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LIC Jeevan Tarun : Best gift for your child's golden future, returns up to Rs.28 lakh with LIC Jeevan Tarun

Hindustan Times | August 19, 2024 3:36 PM CST

LIC Jeevan Tarun : The LIC Jeevan Tarun policy offers a hassle free education and marriage plan for your children when they reach the age of 25 years. If you pay a premium of Rs.171 every day till the age of 20, you will get a maturity of Rs.28 lakh.

LIC Jeevan Tarun Qualifications

Minimum entry age for your children to take LIC Jeevan Tarun policy is 90 days and maximum is 12 years. Upto 20 years you have to pay premium. So if your child is 8 years old when taking the plan (20-8=12) you will pay premium for 12 years. After that there will be a lock-in period of five years. That means you don't have to pay any premium for 5 years. The policy matures when these children reach the age of 25 years . Parents or guardians can purchase this plan for children aged 9 months to 12 years. You have four options in this plan. You can benefit from these options.

At least Rs.75 thousand

Policyholders can also avail the loan after getting the surrender value. In this policy at least Rs. 75,000 Basic Sum Assured should be selected. Maximum amount can be paid. Premium payments can be paid every month, 3 months, six months, yearly. LIC Jeevan Tarun is a way to save with the future needs of children in mind. Let's know how the returns will be in this scheme. Suppose your daughter is 5 years old. The policy tenure is 15 years depending on her age. But you have to pay premium for 15 years. You decide to pay a total of Rs.1 lakh. Out of the four options available in this plan, the fourth one is chosen. Your daughter will get 15% survival benefit every year from age 20 to age 24. In 25 years the maturity benefit is equal to 25%. Bonus will be given depending on this.

You can get an annual premium of Rs. 6200 will be paid as premium. For 15 years around Rs. 93,000 will be paid. After attaining the age of 20 years, under the selected plan your daughter will get Rs. 15,000 or 15% of the sum assured. This amount will be paid till she turns 24. On her 25th birthday the balance of the plan is Rs. 25,000 will be paid.

	Survival Benefit (% of Sum Assured) (Age 20 to 24 years)	Maturity Benefit (% of Sum Assured)
Option 1	zero	100 percent
Option 2	5% per annum	75 percent
Option 3	10% per annum	50 percent
Option 4	25 % per annum	25 percent

If you pay the premium (Rs. 5035 per month, Rs. 59107 per year) for 18 years from the birth of your baby (amount of Rs. 12 lakhs), your investment will be Rs. 10,891 lakhs. When your baby reaches 25 years of age, bonus and other benefits will be Rs. 28.24 lakhs will be received.

Disclaimer: This article is provided for your understanding only. Consult an expert before investing in any policy.