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LIC's Jeevan Tarun Plan

LIC's Jeevan Tarun Plan - Features
LIC's Jeevan Tarun Plan – Benefits
LIC's Jeevan Tarun Plan – Details
LIC's Jeevan Tarun Plan - Eligibility Conditions & Other Restrictions

LIC's Jeevan Tarun Plan - Features

LIC’s Jeevan Tarun Plan is a Non-linked, with-profits, optional money back plan. It is a limited premium plan specially designed to meet the specific expenses such as children education, marriage and other needs in the future. It is for Children Protection and saving. The Premium Waiver Benefit is the most important part of every Child Plan which enables the Policy to continue without any Premiums even if the Proposer is not alive and the Benefits are paid on time to the Child. Depending on the requirement, the proposer can choose any of the 4 options for SB (Survival Benefit) payments from 20 to 24 years of age. Proposer needs to select the option at the proposal stage only. Under Jeevan Tarun Policy Maturity Benefit is payable at the age of 25 years only.

 

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LIC's Jeevan Tarun Plan – Benefits

  • Survival & Maturity Benefits : (provided all due premiums have been paid)                                   Four options under LIC's Jeevan Tarun Policy are given below,
Option Survival Benefits Maturity Benefit
Option 1 No Survival Benefit 100% of Sum Assured
Option 2 5% of Sum Assured every year for 5 years 75% of Sum Assured
Option 3 10% of Sum Assured every year for 5 years 50% of Sum Assured
Option 4 15% of Sum Assured every year for 5 years 25% of Sum Assured
 
  • Premium Waiver Benefits : This rider is opted for, in the case of death of the proposer, the payment of the premiums falling due after the date of death shall be waived off and the policy continues without any Premium.
  • Death Benefit : (provided the policy is In force)

If the Life Assured dies before 1 year from the date of commencement of Risk = Total amount of premium paid – (Taxes + Extra premium + Rider premium).

If the Life Assured dies after the date of commencement of Risk = Sum Assured + Vested Revisionary Bonus + FAB. (as applicable and declared)

This death benefit shall not be less than 105% of the total premiums paid as on date of death.
 

  • Income Tax Benefit :

Premium paid under this plan is eligible for TAX rebate under section 80C of Income Tax Act
Maturity under this plan is 100% Tax free under sec 10(10D)

 

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LIC's Jeevan Tarun Plan – Details

  • Child Plan with money back facility and Guaranteed Returns.
  • Premium Waiver Benefit rider available.
  • Survival & Maturity Benefits are payable under 4 Options.
  • Maturity benefit payable in the form of Sum Assured plus Simple Reversionary Bonus & Final Additional Bonus as applicable and declared.
Rebate on Higher Sum Assured and Mode of Payment

 

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LIC's Jeevan Tarun Plan - Eligibility Conditions & Other Restrictions

LIC's Jeevan Tarun Plan - Eligibility Criteria
  MIN. MAX.
Age 90 Days 12 Years
Term 13 Years 25 Years
Sum Assured 75,000 No Upper Limit
Modes Yearly, Half-Yearly, Quarterly and Monthly (ECS or SSS)

 

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