work sooner. If it is not, 771 is the same income on an instalment plan.
Spot something wrong?
If a figure on this page disagrees with an LIC premium notice, bonus statement or benefit illustration, tell us and we will check it against the brochure. Anything else you think this page gets wrong is just as welcome.
Related calculators
Plans people usually weigh up against Jeevan Utsav Single Premium before deciding.
Jeevan Utsav
No. 771Guaranteed additions during the premium term, then 10% of the sum assured a year for life.
Open calculatorJeevan Umang
No. 7458% of the sum assured every year for life once premiums finish, and cover to age 100.
Open calculatorSingle Premium Endowment Plan
No. 717Pay once, stay covered, collect the sum assured plus bonuses at the end.
Open calculatorJeevan Akshay-VII
No. 857Hand over a lump sum, start drawing a guaranteed income immediately, for life.
Open calculator