If you’re aiming for a financially secure and peaceful retirement, the LIC Jeevan Utsav plan might be just what you need. Offered by the Life Insurance Corporation of India, this innovative policy ensures lifelong income after a limited premium-paying term.

Under the Jeevan Utsav scheme, you choose a premium payment period between 5 to 16 years. After this period ends, LIC will start giving you an annual income of 10% of your sum assured — up to ₹2.5 lakh per year, or roughly ₹20,000 per month — for life, until you turn 100.

Key Highlights of LIC Jeevan Utsav:

Premium Term Options: 5 to 16 years

Lifetime Income: Begins after the waiting period, depending on chosen term

Income Amount: 10% of the sum assured annually

Sum Assured: Minimum ₹5 lakh

Eligibility Age: 90 days to 65 years

Death Benefit: Full sum assured to nominee

Income Options: Regular or Flexi

Additional Perks: Tax savings and loan facility available

Waiting Period Details:

5-year premium term → 5-year waiting period

6-year term → 4 years wait

7-year term → 3 years wait

8–16-year term → 2 years wait

This plan combines lifelong income, tax benefits, and financial protection for your loved ones. Interested individuals can visit the official LIC website or contact a registered LIC agent for more details.

Disclaimer: This article is based on publicly available information. Please verify with official LIC sources before making financial decisions.