Life Insurance Corporation of India which is shortly known as LIC is been launch the New LIC Plan of LIC Jeevan Pragati. This Jeevan Pragati LIC Plan is going to launch on 3rd February 2016 from LIC of India. Jeevan Pragati is Non Linked with profit endowment insurance plan which is similar to LIC Jeevan Labh. This LIC Jeevan Pragati Plan is the Third Plan of this New year 2016. Recently LIC has launched the LIC Jeevan Labh and LIC Jeevan Shikhar. One of the Best features of this Jeevan Pragati Plan is sum assured on death Increase automatically after 5 year of time from the term of policy. Check out below the Key features and Benefits of LIC Jeevan Pragati Plan of Table No. 838.
Key Features of LIC Jeevan Pragati Table 838
• Minimum Basic Sum Assured: Amount Rs. 1,50,000/-
• Maximum Age at Maturity for Life Assured: 65 years
• Maximum Basic Sum Assured: No Limit (Multiple of Rs. 10,000/- only)
• Minimum entry age for the rider is 18 years.
• Minimum Entry Age: 12 years (completed)
• Maximum Entry Age: 45 years (nearer birthday)
• Mode of Premium Payment: Yearly, half- yearly, quarterly & monthly
• Accidental Death & Disability Benefit Rider is available on payment of additional premium.
• Minimum Policy Term: 12 years
• Maximum Policy Term: 20 years
• Minimum Accident Benefit Sum Assured is Rs 10,000
• Maximum Accident Benefit Sum Assured is an amount equal to the Basic Sum Assured subject to the maximum of Rs 1 Cr.
Maturity Benefit of this New Plan Jeevan Pragati of Table no. 838
All the LIC agents and Customers want to know about this Policy Benefit what i Get ? Why this Policy is best let’s see. Maturity Benefit on Survival at the End of Policy term will be sum assured on the Maturity plus Simple Reversionary Bonus and also included Final Additional Bonus. The Sum Assured on Maturity is basic sum assured. Risk of this plan will be starting immediately from the policy issue date.
Jeevan Pragati LIC Plan Logo / HD wallpaper / Pictures
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Jeevan Pragati LIC Plan Death Benefit
If Policy Holder death before the policy maturity then let’s see how the calculation count. The Death Benefit shall be payable to the nominee of that policy holder. The Death Benefit will be sum assured on Death + vested simple Reversionary Bonus + Final Additional Bonus (if any) This Sum Assured Amount is automatically increase after 5 Year of Time. In other words risk of this policy of jeevan pragati are increase with time.
Sum Assured on Death is defined as the higher of 1) 10 times of annualized premium or (2) Absolute amount assured to be paid on death, which will be.
1) During the first five policy Years – 100% of the Basic Sum Assured.
2) During 6th to 10th policy Years – 125% of the Basic Sum Assured.
3) During 11th to 15th policy Years -150% of the Basic Sum Assured.
4) During 16th to 20th policy Years – 200% of the Basic Sum Assured.
This New Plan of Jeevan Pragati is going to launched on 3rd February Wednesday by LIC. Premiem Details of this LIC plan of Jeevan Pragati is not available so whenever information are available we updates it. Bookmark this page for future use.