LIC Jeevan Tarun (Plan 834)- Details with premium and benefit calculators

LIC Jeevan Tarun (Plan 834) – All details with premium and benefit examples.

Jeevan Tarun is one of the most popular children’s plan from the public sector insurance major LIC of India. The plan is intended to help parents to meet Educational and marriage expenses of their Children.

Educational plans are becoming more and more relevant in the current scenario where educational expenses are soaring high day by day. Jeevan Tarun is designed in such a way that money back at the desired rate can be obtained from 20 th age to 25 th age of the child. Unlike other money back plans from LIC,  the rate of money back obtained can be selected by the customer in this plan. No need to add that this facility offers some degree of  flexibility to the plan.

LIC Jeevan Tarun (plan 834) – Salient Features
  • Plan to meet Educational and Marriage expenses of children having age between 90 days and 12 years of age.
  • Money back available from 20 th to 24 th years of age of the children.
  • Plan matures on the 25th age of the child.
  • Premium need to be paid only up to 20 years of age of the child. (For example: If the child is having 2 years of age, premium has to be paid only up to 18 years.)
  • Maturity amount and survival benefits available are exempted from Income tax under section 10(10D) of income tax act.
  • Tax rebate under section 80 C of Income Tax act can be availed on the Premium paid.
  • Premium Waiver Benefit (PWB)  rider is available as an additional option for Jeevan Tarun.
Premium, Maturity amount and Insurance Coverage calculator – LIC’s Jeevan Tharun 834

Jeevan Tarun Calculator – It is a complete online solution to understand the premium, Insurance coverage and benefit details of Jeevan Tarun policy. You can customise the plan illustration based on the age of the child and the premium you can afford.


Premium and Maturity Calculators – LIC’s Jeevan Tarun (Plan-834)
Premium Calculator – Jeevan Tarun Maturity and Benefit Calculator – Jeevan Tarun

Now let us have a look at the eligibility conditions and important features of the plan.

LIC’s Jeevan Tarun (834) – Eligibility Conditions and Features
Condition Minimum Maximum
Age at entry 90 days (Completed) 12 Years (Last Birth Day)
Sum Assured Rs. 75,000 No Limit
Age at entry(PWB Rider) 18 Years (Completed) 55 Years (Nearer Birthday)
Policy Term 25 – age at entry (Years)
Premium Paying Term 20 – age at entry (Years)

LIC Jeevan Tarun (834) –  Survival Benefit options.
Option Survival Benefit Maturity Benefit
Option 1 No Survival Benefit 100 % Sum Assured + Bonus + FAB
Option 2 5 % of Sum Assured every year for 5 years 75 % Sum Assured + Bonus + FAB
Option 3 10 % of Sum Assured every year for 5 years 50 % Sum Assured + Bonus + FAB
Option 4 15 % of Sum Assured every year for 5 years 25 % Sum Assured + Bonus + FAB

Sample Illustration of Jeevan Tarun – Children’s plan from LIC.

Let us consider the example  to understand the benefits for Jeevan Tarun Plan. Details considered for the illustration are given below.

 

Parameters considered for Jeevan Tarun – Sample Illustration
Age of Proposer 35 Years
Age of Child 0 Years
Sum Assured considered 10,00,000
Term of the plan 25 Years
Premium Paying term 20 Years
Survival Benefit Selected 15% of Sum Assured
Yearly Premium with out PWB 45488
Yearly Premium with PWB 47138
Total Approximate Premium Paid Rs. 9,26,572

On completion of the premium paying term which is 20 years in our case, survival benefit at the rate of 15 % of Sum Assured (Rs. 1,50,000) will be available for 5 years. As the policy holder attains 25 years of age the policy matures and the balance of Sum Assured along with Bonus* and Final Addition Bonus* available will be available.

LIC Jeevan Tarun 834 all details with maturity benefit available.

You can understand the full details of LIC Jeevan Tarun from the benefit illustration given below.

LIC Jeevan Tarun 834 Benefit Illustration

Please note that, these illustrations are just sample illustrations to understand the plan details. If you want to get customised benefit illustration based on the details supplied by you, use the links provided below.

Premium and Maturity Calculators – LIC’s Jeevan Tarun (Plan-834)
Premium Calculator – Jeevan Tarun Maturity and Benefit Calculator – Jeevan Tarun

Note# *The benefit illustrations shown above are just for understanding the basic details of the plan. Please go through LIC web site for more details. Bonus rates shown in the illustration are based on the bonus rates of Jeevan Tarun Plan for the last financial year. Future benefits could vary based on the experiences of Life Insurance Corporation of India from time to time.

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Anish L J

Anish L J is a finance, insurance and software consultant with more than 18 years of experience in these fields. He thoroughly follows developments in insurance and finance. 'INSURANCE FUNDA' (www.insurancefunda.in) is his endeavour to provide simple and solid solutions in the Insurance and Finance sectors.
Follow me

Anish L J

Anish L J is a finance, insurance and software consultant with more than 18 years of experience in these fields. He thoroughly follows developments in insurance and finance. 'INSURANCE FUNDA' (www.insurancefunda.in) is his endeavour to provide simple and solid solutions in the Insurance and Finance sectors.

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