Best Selling LIC Plan

LIC New Jeevan Pragati 838

LIC's Jeevan Pragati (838) 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.

jeevan pragati

Key Features of LIC New Jeevan Pragati

  • LIC Jeevan Anand is a Endowment plan with increasing life cover.
  • The increasing risk cover is an important feature of the plan that provides adequate risk cover against inflation.
  • Maturity benefit is Sum Assured + Final Additional Bonus and Revsionary bonus.
  • Death Sum Assured is 100% during first 5 years.
    125% of sum assured during 6th to 10th year.
    150% of sum assured during 11th to 15th year.
    200% of sum assured during 16th to 20th year.
  • Policy holder can take a loan against the policy after paying a premium for three years.

This is an Endowment plan with increasing life cover with the option of paying a premium monthly, quarterly, biannually or annually.

Premiums paid towards New Jeevan Pragati is eligible for Tax rebate under Section 80C each year upto Rs.1,50,000. The Maturity/ Death claim paid under Jeevan Pragati is 100% Tax-free under Section 10(10d). Contact Us to buy a new LIC Policy in Bangalore.

Eligibility Conditions And Restrictions

  • Minimum Age : 12 Years Completed
  • Maximum Age : 45 years
  • Maximum Maturity Age : 65 years
  • Policy Term : 12 years to 20 years
  • Minimum Sum Assured : Rs,1,50,000
  • Maximum Sum Assured : No limit
  • Premium Payment : Yearly/Half yearly/Quarterly/Monthly/(Through Bank)
  • Loan : Eligible After 3 years
  • On Maturity Sum Assured + Bonus Payable