1. What is LIC's Jeevan Utsav Single Premium (Plan No. 883)?
LIC's Jeevan Utsav Single Premium (Plan No. 883) is a non_linked, non_participating, whole_life assurance plan.It is a one_time investment plan that provides lifelong guaranteed income and protection. Guaranteed Additions (GA) are added during a fixed GA period, and thereafter yearly income and lifetime cover continue for the life assured.

2. What are the key features of LIC's Jeevan Utsav Single Premium Plan?
Single premium payment you pay only once at the beginning of the policy.
Whole life cover: Risk cover continues till age 100 of the life assured.
Guaranteed Additions at a fixed rate during the chosen GA period (7 to 17 years). After the GA period, 10% of Basic Sum Assured is paid every year as Survival Benefit. On survival to age 100, a maturity benefit is payable in addition to the income already received.

3. What are the eligibility criteria for this plan?
Entry Age: As per product rules (minimum and maximum as per LIC circular).
Single Premium: Payable once at inception, subject to minimum and maximum premium limits.
Basic Sum Assured: Must be in the allowed multiples and within the allowable range for the plan.
GA Period: Can be chosen between 7 and 17 years (subject to age/term conditions given in the product brochure).
The proposer and life assured must satisfy LIC's financial and medical underwriting norms.

4. What happens if the life assured passes away?
If the life assured dies during the GA period: Death Benefit = Sum Assured on Death + accrued Guaranteed Additions, as per product rules.
If death occurs after the GA period has ended:Death Benefit = Sum Assured on Death + accrued Guaranteed Additions (as at end of GA period).
The yearly Survival Benefits already paid (10% of Sum Assured) are not deducted from the Death Benefit. The Death Benefit is payable to the nominee/beneficiary and the policy terminates thereafter.

5. What is the Survival Benefit under LIC�s Jeevan Utsav Single Premium Plan?
After completion of the chosen GA period, 10% of the Basic Sum Assured is paid every policy year. This yearly income continues till the earlier of death or maturity (age 100 of life assured). These Survival Benefits are over and above the Guaranteed Additions that were accrued during the GA period. The pattern of cashflows makes it suitable as a long_term income and legacy_creation plan.

6. How do Guaranteed Additions (GA) work under this plan?
Guaranteed Additions accrue only during the GA period selected at entry (between 7 and 17 years). GA rate: Rs. 40 per Rs. 1,000 of Basic Sum Assured per policy year of the GA period. No further GA accrues after completion of the GA period; thereafter only yearly Survival Benefits are payable. Accrued GA is added to the Death Benefit and is also included in the Maturity Benefit at age 100.

7. What riders are available with this plan? Yes, optional riders like Accidental Death and Disability Benefit (ADDB) and Term Assurance Rider can be added, subject to eligibility. Rider Sum Assured, entry age, and maximum cover limits will be as per LIC's rider rules. Riders enhance the protection by giving additional benefits in case of accidental death, disability, or additional term cover.

8. What is the Maturity Benefit under this plan? Maturity occurs when the life assured survives till age 100 years. On survival to age 100,
Maturity Benefit = higher of: Basic Sum Assured,
OR 125% of Tabular Single Premium plus the accrued Guaranteed Additions. This is in addition to the yearly Survival Benefits of 10% of Basic Sum Assured already received after the GA period.

9. How is the premium paid under this plan?
Single Premium: Paid once at policy inception, inclusive of applicable taxes. Mode: Single premium only no urther regular payments are required. The effective premium outgo is known upfront, making budgeeting easier.