LIC Jeevan Pragati: Invest Rs 6,000, get THIS much sum assured; policy has five-yearly increase in death benefit

 

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.

Read More: Reliance Jio and Reliance Retail may have their IPOs in the next 12-18 months, according to CLSA

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.

Read More: Axis Bank, ICICI Bank, BOI, Federal Bank: Banks that Morgan Stanley prefers ahead of Q3 results

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.

Source :
Msn

RELATED ITEMS:, , , 

Comments

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the ...
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the I...
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5...
Read more