Kasinathan Insurance Consultant

Product Summary:

LIC JEEVAN TARUN is a participating non-linked limited premium payment plan which offers an attractive combination of protection and saving features for children. This plan is specially designed to meet the educational and other needs of growing children through annual Survival Benefit payments from ages 20 to 24 years and Maturity Benefit at the age of 25 years.

Minimum age:90 days completed

Maximum age:12 years

Policy Term:25 Age at entry years

Premium paying term:20 Age at entry years

Minimum Sum Assured:Rs. 75,000

Maximum Sum Assured:No limit

Premium payment:Yearly / Half yearly / Quarterly / Monthly 

Benefits:

Money back options:

OPTION 1 - No money back is paid (100% of Sum assured + Bonus is paid at age 25 years)
OPTION 2 - 5% of Sum assured is paid every year for 5 years from child age 20 to 24 years
OPTION 3 - 10% of Sum assured is paid every year for 5 years from child age 20 to 24 years
OPTION 4 - 15% of Sum assured is paid every year for 5 years from child age 20 to 24 years

Loan:Available after 3 years

Surrender:Available after 3 years

On Maturity:

OPTION 1 - 100% of Sum assured + Bonus at child age 25 years
OPTION 2 - 75% of Sum assured + Bonus at child age 25 years
OPTION 3 - 50% of Sum assured + Bonus at child age 25 years
OPTION 4 - 15% of Sum assured + Bonus at child age 25 years

Premium waiver benefit:Available from age 18 years to 55 years of proposer

Income Tax Benefits:(i) Premiums paid are eligible for Tax rebate u/s 80c
                                   (ii) Maturity amount / Death claim is non-taxable u/s10(10d)