Investors can avail benefits of Rs 28 lakh by investing Rs 200 per day (Rs 200 per day) in LIC Jeevan Pragati plan. LIC Jeevan Pragati plan not only provides death risk cover to the investors but also complies with the regulations of Insurance Regulatory and Development Authority of India (IRDA).
How to raise Rs 28 lakh fund:
Under this scheme with a sum insured of Rs 15 lakh and a daily investment of Rs 200, you will get a fund of around Rs 28 lakh after 20 years. It can be more or less. In this policy, the sum insured you take increases and the sum insured almost doubles by the end of the policy. This is a non-linked policy.Also Read: Raksha Bandhan 2021: Tie rakhi at this time can be heavy, know Shubh Muhurat
What are the other benefits:
It is an endowment plan, which provides security and savings at the same time. The risk cover in the policy increases every five years. The sum assured remains the same for the first five years. After 6 to 10 years it increases from 25% to 125%. Sum Assured is 150% for 11 to 15 years. Sum Assured is 200% of Basic Sum Assured for 16 to 20 years. In case the policyholder dies during the policy term, the Sum Assured + Simple Reversionary Bonus (Additional Bonus) + Final Additional Bonus (if any) is paid to his nominee.Also Read: The customers of this bank are getting the benefit of 2 lakh rupees for free, know how to take advantage
Who can avail the scheme:
>> Anyone above 12 years of age can invest in LIC Jeevan Pragati Policy.
>> The maximum age for this scheme is 45 years. Also you have to invest for at least 12 years.
>> The policyholder can invest for a maximum tenure of 20 years.
