{"uin":"512N392V01","name":"LIC's Jeevan Utsav Single Premium","url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01","insurer":{"slug":"lic","name":"Life Insurance Corporation of India","url":"https://indiainsurances.com/insurer/lic"},"line":"life","category":"whole-life","category_name":"Whole life","irdai_type":null,"kind":"product","status":"active","approved_on":null,"withdrawn_on":null,"summary":"LIC’s Jeevan Utsav Single Premium is a non-par, non-linked, individual savings whole life insurance plan paid by single premium. It pays death or maturity benefits based on the higher of Basic Sum Assured or 1.25 times Tabular Single Premium, guaranteed additions, and survival benefits under Regular Income Benefit or Flexi Income Benefit options.","analysis":{"state":"machine","analysed_at":"2026-10-20 00:58:02.814951+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"quote-verified","value":["Option I – Regular Income Benefit","Option II – Flexi Income Benefit"],"display":"Option I – Regular Income Benefit; Option II – Flexi Income Benefit","note":"These are survival benefit options under the policy.","quote":"Survival Benefit in the form of Regular Income Benefit or Flexi Income Benefit as per the Survival Benefit Option chosen shall be as under: ... i) Option I – Regular Income Benefit ... ii) Option II – Flexi Income Benefit","sources":[{"clause":"1","heading":"The following benefits are payable under a policy","page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-1-3"},{"clause":"1(i)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-1-i"},{"clause":"1(ii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-1-ii"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"(100 - Age at Entry) years","display":"(100 - Age at Entry) years","note":"From the sales brochure.","quote":"vii. | Policy Term | (100 - Age at Entry) years","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS & OTHER RESTRICTIONS","page":3,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11895#c-2"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"The policyholder or claimant must intimate the Corporation about the insured event resulting in a claim at the earliest possible time.","display":"At the earliest possible time","note":null,"quote":"Policyholder or the claimant, as applicable, is required to intimate the Corporation, about the happening of the insured event resulting into a claim under the policy, at the earliest possible time.","sources":[{"clause":"4(a)","heading":"Death Claim","page":15,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-4-a-2"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"quote-verified","value":["Death claim: claim forms, original Policy Document, NEFT mandate, proof of title, proof of death, medical treatment prior to the death (if any), school/college/employer’s certificate, proof of age if age is not admitted","Unnatural death or accidental death: First Information Report (FIR), Panchnama and Post Mortem report","Maturity Benefit/ Survival Benefit/ Surrender Claim: discharge form, original Policy Document, NEFT mandate, proof of age if age is not admitted earlier"],"display":"Death claim documents include claim forms, original policy, NEFT mandate, proof of title, proof of death and applicable supporting records; accidental or unnatural death may need FIR, Panchnama and Post Mortem report; maturity, survival or surrender claims need discharge form, original policy and NEFT mandate.","note":"The Corporation may also call for additional documents as required.","quote":"The normal documents which the claimant shall submit while lodging the claim in case of death of the Life Assured shall be claim forms, as prescribed by the Corporation, accompanied with original Policy Document, NEFT mandate from the claimant for direct credit of the claim amount to the bank account, proof of title, proof of death, medical treatment prior to the death (if any), school/college/employer’s certificate, whichever is applicable, to the satisfaction of the Corporation. If the age is not admitted under the policy, the proof of age of the Life Assured shall also be submitted. ... In case of unnatural death or death on account of or arising from an accident, the Corporation may call for the copies of First Information Report (FIR), Panchnama and Post Mortem report. ... Where the policy results in a Maturity claim/ Survival Benefit Claim or in case of surrender of the policy, the Life Assured/Proposer shall submit the discharge form along with the original Policy Document, NEFT mandate from the claimant for direct credit of the claim amount to the bank account besides proof of age, if the age is not admitted earlier.","sources":[{"clause":"4(a)","heading":"Death Claim","page":15,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-4-a-2"},{"clause":"4(b)","heading":"Maturity Benefit/ Survival Benefit/ Surrender