Jeevan Tarun Policy [ Number 834 ]
LIC’s Jeevan tarun policy is Plan No. 834 and stated as optional money back policy.
It is a non-linked policy, which has profit plans designed for children, to cope up with their financial problems. It helps in fulfilling their educational needs, as well.
This is a limited premium payment plan, with money back guarantee. It is flexible to offer various forms of benefits to clients.
By paying some additional premiums, you will be able to achieve services of LIC Premium Waiver Benefit Rider. Within this plan, the maturity benefit will be payable at 25 years of age, and survival benefits are payable for last 5 years.
Benefits of Jeevan Tarun plan:
With the help of this policy, you will be able to enjoy various advantages of LIC jeevan tarun now. Some of the basic options are death benefits, survival benefits, maturity benefits and more.
In case, the policyholder has taken survival benefits, then he has the right to choose from any of the four options provided. Those four options are no survival benefit, 5% of assured sum for
5 years, always, 10% of the assured sum for every year, continuing till 5 years and 15% of assured sum for the next 5 years, on yearly count.
Some of the eligibility conditions:
If you are willing to take up the advantages of LIC jeevan tarun, then better get started with the eligibility criteria. The minimum age bar is 90 completed days and maximum is 12 years, after calculating the last birthday.
The maximum maturity age is 25 years, after calculating last birthday. For the assured sum, the minimum amount is 75000 rupees and there is no particular limit for maximum amount. For premium paying term or PPT, the age is minimum 20 entry age in years.
Some of the other benefits:
Apart from the points mentioned above, with the help of Jeevan tarun policy, students have the right to take loans if they want to. Moreover, the same plan also takes care of the liquidity needs, with the help of loan facility.
Any parent or grandparent, for a child, aged between 0 and 12 years, can purchase this policy. Under “in-force policy,” there are certain benefits available.
Some of those options are death benefits during long term policy, before and after commencement of risk, maturity benefit, where a fixed sum will be paid for “in-force maturity policy” and other relevant notifications.
Additionally, final additional bonus and simple reversion bonuses can also be made payable, if any.