lic jeevan tarun plan

lic jeevan tarun plan

LIC Jeevan Tarun Plan (Table No. 834)

LIC's JEEVAN TARUN (Table No. 834) is a participating non-linked limited premium payment plan which offers an attractive combination of protection and saving features for children. This plan 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.

Key Benefits:

• Specially designed to meet the educational needs of the growing children.
• Flexible options for maturity Benefits - either in instalments or in one lump-sum.
• Policy term depends on the age at entry of the child.
• Limited Premium paying term 5 years less than policy term.
• Premium Waiver option – to ensure that the planned benefits will be paid to the child – with or without you.
• Risk Cover 125% of the Basic Sum Assured.
• Gauranteed and Tax free maturity benefits.

Eligibility Conditions & Restrictions:   Minimum Age at Entry 90 Days (Completed) Maximum Age at Entry 12 Years(Nearest Birthday)  Maturity Age 25 Years Policy Term 25 Years - Age at Entry  Premium Paying Term 20 Years - Age at Entry Minimum Sum Assured 75000/-  Maximum Sum Assured No Limit ( 5,000/- upto 1 lac & 10,000 above 1 lac ) Policy Mode Yearly,Half-Yearly,Quaterly,Monthly (NACH only) Premium Calculator Rebate Of Mode Of Premium Yearly-- 2% Half-Yearly-- 1% Quaterly & Monthly-- Nil High Sum Assured Rebate 75,000 to 1,90,000 -- Nil 2,00,000 to 4,90,000 -- 2% on B.S.A. 5,00,000 & above  -- 3% on B.S.A. Loan After payment of premiums for at least 3 full years Surrender Allowed after 3 year Revival Within 2 Years of lapse

Survival Benefits & Maturity Benefits 

Option	Survival Benefit	Maturity Benefit
Option 1	No survival benefit	100% of Sum Assured + Bonus + FAB
Option 2	5% of Sum Assured every year for 5 years	75% of Sum Assured + Bonus + FAB
Option 3	10% of Sum Assured every year for 5 years	50% of Sum Assured + Bonus + FAB
Option 4	15% of Sum Assured every year for 5 years	25% of Sum Assured + Bonus + FAB

Death Benefit

• On death before the Date of Commencement of Risk On death after the Date of Commencement of Risk An amount equal to the total amount of premiums paid excluding taxes, extra premium and rider premium, if any, shall be payable. 125% of Sum Assured + Vested Reversionary Bonuses + Final Additional Bonuses, if any

Premium Waiver Benefit Rider

• If this rider is opted for, in case of death of the proposer, the payment of the premiums falling due after the date of death shall be waived.
• Rider is available on payment of additional premium.
• The rider can be opted for along with the basic plan at the inception or at any time as an alteration during the premium paying term provided the outstanding premium paying term is at least 5 years