LIC Jeevan Tarun Plan

LIC Jeevan Tarun Plan is a Traditional Participating Anticipated Endowment Plan wherein the premium needs to be paid only for a limited period and the plan continues for the entire period. This plan has been specially designed to meet the educational expenses of a growing child.

LIC Jeevan Tarun Plan is a new money back plan by LIC . LIC Jeevan Tarun Plan is launched by LIC of India. The money back is optional in this plan. LIC Jeevan Tarun Plan is a non-linked with profit policy and is designed for children educational requirement. LIC Jeevan Tarun Plan is a limited premium payment plan with money back option. LIC Jeevan Tarun Plan is a plan which provides Death benefits, Maturity benefits and Survival benefits to the policy holder. Premium Waiver Benefits is also available in LIC Jeevan Tarun Plan.

In this plan, the premium needs to be paid till the child is 20 years old but the policy continues till he is 25 years old. Thus the last 5 years, when the payout can be taken, the premium does not need to be paid but the policy continues till its maturity, i.e. the child is 25 years old. Thus, this plan is a Limited Payment Policy.

In this plan, the policyholder has the option to select the Survival Benefit from the 4 options provided wherein the money back comes only in the last 5 policy years from the first policy anniversary after the child is 20 years old and continues till he is 25 years old and then terminates on the policy anniversary after he is 25 years old after paying the Maturity Benefit and accrued bonuses.

LIC Jeevan Tarun Plan

LIC Jeevan Tarun Plan

Thus, if the policyholder opts for any of the Options listed above, he would receive the Survival Benefit likewise in the last 5 policy years when he doesn’t need to pay any premium. The remaining Sum Assured along with vested Bonus, if any would be payable to him on the maturity of the policy as Maturity Benefit and the policy would terminate.

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