LIC New Jeevan Pragati Table no 838 Details

Monday, January 18, 2016


LIC New Jeevan Pragati Table no 838 Details | Features, Benefits Reviews, Premium, Maturity and Risk Cover

This is a non-linked, with-profits Endowment Assurance plan. The main feature of this Jeevan Pragathi 838 plan is the ‘sum assured on death’ (part of death benefit) automatically increases after every five years during the term of the policy.

Key Features & Eligibility Conditions of LIC Jeevan Pragati Plan


  • Minimum Basic Sum Assured (payable on maturity) : Rs. 1,50,000/-
  • Maximum Basic Sum Assured : No Limit (Maturity Sum Assured shall be in multiple of Rs. 10,000/- only)
  • Minimum Policy Term : 12 years
  • Maximum Policy Term  : 20 years
  • Minimum Age at entry for Life Assured : 12 years (completed)
  • Maximum Entry Age : 45 years (nearer birthday)
  • Maximum Age at Maturity for Life Assured : 65 years
  • Premium payment mode : Yearly, half-yearly, quarterly & monthly.
  • Accidental Death & Disability Benefit Rider is available on payment of additional premium.
    • Minimum Accident Benefit Sum Assured is Rs 10,000
    • Maximum Accident Benefit Sum Assured is an amount equal to the Basic Sum Assured subject to the maximum of Rs 1 cr.
    • Minimum entry age for the rider is 18 years

Benefits under LIC’s Jeevan Pragati policy

  • Death Benefit under Jeevan Pragati Plan : On death of the Life Assured during the policy term, the Death Benefit  which is ‘Sum Assured on Death’ + Vested Simple Reversionary Bonuses + Final additional bonus, if any, shall be payable to the nominee. The Sum assured on death automatically increases every fiver years. Where “Sum Assured on Death” is defined as the higher of  a) 10 times of annualized premium (or) b) Absolute amount assured to be paid on death, which is as under;
    • i) During the first five policy years : 100% of the Basic Sum Assured.
    • ii) During 6th to 10th policy years : 125% of the Basic Sum Assured.
    • iii) During 11th to 15th policy years : 150% of the Basic Sum Assured.
    • iv) During 16th to 20th policy years : 200% of the Basic Sum Assured.
  • Maturity Benefit payable under LIC Jeevan Pragati Policy : On survival to the end of the policy term, the maturity benefit which is ‘Sum Assured on Maturity’ + Simple Reversionary Bonuses + Final Additional bonus (FAB) if any, shall be payable to the policy holder. Sum Assured on Maturity is equal to Basic Sum Assured.
  • Final Additional Bonus shall not be payable under paid-up policies..
  • The Bonuses shall be declared on the Basic Sum Assured.
  • The date of commencement of risk under Jeevan Pragati plan will be immediately from the date of issuance of policy.


  The modes of premium payment allowable are Yearly. Half Yearly. Quarterly, and Monti (ECS only or through salary deductions).


  • A grace period of one calendar month but not less than 30 days will be allowed for Quarterly, Half Yearly  and Yearly premium paid and 15 days for monthly mode of payment.
  • If the death of the Life Assured occurs within the grace period but before the premium then due, the policy will be treated as in-force and the benefits will be paid deduction of the said unpaid premium and also the unpaid premiums falling due before next policy anniversary
  • If premium is not paid before the expiry of the days of grace, the policy lapses.
  • If the Policy has not lapsed and the claim is admitted in case of death under the where the mode of payment of premium is other than yearly, unpaid premium(s).
  • The above grace period will also apply to rider premium as the rider premium is to be along with the premium of the base plan.


The rebates for base plan are as under:

Mode Percentage

  • Yearly mode : 2% of tabular premium
  • Half-yearly mode : 1% of tabular premium
  • Quarterly and monthly mode : NIL

High Basic Sum Assured Rebate:

  • 1,50,000 to 2,90,000 : Nil
  • 3.00,000 to 4,90,000 : 1.50 % B.S.A
  • 5,00,000 to 9.90.000 : 2.00 % B.S.A
  • 10.00.000 and above : 2.25 %° B.S.A
  • BSA –  Basic Sum Assured

Lic New Jeevan Pragati 838

Lic Jeevan Pragati Plan 838

Lic New Jeevan Pragati Premium Payment Plan Table No 838 Details

LIC New Jeevan Pragati Payment Plan 838 Details

Lic New Jeevan Pragati Plan Table No 838

Lic New Jeevan Pragati Plan Table 838 Features

Lic New Jeevan Pragati Plan Table No 838 Premium Calculator

Lic Jeevan Pragati Plan 838 Premium Calculator

Other Plans :   LIC Jeevan Anand Policy Table 815LIC New Endowment Plan 814

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