LIC Jeevan Utsav Single Premium Plan 883 is a whole life insurance plan that provides lifelong risk cover and guaranteed income in return for a one-time premium payment. It is identified by UIN 512N392V01 and will be available for purchase from 12 January 2026, after being officially launched on 6 January 2026.

What Is LIC Jeevan Utsav Single Premium Plan 883?

LIC Jeevan Utsav Single Premium Plan 883 is a non-linked, non-participating, individual savings, whole life insurance plan. It combines life cover with guaranteed additions and lifelong income options under a single premium payment structure.

This plan is designed for people who want to pay premium only once and enjoy benefits like lifelong income, death cover, and guaranteed additions without worrying about future premium payments. It is an extension of the existing Jeevan Utsav concept but structured as a one-time payment product.

Launch Date, UIN, and Basic Details

• The plan was officially launched on 6 January 2026 by LIC’s CEO & MD R. Doraiswamy.​
• LIC Jeevan Utsav Single Premium Plan 883 will be available for purchase across India from 12 January 2026.
• Plan Number: 883 and Unique Identification Number (UIN): 512N392V01.

Key eligibility details:

• Minimum entry age: 30 days.
• Maximum entry age: 65 years.
• Minimum Basic Sum Assured: ₹5,00,000.
• Maximum Sum Assured: No fixed upper limit (subject to underwriting).

For official features and policy wording, users can refer to LIC’s official page and press release:

• LIC official page (Hindi): https://licindia.in/hi/lic-s-jeevan-utsav-single-premium​
• LIC press release PDF list: https://licindia.in/press-release

Feature	Details
Plan Name	LIC Jeevan Utsav Single Premium (Plan 883) ​
UIN	​512N392V01
Launch Date	6 January 2026 (Available from 12 Jan) ​
Min Age	30 days ​
Max Age	65 years ​
Min Sum Assured	₹5,00,000 ​
Guaranteed Additions	₹40 per ₹1,000 Basic Sum Assured/year ​
Premium Type	Single Premium only ​

Key Features of LIC Jeevan Utsav Single Premium Plan 883

LIC Jeevan Utsav Single Premium offers a mix of guaranteed income, guaranteed additions, and whole life risk cover. Important features include:

• Single Premium Payment: The policyholder pays premium only once at the start (tabular single premium), and all future benefits are based on this.
• Whole Life Coverage: The plan provides life cover for the lifetime of the life assured, subject to policy terms.
• Guaranteed Additions: Guaranteed additions at a fixed rate of ₹40 per ₹1,000 of Basic Sum Assured during the guaranteed addition period.
• Two Survival Benefit Options: Regular Income Benefit and Flexi Income Benefit for survival after the guaranteed addition period.
• Death and Maturity Linked to Single Premium: Sum Assured on Death and Sum Assured on Maturity are linked to Basic Sum Assured and 1.25 times of tabular single premium.​
• Loan Facility: Policy loan is allowed after acquiring surrender value to meet liquidity needs.​
• High Sum Assured Rebates and Optional Riders: The plan offers rebates for higher sum assured brackets and allows addition of riders like Accidental Death and Disability Benefit and Term Assurance riders (as per LIC rules).​

How LIC Jeevan Utsav Single Premium 883 Works

In simple terms, the working of this plan involves four main stages: premium payment, guaranteed additions, survival income, and claim/benefit payout.

• At the start, you select your Basic Sum Assured, survival benefit option (Regular or Flexi), and pay the single premium based on age, sum assured, and other factors.​
• During the guaranteed addition period, your policy earns guaranteed additions at ₹40 per ₹1,000 of Basic Sum Assured every policy year.
• After this period, you start receiving survival benefits in the form of regular or flexible income, depending on the option chosen.​
• On death or maturity (as per plan rules), the nominee or policyholder receives the higher of Basic Sum Assured or 1.25 times tabular single premium plus accumulated guaranteed additions.​

The exact duration of the guaranteed addition period and detailed benefit schedule are provided in the official brochure and should be checked before purchase.​

What Is a LIC Jeevan Utsav Single Premium 883 Calculator?

A LIC Jeevan Utsav Single Premium Plan 883 Calculator is an online tool that helps users estimate important values like single premium amount, expected guaranteed additions, survival income, and potential maturity or death benefit based on inputs like age and sum assured. (Concept description based on standard LIC calculator patterns.)

