Are you looking for ways of wealth creation that will give you security and also protect the future of your family? LIC Jeevan Pragati Plan is a smart investment wherein the life insurance cover combines with higher returns. All this translates into a series of investments that will create a solid corpus for you in the long term.
Reasons to Choose the LIC Jeevan Pragati Plan
LIC has built a reputation that stands tall for more than a few decades, offering safe and rewarding investment plans. The Jeevan Pragati Plan is offered for those people who want stability when it comes to some extra cash and financial uplifts. An investment in this scheme with disciplined saving can yield ₹28 lakhs for you in 20 years and also provide you with life cover benefits.
How Does the LIC Jeevan Pragati Plan Work?
From small beginnings to big, this is how this policy works. Invest ₹200 daily (or ₹6,000 per month or ₹72,000 annually) and see your little investment grow into a huge corpus in 20 years:
- Total Contributions Over 20 Years: ₹14.4 lakhs
- Projected Maturity Value: ₹28 lakhs, including bonuses and benefits.
The plan ensures increasing the Sum Assured automatically every five years for better financial security with increasing passage of time.
LIC Jeevan Pragati Plan’s Salient Features and Benefits
- Life Insurance- Covering contingency risk against grievous occurrences for your near and dear ones.
- Guaranteed Returns with Bonuses- Bonuses on top of the Sum Assured.
- Limited Premium Payment Term- Paying premiums for a fixed period and availing benefits actively for life.
- Loan Facility- Get loans against your policy for any emergent need.
- Tax Benefits- Tax deductions under Section 80C (premium payments) and exemption under Section 10(10D) (maturity proceeds).
Who Can Invest?
- Age Group: 12 to 45 years
- Nationality: Indian citizens
- Best For: Young professionals, parents planning for their children’s future, or anyone seeking long-term wealth creation.
Frequently Asked Questions (FAQs)
Q1. What is the minimum investment required?
You can start with as little as ₹200 per day (₹6,000 monthly).
Q2. What happens if the policyholder passes away during the term?
The nominee receives the Sum Assured + accrued bonuses as a death benefit.
Q3. Are there tax benefits under this plan?
Yes, premiums qualify for tax deductions under Section 80C, and maturity benefits are tax-free under Section 10(10D).