LIC’s Jeevan Tarun Plan Table No. 834

LIC’s Jeevan Tarun Money back Table No. 834 is a plan with a Limited premium paying terms up to the Child’s age of 20, non-linked Endowment, Assurance Plan with Profit.

0 %, 5%, 10% 0r 15 % as selected of Basic Sum Assured will take place at the age of 20 to 24th Year of Child.

Sum Assured: Minimum limit for the sum assured is Rs. 75,000/- and there is no maximum limit.

Policy Term: up to Age 25 Year

Premium Paying Term: up to Age 25 Year.

Entry Age: 90 days to 12 Year.

Maturity Age: 25 Years.

Premium Payment Mode: Premium can be paid Monthly, Quarterly, Half Yearly or Yearly.

Money Back: Money back will be transferred to the account of Insurer at the age of 20 to 24 Years (total 5 years). The Cash back value will be 0%, 5%, 10% or 15% as per selected plan of Basic Sum Assured.

Maturity Benefits: on maturity, Remaining % of basic sum assured along with vested simple reversionary bonus and the final additional bonus is paid to the policy holder.

Death Benefits: 

If the Death happens before the commencement of risk, the nominee will get an amount equal to total amount of paid premium’s excluding taxes and rider premium, if any.

If the Death happens after the commencement of risk, the nominee will get:
Base Sum Assured + Simple Reversionary Bonus (every year) + Final Additional Bonus (applicable in the year of death)

Rider benefits: Premium Waiver benefit is available during the policy term; if the person paying a premium of the child gets death remaining premium will be waived off if Premium Waiver Benefit rider is taken. There is approximately Rs 1,200/- extra premium to be paid for this benefit for BSA Rs. 10,00,000/-

Income Tax Benefit: Premium paid in this policy is tax exempted under section 80C. The maturity benefits are also exempted from tax under section 10(10D).

Liquidity Benefit: Policy holder can take a loan under this policy after completion of 3 full years of the Policy.

For simplicity study following table

PlanJeevan Tarun
Min Age90 Days
Max Age12 Year
Max Maturity Age25 Year
Policy TermUpto Age 25 Year
Premium Paying TermUpto Age 20 Year
Min Sum AssuredRs. 75,000/-
Max Sum AssuredAny
Payment ModeAll
Surrender3 Years

An example of LIC’s Jeevan Tarun Plan Table No. 834

This plan is available for 90 days to a 12-year-old child, but Here we have taken an example for Rs. 10,00,000/ Basic Sum Assured for a child of 1 Year, 2 Year, 3 Year and 4 Year. 

From this, it can be concluded the effect of child age on premium amount and returns.

Here calculated premium is excluded PWB.

“Jeevan Tarun” Table 834

Basic Sum Assured: Rs. 1000000/-

PlanJeevan TarunJeevan TarunJeevan TarunJeevan Tarun
Age of Child1 Year2 Year3 Year4 Year
Premium Paying Term19 Year18 Year17 Year16 Year
Policy Term24 Year23 Year22 Year21 Year
Basic Sum AssuredRs. 10,00,000/-Rs. 10,00,000/-Rs. 10,00,000/-Rs. 10,00,000/-
Death Sum AssuredRs. 12,50,000/-Rs. 12,50,000/-Rs. 12,50,000/-Rs. 12,50,000/-
Premium First YearRs. 48,377/-Rs. 51,398/-Rs. 54,880/-Rs. 58,874/-
Premium second Year OnwardsRs. 47,336/-Rs. 50,292/-Rs. 53,699/-Rs. 57,607/-
Total Premium PaidRs. 9,00,425/-Rs. 9,06,362/-Rs. 9,14,064/-Rs. 9,22,979/-
Money Back At the Year20,21,22,23,2420,21,22,23,2420,21,22,23,2420,21,22,23,24
Money back %0,5,10 0r 15%
Whichever Selected
0,5,10 0r 15%
Whichever Selected
0,5,10 0r 15%
Whichever Selected
0,5,10 0r 15%
Whichever Selected
Total Money BackRs. 1,50,000/- X 5 Year
Rs. 1,50,000/- X 5 Year
Rs. 1,50,000/- X 5 Year
Rs. 1,50,000/- X 5 Year
Maturity ReturnRs. 17,52,000/-Rs. 16,04,000/-Rs. 14,56,000/Rs. 13,58,000/-
Total ReturnRs. 25,02,000/-Rs. 23,54,000/-Rs. 22,06,000/-Rs. 21,08,000/-
Life Time CoverNANANANA

Above Calculations are approximate and according to current bonus rate. It may vary according to the rate of bonus and taxes.

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