Top News

Life Insurance Corporation of India (LIC) has always attracted investors with its reliability and better plans. If you are also thinking of investing in a great policy offered by LIC, then the Jeevan Pragati policy can be a great option for you. This policy not only provides you great returns but also assures lifelong security. The special thing is that by saving Rs 200 every day in LIC Jeevan Pragati policy, you can deposit a fund of up to Rs 28 lakh.
Suitable policy for 12 to 45 years
LIC Jeevan Pragati policy is specially designed for people between the ages of 12 to 45 years. Its main objective is to benefit those investors who want to achieve big financial goals with small savings. Under this policy, investors not only get better returns but they are also provided with lifetime security cover. In this, by saving Rs 200 every month, you can get a fund of Rs 28 lakh, which is a very attractive investment plan. How to deposit a fund of Rs 28 lakh?
Under the LIC Jeevan Pragati policy, by depositing just Rs 200 every day, you can create a large financial fund for your future. If you save Rs 200 every day, then in a month you will invest Rs 6000 and in a year this amount will become Rs 72,000.
In this way, by investing in this policy for 20 years, you will invest a total of Rs 14,40,000. After adding all the benefits, this amount can increase to Rs 28 lakh. Not only this, you get lifelong protection along with good returns from this policy.
Another feature of the LIC Jeevan Pragati policy is that the risk cover increases every five years. This means that as time goes by, the amount you get will also increase. If the policyholder dies, then the amount he gets is paid by adding a death benefit, simple reversionary bonus and final bonus. This plan not only gives financial security to the investors but also provides them with a strong security cover for life.
How does the coverage increase?
The term of LIC Jeevan Pragati policy can be a minimum of 12 years and a maximum of 20 years. In this policy, the policyholder has many options to pay the premium, such as on a quarterly, half-yearly or yearly basis. Apart from this, the minimum sum assured of the policy is Rs 1.5 lakh, while the maximum limit is not fixed.
In this policy, when the policyholder has invested for a specific period, the coverage also increases. For example, if someone has taken insurance of Rs 2 lakh, then his death benefit will remain normal for the first five years, but after that, the coverage will increase to Rs 2.5 lakh in the next five years and then it will become Rs 3 lakh in the next five years.