LIC Jeevan Utsav 871 was a guaranteed whole life income plan sold from 29 November 2023 to 1 October 2024. Policyholders pay for 5 to 16 years, earn ₹40 per ₹1,000 sum assured as guaranteed additions while paying, and then receive 10% of the sum assured every year for life. For a 30-year-old with ₹10 lakh cover and a 10-year paying term, the calculator estimates about ₹1,19,300 a year.
Jeevan Utsav 871 Premium & Income Calculator
Your estimate
10% of sum assured, from age 43
- Premium per instalment
- ₹1,19,300
- Total premium paid
- ₹11,93,000
- Guaranteed additions₹40 per ₹1,000 each year of the paying term
- ₹4,00,000
- First income at age
- 43 years
- Total income till age 100
- ₹58,00,000
- Death benefitsum assured on death + additions, whole life
- ₹14,00,000
- Total premium paid₹11,93,00017%
- Income till age 100₹58,00,00083%
Year-wise premiums, additions, income and death cover
| Year | Age at entry | Premium paid | Guaranteed additions | Income | Income received | Death benefit |
|---|---|---|---|---|---|---|
| 1 | 31 | ₹1,19,300 | ₹40,000 | ₹0 | ₹0 | ₹10,40,000 |
| 2 | 32 | ₹2,38,600 | ₹80,000 | ₹0 | ₹0 | ₹10,80,000 |
| 3 | 33 | ₹3,57,900 | ₹1,20,000 | ₹0 | ₹0 | ₹11,20,000 |
| 4 | 34 | ₹4,77,200 | ₹1,60,000 | ₹0 | ₹0 | ₹11,60,000 |
| 5 | 35 | ₹5,96,500 | ₹2,00,000 | ₹0 | ₹0 | ₹12,00,000 |
| 6 | 36 | ₹7,15,800 | ₹2,40,000 | ₹0 | ₹0 | ₹12,40,000 |
| 7 | 37 | ₹8,35,100 | ₹2,80,000 | ₹0 | ₹0 | ₹12,80,000 |
| 8 | 38 | ₹9,54,400 | ₹3,20,000 | ₹0 | ₹0 | ₹13,20,000 |
| 9 | 39 | ₹10,73,700 | ₹3,60,000 | ₹0 | ₹0 | ₹13,60,000 |
| 10 | 40 | ₹11,93,000 | ₹4,00,000 | ₹0 | ₹0 | ₹14,00,000 |
| 11 | 41 | ₹11,93,000 | ₹4,00,000 | ₹0 | ₹0 | ₹14,00,000 |
| 12 | 42 | ₹11,93,000 | ₹4,00,000 | ₹0 | ₹0 | ₹14,00,000 |
| 13 | 43 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹1,00,000 | ₹14,00,000 |
| 14 | 44 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹2,00,000 | ₹14,00,000 |
| 15 | 45 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹3,00,000 | ₹14,00,000 |
| 16 | 46 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹4,00,000 | ₹14,00,000 |
| 17 | 47 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹5,00,000 | ₹14,00,000 |
| 18 | 48 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹6,00,000 | ₹14,00,000 |
| 19 | 49 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹7,00,000 | ₹14,00,000 |
| 20 | 50 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹8,00,000 | ₹14,00,000 |
| 25 | 55 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹13,00,000 | ₹14,00,000 |
| 30 | 60 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹18,00,000 | ₹14,00,000 |
| 35 | 65 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹23,00,000 | ₹14,00,000 |
| 40 | 70 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹28,00,000 | ₹14,00,000 |
| 45 | 75 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹33,00,000 | ₹14,00,000 |
| 50 | 80 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹38,00,000 | ₹14,00,000 |
| 55 | 85 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹43,00,000 | ₹14,00,000 |
| 60 | 90 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹48,00,000 | ₹14,00,000 |
| 65 | 95 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹53,00,000 | ₹14,00,000 |
| 70 | 100 | ₹11,93,000 | ₹4,00,000 | ₹1,00,000 | ₹58,00,000 | ₹14,00,000 |
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 Utsav Plan 871?
LIC Jeevan Utsav Plan 871 (UIN 512N363V01) is a non-linked, non-participating, whole life plan. It was launched on 29 November 2023 and was one of LIC’s most talked-about launches because it promised a guaranteed income of 10% of the sum assured every year for life.
The plan was withdrawn on 1 October 2024, when LIC relaunched its traditional range under revised IRDAI rules. The replacement is Jeevan Utsav Plan 771. If you already hold an 871 policy, nothing changes for you: every benefit written into your policy stays guaranteed. This page and the calculator above help you check what you pay and what you will receive.
