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LIC Jeevan Utsav: New Life Insurance Plan Launched with Lifetime Guaranteed Returns

Published on December 01, 2023
Current Context: The Life Insurance Corporation of India (LIC) has launched a new scheme called Jeevan Utsav.
LIC Jeevan Utsav: New Life Insurance Plan Launched with Lifetime Guaranteed Returns
  • Here are some key details about the plan:
    • Type of Plan: Jeevan Utsav is a non-linked, non-participating, individual, savings, whole life insurance plan.
    • Premium Paying Term: This policy has a limited premium paying term of 5 to 16 years.
    • Sum Assured: The minimum basic sum assured is Rs. 5,00,000. There is no limit on the maximum basic sum assured.
    • Returns: The plan offers lifetime guaranteed returns. After maturity, the policyholder will get 10 percent of the sum assured life long.
    • Benefits: Based on the selected Premium Paying Term (Regular Income to Flexi Income), 10% of the Sum Assured is paid back annually after the specified years.
    • Availability: The plan can be purchased offline through licensed agents, corporate agents, brokers, insurance marketing firms as well as online directly through the LIC website.


Q.1 What type of plan is LIC’s Jeevan Utsav?
a. Linked, Participating, Group, Investment, Term Insurance Plan
b. Non-Linked, Non-Participating, Individual, Savings, Whole Life Insurance Plan
c. Linked, Participating, Individual, Investment, Whole Life Insurance Plan
d. Non-Linked, Participating, Group, Savings, Term Insurance Plan

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