Such a calculator is useful because manual calculations can be complex due to multiple elements like guaranteed additions, sum assured on death, and income options. (Concept explanation based on typical insurance calculation logic.)

While LIC may offer an indicative premium calculator on its official website, many independent websites also build calculators to help users compare benefits and understand the plan in simple terms.

Inputs Required in a LIC Jeevan Utsav 883 Calculator

A typical LIC Jeevan Utsav Single Premium calculator will ask for some or all of the following inputs (exact items may vary by website): (Structure inspired by common LIC plan calculator designs.)

• Age (in years): Age of the life assured at entry; must be between 30 days and 65 years as per plan rules.
• Basic Sum Assured: Minimum ₹5,00,000 and no maximum limit, subject to underwriting.
• Gender: Male/Female/Other (as per insurer’s underwriting norms). (Standard practice in life insurance calculators.)
• Survival Benefit Option: Regular Income or Flexi Income.
• Mode of income (for display): Yearly or other frequency, if the calculator allows conversion of annual benefits into monthly figures. (Typical for user-friendly calculators.)
• Rider Options (optional): Selection of riders like Accidental Death & Disability Benefit, if the calculator supports approximate rider premiums.​

Some advanced calculators may also ask for expected holding period, discount rate, or inflation assumption if they show present value analysis, but this is not mandatory for basic premium and benefit calculation. (Concept-level note based on financial calculator practices.)

Outputs You Get from LIC Jeevan Utsav 883 Calculator

Once you enter the required details and click “Calculate,” the calculator typically generates the following key outputs (illustrative list): (Generic structure based on standard LIC plan illustrations.)

• Estimated Single Premium: Approximate one-time premium payable for the selected Basic Sum Assured and age, excluding taxes.​
• Total Guaranteed Additions: Approximate total guaranteed additions earned at ₹40 per ₹1,000 of Basic Sum Assured over the guaranteed addition period.
• Regular Income or Flexi Income Amount: Approximate yearly survival income you may receive after the guaranteed addition period under the chosen option.​
• Approximate Maturity Benefit (if applicable): The higher of Basic Sum Assured or 1.25 times tabular single premium plus guaranteed additions, if the plan defines a maturity condition.​
• Approximate Death Benefit: Higher of Basic Sum Assured or 1.25 times of tabular single premium plus accrued guaranteed additions.​

Some calculators also provide simple benefit summary tables for different possible ages or sum assured values to help compare scenarios. (Standard approach on many financial planning sites.)

Basic Logic Behind LIC Jeevan Utsav 883 Calculator

The calculator’s formulas are based on the core plan features defined by LIC in the official brochure and policy document. In simplified form, the logic usually follows these steps:

1. Single Premium Estimate
   • The calculator uses age, Basic Sum Assured, and sometimes gender to apply tabular single premium rates (approximate or derived) to compute the single premium.​
   • Single Premium (excluding taxes) ≈ Rate × Basic Sum Assured. (Generic multiplicative logic used in life insurance premium calculation.)
2. Guaranteed Additions
   • Guaranteed additions are calculated as: Guaranteed Addition per year = Basic Sum Assured × 40 / 1000.
   • Total Guaranteed Additions = Guaranteed Addition per year × Number of years in guaranteed addition period.​
3. Sum Assured on Death
   • Sum Assured on Death = higher of Basic Sum Assured or 1.25 × Tabular Single Premium.​
   • Death Benefit = Sum Assured on Death + Accrued Guaranteed Additions, payable on death after commencement of risk.​
4. Sum Assured on Maturity (if described)
   • Sum Assured on Maturity = higher of Basic Sum Assured or 1.25 × Tabular Single Premium.​
   • Maturity Benefit = Sum Assured on Maturity + Accrued Guaranteed Additions.​
5. Survival Income (Regular or Flexi)
   • Regular Income: Calculator estimates a fixed percentage of Basic Sum Assured paid every year after the guaranteed addition period, as defined in the brochure.​
   • Flexi Income: Calculator estimates income amounts that can be taken later with an additional interest component (for example, a flexi income may grow at a specified p.a. rate, such as 5.5% compounded annually, as referenced in some descriptions).​

Actual detailed rates, exact survival benefit percentages, and flexi income interest treatment must be taken from the official LIC brochure for accuracy.

