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Introduction

This policy provides you an option to care for the future of the children. This plan is helpful to plan out a child’s education and marriage. The maturity sum assured is also a huge amount. LIC Jeevan Tarun Plan (T-934) is specially designed to meet the educational and other needs of growing children through annual Survival Benefit payments from ages 20 to 24 years and Maturity Benefit at the age of 25 years.

Why Jeevan Tarun Plan

This plan holds the financial help that the policy holder will need to ensure good education of the child.

Key Features

It is a flexible plan where the policy holder can choose the survival benefits it wants to assure for the future.

  • A Plan For Child Age 90 Days -12 Years.
  • Survival benefit from 20-25 year age of child.
  • Premium Waiver Benefit Rider Available for Proposer (All Premiums Will Be Waived Off In Case Of Proposer’s Unfortunate Death).
  • Double Tax Benefit Available (Premium Paid gives 80C Tax Benefit up to Rs. 1,50,,000 and Maturity is also Tax Free under section 10(10D)).
  • Loan and Surrender Facility Available.

Survival Benefits

For this policy, you will need to refer to the policy documents.

Maturity Benefit

There are four options available to take the maturity on survival which gives the flexibility to plan and secure future requirements from 20 year of age to 25 year of age child. The four option are explained in following table.

Options From 20 -24 year of age At 25 Year of Age
1 0 100% of SA + Bonus + FAB
2 5% of SA 75% of SA + Bonus + FAB
3 10% of SA 50% of SA + Bonus + FAB
4 15% of SA 25% of SA + Bonus + FAB

Death Claim Benefits

The returns on the premiums paid will be, at least 105%.

  • On Death Before the Date of Commencement of Risk: An amount equal to the total amount of premium paid shall be payable.
  • On Death After the Date of Commencement of Risk: Sum Assured + Vested Bonus + FAB if any.

Eligibility Criteria:

Minimum Age to Apply 90 Days
Maximum Age to Apply 12 Years (Last Birthday)
Policy Term 25 year Age of child at Maturity Time
Premium Paying Term 20 – Age at Entry
Premium Paying Mode Yearly, Half Yearly, Quarterly, Monthly (ECS Only)
Sum Assured 75000 and above (in multiples of 10000)
Loan After 3 Years
Surrender After 3 years of premium payment
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