The LIC Jeevan Pragati plan gives the combination of many benefits. The main feature of this plan is that it gives saving and protection both in same plan. This plan can be extended by adding accident and disability premiums.
Description of Jeevan Pragati plan
This plan provides the combination of benefits which should be known by the buyers that ,The buyer have his own choice to choose the policy premium turns as per his requirement so that he can pay the premium without feeling at every turn. The day from the policy start the buyer will be eligible for life coverage known as basic sum assured for first 5 years there is coverage of hundred percent of basic sum assured after Age 5 year the plan the sum assured at coverage increases by certain percent, Such as after 6 to 10 year the sum of coverage will be 1 25% and from the 11 to 15 year that is coverage provided will be 150% of basic sum assured along with this buyers can add accidental plus disability coverage in this Insurance Scheme.
Features and eligibility criteria of LIC Jeevan Pragati plan are following :
The key features of this plan is listed as below:
- The minimum basic sum that can be assured is rupees 1,50,000/-
- The maximum basic sum that can be assured, There is no limit you can extend the basic sum as much you want.
- Minimum number of turns of policy is 12 years
- Maximum year of policy term is 20 years
- Minimum age eligible for the Jeevan Pragati plan is 12 year
- Maximum age eligible for Jeevan Pragati plan is 45 years
- Maximum age at the time of maturity till life assured is 65 year
- Accident death and disability benefit is available only for the additional premium
- Minimum accident benefit sum that can be assured is rupees 10,000/-
- Maximum accident benefit sum that can be assured will be the amount equal to the basic sum subjected to maximum of Rupees 1 cr.
- Minimum age for the entry additional coverage is 18 years
Benefits of LIC Jeevan Pragati plan
On the occasion of death of the assured person during the policy term the death benefit will be the assured sum + reversionary bonus + final additional bonus will be payable to the nominee. The sum assured will increase automatically after every 5 years
In Jeevan Pragati plan in case of survival of the life assured till the end of the term. The maturity benefit will be sum assured on maturity + reversionary bonus + final additional bonus that will be payable to the policy holder.