Claim","page":16,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-4-b-2"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"quote-verified","value":"Death claims not requiring investigations: 15 days. Early death claims requiring investigations, decision and payment: 45 days. Maturity claims: on due date.","display":"Death claims not requiring investigations: 15 days; early death claims requiring investigations: 45 days; maturity claims: on due date","note":"The CIS gives TATs but does not state the starting point for the 15 days or 45 days.","quote":"Death claims settlements not requiring Investigations | 15 days\nEarly Death Claims requiring investigations - decision & payment | 45 days ... Settlement of Maturity Claims | On due date","sources":[{"clause":"Row 1","heading":"Death Claims","page":3,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11868#c-row-1-2"},{"clause":"Row 2","heading":"Survival, Maturity, Annuity payments","page":3,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11868#c-row-2-2"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"quote-verified","value":["Suicide within 12 months from the date of commencement of risk: only 80% of the single premium paid, excluding specified items, or surrender value, whichever is higher, and no other claim","This suicide clause is not applicable where age at entry of the Life Assured is below 8 years","If conditions are contravened or an untrue or incorrect statement is contained in the proposal, personal statement, declaration and connected documents or material information is withheld, the policy is void subject to Section 45","No surrender value will be payable on Rider(s), if any"],"display":"Main exclusions are suicide within 12 months, subject to the stated refund; forfeiture for contravention, misstatement or withholding material information subject to Section 45; and no surrender value on riders.","note":null,"quote":"If the Life Assured (whether sane or insane) commits suicide at any time within 12 months from the date of commencement of risk, the Nominee or Beneficiary of the Life Assured shall be entitled to 80% of the single premium paid (excluding any taxes, extra premium and rider premiums other than Term Assurance Rider premium, if any) or Surrender value available as on the date of death, whichever is higher. The nominee or beneficiary of the Life Assured shall not be entitled to any other claim under the Policy. ... This clause shall not be applicable in case age at entry of the Life Assured is below 8 years ... In case any conditions herein contained or endorsed hereon - be contravened or in case it is found that any untrue or incorrect statement is contained in the proposal, personal statement, declaration and connected documents or any material information is withheld, then and in every such case this policy shall be void and all claims to any benefit in virtue of this policy shall be subject to the provisions of Section 45 of the Insurance Act, 1938 as amended from time to time. ... No surrender value will be payable on Rider(s), if any.","sources":[{"clause":"2","heading":"Suicide Exclusion","page":15,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-2-5"},{"clause":"2","heading":"Forfeiture in certain events","page":10,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-2-4"},{"clause":"3(b)","heading":null,"page":11,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-3-b-2"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"First approach LIC’s Grievance Redressal Officers at Branch, Divisional, Zonal or Central Office, the LIC Customer Portal, or co_complaints@licindia.com. If not satisfied or no response is received within 15 days, the customer may approach IRDAI, and claims-related grievances may also go to the Insurance Ombudsman.","display":"LIC GROs / LIC Customer Portal / co_complaints@licindia.com first; then IRDAI if no satisfactory response within 15 days; Ombudsman for claims-related grievances","note":null,"quote":"The Corporation has Grievance Redressal Officers (GROs) at Branch/ Divisional/ Zonal/ Central Office to redress grievances of customers. ... a registered policy holder can directly register complaint/ grievance and track its status. Customers can also contact at e-mail id co_complaints@licindia.com for redressal of any grievances. ... In case the customer is not satisfied with the response or does not receive a response from us within 15 days, then the customer may approach the Policyholder’s Protection and Grievance Redressal Department ... For redressal of Claims related grievances, claimants can also approach Insurance Ombudsman","sources":[{"clause":"Section 45","heading":"of Insurance Act 1938","page":16,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-section-45"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"quote-verified","value":"Minimum Basic Sum Assured is Rs 5,00,000 and maximum Basic Sum Assured is no limit, subject to underwriting decision. Sum Assured on Death and Sum Assured