2. LIC has launched this new life insurance plan,
Table No. 838 on 3rd feb, 2016.
LIC’s Jeevan Pragati is a non linked, with profit
endowment assurance plan.
This plan offers a combination of protection and
In this plan, death sum assured automatically
increases after every five years during the term of
3. In addition, this plan also takes care
of liquidity needs through loan
Unique Identification number of
LIC’s Jeevan Pragati Plan is
5. In case of death of Life assured during the
policy term, a death benefit equals to “Sum
Assured on Death” along with Final
Additional Bonus (FAB) and vested simple
reversionary bonus whichever will be payable.
6. During the first five policy
100% of Basic sum Assured
: During 6th to 10th policy years 125% of Basic sum Assured
During 11th to 15th policy years 150% of Basic sum Assured
During 16th to 20th policy years 200% of Basic sum Assured
“Sum Assured on Death” is defined as the higher of-
10 times of annualized premium or
The absolute amount that is assured to be paid on
7. Death benefit mentioned previously will
not be less than the 105% of total premium
paid up to the death of life assured.
And another addition good thing is that
the insurance keep on increasing in this
8. "Sum Assured on Maturity" equal to
Basic Sum Assured, shall be payable in
lump sum on survival to the end of the
policy term provided all due premiums
have been paid, along with vested Simple
Reversionary bonuses and Final
Additional bonus, if any.
9. The policyholders are being provided with an
beneficial option of availing LIC's Accidental Death
and Disability Benefit Rider (UIN: 512B209V01).
This benefit can be opted with an additional amount
that is equal to the Accidental Benefit Sum Assured is
payable on death due to accident.
This is applicable still if the rider is in full force at the
time of the accident.
Rider sum assured cannot exceed the Basic Sum
10. After payment of full 3 years of premium
you may avail loan facility.
You have option to surrender this policy
after payment of full 3 years of premium.
With 2 years of FUP you may revive your
Taxes are applicable as per prevailing
11. Policy can be dated back in same
This policy allows to make
assignment and nomination.
Free look period of 15 days available
from date of receipt of the policy