LIC Launches Jeevan Utsav: Lifelong Income, Single Premium Plan & Lapsed Policy Revival

• LIC introduces "Jeevan Utsav Single Premium" plan, offering lifelong income and life cover with a one-time payment.
• The non-linked, non-participating plan provides guaranteed additions of Rs 40 per Rs 1,000 sum assured annually.
• Policyholders can choose regular income (10% of sum assured) or flexi income with 5.5% annual interest on deferred payments.
• Available for ages 30 days to 65 years, with a minimum sum assured of Rs 5 lakh, loan facility, and optional riders.
• LIC also announces a revival drive (Jan 1 - Mar 2, 2026) for lapsed policies, offering up to 30% late-fee concession.

Why It Matters: LIC unveils a new single-premium plan for lifelong income and a revival drive for lapsed policies.