on Maturity are each the higher of Basic Sum Assured or 1.25 times of Tabular Single Premium.","display":"Minimum Basic Sum Assured Rs 5,00,000; maximum Basic Sum Assured no limit, subject to underwriting; death and maturity sum assured are higher of Basic Sum Assured or 1.25 times Tabular Single Premium","note":"The minimum and maximum Basic Sum Assured are from the sales brochure.","quote":"viii. | Minimum Basic Sum Assured | Rs 5,00,000/-\nix. | Maximum Basic Sum Assured | No Limit. However, the maximum Basic Sum Assured allowed to each individual will be subject to underwriting decision as per the Board Approved Underwriting Policy. ... Where “Sum Assured on Death” is defined as the higher of:\n• Basic Sum Assured; or\n• 1.25 times of Tabular Single Premium. ... Where “Sum Assured on Maturity” is defined as the higher of:\n• Basic Sum Assured or\n• 1.25 times of Tabular Single Premium.","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS & OTHER RESTRICTIONS","page":3,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11895#c-2"},{"clause":"1","heading":"The following benefits are payable under a policy","page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-1-3"},{"clause":"1(ii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-1-ii"}],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"quote-verified","value":"On death after commencement of risk, the policy pays Sum Assured on Death plus accrued Guaranteed Additions. Sum Assured on Death is the higher of Basic Sum Assured or 1.25 times Tabular Single Premium; under Flexi Income Benefit, accumulated Flexi Income Benefits due and not withdrawn are also payable. For a minor life assured below age 8 at entry, death before commencement of risk pays return of Single Premium paid excluding taxes, extra premium and rider premiums, without interest.","display":"Sum Assured on Death plus accrued Guaranteed Additions; Sum Assured on Death is higher of Basic Sum Assured or 1.25 times Tabular Single Premium; Flexi option also pays accumulated Flexi Income Benefit due and not withdrawn","note":null,"quote":"On death of the Life Assured after the date of commencement of risk, Death Benefit equal to “Sum Assured on Death” along with accrued Guaranteed Additions shall be payable.\nWhere “Sum Assured on Death” is defined as the higher of:\n• Basic Sum Assured; or\n• 1.25 times of Tabular Single Premium.\nUnder Option II - Flexi Income Benefit, in addition to above any accumulated value of Flexi Income Benefit(s) due and not withdrawn shall also be payable.\nHowever, in case of minor Life Assured, whose age at entry is below 8 years, on death before the date of commencement of Risk (as specified in Condition 3 of Part C below), the death benefit payable shall be return of Single Premium paid excluding taxes, any extra premium and rider premium(s), if any, without interest.","sources":[{"clause":"1","heading":"The following benefits are payable under a policy","page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-1-3"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"quote-verified","value":"On survival to the end of the policy term, the policy pays Sum Assured on Maturity plus accrued Guaranteed Additions. Sum Assured on Maturity is the higher of Basic Sum Assured or 1.25 times Tabular Single Premium; under Flexi Income Benefit, accumulated Flexi Income Benefits due and not withdrawn are also payable.","display":"Sum Assured on Maturity plus accrued Guaranteed Additions; Sum Assured on Maturity is higher of Basic Sum Assured or 1.25 times Tabular Single Premium; Flexi option also pays accumulated Flexi Income Benefit due and not withdrawn","note":null,"quote":"On the life assured surviving to the end of the policy term, “Sum Assured on Maturity” along with accrued Guaranteed Additions shall be payable.\nWhere “Sum Assured on Maturity” is defined as the higher of:\n• Basic Sum Assured or\n• 1.25 times of Tabular Single Premium.\nUnder Option II - Flexi Income Benefit, in addition to above any accumulated value of Flexi Income Benefit(s) due and not withdrawn shall also be payable.","sources":[{"clause":"1(ii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-1-ii"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"Single Premium","display":"Single Premium","note":"From the sales brochure.","quote":"v. | Premium Paying Term | Single Premium","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS & OTHER RESTRICTIONS","page":3,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11895#c-2"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"Age at maturity is 100 years nearer birthday.","display":"100 years (nearer birthday)","note":"From the sales brochure.","quote":"vi. | Age at maturity | 100 years (nearer birthday)","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS & OTHER RESTRICTIONS","page":3,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11895#c-2"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"quote-verified","value":"If