Jeevan Pragati (838) is a non-linked, with profits Endowment Assurance Plan wherein the risks cover automatically increases after every five years five years during the policy term of the policy.
PREMIUM PAYING MODE:-
Yearly, Half yearly, Quarterly, Monthly(ECS)
MINIMUM ENTRY AGE:-
12 year completed
MAXIMUM ENTRY AGE:-
45 year (Nearest Birthday)
MAXIMUM MATURITY AGE:-
MINIMUM SUM ASSURED:-
MAXIMUM SUM ASSURED :-
No Limit (Depending upon income)
MAXIMUM ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER UP TO AGE 65.
Sum Assured + Vested Bonus + FAB if any. Where S>A on death is defined as the higher of
1.ten times of the annualized premium, OR
2.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 Basic Sum Assured + Vested Bonus + FAB if any
The Policy can be surrendered at any time during the policy term provided at least 3 full years premiums have been paid.
Loan facility is available in this policy, 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).
300/340/360 Shall be used under this plan.