The main government insurance provider in the nation, Life Insurance Corporation of India (LIC), consistently offers just one kind of coverage to its customers. Children to seniors are covered under LIC Insurance Corporation’s policies. Any citizen may purchase a LIC policy. Your future can be guaranteed. The new LIC policy is as stated. This plan is known as Jeevan Pragati Plan.Any policyholder who contributes Rs 200 per day to the Life Insurance Corporation of India’s Jeevan Pragati plan would get Rs 28 lakh at maturity. Through this essay, we will give you information on the LIC Jeevan Pragati Plan today. So that you may provide your future with lifetime security by getting this coverage. As a result, you must carefully read this essay through to the finish.
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LIC Jeevan Pragati Plan 838
Life Insurance Corporation, an insurance provider, has introduced the LIC Jeevan Pragati Yojana. In a few years, the Jeevan Pragati Bima Plan may turn you into a billionaire. By making daily investments of Rs 200, you can receive up to Rs 28 lakhs at maturity with this plan. If you’re considering investing in LIC as well, the Jeevan Pragati Plan will thus turn out to be an excellent choice for you. With this policy, you will receive both life insurance and the advantage of risk. Because of this, investing in this policy will be secure. You will receive the death benefit after making consistent premium payments to the LIC Jeevan Pragati Policy. You receive greater earnings with assurance from this.
LIC JEEVAN PRAGATI PLAN
LIC Jeevan Pragati Plan Key Highlights
LIC Jeevan Pragati Plan
by Life Insurance Corporation of India
citizens who buy the policy
The death benefit on payment of regular premium
Minimum 12 Years and Maximum 20 Years
Central government scheme
Risk cover increases every 5 years
The LIC Jeevan Pragati policy is a risk cover that rises every five years, which implies that the amount you get increases every five years. Regarding the death benefit, the policy amount is handed to the investor’s family when the insurance holder passes away by adding the simple reversionary bonus and final bonus. The Jeevan Pragati policy from LIC has a term that ranges from 12 years to 20 years. The Jeevan Pragati plan is available for purchase by individuals between the ages of 12 and 45. This policy’s premium can be paid quarterly, semi-annually, or yearly. Jeevan Pragati Plan’s minimum sum assured is Rs. 1.5 lakh and there is no limit. The death benefit will continue to be paid as usual for the first five years if someone purchases insurance for Rs. 2 lahks. Following that, this benefit will be Rs 2.5 lakh for 6 to 10 years. The coverage will rise to Rs 3 lakh in the same 10 to 15 years. The policyholder’s coverage will be expanded in this way.
Get Rs 28 lakh in 20 years of investment
You may also obtain superb lifetime protection on your investment by purchasing the LIC Jeevan Pragati plan. If a policyholder contributes Rs 200 per day under this plan, then Rs 6,000 must be invested each month. This implies that you must invest Rs 72 000 per year. Additionally, if the policyholder invests in this plan for 20 years, they would receive a payout of Rs 28 lakh when the plan matures. Additionally, risk coverage will be offered. Jeevan Pragati policies can be initiated as early as age 12 whereby 45 years of age is the maximum investing age.
What are the features of LIC Jeevan Pragati Plan?
For a period of five years from the date the insurance was purchased, 100% of the Basic Sum Assured will be paid if you invest in the Jeevan Pragati plan.
If the policyholder passes away while the policy is in effect, 125% of the Sum Assured will be paid between 6 and 10 years later.
Between the ages of 11 and 15, 150%, and 16 and 20, 200% will be paid upon the death of the policyholder.
The Accident Benefit of Disability rider benefit will be provided to the policyholder throughout this plan.
The investor would receive Rs 28 lakh as the LIC Jeevan Pragati Plan’s maturity bonus.
Jeevan Pragati insurance policies from LIC have terms as long as 20 years, with a minimum term of 12 years.
The Jeevan Pragati plan is available to those between the ages of 12 and 45.
This policy’s premium can be paid quarterly, semi-annually, or yearly.
You must speak with the agent at the local LIC office before purchasing the plan. Additionally, after arriving there, you must declare your intention to participate in the LIC Jeevan Pragati Plan. The representative would next explain the terms of the LIC Jeevan Pragati plan to you. You must select the insurance between 12 and 20 years based on your preferences. The agent must then get all of your information and paperwork. The agent will then complete your application form after that. You will then have access to the LIC Jeevan Pragati Policy and be able to purchase the LIC Jeevan Pragati Plan Black.
Frequently Asked Questions
What is Jeevan Pragati Yojana?
LIC Jeevan Pragati Plan: You can collect 28 lakhs by investing Rs 200, know what is the scheme. By investing in this scheme, you get the benefit of risk along with life insurance. At the same time, by paying the premium regularly, you also get the death benefit under this plan. It keeps increasing every 5 years.
What if I stop paying the LIC premium after 3 years?
If you have paid the premium of LIC for the whole three years, then only you will get the surrender value. Surrendering the policy incurs huge losses. If you have paid the premium for 3 consecutive years then you are eligible for surrender value. After that, you get only 30% of the premium paid but excluding the first year’s premium.