the Life Assured, whether sane or insane, commits suicide within 12 months from the date of commencement of risk, the nominee or beneficiary gets 80% of the single premium paid, excluding taxes, extra premium and rider premiums other than Term Assurance Rider premium, or the surrender value available on the date of death, whichever is higher, and no other claim. This clause does not apply where age at entry is below 8 years.","display":"Within 12 months: 80% of single premium paid, excluding specified items, or surrender value, whichever is higher; no other claim; not applicable if age at entry is below 8 years","note":null,"quote":"If the Life Assured (whether sane or insane) commits suicide at any time within 12 months from the date of commencement of risk, the Nominee or Beneficiary of the Life Assured shall be entitled to 80% of the single premium paid (excluding any taxes, extra premium and rider premiums other than Term Assurance Rider premium, if any) or Surrender value available as on the date of death, whichever is higher. The nominee or beneficiary of the Life Assured shall not be entitled to any other claim under the Policy.\nThis clause shall not be applicable in case age at entry of the Life Assured is below 8 years","sources":[{"clause":"2","heading":"Suicide Exclusion","page":15,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-2-5"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 21","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 35","url":"https://indiainsurances.com/law/irdai-life-products-2024"}]},{"key":"surrender","label":"Surrender value","section":"Renewal and rights","meaning":"What you get if you stop the policy early, and from when.","status":"quote-verified","value":"The policy can be surrendered at any time during the policy term. On surrender, LIC pays the higher of Guaranteed Surrender Value plus surrender value of accrued Guaranteed Additions or Special Surrender Value. Guaranteed Surrender Value is 75% of Single Premium Paid during the first three policy years, and thereafter 90% of Single Premium Paid reduced by Regular Income Benefits due and paid under Option I or Flexi Income Benefits due under Option II; under Option II, accumulated Flexi Income Benefit due and not withdrawn is also payable.","display":"Can be surrendered any time; surrender value is higher of GSV plus surrender value of accrued Guaranteed Additions, or SSV; GSV is 75% of Single Premium Paid in first three policy years and 90% thereafter with option-specific reductions","note":"Single Premium excludes taxes, extra premium and rider premiums; no surrender value is payable on riders.","quote":"The policy can be surrendered by the policyholder at any time during the policy term. On surrender of the policy, the Corporation shall pay the Surrender Value higher of ... a) Guaranteed Surrender Value and surrender value of any accrued Guaranteed Additions; or ... b) Special Surrender Value. ... During the first three policy years: The Guaranteed Surrender Value shall be 75% of the Single Premium Paid. Thereafter: The Guaranteed Surrender Value shall be 90% of the Single Premium Paid reduced by Regular Income Benefits due and paid till the date of surrender, if any. | During the first three policy years: The Guaranteed Surrender Value shall be 75% of the Single Premium Paid. Thereafter: The Guaranteed Surrender Value shall be 90% of the Single Premium Paid reduced by Flexi Income Benefits due till the date of surrender, if any. ... Under Option II - Flexi Income Benefit, in addition to surrender value as calculated above any accumulated value of Flexi Income Benefit(s) due and not withdrawn shall also be payable.","sources":[{"clause":"3","heading":"Surrender","page":10,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-3-4"},{"clause":"3(a)","heading":null,"page":10,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-3-a"},{"clause":"3(b)","heading":null,"page":10,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-3-b"},{"clause":"3(a)","heading":null,"page":10,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-3-a-2"},{"clause":"3(b)","heading":null,"page":11,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-3-b-2"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.1 to 26.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.4 and 26.