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Jeevan Tarun

LIC Jeevan Tarun

LIC Jeevan Tarun Plan (Plan No. 834)

LIC's Jeevan Tarun is a limited premium payment plan which is specially designed to meet the educational, marriage and other needs of growing children through Survival Benefits and Maturity Returns. The plan is very flexible wherein proposer can choose any of the four options for Survival Benefit payments from ages 20 to 24 years. Maturity benefit is payable at the age of 25 years only.


  • Children up-to the age of 12 years can be covered
  • Survival Benefits are provided from the age of 20 to 24 years
  • Policy matures at the age of 25 years 
  • Life risk cover is provided to children
  • Additional Premium Waiver Benefit is available for parents/proposer between 18 to 55 years
  • Loan can be taken against the policy
  • Double tax benefit (u/s 80C and u/s 10D) 

Eligibility Conditions

Minimum age at entry
90 days
Maximum age at entry
12 years
Age at Maturity
25 years
Policy Term  
25 – Age at entry
Premium Paying Term
20 – Age at entry
Minimum sum assured
Rs 75,000
Maximum sum assured
No higher limit

Double Tax Benefit

U/S 80 C  : Premiums paid under this plan are eligible for tax rebate u/s 80C
U/S 10(D) : Maturity Returns / Death claim amount is also tax free u/s 10 (D)

Benefits Chart

Survival Benefits
Maturity Benefits
20 years
21 years
22 years
23 years
24 years
25 years
Option 1
100% + Bonuses
Option 2
75% + Bonuses
Option 3
50% + Bonuses
Option 4
25% + Bonuses
Note: All percentages in the above chart are percentage of the Sum Assured.
Note: Once the option is chosen at proposal stage it cannot be altered later on.

Commencement of Risk

For Children less than 8 years: In case the age at entry of the Life Assured is less than 8 years, the risk under this plan will commence either one day before the completion of 2 years from the date commencement of policy or one day before the policy anniversary coinciding with or immediately following the completion of 8 years of age, whichever is earlier.

For Children aged 8 years or more: For those aged 8 years or more, risk will commence immediately.

Possible Events during policy duration

On Death before commencement of risk
If the policy holder(child) dies before the commencement of risk, all premiums paid excluding the extra premium, taxes and rider premiums will be returned.

On Death after commencement of risk
In case, the policy holder(child) dies after the commencement of risk, nominee will get following, and the policy will terminate after that.

1. 125% of Sum Assured
2. Simple Reversionary Bonus
3. Final Additional Bonus (if any)

On Survival / Maturity
The policy holder will get following:

Survival Benefits as per the option chosen at the time of proposal
Maturity Benefits as per the option chosen at the time of proposal 

Understand Jeevan Tarun Plan with an example

Mrs. Suneeta aged 30 years, decides to take Jeevan Tarun Plan for her son named Vaibhav aged 3 years. She chooses the sum assured of Rs 3,00,000.00 (Rupees Three Lakhs only) and Survival Benefit Option 3.

She is required to pay an annual premium of Rs 15,270.00 (Rupees Fifteen Thousand Two Hundred and Seventy only) for 17 years only.

Possible Events

Commencement of Risk
The risk on Vaibhav's life will start after completing 2 policy years.

On Death after commencement of risk
If in case, Vaibhav dies after the commencement of risk, his nominee will receive 125% of Sum Assured i.e. Rs 375,000.00 (Rupees Three Lakhs Seventy Five Thousand only) + Accrued Bonuses. After this, the policy will terminate.

On Survival till maturity
If Vaibhav survives till the end of policy term, he will get following benefits:

10% of Sum Assured every year from the age of 20 to 24 years 
as survival benefit.
50% of Sum Assured + Accrued Bonuses at the age of 25 years as maturity return.

*** To buy a new LIC plan call Vikas 99111-70785 ***

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