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LIC's Jeevan Tarun 834

Plan Number: 834

Plan name: LIC's Jeevan Tarun Insurance plan

 

Maturity & Survival Benefits:


Maturity & Survival benefits of the Jeevan Tarun policy is paid to the life assured (child) in the last 5 years of policy i.e. from 20 year to 24 year of age of the child.

Option Survival Benefit Maturity Benefit
Option 1 No Survival Benefit 100% of Sum Assured
Option 2 5% of Sum Assured every year for 5 years 75% of Sum Assured
Option 3 10% of Sum Assured every year for 5 years 50% of Sum Assured
Option 4

15% of Sum Assured every year for 5 years

25% of Sum Assured

 

Options available under the plan:
Option 1: No survival benefit payable during the policy term and entire 100% of Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable on maturity.
Option 2: Annual payment of 5% of Sum Assured every year starting from policy anniversary coinciding with or following the completion of 20 years of age and thereafter on each of the next 4 policy anniversaries shall be payable. The balance of 75% of Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable on maturity.
Option 3: Annual payment of 10% of Sum Assured every year starting from policy anniversary coinciding with or following the completion of 20 years of age and thereafter on each of the next 4 policy anniversaries shall be payable. The balance of 50% of Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable on maturity.
Option 4: Annual payment of 15% of Sum Assured every year starting from policy anniversary coinciding with or following the completion of 20 years of age and thereafter on each of the next 4 policy anniversaries shall be payable. The balance of 25% of Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable on maturity.

LIC Jeevan Tarun Plan Eligibility and Other Features:


    • Minimum Entry Age: 90 days
    • Maximum Entry Age: 12 years
    • Minimum/Maximum Maturity Age: 25 years
    • Policy term: 25 years – Age at entry (years)
    • Premium Paying Term: 20 years – Age at entry (years)
    • Minimum Sum Assured: Rs.75,000/-
    • Maximum Sum Assured: No limit
    • Premium Payment Mode: All Modes
    • Premium Waiver Benefit Rider: Available
    • Proposer’s Minimum Age: 18 years
    • Proposer’s Maximum Age: 55 years

    Note:

    1. Sum Assured (SA) shall be in multiples of Rs.5,000/- from SA Rs.75,000/- to Rs.1,00,000/- and Rs.10,000/- for SA above Rs.1,00,000/-.

    2. Proposer can be either parent or legal guardian aging between 18 years to 55 years.

    3. Premium Waiver Benefit Rider: An optional rider available by paying extra premium under which if the proposer of the plan dies, the premium becomes due after the death of the proposer shall be waived and plan will be continued up to the maturity term as if all the premiums are paid on time.

     

    LIC Jeevan Tarun Plan: Death Benefits, Maturity & Survival Benefits


    Death Benefits:

    1. If death of the life assured (child) occurs before the commencement of risk, amount equals to all premiums paid (excluding taxes, extra premium and rider premium) will be paid.

    2. If death of the life assured (child) occurs after the commencement of risk, amount equals to

    Sum Assured + Simple Revisionary Bonuses + Final Additional Bonus (if any)

    will be paid.

    Note:

    If the policy term is higher than 10 years, the minimum sum paid on the death of the life assured cannot be less than 105% of the total premiums paid.

 

 

 

 

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