LIC’S JEEVAN TARUN PLAN
Lic’s Jeevan Tarun Plan gives you the best saving and protection benefits for your children and this plan is a non-linked and limited premium plan which offers facilities to your growing children need especially for education and marriage annual survival benefits are from the age of 20 to 42 years and maturity benefit at the age of 25 years.
Min Basic Amount Assured: Rs 75,000
Max Basic Amount Assured: No Limit
Policy Time: 25 years age at entry of the child
Time of premium payment: 20 Years
Min Entry Age: 0 Years
Max Entry Age: 12 Years
Max Age at Maturity for Life Assured: 25 years
Premium Payment Mode: Monthly, Quarterly, Half-yearly, Yearly
LIC’S JEEVAN TARUN PLAN BENEFITS
1 Survival Benefit: some options to choose
- No survival maturity benefit 100% sum assured
- From age of 20 to 24 year 5% of sum assured every year for 5 years, maturity benefit 75% of sum assured.
- From age of 20 to 24 year 10% of sum assured every year for 5 years, maturity benefit 50% of sum assured.
- From age of 20 to 24 year 15% of sum assured every year for 5 years, maturity benefit 25% of sum assured.
2 Death Benefit: on death before the date of commencement of risk
An amount equal to the total amount of premium paid excluding taxes, extra premium, and rider premium, if any shall be payable.
on death after the date of commencement of risk
Sum Assured + Vested Bonus + FAB if any
Sum Assured is higher of 10 times of Annualized Premium or 105% of all premiums paid on death or 125% of basic sum assured.
3 Surrendered Value Benefit: the Policyholder can surrender his policy at any time during his policy term but the condition is that three full years premium is paid.
4 Loan Benefit: After payment of premium for three full years than you can use loan facility.
5 Income Tax Benefit: Tax Rebate is available when you pay the premium under this plan section is 80c and under sec 10(10D) maturity is free for this plan.