LIC Jeevan Pragati

LIC Jeevan Pragati Plan Features and Benefits

LIC Jeevan Pragati (LIC Table No 838) is non-linked assurance plans that have been prepared to offer adequate risk cover for a huge number of individuals. This plan is completely independent on share market and the risk cover keeps on increasing every 5  years.One of the major benefits of this assurance plan is it offers coverage for inflation prevention as the year passes.

LIC Jeevan Pragati 838
LIC Jeevan Pragati 838

This plan is extremely suitable for those individuals who are looking for savings along with  protection for family. To make better if you can opt for the accidental benefit rider.


AGEMin. age :  12 years Max. age: 45 years
Policy TermMin. Term  :12 years Max. Term : 20 years
Sum AssuredMin SUM ASSURED: Rs. 1,50,000/-Max. SUM ASSURED: No Limit
Premium Paying ModeMonthly (SSS, ECS), Quarterly, Half yearly, Yearly

The death benefit under Jeevan Pragati Plan-838

In this "jeevan pragati plan"if the policy holder expire during the policy term then, Sum assured +simple revisionary bonuses along with the final additional bonus will be paid to the  nominee.The sum assured on death increases every 5 years. This sum assured is 10 times greater than annualized premium or the absolute amount which shall be paid on death to the nominee.

In the first five year policy, any nominee shall receive 100% of total basic sum assured, in case of 6th to 10th policy years, nominee shall receive 125% of total basic sum assured. While in case of 11th to 15th year 150% of basic sum assured shall be paid and if the policy term is for 16-20 years, nominee shall receive 200% of basic sum assured.

Maturity benefit Jeevan Pragati Plan-838

If the policy holder survives till the end of this policy, the maturity amount shall be paid to the policy holder“overall amount paid on maturity along with revisionary bonuses and additional bonuses if any. The sum assures that is provided on maturity is similar to the basic sum assured. If the policy is paid up, then final additional bonuses are not paid.The commencement date of risk within Jeevan Pragati shall be immediately from insurance policy date. 

Premium Payment Mode in Jeevan Pragati plan.

In LIC Jeevan Pragati premium payment mode that is allowable is monthly, quarterly, half yearly and annually. The grace period is 30 days shall be offered for quarterly, half-yearly and annually and 15 days for monthly mode. In case the death takes place within grace period but that is before the premium, then that policy shall be treated as inforce and all benefits shall be paid in full.

The policy shall lapse if premiums are not paid within expiry date of grace. The grace period is also applicable for rider premiums along with premiums of base plan.

LIC Jeevan Pragati Plan 838 Rebates

There are two rebates that are offered within this plan, these are given below;

Mode Rebate

              Yearly              – Table premium 2%

              Half yearly     – Table Premium 1%

Sum Assured Rebate

Sum AssuredRebate
From Rs. 1,50,000/- to Rs. 2,90,000/-NIL
From Rs. 3,00,000/- to Rs. 4,90,000/-For every  1,000 Rs./- Sum Assured  1.50 Rs/- rebate
From Rs. 5,00,000/- to Rs. 9,90,000/-For every  1,000 Rs./- Sum Assured  2.00 Rs/- rebate
From Rs. 10,00,000/- and aboveFor every  1,000 Rs./- Sum Assured  2.25 Rs/- rebate

Benefit example for LIC jeevan pragati plan 838

An example of VINOD who is purchasing this Plan with following details.

Sum Assured: Rs.5,00,000
Policy Term: 20 Years
Policy Purchase Year: 2016
Age: 25 Years
Yearly Premium: Rs. 24870

Maturity Details

If policy holder survives the policy term ( i.e. 20 years ), Maturity will be as under.

Maturity YearAge at MaturityMaturity Amount(approx)

Year-wise Death Claims as under.

YearAgeRisk Cover NormalRisk Cover AccidentalPremiumTax SavedNet PremiumAmount Received
example for LIC jeevan pragati plan 838

Additional Information about Jeevan Pragati Policy

Risk Coverage:End of the Policy Term.

Date of Commencement of Risk: Imidiate

Locking period: 3 years.

Loan Facility: Available.

Income Tax Benefit – Income Tax Benefits available on Paid Life Insurance Premium U/Sec 80C and Maturity Benefit will also be tax free under section 10(10)D.

Loan:Loan is available.

Riders available: Accidental Benefits is available .

Policy Revival: Policy can be revived before 2 years from the date of first unpaid premium.

Proposal Forms : Proposal Form no. 300, or 340 will be used under this plan.

Cooling-off Period: If a policyholder is not satisfied with the Terms and Conditions of the policy, he/she may return the policy within 15 days from the date of receipt of the policy.

Back-dating interest: The policies can be dated back within the same financial year.

Assignments/Nominations: assignment and nominations is possible under this plan.

 Services that I offer

  • New LIC Policy Quotes and Completion
  • Complete guidance
  • Doorstep Premium Collection Service
  • Personalized Policy Recommendations
  • Renewal / Revival of Lapsed Policies
  • Human Life Value Calculation
  • Life Time Services




To know about more LIC Plans please visit our website

Office Address:-25,KG,Marg,Jeevan Prakash Building.

LIC of India,Branch Unit-117.

3rd floor,C.P. New Delhi-110001.

ENDOWMENT PLAN                                

LIC New Endowment

LIC New Jeevan Anand

LIC Jeevan Lakshya

4 thoughts on “LIC Jeevan Pragati

  1. Pingback: LIC न्यू बीमा बचत 816 » Call-9891009400,इस प्लान में 3 साल में मनी बैक दिया

  2. Pingback: LIC जीवन लक्ष्य प्लान 933 » इस बेहतरीन योजना से दें अपने परिवार को पूरी सुरक्षा

  3. Pingback: LIC प्लान आधार स्तंभ योजना 843 हिंदी में » कम आमदनी वाले लोगों के लिए योजना

  4. Pingback: LIC न्यू जीवन आनंद प्लान » Call-9891009400, LIC की सबसे बेहतरीन योजना

Leave a Reply

Your email address will not be published. Required fields are marked *