Jeevan Tarun Plan of LIC plan 834

Jeevan Tarun Plan of Lic (Table No.: 834) is children money back plan which is specially designed for securing children education. This plan gives options to choose survival benefit and helps to ensure financial requirements of child education from 20 to 25 years of child age. This plan can be purchased by parent or grand parent for their 0-12 year old child and very useful with premium waiver rider which provides premium waiver in case of death of guardian during policy term.

Option Name	Survival Benefits	Maturity Benefits
Option 1	No Survival Benefit	100% of Sum Assured
Option 2	5% of Sum Assured every year for 5 years	75% of Sum Assured
Option 3	10% of Sum Assured every year for 5 years	50% of Sum Assured
Option 4	15% of Sum Assured every year for 5 years	25% of Sum Assured

Eligibility Conditions

Age of Entry	90 days to 12 years
Premium Paying Mode	Yearly, Half Yearly, Quarterly, Monthly (ECS Only)
Policy Term	25 - Age at Entry (20 years in case of 5 year old child)
Premium Paying Term	20 - Age at Entry (15 years in case of 5 year old child)
Sum Assured	75000 and above (in multiples of 10000)
Premium Payment Mode rebate	2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly
High Sum assured Rebate (per Thousand of SA)	Rs. 0 on 75,000 to 1,90,000 Rs. 2 on 2,00,000 to 4,90,000 Rs. 3 on SA on 5,00,000 and above
Loan	After 2 Years for less than 10 year term & 3 years for more than 10 year term
Surrender	After 2 Years for less than 10 year term & 3 years for more than 10 year term
Revival	Within 2 Years of Lapse

LIC Jeevan Tarun Policy (Plan No.834) Benefits

Under this LIC Jeevan Tarun optional Money back policy 834 survival benefits, maturity benefits, death benefits, rider benefits are available. Detailed explanation about benefits of LIC Jeevan Tarun Plan 834 are given below.

Death benefits

• If death happens before start of risk, all premiums paid excluding taxes will be paid.
• If death happens after start of risk, then Sum Assured on death (125% of sum assured) + Bonus + FAB will be payable.

Maturity benefit

There are four options available to take the maturity on survival which gives the flexibility to plan and secure future requirements from 20 year of age to 25 year of age child. The four option are explained in following table.

Premium Waiver Benefit Rider (PWB)

This plan can be bought with Premium waiver benefit against life of proposer (Parents or Grand Parents) with additional premium. In case of death of Parents, further premiums will not be required to pay. This rider must be included with this policy to get a complete child plan.

Starting of Risk

• In case, the child is less than 8 year old, then, life cover will start 2 year after policy purchase or completion of 8 year of age, whichever is earlier.
• Example, if child is 2 year old, then life cover (risk) will start after 2 year i.e. when child will become 4 year old and if child is 7 year old then, risk will start when child becomes 8 year old i.e. that is one year after purchasing policy.
• If child is 8 year old at the time of buying policy then, risk will start immediately.

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Ravindra Yadav