If you want a steady monthly income after retirement along with lifelong insurance protection, LIC Jeevan Utsav Policy is emerging as one of the most talked-about plans. This whole-life, guaranteed-income policy allows you to receive ₹15,000 per month for life, provided you choose the right Sum Assured and premium terms. The plan has gained popularity because it offers predictable income and long-term security at a time when most people seek stability in retirement.
What Is LIC Jeevan Utsav Policy?
LIC Jeevan Utsav is a non-linked, non-participating, whole-life savings-cum-income plan. It combines insurance coverage with a guaranteed survival benefit that lasts for your entire lifetime. Once you complete the premium-paying years, LIC starts paying you a fixed annual income every year, which can be taken monthly.
How to Get ₹15,000 Per Month from LIC Jeevan Utsav
To receive ₹15,000 per month for life, you must choose a Basic Sum Assured of around ₹18 lakh.
This works because LIC provides 10% of the Basic Sum Assured every year as income.
- 10% of ₹18,00,000 = ₹1,80,000 per year
- ₹1,80,000 ÷ 12 = ₹15,000 per month
Your income begins after you finish paying premiums for your selected Premium Paying Term (5 to 16 years), depending on the option you choose.
Two Income Options Under the Policy
LIC gives two choices for receiving benefits, depending on your financial goals.
Regular Income Benefit
After completing the premium payment term, LIC starts sending fixed annual income for your lifetime. You can withdraw monthly, quarterly or yearly.
Flexi Income Benefit
If you do not need income immediately, you can defer the payouts. LIC will accumulate your income at a fixed interest rate of about 5.5% per year. You can withdraw anytime later, which helps build a bigger fund.
Key Features You Should Know
The Jeevan Utsav policy offers several guaranteed benefits:
- Lifetime Income after the premium-payout period
- Guaranteed Additions of ₹40 per ₹1,000 Sum Assured during the premium paying term
- Flexible premium payment options for 5, 7, 10, 12 or 16 years
- Loan facility available after certain conditions
- Whole-life insurance coverage for the policyholder
- High Sum Assured rebates, which reduce premium amounts for larger policies
Eligibility Criteria
To apply for LIC Jeevan Utsav:
- Minimum entry age: 90 days (varies by variant)
- Maximum entry age: 65 years
- Minimum Basic Sum Assured: ₹5 lakh
- No upper limit on maximum Sum Assured (subject to medical and underwriting rules)
Is This Policy a Good Choice?
LIC Jeevan Utsav is best suited for individuals who want:
- A fixed monthly income
- Whole-life insurance protection
- Low-risk, guaranteed returns
- Predictable financial support after retirement
While market-linked investments may offer higher returns, Jeevan Utsav provides stability, certainty and lifelong income — something most retirees value the most.
Conclusion: LIC Jeevan Utsav Policy is a strong retirement-oriented plan that can provide you ₹15,000 every month for life if you choose the right Sum Assured. With guaranteed additions, flexible premium options and lifelong security, it becomes a useful choice for those who prefer assured income over market-linked uncertainty.
Disclaimer: Policy benefits depend on your Sum Assured, premium term and age. Always review the official LIC brochure and consult a financial advisor before buying.
