LIC Deposit Scheme: On one hand, a fund of Rs 28 lakh can be accumulated by saving Rs 200 every day, while on the other hand, those who invest in this plan also get risk cover. The minimum age limit for investing in this scheme of LIC has been fixed at 12 years.
LIC scheme: The country’s largest insurance company, Life Insurance Corporation of India (LIC), offers new plans for everyone from children to the elderly. This scheme gives small savings as well as strong returns. Today we are going to tell you about one such great scheme. This is LIC’s Jeevan Pragati policy. In this scheme, you can get Rs 28 lakh by saving Rs 200 every day.
This policy is for 12 to 45 years
If you are planning to buy a policy, then this policy can prove to be a better option for you. Investors get many great benefits in LIC Jeevan Pragati plan. On one hand, a fund of Rs 28 lakh can be accumulated by saving Rs 200 every day, while those investing in this plan also get risk cover. The minimum age limit for investing in this scheme of LIC has been fixed at 12 years, while the maximum is 45 years.
How can you deposit a fund of 28 lakhs?
People who take this special Jeevan Pragati policy of Life Insurance Corporation of India get lifetime security along with good returns. If we look at the calculation of the fund deposited under this policy, if any policy holder invests 200 rupees every day in this policy, then he invests 6000 rupees in a month. In this way, 72,000 rupees will be deposited in a year. Now if you deposit in this scheme for 20 years, you will invest a total of 14,40,000 rupees. If all the benefits are added, this amount will be 28 lakh rupees.
Risk cover will increase every five years
The specialty of LIC Jeevan Pragati plan is that the risk cover of investors increases every five years. This means that the amount you get increases in five years. In death benefits, after the death of the policyholder, the insurance amount, simple reversionary bonus and final bonus are paid together.
How does the coverage increase?
The term of Jeevan Pragati policy is minimum 12 years and maximum 20 years. People from 12 years to 45 years can buy this policy. You can pay the premium of this policy on quarterly, half-yearly and yearly basis. The minimum sum assured of this policy is Rs 1.5 lakh and there is no maximum limit. Suppose someone buys a policy of Rs 2 lakh, then its death benefit will remain normal for the first five years. After this, the coverage will become Rs 2.5 lakh for six to 10 years. At the same time, the coverage will increase to Rs 3 lakh in 10 to 15 years. In this way the coverage of the policyholder will increase.
