LIC Jeevan Pragati Plan: Such a policy of LIC that will easily get you 28 lakh rupees, that too on a saving of Rs 6000 every month. The nominee gets a substantial amount in the form of death benefit. Know in detail…
LIC Jeevan Pragati Plan: There are many plans of LIC, in which one can become a millionaire on maturity by depositing a few rupees. Not only this, LIC’s schemes also provide insurance cover to the insured. If something untoward happens to the depositor, he leaves the world, then his nominee gets the full benefit of insurance. Every penny of maturity is paid to him. In this there is a scheme named LIC Jeevan Pragati Plan.
In LIC Jeevan Pragati plan, if you want maturity of Rs 28 lakh, then you will have to deposit Rs 6000 every month or about Rs 200 per day. This cycle should go on for 20 years. If this much money is deposited continuously for 20 years, then 28 lakh rupees will be available. Apart from this money, the depositor will also get a risk cover. That is, if the depositor dies during the policy, then his nominee will get the policy money. The specialty of LIC Jeevan Pragati Plan is that its risk cover increases every 5 years. That is, the amount of money you get earlier, after 5 years, you get more.
Features of LIC Jeevan Pragati Plan
- This plan is a non-linked plan with savings and protection benefits. It is an individual plan in which a person has to take a plan
- One can choose from Yearly, Quarterly, Half-yearly and Monthly options for premium payment
- Policy Term- Minimum 12 years and Maximum 20 years
- Sum Assured, Final Additional Bonus (FAB) and Simple Revisional Bonus are paid on maturity (LIC maturity)
- You can deposit a minimum of Rs 1.5 lakh as sum assured and maximum as much as you want
What do you get in death benefit?
On Death Sum Assured, Final Additional Bonus (FAB) and Simple Revisionary Bonus are paid, which is added to all premiums paid. Sum Assured on death can be more than 10 times the annual premium (LIC premium). If the insured dies within 5 years of the policy, then the nominee will get 100% of the sum assured. If death occurs within 6-10 years then the insured gets 125% of the sum assured, if death occurs within 11 to 25 years of the policy, 150% of the sum assured and if death occurs within 16 to 20 years of the policy, then the nominee gets You will get 200 times the sum assured.
Understand in easy language
As the name of this plan is, so is the work. As the term of the policy increases, so does the accumulation of capital. Understand it in simple language. Let’s say 25 year old Rajasekhar has bought LIC Jeevan Pragati Plan for a policy period of 20 years. Rajasekhar has bought this policy with a premium of 3 lakhs and has kept the premium term monthly. In this way, they will have to pay a premium of Rs 1240 every month (LIC premium).
This is a policy in which the sum assured of 3 lakhs goes up to 6 lakhs in the event of death of the insured. It increases according to the term of the policy. If Rajasekhar pays a premium of Rs 1240 every month, then he will get Rs 3 lakh of Basic Sum Assured on maturity (LIC maturity), Rs 2.46 lakh of revisionary bonus, Rs 21 thousand as final additional bonus. In this way, Rajasekhar will get a total of Rs 5.67 lakh. If Rajasekhar deposits Rs 6000 as installment every month, then he will easily get Rs 28 lakh in 20 years.
