Jeevan Tarun Plan (T-834)
LIC Jeevan Tarun Plan is a child plan which provides financial help to parents at the time of child education and marriage. This plan is having multiple maturity options which can be decided earlier by parents as and when they want the maturity amount to be used for the purpose of child future planning.
LIC Jeevan Tarun Plan – USP’s
Let’s check some unique selling points of Jeevan Tarun Plan
- Child plan for age group 0 to 12 yeras.
- Best suited for child aged 0 to 5 years.
- Starting early helps the parents to accumulate huge corpus for their child future planning.
- Life cover for both child and parents is available in this plan.
- Premium waiver benefit rider helps to fulfil the planning of parents in case of any sad demise with their life.
- Double tax benefit of section 80C & 10(10D) available.
Maturity Benefit Of LIC Jeevan Tarun plan:
- 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 Benefit Of LIC Jeevan Tarun Plan:
- 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 Of LIC Jeevan Tarun Plan:
|Minimum Age to Apply||0 Years (Last Birthday)|
|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 (NACH Only)|
|Sum Assured||75000 and above (in multiples of 10000)|
|Loan||After 3 Years|