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Jeevan Tarun (Plan No.: 734)

Brochure Enquiry It is a regular plan with limited payment option. Flexible Survival benefit is available to meet education needs from age 20 to age 24 years of child age. It gives guaranteed tax free maturity at age 25 years of child. Policy can be availed with a maturity age as 25 years and can be taken by children between the ages of 0 years to 12 years. This plan also offers cover on the life of child during policy term.

Money Back with Periodic Survival Benefits

Money back at the age of 18 Years, 20 Years and 22 Years to take care of the education needs of child and lump sum maturity at the age of 25 years of child to take care of marriage expenses of child

Profit Sharing as per Valuation

Every year, LIC declares valuation results.
As per valuation result declared by LIC, profit is being shared among all policyholders as bonus.
 

Profit Sharing as per Valuation

Every year, LIC declares valuation results.
As per valuation result declared by LIC, profit is being shared among all policyholders as bonus.
 

Profit Sharing as per Valuation

Every year, LIC declares valuation results.
As per valuation result declared by LIC, profit is being shared among all policyholders as bonus.
 

Advantages

Eligibility Criteria

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Minimum
Maximum
30 Days Completed
12 Years (Last Birthday)
Term
(25 Years - Age at Entry) Years
PPT
(20 - Age at Entry) Years
Sum Assured
₹ 2,00,000/-
No Limit

Premium Modes

Yearly, Half-Yearly, Quarterly and Monthly (NACH only) or through salary deductions (SSS).

Riders Available

LIC’s Premium Waiver Benefit Rider

4 Options are available.

Option
Survival Benefit from Age 20 to 24 Years
Maturity Benefit
Option 1
No Survival Benefit
100% of Basic Sum Assured
Option 2
5% of Basic Sum Assured every year for 5 Years
Option 3
10% of Basic Sum Assured every year for 5 Years
Option 4
15% of Basic Sum Assured every year for 5 Years
Option 4 15% of Basic Sum Assured every year for 5 Years

Death Benefit

On death of the Life Assured during the Policy Term, Sum Assured on Death alongwith vested Simple Reversionary bonuses and Final Additional bonus (if any), where “Sum Assured on Death” is defined as higher of 125% Basic Sum Assured or 7 times of annualised premium.

This Death Benefit (as defined above) shall not be less than 105% of total premiums paid upto the date of death. Where,
1. “Annualized Premium” shall be the premium amount payable in a year, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums.

2. “Total Premiums Paid” means total of all the premiums paid under the base product, excluding any extra premium, and taxes, if collected explicitly. In case LIC’s Premium Waiver Benefit Rider is opted for, in the event of death of Proposer, any subsequent Premiums which are waived shall be deemed to have been received and be included in the Total Premiums Paid.

 

Maturity Benefit

Sum Assured on Maturity alongwith vested Simple Reversionary Bonus and Final Additional Bonus.

 


Loan Facility
 is available after completion of first policy year provided one full year’s premium has been paid.

Option to Surrender the Policy

The policy can be surrendered by the policyholder after completion of first policy year provided atleast one full year’s premium(s) has been paid. However, the policy shall acquire Guaranteed Surrender Value on payment of atleast two full years’ premiums and Special Surrender Value after completion of first policy year provided one full year’s premium(s) has been paid. On surrender of an in-force or paid-up policy, the Corporation shall pay the surrender value equal to higher of Guaranteed Surrender Value and Special Surrender Value.

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