LIC introduces Jeevan Utsav – Single Premium Whole Life Plan
Life Insurance Corporation of India (Life Insurance Corporation of India) has introduced LIC’s Jeevan Utsav, a single premium, non-linked, non-participating whole life insurance plan, aimed at customers seeking long-term income certainty combined with life cover.
Jeevan Utsav is designed as a whole life plan with survival benefits, where the policyholder pays a one-time premium and becomes eligible for regular income benefits after a deferred period. The policy offers guaranteed annual payouts for a specified period, followed by lifelong income benefits, making it suitable for individuals planning stable post-retirement cash flows.
The plan provides financial protection for the entire lifetime of the policyholder. In the event of death, the nominee receives a death benefit comprising the sum assured along with accrued guaranteed additions, ensuring family security alongside income continuity during the insured’s lifetime.
A key feature of Jeevan Utsav is its flexibility in income commencement. Policyholders can choose the deferment period based on their financial planning needs, allowing income to start at a later stage when regular cash flows are most required. The plan also offers options to enhance coverage through riders, subject to eligibility and policy terms.
Being a non-linked and non-participating product, returns under Jeevan Utsav are not linked to market performance, offering predictability and insulation from market volatility. This makes the product particularly relevant for conservative investors seeking assured income with life cover.
With this launch, LIC continues to expand its portfolio of guaranteed income and whole life products, addressing the growing demand for certainty, longevity protection, and disciplined long-term financial planning among Indian households.
SBI Life launches savings plan with long-term guaranteed benefits
SBI Life Insurance has launched a new non-linked, non-participating savings insurance plan offering long-term guaranteed benefits, aimed at customers seeking certainty, disciplined savings, and financial stability over extended horizons.
The newly introduced plan is designed to provide assured returns along with life cover, making it suitable for individuals looking to balance protection with predictable savings outcomes. As a non-linked product, the benefits are not dependent on market performance, ensuring insulation from volatility and clarity on future payouts.
The plan offers guaranteed additions over the policy term, enhancing the maturity value and enabling policyholders to accumulate wealth systematically. Depending on the chosen policy structure, customers can opt for regular or limited premium payment options, allowing flexibility based on income patterns and financial planning goals.
In the event of the policyholder’s demise during the policy term, the nominee is entitled to receive the death benefit, providing financial security to the family. On survival till maturity, the policy delivers a guaranteed maturity benefit, supporting long-term goals such as retirement planning, children’s education, or wealth preservation.
The product is particularly relevant in the current environment of interest rate uncertainty and market fluctuations, where customers increasingly prefer guaranteed outcome-based solutions. It also caters to risk-averse investors who prioritise capital protection and stable returns over market-linked growth.
With this launch, SBI Life continues to strengthen its portfolio of guaranteed savings products, aligning with evolving customer preferences for certainty, transparency, and long-term financial planning.
