Top best reasons to buy Jeevan Pragati Plan

Top best reasons to buy Jeevan Pragati Plan.

1) It is an endowment assurance plan that is not linked to or is not dependent on share market.

2) This plan is great in the way that it offers both protection and savings

3) The specialty of the plan is that the risk cover keeps on increasing every 5 years.

4) The plan is so well suited to counter inflation as the years passes.

5) For better benefits you can opt for this plan with accidental benefit rider.

6) The premium paid is eligible for tax rebate under 80(C).

7) Even the maturity amount is tax-free under 10(10D).

8) You can avail loan from the plan for urgent needs after 3 years.

9) This plan has Sum Assured range from a minimum of Rs. 1, 50,000/- and has no upper limit.

10) This covers a reasonable age group of 12 – 45 years

11) This offers a good range of policy term from 12 – 20 years

12) You have the option to pay your premiums either yearly, half-yearly, quarterly & monthly.

13) As an added bonus, you can avail accidental death & disability benefit rider on payment of additional premium.

14) If you are unable to continue with the plan, you also have the option to surrender the same after 3 years of full premium payment

15) In the unfortunate even of the death of the insured during the policy term, the Death Benefit which is ‘Sum Assured on Death’ + Vested Simple Bonus + Final additional bonus, will be paid to the nominee.

16) One can also avail the maturity benefit upon the survival of the insured until the end of the policy term, the maturity benefit which is ‘Sum Assured on Maturity’ + Simple Bonus+ Final Additional bonus (FAB) will be paid to the policyholder.

17) The policy also participates in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation.

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About the Author: Soumava Chakraborty