Plan :Jeevan Pragati (938)
LIC's Jeevan Pragati(938) is a non-linked, with profits Endowment Assurance Plan wherein the risks cover automatically increases after every five years during the term of the policy.

Premium Payment Mode:
Yearly, Halfly, Quarterly, Monthly(NACH)/ SSS

Term :
12 to 20 years

Minimum Entry Age :
12 Year Completed

Maximum Entry Age :
45 Year (Nearest Birthday)

Maximum Maturity Age :
65 Year

Minimum Sum Assured :
1,50,000

Maximum Sum Assured :
♦ NO LIMIT (Depending upon Income)
♦ Maximum Accidental Death and Disability Benefit Rider up to age 65.

Policy Benefits :
On Death :
♦ Sum Assured on death + Vested Bonus + FAB if any.
♦ Where 'S.A. on Death' is defined as the higher of
i. 10 times of Anualized Premium, OR
ii. Absolute amount assured to be paid on death, which is as under:
♦ During first five policy years: 100% of the Basic S.A.
♦ During 6th to 10th policy years: 125% of the Basic S.A.
♦ During 11th to 15th policy years: 150% of the Basic S.A.
♦ During 16th to 20th policy years: 200% of the Basic S.A.

This Death Benefit shall not be less than 105% of all Premiums paid as on death

On Survival :
On survival Basic Sum Assured + Vested Bonus + FAB if any.

Surrendered Value :
The Policy can be surrendered at any time during the policy term provided atleast 3 full years premiums have been paid.

Loan :
Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.

Income Tax Benefit :
♦ Premium paid under this plan is eligible for TAX rebate under section 80c.
♦ Maturity under this plan is free under sec 10(10D).