LIC Jeevan Tarun Plan

LIC Education Plan

LIC Jeevan Tarun Plan

LIC Jeevan Tarun Plan

BUY ONLINE LIC'S JEEVAN TARUN PLAN

BUY ONLINE LIC’S THIS PLAN

LIC Jeevan Tarun Plan (LIC TABLE NO 834) is children money back plan which is specially designed for children education.This plan gives options to choose many benefit and helps to ensure financial requirements of child education and carrier from 20 to 25 years of child age.This plan can be purchased by parent and grand parent for their 0-12 year old child and very useful with premium waiver benefit which provides premium waiver in case of death of guardian (proposer) during the policy term.


Key Features

  • This plan to fulfill requirement of child education and carrier
  • 4 Option to select required amount from 20-25 year age of child
  • Premium waiver option which and important for child education and carrier
  • Paid premiums are exempted from income tax under sec 80-C
  • Maturity amount is tax free under sec 10(10D)

Eligibility Conditions

Age of Entry 90 days to 12 years
Premium Paying Mode Yearly, Half Yearly, Quarterly, Monthly (ECS Only)
Policy Term 25 – Age at Entry (20 years in case of 5 year old child)
Premium Paying Term 20 – Age at Entry (15 years in case of 5 year old child)
Sum Assured 75000 and above (multiples of 10000)
Premium Payment Mode rebate 2% on yearly, 1% on Half Yearly, Nil on Quarterly and Monthly
High Sum assured Rebate (per Thousand of S umAssured) 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
Loan After 2 Years for less than 10 year term & 3 years for more than 10 year term
Surrender After 2 Years for less than 10 year term & 3 years for more than 10 year term
Revival Within 2 Years of Lapse

LIC Jeevan Tarun Policy Benefits

    Starting of Risk

  • In case, the child is less than 8 year old, then, life cover will be start 2 year after policy buying or completion of 8 year of age, whichever is earlier.

    Death Benefit:

  • On Death before the Date of commencement of risk:Death benefit = Total no. of premiums paid – taxes, extra premium and rider premium (if any) will be paid to proposer.
  • On Death after the Date of commencement of risk:Death benefit = ‘Sum Assured on death’ + vested Simple Reversionary Bonuses + Final Additional Bonus(if any) will be paid to the proposer.

Survival Benefit:

  • The percentages for various options are given below.
Policy Anniversary coinciding with / following the completion of ages Percentage of Sum Assured to be paid as Survival Benefit
Option 1 Option 2 Option 3 Option 4
20 to 24 years Nil 5% each year 10% each year 15% each year

Maturity benefit

There are 4 options available to take the maturity on survival which gives as under.

Options From 20 -24 year of age At 25 Year of Age
1 0 100% of SA + Bonus + FAB (if any)
2 5% of SA 75% of SA + Bonus + FAB (if any)
3 10% of SA 50% of SA + Bonus + FAB (if any)
4 15% of SA 25% of SA + Bonus + FAB (if any)

Premium Waiver Benefit Rider (PWB)

This plan can be buy with Premium waiver benefit against life of proposer (Parents or Grand Parents) with additional premium. In case of death of proposer, further premiums will not be required to pay. This waiver benefit must be included with this policy to get a complete child plan.

Benefit Example for LIC  jeevan tarun plan

To Illustrate the benefits of LIC Jeevan Tarun plan, Lets take an example Mr. Sandeep Meena whose age is 30 years old and who is purchasing this plan for his 1 year old child.
Father (Proposer) Age : 30 Years
Child Age: 1 Years
Sum Assured: Rs. 7,00,000
Policy Term: 24 (25-1) Years
Premium Paying Term: 19 (20-1) Years
Policy Purchase Year: 2016

Following table explains approximate premium to be paid and money back amounts along with maturity which will be available from 20 to 25 year age of child.

Options Premium (yearly) From 20 -24 year of age At 25 Year of Age
1 32076 0 1785000
2 32879 35000 Each year 1610000
3 33683 70000 Each year 1435000
4 34486 105000 Each year 1260000

Year-wise Death Claims-option 1.

