Jeevan Pragati Plan

LIC’s Jeevan Pragati is a non-linked, with - profits plan that offers a combination of protection and savings.

This plan provides for automatic increase in risk cover after every five years during the term of the policy. In addition, this plan also takes care of liquidity needs through loan facility.

Death Benefit

In case of death during the policy term, provided all due premiums have been paid, Death benefit, defined as sum of “Sum Assured on Death”, vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable.

Where “Sum Assured on Death” is defined as the higher of 10 times of annualised premium or Absolute amount assured to be paid on death i.e. 100% of the Basic Sum Assured during first 5 policy years, 125% of the Basic Sum Assured during 6th to 10th policy years, 150% of the Basic Sum Assured during 11th to 15th policy years and thereafter 200% of the Basic Sum Assured.

This death benefit shall not be less than 105% of all the premiums paid as on date of death.

Maturity Benefit

“Sum Assured on Maturity” equal to Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.


The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.

Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity.

Optional Benefit:

The policyholder has an option of availing the following Rider benefit:

  • LIC's Accidental Death and Disability Benefit Rider.

Rider sum assured cannot exceed the basic sum assured.

Eligibility conditions and other restrictions

  • Minimum Basic Sum Assured : Rs. 1,50,000
  • Maximum Basic Sum Assured : No Limit
  • (The Basic Sum Assured shall be in multiples of Rs. 10,000/-)
  • Policy Term : 12 to 20 years
  • Minimum Age at entry : 12 years (completed)
  • Maximum Age at entry : 45 years (nearest birthday)
  • Maximum Maturity Age : 65 years (nearest birthday)

Payment of Premiums:

Premiums can be paid regularly during the premium paying term at yearly, half-yearly, quarterly or monthly intervals (through ECS or through salary deductions).

However, a grace period of one month but not less than 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly premiums.

Sample Premium Rates:

Following are some of the sample annual tabular premium rates (in Rs.) (exclusive of service tax) per Rs. 1000/- Basic Sum Assured:

Age (in years) Term (in years)
12 15 20
20 88.10 69.50 49.70
30 88.45 70.00 50.75
40 90.05 72.20 54.40
45 92.00 74.65 57.85


LIC India offers some benefits to the policyholders by choosing specific mode and high sum assured of the plan.

High Sum Assured Rebate
Basic Sum Assured (B.S.A) Rebate (Rs.)
1,50,000 to 2,90,000 Nil
3,00,000 and 4,90,000 1.50% of B.S.A.
5,00,000 and 9,90,000 2.00% of B.S.A.
10,00,000 and above 2.25% of B.S.A
Premium Payment Mode Rebate
Yearly mode2% of Tabular Premium
Half-yearly mode1% of Tabular premium
Quarterly, Monthly & Salary deduction NIL

Other Features:


Suicide:- This policy shall be void

If Life Assured commits suicide within one year from the date of risk commencement, the policy will be cancelled and cannot claim death benefit. LIC will return the extent of 80% of the single premium paid excluding taxes and any extra premium paid.

If the Life Assured commits suicide within one year from the date of revival, the amount which is higher 80% of premium paid till the date of death (excluding taxes, any extra premium paid,rider premium) or surrender value if the policy in force will be payable.