The name of this scheme of LIC is Jeevan Pragati Scheme. The sum assured you take in this policy increases.
New Delhi. We are going to tell you about the best plan to invest in LIC policy. By investing Rs 200 daily in this, after 20 years you can earn a strong corpus of Rs 28 lakh. Under this policy, a pension of more than Rs 15,000 is also given.
LIC Jeevan Pragati Scheme
The name of this scheme of LIC is Jeevan Pragati Scheme. The amount of Sum Assured (Value of Sum Assured Cover) you take in this policy increases. By the end of the policy, the sum assured becomes almost two times. This is a non linked policy. In a non-linked policy, if the customer surrenders the policy after two years, he will get a fixed amount.
There are many benefits of this plan
This is an endowment plan, which at the same time provides you with protection as well as savings. The risk cover in the policy increases every five years. The sum insured remains the same for the first five years. After this it increases from 25 percent to 125 percent by 6 to 10 years. For 11 to 15 years the sum insured becomes 150 percent. Sum insured for 16 to 20 years becomes 200% of Basic Sum Insured.
Death Benefit
In case the policyholder dies during the policy term, his/her nominee will get Sum Assured on Death plus Bonus along with Final Addition Bonus (if any). If you take a policy of 2 lakh sum insured then coverage for death benefit is 2 lakh in the first five years, 2.50 lakh for 6 to 10 years, 3 lakh for 11 to 15 years and for 16 to 20 years The coverage will be Rs 4 lakh. This means the sum insured will be doubled. Under this, Accidental Death and Disability Rider will also be present. For this an additional premium will have to be paid.
In this way you will get 28 lakh rupees
Under this scheme, you will be able to get a fund of about Rs 28 lakh after 20 years on the sum assured of 15 lakhs and an investment of Rs 200 per day. It can be more or less.
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