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 27","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.16 and 1.17","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(1) to (3)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(4) and (5)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(6) to (9)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)(c)(V)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"paid_up","label":"Paid-up value","section":"Renewal and rights","meaning":"What cover continues if you stop paying premiums after a few years.","status":"quote-verified","value":"Not applicable.","display":"Not applicable","note":"Single premium policy.","quote":"13. | Lapse, paid-up and revival of the Policy | Not Applicable","sources":[{"clause":null,"heading":"CUSTOMER INFORMATION SHEET /KNOW YOUR POLICY","page":3,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11868#c-customer-information-sheet-know-your-policy-2"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"Not applicable.","display":"Not applicable","note":"Single premium policy.","quote":"13. | Lapse, paid-up and revival of the Policy | Not Applicable","sources":[{"clause":null,"heading":"CUSTOMER INFORMATION SHEET /KNOW YOUR POLICY","page":3,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11868#c-customer-information-sheet-know-your-policy-2"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.7","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.10","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.28","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.39","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"policy_loan","label":"Policy loan","section":"Renewal and rights","meaning":"Whether you can borrow against the policy.","status":"quote-verified","value":"Loan is available within the surrender value, after three months from the Date of issuance of policy or after expiry of the free-look period, whichever is later. During the Guaranteed Addition Period, maximum loan is 60% of surrender value for 7 to 10 years, 50% for 11 to 14 years, and 40% for 15 to 17 years; after the Guaranteed Addition Period, the maximum is subject to the annual interest amount not exceeding 50% of annual Regular/Flexi Income Benefit and a maximum of 75% of surrender value, with an additional loan up to 50% of Flexi Income Benefits due and not withdrawn under Option II.","display":"Available after 3 months from Date of issuance or after free-look, whichever later; maximum during GA Period: 60%, 50% or 40% of surrender value by GA Period; after GA Period: subject to 50% interest cap and maximum 75% of surrender value, plus 50% of due and unwithdrawn Flexi Income Benefits under Option II","note":"Loan interest and foreclosure conditions apply.","quote":"Loan shall be available under the Policy subject to the following terms and conditions, within the surrender value of the policy ... Loan can be availed after three months from completion of the policy (i.e. 3 months from the Date of issuance of policy) or after expiry of the free-look period, whichever is later ... Guaranteed Addition Period | Percentage of Surrender value\n7 years to 10 years | 60%\n11 years to 14 years | 50%\n15 years to 17 years | 40% ... subject to maximum of 75% of Surrender value. ... subject to maximum of 75% of Surrender value. In addition, loan upto 50% of Flexi Income Benefits due and not withdrawn is also permissible.","sources":[{"clause":"4","heading":"Policy Loan","page":11,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-4-4"},{"clause":"4(a)","heading":null,"page":11,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-4-a"},{"clause":"4(b)(i)","heading":null,"page":11,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-4-b-i"},{"clause":"4(b)(ii)","heading":null,"page":11,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-4-b-ii"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"quote-verified","value":["LIC’s Accidental Death and Disability Benefit Rider","LIC’s New Term Assurance Rider"],"display":"LIC’s Accidental Death and Disability Benefit Rider; LIC’s New Term Assurance Rider","note":null,"quote":"The following two Optional rider(s) (or amended versions of these) shall be available on payment of additional premium at inception of policy:\na) LIC’s Accidental Death and Disability Benefit Rider\nb) LIC’s New Term Assurance Rider","sources":[{"clause":"5","heading":"Rider Benefits","page":9,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-5-3"}],"law":[]},{"key":"section45","label":"Claims after 3 years (Section 45)","section":"Claims","meaning":"After 3 years a life policy cannot be questioned on any ground, and only for fraud with proof before that.","status":"quote-verified","value":"No life insurance policy can be called in question on any ground after three years from the later of issuance, commencement of risk, revival or rider date. Within three years it may be questioned for fraud, or for incorrect statement or suppression of a material fact, with grounds and materials communicated; for non-fraud material misstatement or suppression, premiums collected till repudiation are payable within 90 days from repudiation.","display":"After 3 years, no policy can be called in question on any ground; within 3 years, fraud or material misstatement/suppression rules apply","note":null,"quote":"No policy of life insurance shall be called in question on any ground whatsoever after the expiry of three years from the date of the