LIC Jeevan Pragati Plan (Table No: 838) is a non-linked (Not dependent on share market) endowment assurance plan in which Risk Cover keeps on increasing every 5 year. The increasing risk cover is an important feature which provides adequate risk cover against inflation as the years passes. Jeevan Pragati plan can be suitable for a person who is looking for a saving as well as adequate risk cover as protection for his/her family with LIC. This can be opt with accidental benefit rider to make it a better plan.

Key Features

  • Increasing Life Cover
  • Suitable plan to counter inflation
  • Premium paid is eligible for rebate under 80(C)
  • Maturity amount will be tax free under 10(10D)

Plan Parameters

Age at Entry12 Years (Completed)
Maximum Age at Entry45 Nearest Birthday
Maximum Maturity Age65 Nearest Birthday
Premium Paying ModeYearly, Half Yearly, Quarterly, Monthly (ECS Only)
Policy Term12 to 20 Years
Sum Assured1,50,000 and above (in multiple of 10,000)
Premium Mode Rebate2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly
Rebate on High Sum Assured
(Per 1000 of Sum Assured)
0% up to 2,90,000
1.50% for 3,00,000 to 4,90,000
2.00% for 5,00,000 to 9,90,000
2.25% for 10,00,000 and above
LoanAfter 3 years
SurrenderAfter 3 years of full premium payment

Maturity Benefit

On completion of policy term, Sum Assured + Bonus + Final Addition Bonus (FAB) will be paid as maturity.

Death Benefit

In case of death during policy term, Death Sum Assured + Bonus up to year of death + FAB will be paid as Death claim to Policy holder’s nominee. Death Sum Assured depends up year of death, following table explains death claim.

Year of DeathDeath Claim AmountRemarks
During 0-5 years of Policy Term100 % of Sum Assured + Accumulated Bonus at the time of DeathFAB is not applicable before 15 Years
During 6-10 years of Policy Term125 % of Sum Assured + Accumulated Bonus at the time of DeathFAB is Not applicable before 15 Years
During 11-15 years of Policy Term150 % of Sum Assured + Accumulated Bonus at the time of Death+ FABFAB is applicable for 15th year
During 16-20 years of Policy Term200 % of Sum Assured + Accumulated Bonus at the time of Death+ FABFAB is applicable

Optional Rider

Accidental Death and Disability Benefit Rider is available with this plan as rider which can attached with Jeevan Pragati plan (838) to make more essential plan in case of an accident or disability during the policy term.