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LIC Policy: If you are looking for such a LIC scheme where you can raise a large fund by investing less, then we would advise you to invest in LIC Jeevan Pragati Yojana. Because this scheme is available for a child of 12 years to a person of 45 years. In which the policyholder can get a lump sum amount of about Rs 28 lakh on maturity by investing in this scheme at the rate of Rs 200 every day. Your money will be safe in this scheme, because in this scheme you also get the benefit of investment growth along with life insurance coverage.

In this post, you will know in detail about the ways 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 scheme, 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 it, you should read the post completely. What is LIC Jeevan Pragati Plan 2024?

LIC Jeevan Pragati Yojana is a special scheme of the country’s largest insurance company Life Insurance Corporation of India (LIC), which returns a fund of up to Rs 28 lakh to the policyholder on maturity at the rate of investment of ₹ 200 per day. If you are trying to raise a big fund through small savings, then we would advise you to choose LIC Jeevan Pragati Yojana.

This scheme 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 under this scheme, 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 Yojana 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 scheme, you can invest from 12 years to a maximum of 45 years of age, that is, the minimum age limit of this scheme is from 12 years to a maximum of 45 years.

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 this, then under this scheme the policy holder invests ₹ 200 every day.

According to this, ₹6000 is invested every month in the scheme and in this sense, ₹72000 is invested annually. If you want to buy this plan for a period of up to 20 years, then you will have to invest about Rs 14 lakh 40,000, on which you will get a total fund of Rs 28 lakh by adding all the benefits available under the plan.

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 benefits, then after the death of the policy holder, the sum assured, simple reversionary bonus and final bonus will be given to the nominee of the policy holder.

How does the coverage increase in LIC’s Jeevan Pragati Plan?

You need to know that the maximum maturity of this plan is 20 years. However, you can take this policy for a minimum of 12 years to a maximum of 20 years. People from the age of 12 to 45 years can buy this policy 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 fixed for it. You can understand this from this example-

Suppose you have bought this policy for ₹ 2,00,000, then the death benefit will be normal for the first 5 years, after this the coverage will be Rs 2.5 lakh for 6 to 10 years, while in 10 to 15 years the coverage will increase to Rs 3 lakh. In this way, the coverage of the policyholder will increase every 5 years.