policy, i.e. from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later. ... A policy of life insurance may be called in question at any time within three years from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later on the ground of fraud: ... A policy of life insurance may be called in question at any time within three years from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later, on the ground that any statement of or suppression of a fact material to the expectancy of the life of the insured was incorrectly made ... the premiums collected on the policy till the date of repudiation shall be paid to the insured or the legal representatives or nominees or assignees of the insured within a period of ninety days from the date of such repudiation.","sources":[{"clause":"1","heading":null,"page":22,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-1-6"},{"clause":"2","heading":null,"page":22,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-2-7"},{"clause":"4","heading":null,"page":22,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-4-7"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 45","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.6","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"tax_note","label":"Tax note in the document","section":"Premium","meaning":"What the document says about tax benefits. Not stated when it only says taxes are charged on the premium. Tax law changes; confirm separately.","status":"quote-verified","value":"The sales brochure says to consult your tax advisor for income tax benefits or implications on premiums paid and benefits payable under the plan.","display":"Consult your tax advisor for income tax benefits/implications","note":"From the sales brochure.","quote":"Regarding Income tax benefits/implications on premium(s) paid and benefits payable under this plan, please consult your tax advisor for details.","sources":[{"clause":"9","heading":"TAXES","page":15,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11895#c-9"}],"law":[]},{"key":"free_look","label":"Free-look period","section":"Renewal and rights","meaning":"Days after you receive the policy in which you can return it for a refund if you do not agree with its terms.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days","note":"Refund is after deduction of proportionate risk premium for base policy and riders, medical examination expenses and stamp duty charges.","quote":"During the Free Look period of 30 days from the date of receipt of the electronic or physical mode of Policy Document, whichever is earlier, by the Policyholder, if the Policyholder is not satisfied with the Terms and Conditions of the policy, he/she may return the policy to the Corporation stating the reason of objections.","sources":[{"clause":"6","heading":"Free look period","page":13,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-6-3"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"not-applicable","value":null,"display":null,"note":"This is a single premium policy; CIS states grace period is not applicable.","quote":null,"sources":[],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"quote-verified","value":"Minimum entry age depends on the Guaranteed Addition Period, ranging from 30 days completed for a 17-year Guaranteed Addition Period to 10 years completed for a 7-year Guaranteed Addition Period. Maximum entry age is 65 years nearer birthday.","display":"Minimum: 30 days to 10 years completed depending on Guaranteed Addition Period; maximum: 65 years (nearer birthday)","note":"From the sales brochure.","quote":"ii. | Minimum Age at Entry | Guaranteed Addition Period (in years) | Minimum Age at Entry (Completed)\n7 8 9 10 11 12 13 14 15 16 17 | 10 years 9 years 8 years 7 years 6 years 5 years 4 years 3 years 2 years 1 year 30 days\niii. | Maximum Age at Entry | 65 years (nearer birthday)","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS & OTHER RESTRICTIONS","page":3,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11895#c-2"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"quote-verified","value":["Single Premium"],"display":"Single Premium","note":"From the sales brochure.","quote":"v. | Premium Paying Term | Single Premium","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS & OTHER RESTRICTIONS","page":3,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11895#c-2"}],"law":[]},{"key":"premium_type","label":"Premium payment type","section":"Premium","meaning":"Single premium, regular premium (every year of the term) or limited premium (fewer years than the term).","status":"quote-verified","value":["Single Premium"],"display":"Single Premium","note":"From the sales brochure.","quote":"v. | Premium Paying Term | Single Premium","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS & OTHER RESTRICTIONS","page":3,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11895#c-2"}],"law":[]},{"key":"guaranteed_benefits","label":"Guaranteed benefits","section":"Cover","meaning":"What