LIC Life Progress Plan : If you are looking for such a LIC plan where you can raise a huge fund by investing less, then we would advise you to invest in LIC Jeevan Pragati Plan. Because this plan is available for a child of 12 years to a person of 45 years. In which the policy holder can invest in this scheme at the rate of Rs 200 every day and get a lump sum amount of about Rs 28 lakh on maturity. Your money will be safe in this plan because in this plan you get the benefit of investment growth along with life insurance coverage.
In this post, you will get detailed LIC Jeevan Pragati Plan You will get to know about the method and benefits of investing in LIC Jeevan Pragati Plan. If you are thinking of investing in LIC Jeevan Pragati Plan, then it will be important for you to know who can invest in this plan, what is its maturity date, how funds are collected in it, what is the risk cover and how the coverage increases. Therefore, for complete information about this, you must read the post completely.
What is LIC Jeevan Pragati Plan 2024?
LIC Jeevan Pragati Plan The country’s largest insurance company Life Insurance Corporation of India (LIC) has a special plan which returns a fund of up to Rs 28 lakh on maturity to the policy holder by investing ₹ 200 per day. If you are trying to raise a large fund through small savings, then we would advise you to opt for LIC Jeevan Pragati Plan.
This plan is available for everyone from children to the elderly, in which you can get a fund of up to Rs 28 lakh by investing ₹ 200 every day. On maturity, you can get a good amount of funds under this plan, so if you are planning to buy a policy then this is a better option for you.
Age Limit of LIC Jeevan Pragati Plan
LIC Jeevan Pragati Plan is a very good investment option for investors as it offers great benefits in which investors also get risk cover. Let us tell you that under this plan, one can invest from 12 years to a maximum of 45 years of age, that is, the minimum age limit of this plan is 12 years to a maximum of 45 years.
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How will funds be collected in LIC Jeevan Pragati Plan?
For your information, let us tell you that by investing in the Jeevan Pragati plan provided by the Life Insurance Corporation of India, the policy holder gets excellent returns and life time security. If we talk about how a fund of 28 lakhs is collected in it, then the policy holder invests ₹ 200 every day under this scheme.
Accordingly, ₹6000 is invested in the scheme every month and ₹72000 is invested annually. If you want to buy this plan for a period of 20 years, then you will have to invest approximately 14 lakh 40,000 rupees, on which you will get a total fund of 28 lakh rupees after adding all the benefits available under the plan.
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Risk cover will increase in LIC’s Jeevan Pragati plan
You should know that in LIC’s Jeevan Pragati plan, the risk cover increases every 5 years. This means that the amount you get will increase in 5 years. On the other hand, if we talk about death benefit, then after the death of the policy holder, the insurance amount, simple reversionary bonus and final bonus will be given to the nominee of the policy holder.
How does coverage increase in LIC’s Jeevan Pragati Plan?
The fact that you need to know is that the maximum maturity period of this plan is 20 years. However, you can take this policy for a minimum of 12 years to a maximum of 20 years. This policy can be purchased by people between the age of 12 years to 45 years and can pay its premium on quarterly, half-yearly and yearly basis. Let us tell you that the minimum sum assured of the policy is Rs 1.5 lakh and no maximum limit has been set for it. You can understand it from this example –
Suppose you have bought this policy for ₹ 2,00,000, then the death benefit will remain normal for the first 5 years, after this the coverage will be 2.5 lakh rupees for 6 to 10 years, while in 10 to 15 years the coverage will increase to 3 lakh rupees. In this way, the coverage of the policy holder will increase every 5 years.
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How to buy LIC Jeevan Pragati Plan?
To buy Jeevan Pragati Plan you need to contact your nearest LIC You will have to go to the office and contact the agent. After this, you will have to tell the agent that you are interested in buying LIC Jeevan Pragati Plan. After this, you will be provided with all the information related to Jeevan Pragati Plan and you will be asked to buy a plan ranging from 12 to a maximum of 20 years. You can buy the plan by selecting the maturity period as per your convenience, the premium of which can be paid quarterly, half-yearly or annually.