By | September 4, 2017


हिंदी में जानें

LIC Jeevan Utkarsh plan is a Single Premium,Non-linked, with Profits, saving cum Protection Plan wherein the risk cover is Ten Times of Single Premium payment. Jeevan Utkarsh is a closed ended plan which start from 06/09/2017 to 270 days only.


The last date for LIC Jeevan Utkarsh Plan was 31, March 2018. But, now this plan last date has been extended to 02,June 2018. This plan is similar to LIC’s old plan Jeevan Shikhar-837. The benefits and other details of the plan are given below.

Key Features

  • High Risk Cover in case of death
  • Option to select Maturity Sum Assured (MSA)
  • Guaranteed Return (MSA) + Loyalty addition on maturity
  • Any time surrender option & higher surrender value
  • Premium paid is eligible for rebate under 80(C)
  • Maturity amount will be tax free under 10(10D)

Lic Jeevan Utkarsh Plan 846 Eligibility Conditions

[jtrt_tables id=’2554′]

LIC Jeevan Utkarsh Plan 846 Benefits

Death Benefit:

On death during first five policy years- If the insured dies during five years, then will be paid 10 times of Single Premium to the nominee. But if the policy is taken in the name of the child, the risk will start only after completion of 8 years, and the single premium will be refunded only if it dies before the age of 8 years.

After the date of commencement of risk- “Sum Assured on Death” shall be payable. On death after completion of five policy years but before the stipulated Date of Maturity: “Sum Assured on Death” equal to 10 times the Tabular Single Premium along with Loyalty Addition, if any, shall be payable. Where “Sum Assured on Death” is defined as the highest of 125% of the single premium; or Guaranteed Sum Assured on Maturity i.e. Basic Sum Assured ; or “Absolute amount assured to be paid on death” i.e. 10 times of Single Premium payment


8 Years is minimum age of risk commencement under this policy and Loyalty Addition is applicable only after 5 years of successful policy term.

Maturity Benefit:

On the Life Assured surviving to the end of the policy term, “Sum Assured on Maturity” along with Loyalty Addition, if any, shall be payable. Where “Sum Assured on Maturity” is equal to Basic Sum Assured.

Loyalty Addition:

Depending upon the Corporation’s experience the policies under this plan shall be eligible for Loyalty Addition at the time of exit after completion of five policy years in the form of Death during the policy term or Maturity, at such rate and on such terms as may be declared by the Corporation.In addition, Loyalty Addition, if any, shall also be considered in Special Surrender Value calculation on surrender of policy during the policy term, provided the policy has completed five policy years.

Optional Benefit:

LIC’s Accidental Death and Disability Benefit Rider shall be available under this plan. LIC’s Accidental Death and Disability Benefit Rider UIN (512B209V01): LIC’s Accidental Death and Disability Benefit Rider shall be available as an optional rider by payment of additional premium. This rider can be opted for at inception only. The benefit cover under this rider shall be available during the policy term of the base plan.

If this benefit is opted for, an additional amount equal to the Accident Benefit Sum Assured is payable on death due to accident, provided the rider is inforce at the time of accident. In case of accidental permanent disability (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly installments spread over 10 years. If the policy becomes a claim by way of death before the expiry of the said period of 10 years, the disability benefit instalments which have not fallen due will be paid along with the claim amount

Jeevan Utkarsh Lic Plan 846 Policy Rebates

High Basic Sum Assured Rebate: Basic Sum Assured (B.S.A) chosen under the policyReduction in Tabular premium (per Rs. 1000/- Basic Sum Assured)
Rs.75,000 to Rs.1,45,000Nil
Rs.1,50,000 to Rs. 2,95,000Rs. 15.00
Rs.3,00,000 to Rs. 4,80,000Rs. 20.00
Rs.5,00,000 and aboveRs. 25.00

Jeevan Utkarsh Plan (846) with an Example

Suppose Mr. SUNIL is purchasing Jeevan Utkarsh Plan (846) with following details.
Maturity Sum Assured: Rs. 3,00,000/-
Policy Term: 12 Years
Policy Purchase Year: 2017
Age: 30 Years.
As per above details, Single Premium: will be Rs. 1,69,713/- (with GST)

[jtrt_tables id=’2558′]


Date of Date Commencement of Risk :

In Case the age at entry of Life assured is less than 8 years, the risk under this plan will commence from one day before anniversary coinciding with or immediately following completion of 8 Years of age. For those aged 8 Years or more, risk will commence immediately.

Surrender Value : At any time during the Policy Term, Subject to realization of the Premium cheque.

Guranteed Surrender Value:- First Year of Policy Term :-70 % of Single Premium.

Thereafter:-90% of Single Premium.( Excluding Extra Premium).


Additional Information of LIC Jeevan Utkarsh Plan-846

Loan facility-Loan facility is available under this plan, after payment of premiums for at least 3 month subject to the policy conditions.

Date of Vesting -: It is applicable only if the age of the Assured is below 18 years on the date of commencement of the policy.

Free Look Period-If the Insured is not satisfied with the terms and conditions in the policy, he will be provided with a free look period of 15 days. The Policyholder have to state the reasons and should submit the policy to the Life Insurance Corporation of India with the given free look period.

Suicide clause- If the life assured commits suicide before 12 months from the date of commencement of risk, he/she would be returned with 90% of premiums paid excluding any taxes and extra premium, if any.

Taxes-: Taxes, if any, shall be as per the Tax laws and the rate of tax as applicable from time to time.

Back Dating :- Allowed with in same financial Year.

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