Lic’s Jeevan Pragati Plan gives you the best saving and protection benefits for you and this plan is a non linked plan which increases risk cover after every five years at the time of the policy.
Min Basic Sum Assured: Rs 1,50,000
Max Basic Sum Assured: No Limit (Rs 10,000 Multiples only)
Min Policy Time: 12 Years
Max Policy Time: 20 Years
Min Entry Age: 12 years
Max Entry Age: 45 Years
Max Age at Maturity for Life Assured: 65 years
Premium Payment Mode: Monthly, Quarterly, Half- yearly, Yearly
The benefit of Accidental Death and Disability Rider is applicable on payment of additional premium.
Minimum Accident Benefit Assured: Rs 10,000
Min Entry Age for the Rider: 18 Years
Max Accident Benefit Sum Assured: the same amount to basic sum assured and max of Rs 1 crore
LIC’S JEEVAN PRAGATI PLAN BENEFIT
1 Survival Benefit: Basic Sum Assured + Vested Bonus +FAB if any
2 Death Benefit: all premium paid as in death the benefit will not less than 105%
Sum assured + vested bonus + FAB if any
Absolute assured amount to be paid on death or 10 times of annualized premium.
100% Basic Sum assured during first five policy years
125% Basic Sum assured during 6th to 10th policy years
150% Basic Sum assured during 11th to 15th policy years
200% Basic Sum assured during 16th to 20th policy years
3 Surrendered Value Benefit: the Policyholder can surrender his policy at any time during his policy term but the condition is that first three full years premium is paid.
4 Loan Benefit: After payment of premium for three full years than you can use loan facility.
5 Income Tax Benefit: Tax Rebate is available when you pay the premium under this plan section is 80c and under sec10(10D) maturity is free for this plan.