Year Age Risk Cover Normal Risk Cover Accidental Premium Tax Saved Net Premium Amount Received
2016 1 30142 30142 32076 9286 22790 0
2017 2 60284 60284 31515 9286 22229 0
2018 3 980000 980000 31515 9286 22229 0
2019 4 1015000 1015000 31515 9286 22229 0
2020 5 1050000 1050000 31515 9286 22229 0
2021 6 1085000 1085000 31515 9286 22229 0
2022 7 1120000 1120000 31515 9286 22229 0
2023 8 1155000 1155000 31515 9286 22229 0
2024 9 1190000 1190000 31515 9286 22229 0
2025 10 1225000 1225000 31515 9286 22229 0
2026 11 1260000 1260000 31515 9286 22229 0
2027 12 1295000 1295000 31515 9286 22229 0
2028 13 1330000 1330000 31515 9286 22229 0
2029 14 1365000 1365000 31515 9286 22229 0
2030 15 1414000 1414000 31515 9286 22229 0
2031 16 1452500 1452500 31515 9286 22229 0
2032 17 1491000 1491000 31515 9286 22229 0
2033 18 1529500 1529500 31515 9286 22229 0
2034 19 1575000 1575000 31515 9286 22229 0
2035 20 1624000 1624000 0 0 0 0
2036 21 1680000 1680000 0 0 0 0
2037 22 1750000 1750000 0 0 0 0
2038 23 1855000 1855000 0 0 0 0
2039 24 1960000 1960000 0 0 0 0
2040 25 0 0 0 0 0 1785000

With the help of above illustration, we can understand that LIC Bima plan 834 allows to plan,children education and marriage needs from 20 to 25 year age.

href=”https://customer.onlinelic.in/premium_calculator.htm”>Calculate LIC Jeevan Tarun Premium-Click Here

Services that I offer

  • New LIC Policy Quotes and Completion
  • Complete guidance
  • Doorstep Premium Collection Service
  • Personalized Policy Recommendations
  • Renewal / Revival of Lapsed Policies
  • Human Life Value Calculation
  • Life Time Services

FOR MORE INFORMATION PLEASE CONTACT -:

BASPA NAND PANCHOLI

CON.9891009400

      OR

WHATS APP FOR LIC PLAN

WHATS APP FOR LIC PLAN

 

 

 

 

 Emailbasupancholi@gmail.com

To know about LIC Plans please visit our website

www.licbestplan.in

Office Address:-25,KG,Marg,Jeevan Prakash Building.

LIC of India,Branch Unit-117.

3rd floor,C.P. New Delhi-110001.

LIC CHILDREN PLANS

LIC New Children’s Money Back Plan

 LIC Jeevan Tarun Plan

3 thoughts on “LIC Jeevan Tarun Plan

    1. B.N.PANCHOLI Post author

      To,
      Mr : Pawan

      Plan : Jeevan Tarun (834)
      If your baby just born
      Baby Age : 0
      Term : 25
      PPT : 20
      Sum Assured :300000
      Death S.A. :375000
      Option 4 Selected : 15% S.A. For 5 Years,M.B.25% S.A.
      PWB Rider : Yes
      Proposer Age : 25

      1st year Premium With TAX 3.75% :
      Yearly : 14306 (13789 + 517)
      Halfly : 7231 (6970 + 261)
      Quarterly : 3655 (3523 + 132)
      Monthly(ECS) : 1218 (1174 + 44)
      YLY Mode Average Prem/Day : 39

      After 1st year Premium With TAX 1.875% :
      Yearly : 14048 (13789 + 259)
      Halfly : 7101 (6970 + 131)
      Quarterly : 3589 (3523 + 66)
      Monthly(ECS) : 1196 (1174 + 22)
      YLY Mode Average Prem/Day : 38

      Total Approximate Paid Premium : 281218

      Money Back At :

      20 to 24th Total 5 Year : 45000
      Bonus : 360000
      F.A.B. : 135000
      Approximate Return at Maturity Time 25th Year (25 % SA + Bonus + F.A.B.) :
      570000

      Total Approximate Return : 795000

      Reply

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