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 plans from the public sector insurance major LIC of India. The plan is intended to help parents to meet the 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 the 20th age to the 25th 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 the Educational and Marriage expenses of children having age between 90 days and 12 years of age.
• Money-back is available from 20th to 24th years of age of the children.
• The plan matures at the 25th age of the child.
• Premium needs to be paid only up to 20 years of age of the child. (For example: If the child is having 2 years of age, the premium has to be paid only up to 18 years.)
• The maturity amount and survival benefits available are exempted from Income tax under section 10(10D) of the 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 customize the plan illustration based on the age of the child and the premium you can afford.

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.

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

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.