How to Use LIC Jeevan Utsav Single Premium 883 Calculator Step by Step

Using a LIC Jeevan Utsav Single Premium Plan 883 calculator is usually simple. A typical step-by-step process is as follows (example flow based on standard LIC calculators):

1. Open the calculator page on a trusted website (for official premium indications, prefer LIC website or well-known insurance portals).
2. Enter your age (years completed), making sure it lies between 30 days (rounded to 1 year in many tools) and 65 years.
3. Enter your desired Basic Sum Assured; ensure it is at least ₹5,00,000.
4. Select survival benefit option: Regular Income or Flexi Income.​
5. Choose whether you want riders included if the calculator supports them.​
6. Click on “Calculate” or similar button.
7. View the output showing:
   • Estimated single premium.
   • Approximate annual income (Regular or Flexi).
   • Total guaranteed additions over the guaranteed addition period.
   • Approximate death/maturity benefit figures as per plan conditions.​

Always remember that calculator results are generally illustrative and may not match the exact premium quoted by LIC at the time of purchase because of GST, underwriting extra, or rider costs.

Important Benefits of LIC Jeevan Utsav Single Premium Plan 883

Some major benefits which make this plan attractive are:

• Lifelong Income and Risk Cover: The plan provides guaranteed lifelong income along with whole life protection, making it suitable for those seeking stable income and security.
• One-Time Payment: Single premium structure eliminates the burden of annual or monthly premium payments in the future.
• Guaranteed Additions: Guaranteed additions of ₹40 per ₹1,000 Basic Sum Assured during the guaranteed addition period enhance the overall value of the policy.
• Flexibility in Survival Benefits: Choice between Regular Income and Flexi Income allows customization as per the policyholder’s cash flow needs.​
• Riders and Loan Facility: Optional riders offer extra protection, while loan facility provides liquidity against the policy when needed.​
• Tax Benefits: Premiums and benefits may be eligible for tax benefits under prevailing Income Tax laws, subject to conditions.​

For detailed tax rules, users should refer to official government notifications or consult a tax advisor, as tax laws can change.​

Who Should Consider LIC Jeevan Utsav Single Premium 883?

This plan may suit individuals looking for a combination of safety, guaranteed income, and one-time payment convenience. Profiles that may find it useful include:

• Retirees or near-retirees wanting a safe, guaranteed lifelong income after investing a lump sum.​
• Salaried professionals or business owners with surplus funds looking for a long-term, low-risk savings-cum-protection option.​
• Parents/grandparents who want to invest once for long-term protection and income for the family.​

However, it is not a high-return market-linked product; conservative investors who prioritize safety and guaranteed income over high growth are more likely to benefit.

How to Access Official Documents and Premium Details

To ensure accuracy of your calculations and understanding, always cross-check with official LIC sources:

• LIC official Jeevan Utsav Single Premium information (Hindi page):
  https://licindia.in/hi/lic-s-jeevan-utsav-single-premium​
• LIC general Jeevan Utsav page and brochure links (for base model reference):
  https://licindia.in/lic-s-jeevan-utsav1​
• LIC press release for launch details:
  https://licindia.in/press-release (look for 06.01.2026 press release on Jeevan Utsav Single Premium Plan No. 883)

These links provide official brochures, policy documents, and sometimes illustrative premium charts that can be used to fine-tune any external calculator or manual calculations.

FAQ

Final Notes and Disclaimer

LIC Jeevan Utsav Single Premium Plan 883 with UIN 512N392V01 is a newly launched product (launch date 6 January 2026, available from 12 January 2026) that offers guaranteed lifelong income and risk cover through a one-time premium payment. A LIC Jeevan Utsav 883 Calculator helps users quickly estimate premium, guaranteed additions, and income benefits, but final numbers are always subject to LIC’s official quotation and underwriting.

Before buying, users should:

• Read the official brochure and policy document carefully.
• Confirm all benefits, conditions, and charges with LIC or an authorized agent.
• Review tax implications with a qualified tax professional.​

For the most accurate and updated information, the best sources remain the official LIC website and its published documents.