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)