LIC Single Premium Endowment Plan- Jeevan Utkarsh (Table no. 846)

By | September 2, 2017

                                    IMG-20170905-WA0027 (2)

An Introduction to the LIC Jeevan Utkarsh Plan No 846:

LIC Jeevan Utkarsh Policy (Plan No 846) was initiated by The Life Insurance Corporation of India in September 2017. It is a single premium policy which will be not linked with the profits. Besides this, this can also be defined as saving cum Protection Plan wherein the risk cover is ten times. After opening for sale, the close ended plan which will be for 270 days which is approximately 9 months.

Unique Identification Number


The Unique Identification Number (UIN) of LIC Jeevan Utkarsh Policy (Plan No 846) is 512N……….V01. This number owes its significance because it has to be quoted in all the relevant documents given to the Policyholders and other users like the distribution channels, public, etc.


LIC Jeevan Utkarsh Plan No. 846 eligibility details are given below:

Minimum Entry Age 6 Years (completed)
Maximum Entry Age 47 Years (NBD)
Mode of Pre. Payment Single
Minimum Sum Assured Rs. 75, 000
Maximum Sum Assured No Limit
Policy Term 12 years or 144 months.

Sum Assured is in the multiple

of Rs 5, 000/- if Basic Sum Assured under a policy is below 3 lakh Rupees.

Of Rs 20, 000/- if Basic Sum Assured under a policy is 3 Lakh Rupees and above.

Date of Commencement of Risk

If the age while entering into the date of commencement of the risk of the assured is less than 8 years old, then the risk under this plan will start from one day before the policy anniversary coinciding with or immediately following the completion of eight years of age. For those policyholders whose age is 8 years or more, risk will commence immediately.

Date of Issuance of Policy

This is the date when after the underwriting is accepted as a policy and the contract gets effected.

Date of vesting under the plan

If there is nothing received in writing by the Life Insurance Corporation Of India, then the policy shall be automatically vest in the life assured on such vesting date. The policy anniversary coinciding with or immediately following the completion of 18 years of age and shall on such vesting be deemed to be a contract between the corporation and the life assured.

Rebates under LIC Jeevan Utkarsh

There are provisions of rebate in case of high basic sum assured rebate:

Basic Sum Assured (BSA) Chosen Under the policy Reduction in Tabular premium
Rs 75, 000 to Rs 1, 45, 000 NIL
Rs 1, 50, 000 to Rs 2, 95, 000 Rs 15
Rs 3, 00, 000 to Rs 4, 80, 000 Rs 20
Rs 5, 00, 000 Rs 25

Maturity Advantage of the Jeevan Utkarsh Plan

On the maturity of the term of this insurance plan, there are provisions for getting many advantages if one looks from the part of the insured.  The life assured survives to the end of the term of the policy, sum assured on maturity along with loyalty addition (if any) shall be payable, if the sum assured is equal to Basic Sum Assured. Depending upon the Corporations vivid and vital experience, the policies under this plan shall be eligible for Loyalty Addition at the time of exit after completion of five years in the form of death during the policy term or maturity, as declared by the Life corporation of India.

Death during first five policy years

If it happens before the date of commencement of risk then there will be refund of single premium without any sort of interest. Single premium mentioned already in this article will be applicable which will not have any form of taxes, extra premium chargeable under the policy due to underwriting decision and rider premium, if any.

If it happens after the date of commencement of risk, then the Sum assured on Death shall be payable.

Death after completion of five years or thirty months but before the mentioned Date of Maturity

If the death happens after the five policy years, or after 60 months then sum assured to the death is equivalent to ten times the tabular single premium along with Loyalty Addition, (if any), shall be payable.

LIC’s Accidental Death and Disability B Rider

  1. Minimum Entry Age: 18 years
  2. Maximum Entry Age: 47 Years
  3. Minimum Accidental benefits Sum Assured: Rs. 1, 00, 000/-
  4. Accidental Benefit is in multiple of 10, 000.

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