LIC Jeevan Pragati 838 is a with-profit endowment plan sold from February 2016 to January 2020. Its death cover rises every five years, from 100% to 125%, 150% and finally 200% of the basic sum assured. Terms run 12 to 20 years. A 30-year-old with ₹5 lakh cover for 20 years pays about ₹22,050 a year, with no GST on top, and could receive around ₹9.45 lakh at maturity.
Jeevan Pragati 838 Premium & Maturity Calculator
Your estimate
- Premium per instalment
- ₹22,050
- Total premium paid
- ₹4,41,000
- Total bonus (estimated)includes an indicative final additional bonus on 15+ year terms
- ₹4,45,000
- Sum assured on deathin the final years of the policy, plus accrued bonuses
- ₹10,00,000
- Age at maturity
- 50 years
- Total premium paid₹4,41,00047%
- Net gain₹5,04,00053%
Risk cover step-up (sum assured on death)
| Policy years | % of basic SA | Sum assured on death |
|---|---|---|
| 1–5 | 100% | ₹5,00,000 |
| 6–10 | 125% | ₹6,25,000 |
| 11–15 | 150% | ₹7,50,000 |
| 16–20 | 200% | ₹10,00,000 |
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC Jeevan Pragati Plan 838?
LIC Jeevan Pragati (Plan 838, UIN 512N306V01) is a non-linked, with-profit endowment plan. You pay a premium every year of the term and receive the sum assured plus bonuses when the policy matures. What sets it apart is the step-up death cover: the amount your family would receive grows every five years, so protection rises as your responsibilities usually do.
LIC offered the plan from 3 February 2016 until 16 January 2020. It is closed to new buyers, but existing policies continue unchanged. The calculator above is built for those policyholders and for anyone comparing an old policy with a newer plan.
Jeevan Pragati 838 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 838 / 512N306V01 |
| Plan type | With-profit endowment, regular premium |
| Policy term | 12 to 20 years |
| Premium paying term | Same as the policy term |
| Entry age | 12 to 45 years |
| Maximum maturity age | 65 years |
| Minimum sum assured | ₹1,50,000 (no upper limit) |
| Death cover | Rises from 100% to 200% of basic SA |
| Loan and surrender | After 3 full years of premium |
| Status | Withdrawn for new sales |
How the death cover steps up
| Policy years | Sum assured on death |
|---|---|
| 1 to 5 | 100% of basic sum assured |
| 6 to 10 | 125% |
| 11 to 15 | 150% |
| 16 to 20 | 200% |
Accrued bonuses are added in every band. For a ₹5 lakh policy on a 20-year term, the calculator shows cover of ₹5 lakh, then ₹6.25 lakh, ₹7.5 lakh and finally ₹10 lakh in the last five years.
How the premium is calculated
The premium is a fixed rate per ₹1,000 of sum assured that depends on your age and term. The calculator then:
- deducts a high sum assured rebate for covers of ₹3 lakh and above;
- gives a 2% rebate if you pay yearly, or applies the half-yearly, quarterly or monthly factor;
- adds no GST, because individual life premiums are GST-exempt from 22 September 2025.
Worked example: a 30-year-old choosing ₹5 lakh for 20 years pays about ₹22,050 a year (about ₹1,980 a month). Over 20 years that is ₹4,41,000. A 35-year-old taking ₹10 lakh for 15 years pays about ₹56,791 a year, or ₹8,51,865 in total.
Tip: the rate chart in our source fell with age, which is not how LIC prices endowments. We kept its age-30 rates and rebuilt the age pattern from the plan’s rising death cover, so treat all figures as close estimates.
Maturity benefit
On surviving the term you receive the basic sum assured + simple reversionary bonuses + final additional bonus (if declared). At an illustrative ₹42 per ₹1,000 per year, the ₹5 lakh, 20-year example builds ₹4.2 lakh of bonus. Adding an indicative final bonus gives a maturity value of about ₹9,45,000 against ₹4,41,000 paid. The ₹10 lakh, 15-year example matures at about ₹16,80,000. Change the bonus field to test a lower or higher rate, or use our LIC bonus calculator.
Death benefit
If the life assured dies during the term, the nominee gets the stepped-up sum assured on death plus bonuses. The sum assured on death is never less than 10 times the annualised premium, and the payout is never less than 105% of premiums paid.
Loan, surrender and paid-up value
After three full years of premium you can take a policy loan or surrender the policy. If you stop paying after that point, the plan becomes paid-up with a proportionately reduced sum assured. Our surrender value calculator gives a rough idea of the exit value.
Tax benefits
Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in the old tax regime. Maturity and death proceeds are generally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)), provided the yearly premium stays within the limits set by the law for the policy’s issue date.
Jeevan Pragati vs newer endowment plans
Jeevan Pragati’s rising death cover had no direct successor. The closest current option for a plain regular-premium endowment is New Endowment Plan 714. If you prefer to finish paying early, compare Jeevan Labh 736.
How to use this calculator
Enter your age, term, sum assured and payment mode. The results show your premium, total outlay, estimated maturity and a table of the death cover for each five-year band.
Frequently asked questions
Can I still buy LIC Jeevan Pragati Plan 838?
No. The plan was open for new business from 3 February 2016 to 16 January 2020. Policies bought in that window stay in force with all benefits. New buyers who want a regular endowment can look at New Endowment Plan 714 or Jeevan Labh 736.
How does the death cover increase in Jeevan Pragati?
The sum assured on death is 100% of the basic sum assured in years 1 to 5, 125% in years 6 to 10, 150% in years 11 to 15 and 200% in years 16 to 20. Accrued bonuses are paid on top. The maturity amount is based only on the basic sum assured.
What is the premium for ₹5 lakh in Jeevan Pragati 838?
Our calculator estimates about ₹22,050 a year for a 30-year-old taking ₹5 lakh cover for 20 years, paid yearly. Monthly payment works out to about ₹1,980 a month. Actual policy premiums may differ slightly because LIC also loads for health and occupation.
What is the maturity value of Jeevan Pragati 838?
Maturity is the basic sum assured plus simple reversionary bonuses and any final additional bonus. At an illustrative ₹42 bonus per ₹1,000, a ₹5 lakh, 20-year policy builds about ₹4.2 lakh of bonus, and total maturity comes to roughly ₹9.45 lakh.
Is there a minimum death benefit in Jeevan Pragati?
Yes. The sum assured on death is never lower than 10 times the annualised premium, and the total death benefit is never less than 105% of all premiums paid up to the date of death. The higher figure applies.
When can I take a loan or surrender Jeevan Pragati?
Both options open after three full years of premium payment. The loan is a percentage of the surrender value. If you stop paying after three years, the policy becomes paid-up with a reduced sum assured instead of lapsing.
Do I pay GST on my Jeevan Pragati renewal premium?
No. Individual life insurance premiums are exempt from GST from 22 September 2025. Before that date LIC charged 4.5% in the first year and 2.25% on renewals, so older receipts will show a slightly higher amount.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.