LIC's Jeevan Pragati (838) Premium, Maturity Calculator
LIC's Jeevan Pragati (838) Premium, Maturity Calculator - LIC's Jeevan Pragati (838) Endowment plan is a non-linked policy with profits Endowment Assurance Plan wherein the risks cover automatically increases after every five years during the term of the policy.
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Step-by-Step process: (LIC's Jeevan Pragati (838) Premium, Maturity Calculator)
- Select Plan
- Select Age
- Select Policy's Term
- Sum Assured
- For Accidental Benefits, mark Check Box
- Click on Calculate
Basic information of policy
- Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly(ECS)
- Term : 12 to 20 Years
- Minimum Entry Age : 12 Year Completed
- Maximum Entry Age : 45 Year (Nearest Birthday)
- Maximum Maturity Age : 65 Year (Nearest Birthday)
- Minimum Sum Assured : 1,50,000
- Maximum Sum Assured : NO LIMIT (Depending upon Income)
- Maximum Accidental Death and Disability Benefit Rider up to age 65.
Policy Benefits:
- On Death : Sum Assured + Vested Bonus + FAB if any.
- Where 'S.A. on Death' is defined as the higher of i. 10 times of Anualized Premium, OR ii. Absolute amount assured to be paid on death, which is as under:
- During first five policy years: 100% of the Basic S.A.
- During 6th to 10th policy years: 125% of the Basic S.A.
- During 11th to 15th policy years: 150% of the Basic S.A.
- During 16th to 20th policy years: 200% of the Basic S.A.
- This Death Benefit shall not be less than 105% of all Premiums paid as on death
On Survival:
- On survival Basic Sum Assured + Vested Bonus + FAB if any.
Surrendered Value:
- The Policy can be surrendered at any time during the policy term provided atleast 3 full years premiums have been paid.
Loan
- Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.
Income Tax Benefit
- Premium paid under this plan is eligible for TAX rebate under section 80c.
- Maturity under this plan is free under sec 10(10D).
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