If you are also thinking of investing in a policy of Life Insurance Corporation of India (LIC), then know about this plan. We are telling you about such a plan of LIC, in which by investing Rs 300 per day, after 20 years you can create a fat fund of Rs 30 lakh. A special feature of this policy is that a pension of Rs 18,000 is also given in it.
Life Insurance Corporation of India (LIC) The name of this plan is Jeevan Pragati Scheme. The amount of Sum Assured you take in this policy progresses and the Sum Assured goes up to two times by the end of the policy. This is a non linked policy.
In this policy of Life Insurance Corporation of India, if the policy holder dies during the policy term, then Sum Assured on Death + Simple Reversionary Bonus + Final Addition Bonus will be paid to his nominee.
If you take a policy of 4 lakh sum insured then coverage for death benefit 4 lakh in the first five years, 4.50 lakh for 8 to 12 years, 5 lakh for 14 to 17 years and coverage for 18 to 20 years 6 lakh will be Rs. That is, the sum insured becomes double. Accidental Death and Disability rider is available under this, but for this an additional premium will have to be paid.
If the policy holder has paid the premium for 3 years, then he can surrender the policy and get the surrender value.
There are also some conditions of LIC Jeevan Pragati plan in which age limit is 12 to 45 years and policy term is 12 to 20 years, maximum age of maturity: 65 years, cover amount minimum Rs 1,50,000