The Life Insurance Corporation of India keeps bringing to you insurance policies that provide both live cover and hefty returns. This is why even after decades, no private insurance company is even close to capturing LIC’s market share. LIC also runs comparatively short term plans like LIC Jeevan Pragati policy.
LIC Jeevan Pragati policy not only provides a good insurance cover, it also gives people good returns after maturity. This LIC policy plan can earn you lakhs within a few years.
Under LIC Jeevan Pragati Bima Yojana, a person has to be invested for between 12 years and 20 years.
If you invest Rs 200 per day, which is Rs 6,000 per month, you can get Rs 28 lakh after the maturity period of 20 years.
This also provides you lifetime security. This money amounts to Rs 72,000 per year.
Under this LIC policy, the insured person’s insurance amount increases every five years. A person’s nominee receives the money after his/her death.
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Under this scheme, if someone has bought an insurance policy of Rs 4 lakh, then after 5 years, the insurance amount will become Rs 5 lakh. After 10 to 15 years, it will be Rs 6 lakh and after 20 years, this amount will be Rs 7 lakh.
This policy can be availed by those who are between 12 and 45 years of age.
Minimum sum assured is Rs 1.5 lakh; there is no cap for the maximum amount.
