LIC JEEVAN TARUN
Secure Tomorrow’s Smile Today
LIFE INSURANCE
Your Lifelong Shield of Financial Security
LIC JEEVAN Tarun
LIC’s Jeevan Tarun is a non-market linked participating insurance plan designed to provide savings and life cover for your child’s future. It offers the flexibility of limited premium payments and multiple repayment options, including money-back and lump-sum maturity benefits.
Repayment Options:
- Option 1: No survival benefit; 100% of Sum Assured + Vested Bonuses at maturity.
- Option 2: 5% of Sum Assured annually for 5 years; 75% of Sum Assured + Vested Bonuses at maturity.
- Option 3: 10% of Sum Assured annually for 5 years; 50% of Sum Assured + Vested Bonuses at maturity.
- Option 4: 15% of Sum Assured annually for 5 years; 25% of Sum Assured + Vested Bonuses at maturity.
Key Features:
- Survival Benefit: Starts when the child turns 20, continuing until age 24, based on the chosen option.
- Maturity Benefit: Paid when the child reaches 25 years, including Vested Simple Reversionary Bonuses and Final Additional Bonuses accrued during the policy term.
- Death Benefit: If the policyholder passes away during the term, the nominee receives a ‘Sum Assured on Death’ along with accrued bonuses, ensuring financial security for the child’s future education.
- Rider Option: Additional Premium Waiver Benefit Rider available, waiving off remaining premiums in case of the proposer’s death during the policy term.
Policy Details at a Glance:
- Sum Assured:Â Rs. 75,000 onwards, with no upper limit.
- Proposer:Â Parent or grandparent.
- Age Eligibility:Â Child’s age from 90 days to 12 years at entry.
- Maturity Age:Â Policy matures when the child turns 25.
- Policy Term:Â 25 years minus the child’s age at entry.
- Premium Paying Term:Â Flexible from 8 to 20 years.
- Premium Paying Mode:Â Monthly, Quarterly, Half-Yearly, Yearly.
- Surrender Value: Policy acquires surrender value after payment of at least three premiums.
- Loan: Option to avail loan against the policy after payment of at least three premiums.
Premium Illustration Chart
The chart below shows the annualized premium for a Sum Assured of Rs. 10,00,000. The premium paid varies according to the age of the child.
- Sum Assured: Rs. 10,00,000
- Age of child: 3 month
- Policy Term: 25 Years
- Premium Paying Term: 20 Years
Benefit Illustration Chart
