LIC is synonymous with security and growth of wealth. It comes up with some of the best insurance and wealth generation plans. By investing in these schemes, you can create a good retirement corpus. The only downside is that LIC requires long term investments. However, the benefits are great too. Today, we are going to tell you about LIC’s Jeevan Pragati Bima Yojana which can earn you lakhs.
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In LIC Jeevan Pragati Bima Yojana, if a person invests Rs 200 daily, he/she can create a corpus of lakhs at the time of maturity. Jeevan Pragati plan’s tenure is between 12 and 20 years.
So if you invest Rs 200 daily, which is Rs 6000 every month, you will have invested Rs 72,000 per year. One benefit of this policy is that its risk cover also increases with the time period you have remained invested. So the risk cover and insurance amount keep increasing every year.
For instance, if you have invested a policy of Rs 4 lakh, after five years, the amount will become Rs 5 lakh. After 15 years, this amount will become Rs 6 lakh and after 20 years, this amount will become Rs 7 lakh. In case of the policy holder’s death, this amount will be given to the person’s nominee.
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If you invest Rs 6000 every month, you will get Rs 28 lakh after 20 years.
Those aged between 12 and 45 can invest in this policy. Minimum sum assured is Rs 1.5 lakh and there is no limit for the maximum.
