Lic’s Jeevan Tarun plan Which is launched on the Heading of Table No. 834 is non-linked, with profits, Limited Premium Payment plan Which is Specially designed to meet the Educational and other needs of growing children. under this LIC Jeeven Tarun Money Back policy Table No. 834, Policy holders can get the benefit of the survival benefit payment from the 20-24 years and maturity benefit will be starting from the 25 Years age. LIC Jeevan Tarun Policy (Plan No.834) is a limited premium payment money back plan.
|Option Name||Survival Benefits||Maturity Benefits|
|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|
LIC Jeevan Tarun Policy (Plan No.834) Eligibility Conditions
|Entry Age (in Years)||
|Maximum Maturity Age||
|Sum Assured (SA)||
|Premium Paying term (PPT)||
Premium pay Mode : Yearly,Half , Quarterly,Monthly(ECS) and also via online by visiting the licindia official websites.
Policy Benefits :
ON DEATH: On death before the date of Commencement of Risk:An amount equal to the total amount of premium’s paid excluding taxes,extra premium and rider premium,if any shall be payable.
On death after the date of commencement of Risk:Death benefit,defined as sum of sum Assured on Death and vested simple Reversionary Bonuses and Final Additional Bonus,if any ,shall be payable.Where Sum Assured on Death is defined as higher of 10 times of annualized premium or Absolute amount assured to be paid on death i.e. 125% of Sum Assured.This death benefit shall not be less than 105% of the total premiums paid as on date of death.
SURRENDERED VALUE : This Jeevan Tarun Policy can be Surrendered at any time during The policy term provided at least 3 full years premiums have been paid completed.
LOAN : Loan Available Under this Money Back plan after the Payment of Premiums for at least 3 full years
INCOME TAX BENEFIT : Premium paid under this plan is eligible for TAX rebate under section 80c. and Maturity under this plan is free under sec 10(10D).