LIC Jeevan Pragati Scheme: If you are also thinking of investing in any LIC policy, then it is important to know about this plan. We are telling you about such a plan of LIC, in which by investing Rs 200 per day, after 20 years you can create a huge fund of Rs 28 lakh. The specialty of this policy is that a pension of more than Rs 15,000 is also given in it. So let’s know everything about this special plan…
LIC Jeevan Pragati Scheme:
The name of this plan of LIC is Jeevan Pragati Scheme. The amount of Sum Assured you take in this policy progresses and by the end of the policy the Sum Assured goes up to almost two times. This is a non linked policy.
Know the benefits of the policy:
By investing in this plan for a short period, the policyholder gets many benefits.
- This is an endowment plan, which at the same time provides you with safety as well as savings.
- The risk cover in the policy increases every five years.
- The sum insured for the first five years remains the same.
- After this it increases from 25% to 125% from 6 to 10 years.
- For 11 to 15 years Sum Insured becomes 150%.
- For 16 to 20 years Sum Insured becomes 200% of Basic Sum Insured.
Death Benefit: If the policyholder dies during the policy term, the Sum Assured on Death + Simple Reversionary Bonus (Accrued Bonus) + Final Addition Bonus (if any) will be paid to his/her nominee.
That is, if you take a policy of 2 lakh sum insured, then coverage for death benefit is 2 lakh in the first five years, 2.50 lakh for 6 to 10 years, 3 lakh for 11 to 15 years and coverage for 16 to 20 years 4 lakh will be Rs. That is, the sum insured becomes double. Accidental Death and Disability rider is available under this, but for this an additional premium will have to be paid.
You will get 28 lakhs like this: Under this plan, you will be able to get a fund of about 28 lakhs after 20 years on the sum assured of 15 lakhs and the daily investment of Rs 200. It can have more or less.
LIC Jeevan Pragati Plan Terms:
- Age: 12 to 45 years
- Policy Term: 12 to 20 years
- Maximum age of maturity: 65 years
- Cover Amount Minimum Rs. 1,50,000
- No maximum limit
Surrender Value in LIC Jeevan Pragati Plan:
If the policy holder has paid the premium for 3 years, then he can surrender the policy and get the surrender value.
