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LIC Jeevan Pragati Plan (Plan no.838)
A Regular Premium paying, Non-linked, Conventional with-profits Endowment Assurance plan
This plan offers an automatic increase in risk cover by 25% of Sum Assured, after every 5 years during the term of the policy
| Eligibility Conditions & Restrictions | ||
|---|---|---|
| Minimum age | : | 12 years (Completed) |
| Maximum age | : | 45 years |
| Maximum maturity age | : | 65 years |
| Policy Term | : | 12 years to 20 years |
| Minimum Sum Assured | : | Rs. 1,50,000 |
| Maximum Sum Assured | : | No limit |
| Premium payment | : | Yearly / Half yearly / Quarterly / Monthly (Thru bank) |
| Loan | : | Eligible after 3 years |
| Surrender | : | Eligible after 3 years |
| On Death | : |
During 1st Five years - 100% of Sum Assured + Bonus During 6th to 10th Policy years - 125% of Sum Assured + Bonus During 11th to 15th Policy years - 150% of Sum Assured + Bonus During 16th to 20th Policy years - 200% of Sum Assured + Bonus |
| On Maturity | : | Sum Assured + Bonus |
| Income Tax Benefits | : |
(i) Premiums paid are eligible for Tax rebate u/s 80c (ii) Maturity amount / Death claim is Non-taxable u/s 10(10d) |
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