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.
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 Years (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)
|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|
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