LIC’S JEEVAN TARUN (TABLE NO.834)

LIC’s JEEVAN TARUN PLAN is a children plan.This plan cover your children financial requirements and future needs. This is a flexible plan , specially designed to meet the educational needs of growing children. Here you will get some money back in 5 intervals (in 20th,21st,22nd,23rd and 24thyear) during the policy term of 25 year. Maturity benefits payable at the age of child 25 years only.

WHY CHOOSE THIS PLAN:

  • Children plan
  • Fulfill the various financial need of growing child.
  • Maturity will get age of child 25 years.
  • Money back available in 5 regular intervals (20 , 21 , 22, 23, 24 year).
  • Premium Waiver Rider available.

BENEFITS OF PLAN:

ON DEATH: BEFORE COMMENCEMENT OF RISK an amount equal to the total amount of premium paid , excluding taxes , extra premium ,if any, shall be payable.

ON DEATH: AFTER COMMENCEMENT OF RISK sum assured , vested simple reversionary bonus and final additional bonus , if any, shall be payable.

ON SURVIVAL: There are 4 options to get survival or maturity benefits:-

OPTION 1: If policyholder don’t want to get any money back between 20 to 24 year then he/she will get 100% of basic sum assured + bonus + final additional bonus (if any) on maturity 25th year.

OPTION 2: If policy holder want to get 5% of money back in 4 intervals between 20 to 24 year then he/she will get 75%of basic sum assure +bonus +final additional bonus(if any) on maturity 25th year.

OPTION 3: If policy holder want to get 10% of money back in 4 intervals between 20 to 24 year then he/she will get 50%of basic sum assured +bonus +final additional bonus(if any) on maturity 25th year.

OPTION 4: If policy holder want to get 15% of money back in 4 intervals between 20 to 24 year then he/she will get 25%of basic sum assured +bonus +final additional bonus(if any) on maturity 25th year.

ON MATURITY: On maturity at 25th year policy holder will get sum assured , vested reversionary bonuses ,and final additional bonus , if any, shall be payable.

PLAN PARAMETERS

Age of Entry90 days to 12 years
Premium Paying ModeYearly, Half Yearly, Quarterly, Monthly
Policy Term25 – Age at Entry (20 years in case of 5 year old child)
Premium Paying Term20 – Age at Entry (15 years in case of 5 year old child)
Sum Assured75000 and above (in multiples of 10000)
Premium Payment Mode rebate2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly
High Sum assured Rebate (per Thousand of SA)Rs. 0 on 75,000 to 1,90,000
Rs. 2 on 2,00,000 to 4,90,000
Rs. 3 on SA on 5,00,000 and above
LoanAfter 2 Years for less than 10 year term & 3 years for more than 10 year term
SurrenderAfter 2 Years for less than 10 year term & 3 years for more than 10 year term
RevivalWithin 2 Years of Lapse

 

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