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Jeevan Pragati Plan (Table No. 838)

LIC's Jeevan Pragati (Table No- 838) is a non-linked, with – profits endowment plan. Jeevan Pragati endowment plan provides an attractive fusion of protection and saving features.Jeevan Pragati provides the automatic increase in risk cover after every 5 years during the term of the Insurance policy.This plan can be suitable for a person who is looking for a saving as well as adequate risk cover as protection for his/her family with LIC.

Key Features of Jeevan Pragati Plan:

Jeevan Pragati is a combination of Protection and savings need.

Automatically increases Life Cover after every five years during the term of the policy

Premium paid is eligible for rebate under 80(C)

Maturity amount will be tax free under 10(10D

Jeevan Pragati Plan Eligibility Criteria
Minimum Age at Entry 12 Years (Completed)
Maximum Age at Entry 45 Years(Nearest Birthday)
Maximum Maturity Age 65 Years(Nearest Birthday)
Policy Term 12 Years to 20 Years
Minimum Sum Assured 1,50,000/-
Maximum Sum Assured No Limit (sum assured multiple in 10,000/-)
Policy Mode Yearly, Half-Yearly, Quaterly, Monthly (NACH only)
Rebate Of Mode Of Premium Yearly-2%
Quaterly & Monthly-Nil
High Sum Assured Rebate
(per thousand)
1,50,000 to 2,90,000 -- Nil
3,00,000 to 4,90,000 -- 1.5% on B.S.A.
5,00,000 to 9,90,000 -- 2% on B.S.A.
10,00,000 and Above -- 2.25% on B.S.A
Loan After payment of premiums for at least 3 full years
Surrender Allowed after 3 year
Revival Within 2 Years of lapse

Maturity Benefit:

On completion of policy term, Sum Assured + Bonus + Final Addition Bonus (FAB) will be paid as maturity.

Death Benefit:

In case of death during policy term, Death Sum Assured + Bonus + Final Addition Bonus (FAB) will be paid as Death claim to Policy holder's nominee.

The Sum assured on death automatically rises every five years. Where “Sum Assured on Death” is defined as the higher of the following.

10 times of annualized premium.

Absolute amount assured to be paid on death, which is as follows.

During the first five policy year: 100% of the Basic Sum Assured.

During 6th to 10th policy year: 125% of the Basic Sum Assured.

During 16th to 20th policy year: 200% of the Basic Sum Assured.

Optional Rider:

Accidental Death and Disability Benefit Rider is available with this plan as rider which can attached with Jeevan Pragati plan (838) to make more essential plan in case of an accident or disability during the policy term.

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