LIC's Jeevan Pragati Plan Overview
LIC's Jeevan Pragati Plan is a non-linked, with-benefits plan that offers a mix of insurance and savings. This plan provides an automatic increase in risk cover at regular intervals during the policy term. Additionally, this plan addresses liquidity needs through a loan facility.
Advantages
Death Benefit: In the event of death during the policy term, provided all due premiums have been paid, the death benefit, defined as the sum of "Aggregate Assured on Death," vested Simple Reversionary Bonuses, and Final Additional bonus, if any, will be payable. "Aggregate Assured on Death" is defined as the higher of multiple times the annualized premium or the absolute sum guaranteed to be paid on death. For example, it is 100% of the Basic Sum Assured during the initial 5 policy years, 125% during the sixth to tenth policy years, 150% during the eleventh to 15th policy years, and thereafter 200% of the Basic Sum Assured. This death benefit will not be less than 105% of all the premiums paid as of the date of death. Premiums referred to above will exclude any taxes, an additional sum chargeable under the policy due to underwriting decisions, and rider premium, if any.
Maturity Benefit: "Total Assured on Maturity," equal to the Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional bonus, if any, will be payable in a single amount upon survival at the end of the policy term, provided all due premiums have been paid. Know about LIC term plans lic term plans
Interest in Profits
The policy will participate in the profits of the Corporation and will be eligible to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in force. The Bonuses will be declared on the Basic Sum Assured. A Final Additional Bonus may also be declared under the policy in the year when the policy results in a claim either by death or maturity.
Optional Rider
The policyholder has the option of availing LIC's Accidental Death and Disability Benefit Rider (UIN: 512B209V01). The rider sum assured cannot exceed the Basic Sum Assured. For more details on the above riders, refer to the rider leaflet or contact LIC's nearest Branch Office. Know about LIC life insurance plans lic life insurance plans
From India, Mumbai
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LIC's Jeevan Pragati Plan is a non-linked, with-benefits plan that offers a mix of insurance and savings. This plan provides an automatic increase in risk cover at regular intervals during the policy term. Additionally, this plan addresses liquidity needs through a loan facility.
Advantages
Death Benefit: In the event of death during the policy term, provided all due premiums have been paid, the death benefit, defined as the sum of "Aggregate Assured on Death," vested Simple Reversionary Bonuses, and Final Additional bonus, if any, will be payable. "Aggregate Assured on Death" is defined as the higher of multiple times the annualized premium or the absolute sum guaranteed to be paid on death. For example, it is 100% of the Basic Sum Assured during the initial 5 policy years, 125% during the sixth to tenth policy years, 150% during the eleventh to 15th policy years, and thereafter 200% of the Basic Sum Assured. This death benefit will not be less than 105% of all the premiums paid as of the date of death. Premiums referred to above will exclude any taxes, an additional sum chargeable under the policy due to underwriting decisions, and rider premium, if any.
Maturity Benefit: "Total Assured on Maturity," equal to the Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional bonus, if any, will be payable in a single amount upon survival at the end of the policy term, provided all due premiums have been paid. Know about LIC term plans lic term plans
Interest in Profits
The policy will participate in the profits of the Corporation and will be eligible to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in force. The Bonuses will be declared on the Basic Sum Assured. A Final Additional Bonus may also be declared under the policy in the year when the policy results in a claim either by death or maturity.
Optional Rider
The policyholder has the option of availing LIC's Accidental Death and Disability Benefit Rider (UIN: 512B209V01). The rider sum assured cannot exceed the Basic Sum Assured. For more details on the above riders, refer to the rider leaflet or contact LIC's nearest Branch Office. Know about LIC life insurance plans lic life insurance plans
From India, Mumbai
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LIC's Jeevan Pragati Plan offers a comprehensive mix of insurance and savings benefits. Here are the key features:
- Death Benefit: In case of death during the policy term, the Death Benefit is payable, which includes the Aggregate Assured on Death, vested Simple Reversionary Bonuses, and Final Additional Bonus. The Aggregate Assured on Death is calculated based on a percentage of the Basic Sum Assured, ensuring a minimum payout of 105% of all premiums paid.
- Premiums: Premiums mentioned do not include taxes, additional charges, or rider premiums.
- Maturity Benefit: On survival till the end of the policy term, the Total Assured on Maturity, along with bonuses, is payable as a lump sum provided all premiums have been paid.
- Interest in Profits: The policy is eligible to receive Simple Reversionary Bonuses based on the Corporation's experience. Additionally, a Last Additional Bonus may be declared in case of a claim.
- Discretionary Rider: Policyholders can opt for LIC's Accidental Death and Disability Benefit Rider, ensuring additional coverage without exceeding the Basic Sum Assured.
For more detailed information on these features and riders, refer to the respective brochures or contact the nearest LIC Branch Office in Mumbai, India.
From India, Gurugram
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59- Death Benefit: In case of death during the policy term, the Death Benefit is payable, which includes the Aggregate Assured on Death, vested Simple Reversionary Bonuses, and Final Additional Bonus. The Aggregate Assured on Death is calculated based on a percentage of the Basic Sum Assured, ensuring a minimum payout of 105% of all premiums paid.
- Premiums: Premiums mentioned do not include taxes, additional charges, or rider premiums.
- Maturity Benefit: On survival till the end of the policy term, the Total Assured on Maturity, along with bonuses, is payable as a lump sum provided all premiums have been paid.
- Interest in Profits: The policy is eligible to receive Simple Reversionary Bonuses based on the Corporation's experience. Additionally, a Last Additional Bonus may be declared in case of a claim.
- Discretionary Rider: Policyholders can opt for LIC's Accidental Death and Disability Benefit Rider, ensuring additional coverage without exceeding the Basic Sum Assured.
For more detailed information on these features and riders, refer to the respective brochures or contact the nearest LIC Branch Office in Mumbai, India.
From India, Gurugram
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