Jeevan Tarun (Plan No.: 934)
"Don't wait! The earlier you start saving, the more your child will benefit in the long run."
It is a money-back guarantee policy that provides good returns in the form of survival benefits at the ages of 18, 20, and 22 of a child to cover higher education costs. Children between the ages of 0 and 12 years can purchase a policy with a maturity age of 25 years. The life of a child while the policy is in effect is also covered by this plan.
Policy Advantages
-
Money Back with Periodic Survival Benefits
Money back at the ages of 18 years, 20 years, and 22 years to cover the child's education needs, and a lump sum maturity at the age of 25 years to cover the child's marriage expenses.
-
Reinvestment option
Periodic Survival Benefits in the form of Money Back can be reinvested in other policies and used in conjunction with the maturity amount.
-
Profit Sharing as per Valuation
Every year, LIC publishes its valuation results. According to the valuation results announced by LIC, profit is being distributed as a bonus to all policyholders.
-
Premium Waiver Benefit
By paying a small additional premium, you can secure your life in the event of a sudden death, which waives future premiums and allows you to continue the policy with guaranteed returns to fulfil your child's dream even if you are not present.
So, What you are waiting for ? Fill your details to select the Plan.
Only certified LIC expert will assist you
Product Specification:
Minimum | Maximum | ||
Entry Age (Last Birthday) of Child | 90 days | 12 years | |
Maturity Age (Last Birthday) of Child | – | 25 years | |
Maturity Age (Last Birthday) of Proposer | – | No Limit unless Premium Waiver Benefit rider has been opted for | |
Policy Term (PT) in years | 25 – Age at the entry of the child | ||
Premium Paying Term (PPT) in years | 8 | 20 | |
Premium Paying Frequency | Annual, half-yearly, quarterly, and monthly | ||
Sum Assured | Rs 75000 | No Limit |
Premium Waiver Benefit (PWB) Rider – optional
Minimum Entry Age : 18 Years (completed)
Maximum Entry Age : 55 Years (Nearer Birthday)
Maximum cover ceasing age : 70 Years (Nearest Birthday)
Maturity Benefits:
Option | Survival Benefit | Maturity Benefit |
Option 1 | No Survival Benefit | 100 % of Sum Assured + Vested Bonus + Final Additional Bonus, if Any |
Option 2 | 5 % of Sum Assured from Age 20 Years to 24 Years | 75 % of Sum Assured + Vested Bonus + Final Additional Bonus, if Any |
Option 3 | 10 % of Sum Assured from Age 20 Years to 24 Years | 50 % of Sum Assured + Vested Bonus + Final Additional Bonus, if Any |
Option 4 | 15 % of Sum Assured from Age 20 Years to 24 Years | 25 % of Sum Assured + Vested Bonus + Final Additional Bonus, if Any |
Eligibility Conditions:
Minimum Sum Assured | Rs. 75,000 |
Maximum Sum Assured | No Limit |
(The Sum Assured shall be in multiples of 5,000 from Sum Assured 75,000 to 100,000 and 10,000/- for Sum Assured above 100,000) | |
Minimum Age at entry | [90] days (last birthday) |
Maximum Age at entry | [12] years (last birthday) |
Minimum/ Maximum Maturity Age | [25] years (last birthday) |
Policy Term | [25 – Age at entry] years |
Premium Paying Term (PPT) | [20 – Age at entry] years |
Document Required:
To obtain the policy, you must provide proper documentation to support your application. The following documents are required:
♦ Address verification Medical history
♦ Understand your customer documents.
♦ Medical evaluation (depending on your age or the sum assured)