Jeevan Utsav 871 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 871 / 512N363V01 |
| Plan type | Non-linked, non-par, whole life, limited premium |
| Entry age | 90 days to 65 years |
| Premium paying term | 5 to 16 years |
| Premium ceasing age | Up to 75 years |
| Minimum sum assured | ₹5,00,000 |
| Guaranteed additions | ₹40 per ₹1,000 sum assured per paying year |
| Income | 10% of sum assured yearly, for life |
| Sold | 29 Nov 2023 to 1 Oct 2024 |
How the premium works
Your premium depends on your entry age, the paying term and the sum assured. The calculator uses an indicative rate per ₹1,000 sum assured for each paying term and adjusts it for age.
Example 1: a 30-year-old took ₹10 lakh cover with a 10-year paying term.
- Yearly premium: about ₹1,19,300; total ₹11,93,000
- Guaranteed additions: ₹4,00,000 (₹40,000 a year for 10 years)
- Income: ₹1,00,000 a year from age 43, or ₹58 lakh in total up to age 100
- Death benefit: ₹14,00,000
Example 2: a 40-year-old took ₹5 lakh cover with a 5-year paying term and the flexi option. The premium is about ₹1,36,560 a year (₹6,82,800 in total). Income of ₹50,000 a year starts at age 51. Left with LIC until 60, the flexi balance grows to about ₹6,43,768.
Tip: if you hold an older receipt, it shows GST of 4.5% (first year) or 2.25% (later years). That GST no longer applies from 22 September 2025, so compare your renewal amount with the base premium, not the old total.
Income benefit and when it starts
| Paying term | First income at end of |
|---|---|
| 5 to 8 years | 11th policy year |
| 10 years | 13th policy year |
| 12 years | 15th policy year |
| 16 years | 19th policy year |
With regular income, the money is paid to you every year. With flexi income, it stays in the policy at 5.5% compound interest until you withdraw it.
Death benefit
On death at any age while the policy is in force, the nominee receives the sum assured on death (higher of the basic sum assured or 7 times the annualised premium) plus accrued guaranteed additions and any unwithdrawn flexi balance. The total is never below 105% of premiums paid.
Loan, surrender and tax
- Loan: available once the policy has a surrender value. Estimate it with the LIC surrender value calculator.
- Surrender: 871 follows the surrender rules in force before October 2024, which pay less in the early years than the newer 771 version.
- Tax: premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime). The death benefit is generally tax-free. Tax on the yearly income depends on Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) conditions.
Jeevan Utsav 871 vs 771
The core promise is identical in both: 10% income for life, ₹40 per ₹1,000 additions and whole life cover. Plan 771 has revised premium rates and better early surrender values. The minimum entry age also differs: 871 accepted children from 90 days for every premium term, while 771 accepts babies from 30 days only with a 16-year premium term, and sets the minimum at 8 years for premium terms of 5 to 8 years. If you are buying now, use the Jeevan Utsav 771 calculator. If you want to compare with a with-profit income plan, see Jeevan Umang 745.
How to use this calculator
Enter your age at entry, paying term, sum assured and mode exactly as on your policy bond. Choose your income option. The result shows the premium, yearly income, the age at which income starts, the death benefit, and a year-wise table. The figures are estimates; your policy document is the final word.
Frequently asked questions
Can I still buy LIC Jeevan Utsav 871?
No. Plan 871 was withdrawn on 1 October 2024. Existing policies continue with every guaranteed benefit. New buyers get the same design under LIC Jeevan Utsav Plan 771, which carries revised rates and the newer surrender rules.
How much income does Jeevan Utsav 871 pay?
It pays 10% of the basic sum assured every year for life once income starts. A ₹10 lakh policy pays ₹1 lakh a year and a ₹5 lakh policy pays ₹50,000 a year, regardless of the policyholder's age.
When will my Jeevan Utsav 871 income start?
For a 5 to 8-year paying term, the first income arrives at the end of the 11th policy year. For longer paying terms it comes three years after the last premium, for example at the end of the 13th year for a 10-year term.
What happens if I leave my flexi income with LIC?
Under the flexi income option, unclaimed yearly income stays in the policy and earns 5.5% a year, compounded. For example, ₹50,000 a year left untouched from age 51 grows to about ₹6.44 lakh by age 60.
What does my family get if I die during the policy?
The nominee gets the sum assured on death (higher of the basic sum assured or 7 times the annual premium) plus the guaranteed additions accrued, with any unwithdrawn flexi balance. The amount is never less than 105% of the premiums paid.
Do I pay GST on my Jeevan Utsav 871 premium?
Not any more. Individual life insurance premiums became GST-exempt from 22 September 2025. Receipts before that date included GST of 4.5% in the first year and 2.25% after, so your renewal receipt should now be lower than older ones.
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.