The LIC Jeevan Pragati scheme also offers death risk cover to investors and follows the rules and regulations set by the Insurance Regulatory and Development Authority of India (IRDAI).
New Delhi: Indians looking to invest their money often find solace in the Life Insurance Corporation (LIC), the state-backed insurer which provides several investment schemes offering impressive and safe returns. In one such scheme named LIC Jeevan Pragati, the insurer is offering investors a chance to secure their future by investing little on a monthly basis.
The LIC Jeevan Pragati scheme also offers death risk cover to investors and follows the rules and regulations set by the Insurance Regulatory and Development Authority of India (IRDAI).
Here’s how to get Rs 28 lakh on maturity:
For getting Rs 28 lakh on maturity under the LIC Jeevan Pragati policy, an investor needs to invest about Rs 6000 per month for roughly 20 years. This translates into Rs 200 per day.
In addition to the sum on maturity, investments in the LIC Jeevan Pragati policy also offers risk cover benefits which increase after every five years.
In case of the death of the investors, the nominee gets a minimum guaranteed amount which is payable on maturity. Nominees also receive a reversionary bonus on the death of the investor in the LIC Jeevan Pragati policy.
Minimum/maximum age to invest in LIC Jeevan Pragati policy
Investors above the age of 12 years can start investing in the LIC Jeevan Pragati policy. The maximum age at which the investors can invest in the scheme is 45 years.
Moreover, one has to invest for a minimum of 12 years to reap the benefits of the LIC Jeevan Pragati policy. Meanwhile, investors can invest in the policy for a maximum term of 20 years.
