LIC's Jeevan Utkarsh 846

LIC’s Jeevan Utkarsh Plan Table No. 846

Recently, LIC has launched a Single Premium new Endowment Plan Jeevan Utkarsh Table No 846. Unique features of this plans are explained along with the example in this article. This plan has death sum assured approximately 10 times the Single premium paid and term of the policy is 12 years. Individuals from age of 6 years to the age of 47 years can opt for this plan. This is the best option for falling interest rate.

Highlights of the Plan Jeevan Utkarsh 846

  • Single Premium.
  • 12 years Policy Term.
  • 6-year Minimum Entry age and maximum 47 years.
  • Rs. 75,000/- Minimum Sum Assured.
  • No Maximum Sum Assured Limit.
  • Loan available After Completion of Three Month of the policy.
  • Policy Can be Surrendered at any time during the policy term.
  • Income tax benefit under section 80C.
  • Maturity amount is tax-free under section 10(10D).
  • On survival maturity sum assured plus loyalty addition, if any, shall be payable.
  • Death Benefits:
    1. On death during First Five Year
      • Before commencement of risk Refund of premium excluding service tax and extra premium, if any, is payable.
      • After commencement of risk, Basic Sum Assured shall be payable( 10 times single premium).
    2. on death after completion of five policy years
      • Basic sum assured along with loyalty addition, if any, is payable.

Example of Jeevan Utkarsh Table no 846

We have taken an Example for age 6 years, 15 years, 25 years, 35 Year and 47 Year with maturity sum assured Rs. 10,00,000/- and Death sum assured is approximately 10 times the premium paid.

Maturity Sum Assured: Rs. 10,00,000/-

PlanJeevan
Utkarsh
Jeevan
Utkarsh
Jeevan
Utkarsh
Jeevan
Utkarsh
Jeevan
Utkarsh
Table846846846846846
Age6 Year15 Year25 Year35 Year47 Year
Premium
Paying Term
11111
Policy
Term
12 Year12 Year12 Year12 Year12 Year
Death Sum
Assured
Rs. 52,01,000/-Rs. 53,84,000/-Rs. 54,99,000/-Rs. 58,96,000/-Rs, 96,88,000/-
Maturity Sum
Assured
Rs. 10,00,000/-Rs. 10,00,000/-Rs. 10,00,000/-Rs. 10,00,000/-Rs. 10,00,000/-
One time
Premium
Rs. 5,17,7380/-Rs. 5,36,503/-Rs. 5,58,030/-Rs. 5,99,517/-Rs. 9,95,781/-
Total Premium
Paid
Rs. 5,17,7380/-Rs. 5,36,503/-Rs. 5,58,030/-Rs. 5,99,517/-Rs. 9,95,781/-
Maturity
Return
Rs. 10,65,000/-Rs. 10,65,000/-Rs. 10,65,000/-Rs. 10,65,000/-Rs. 10,65,000/-
Total
Return
Rs. 10,65,000/-Rs. 10,65,000/-Rs. 10,65,000/-Rs. 10,65,000/-Rs. 10,65,000/-

Above Calculations are approximate and according to current bonus rate. It may vary according to the rate of bonus and taxes.

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