Jeevan Pragati
Jeevan Pragati
Product Summary :
Jeevan Pragati(838) is a non-linked, with profits Endowment Assurance Plan wherein the risks cover automatically increases after every five years during the term of the 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
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
10 times of Annualized Premium, OR
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 at least 3 full years premiums have been paid.
Loan :
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).
Proposal Form : 300/340/360 shall be used under this plan.
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