is guaranteed regardless of performance.","status":"quote-verified","value":"Death and maturity benefits are guaranteed as Sum Assured on Death or Maturity plus accrued Guaranteed Additions, where the sum assured is the higher of Basic Sum Assured or 1.25 times Tabular Single Premium. Survival benefit is 10% of Basic Sum Assured under Regular or Flexi Income Benefit, and Guaranteed Additions accrue at Rs. 40 per thousand Basic Sum Assured during the Guaranteed Addition Period; Flexi Income Benefits accumulate at 5.5% p.a. compounding yearly until withdrawal, surrender, death or maturity.","display":"Death/maturity: higher of Basic Sum Assured or 1.25 times Tabular Single Premium plus accrued Guaranteed Additions; survival: 10% of Basic Sum Assured; Guaranteed Additions: Rs. 40 per thousand during GA Period; Flexi accumulates at 5.5% p.a.","note":null,"quote":"Under such non-par policies, the benefits payable on death or maturity are guaranteed and fixed as per the terms and conditions of the policy. ... Where “Sum Assured on Death” is defined as the higher of:\n• Basic Sum Assured; or\n• 1.25 times of Tabular Single Premium. ... On survival of Life Assured, Regular Income Benefit equal to 10% of Basic Sum Assured shall be payable ... On survival of Life Assured, the policyholder shall be eligible for Flexi Income Benefit equal to 10% of Basic Sum Assured ... Each Flexi Income Benefit shall be deferred and accumulated at the accumulation rate of 5.5% p.a. compounding yearly ... Where “Sum Assured on Maturity” is defined as the higher of:\n• Basic Sum Assured or\n• 1.25 times of Tabular Single Premium. ... The Guaranteed Additions shall accrue at the rate of Rs. 40 per thousand Basic Sum Assured at the end of each policy year during the Guaranteed Addition Period.","sources":[{"clause":"31","heading":"Non-Par Products","page":6,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-31"},{"clause":"1","heading":"The following benefits are payable under a policy","page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-1-3"},{"clause":"1(i)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-1-i"},{"clause":"1(ii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-1-ii"},{"clause":"2","heading":"Guaranteed Additions","page":9,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878#c-2-3"}],"law":[]},{"key":"bonus","label":"Bonus type","section":"Cover","meaning":"Bonuses are not guaranteed.","status":"quote-verified","value":"No bonus is payable because this is a non-par product and is not entitled to discretionary benefits like bonus or share in surplus.","display":"No bonus; non-par product not entitled to discretionary benefits like bonus or share in Surplus","note":"From the sales brochure; the policy wording also defines non-par products as not entitled to a share in surplus.","quote":"This is a Non-Par product under which benefits payable on death or survival are guaranteed and fixed irrespective of actual experience. Hence the policy is not entitled to any discretionary benefits like bonus etc. or share in Surplus.","sources":[{"clause":null,"heading":"Jeevan Utsav Single Premium","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11895#c-jeevan-utsav-single-premium"}],"law":[]}],"documents":[{"kind":"wording","label":"Policy Document","pages":24,"fetched_at":"2026-10-17 19:50:35+00","source_url":"https://licindia.in/documents/20121/1639838/Policy+Document_Jeevan+Utsav+Single+Premium_13012026.pdf/7f1b27d0-734a-f571-bfb7-cf208663897f?t=1768289226196","url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11878"},{"kind":"cis","label":"CIS","pages":5,"fetched_at":"2026-10-17 19:50:17+00","source_url":"https://licindia.in/documents/20121/1639841/CIS_Jeevan+Utsav+Single+Premium_13012026.pdf/452fefc3-79d1-76e1-80eb-d27005f9aa00?t=1768289247449","url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11868"},{"kind":"brochure","label":"Sales Brochure","pages":29,"fetched_at":"2026-10-17 19:50:49+00","source_url":"https://licindia.in/documents/20121/1639835/LIC_Jeevan+Utsav++Single+Premium_Sales+Brochure_English.pdf/4f48bd54-fab2-1b97-cc38-fb19dc663399?t=1768116819230","url":"https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01/document/11895"}],"versions":[],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"LIC official website","url":"https://www.licindia.in/","note":"Buy directly from the insurer."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"insurer","name":"Claims settlement requirements","url":"https://licindia.in/web/guest/claims-settlement-requirements","note":null},{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"insurer","name":"Grievance redressal","url":"https://licindia.in/web/guest/grievances","note":null},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"LIC's Jeevan Utsav Single Premium (UIN 512N392V01), IndiaInsurances, https://indiainsurances.com/policy/lic/lic-s-jeevan-utsav-single-premium-512n392v01"}