LIC Jeevan Utkarsh (Plan 846) was a close-ended, with-profit single premium endowment plan with a fixed 12-year term. You paid once, got 10 times the tabular premium as life cover, and received the sum assured plus any loyalty addition at maturity. For a 35-year-old with ₹5 lakh sum assured, our calculator gives a single premium of ₹2,62,500 and ₹27.5 lakh death cover.
Jeevan Utkarsh 846 Single Premium & Maturity Calculator
Your estimate
- Death benefit10 × tabular single premium, plus loyalty addition after 5 years
- ₹27,50,000
- High sum assured rebate
- ₹12,500
- Estimated surrender valueabout 90% of single premium from year 2
- ₹2,36,250
- Approx. return (IRR)
- 5.52%
- Age at maturity
- 47 years
- Single premium₹2,62,50053%
- Net gain₹2,37,50048%
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC Jeevan Utkarsh Plan 846?
LIC Jeevan Utkarsh (Plan 846) was a close-ended, non-linked, with-profit single premium endowment plan. You paid one premium, the policy ran for a fixed 12 years, and it combined two things:
- High life cover of 10 times the tabular single premium for the whole term.
- A guaranteed maturity amount equal to the basic sum assured, plus a loyalty addition if LIC declared one.
LIC offered it only for a limited sale window, and it is no longer available. This page helps existing policyholders estimate their maturity and death benefit.
Jeevan Utkarsh 846 at a glance
| Feature | Details |
|---|---|
| Plan number | 846 |
| Policy term | 12 years, fixed |
| Premium | Single premium only |
| Entry age | 6 years (completed) to 47 years |
| Basic sum assured | Minimum ₹75,000; multiples of ₹5,000 below ₹3 lakh, ₹20,000 above |
| Death benefit | 10 × tabular single premium (+ loyalty addition after 5 years) |
| Maturity benefit | Basic sum assured + loyalty addition |
| Settlement option | Instalments over 5, 10 or 15 years |
| Rider | Accident death and disability benefit |
Premium and worked example
The single premium is a rate per ₹1,000 of sum assured that rises gently with age, less a rebate for larger policies: ₹15 per ₹1,000 from ₹1.5 lakh, ₹20 from ₹3 lakh and ₹25 from ₹5 lakh. The rate table in our source fell with age, which does not fit a plan whose cover grows with the premium, so we rebuilt it around the source’s own worked example (₹2,62,450 for ₹5 lakh at age 35).
Example: a 35-year-old chooses ₹5,00,000 sum assured.
- Single premium: ₹2,62,500 (after a ₹12,500 rebate)
- Death cover: ₹27,50,000 for the whole term
- Maturity at age 47: ₹5,00,000 plus loyalty addition
- Approximate guaranteed return: 5.52% a year
With the accident rider, a 30-year-old taking ₹10 lakh pays about ₹5,27,000, including ₹9,000 for the rider, and has ₹54.3 lakh of cover (₹64.3 lakh for accidental death). No GST applies to individual life premiums from 22 September 2025.
Tip: the loyalty addition is where the real upside lies. Ask LIC for the rate declared for your maturity year and enter it above to see your full payout.
Why the cover is so high
Utkarsh priced death cover as a multiple of the premium, not of the sum assured. On a ₹5 lakh policy, the family was protected for more than five times the maturity amount. That made the plan a mix of a fixed deposit and a 12-year term cover.
Tax
Because the cover was 10 times the premium, the policy normally satisfied the premium-to-sum-assured test, so the single premium qualified for Section 123 of the Income-tax Act, 2025 (earlier Section 80C) and the maturity and death claim were generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)).
Similar plans
Utkarsh followed the pattern of Jeevan Sugam 813, which also offered 10× cover but over 10 years, and differed from Jeevan Vaibhav 809, where death cover equalled the sum assured. To see how your maturity compares with simple interest alternatives, try the LIC maturity calculator.
How to use this calculator
- Enter the age at entry and sum assured.
- Turn on the rider if it was part of your policy.
- Enter a loyalty addition if you know it.
- Read the single premium, maturity amount, death cover, surrender estimate and return.
Frequently asked questions
Can I still buy LIC Jeevan Utkarsh 846?
No. Jeevan Utkarsh was a close-ended plan sold only for a limited period and is no longer on sale. Existing policies continue for their full 12-year term. For a current single premium savings plan, look at LIC's Single Premium Endowment Plan 717.
What is the death benefit in Jeevan Utkarsh?
After risk commencement, the nominee receives the highest of 10 times the tabular single premium, the basic sum assured or 125% of the single premium, which in practice is the 10× figure. A loyalty addition is added for deaths after five policy years.
What is the maturity benefit of Jeevan Utkarsh 846?
At the end of 12 years, the policyholder receives the basic sum assured plus any loyalty addition. The sum assured part is guaranteed; the loyalty addition depends on LIC's experience and is declared at the time.
When does risk start for a child in Jeevan Utkarsh?
For entry ages of 8 and above, cover starts immediately. For younger children, full risk cover begins later, around age 8; if the child dies before that, the single premium is refunded instead of the full death benefit.
Can I take a loan on Jeevan Utkarsh?
Yes. The plan allowed a loan early in the term, up to 90% of the surrender value. Surrender values were roughly 70% of the single premium in the first year and 90% after that.
Is there a settlement option?
Yes. Instead of a lump sum, the maturity or death claim could be taken in instalments over 5, 10 or 15 years, which helps families that prefer a steady flow of money.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.