LIC Jeevan Tarang Plan

LIC Jeevan Tarang Plan is a with-profits, whole of life plan. The plan provides annual survival benefits at the rate of 5½ % of the Sum Assured after the policy owner chooses an Accumulation Period. Also the vested bonuses are payable as a whole on the survival to the end of the Accumulation Period or as live cover that is if the policy owner, expires during the policy term. Also the Sum Assured, as well as the Loyalty Additions, if any, is paid on survival to age 100 years or in the case of earlier death.

Eligibility Criteria LIC Jeevan Tarang Plan

The following are basic requirements for applying for this whole life insurance plan:

Minimum entry age 0.
Maximum entry age 60 years.
Minimum age at maturity -
Maximum age at maturity 100 years.

Key Features of LIC Jeevan Tarang Plan

Here are simply illustrations of the key features of this plan:

Plan type Whole life insurance plan.
Plan basis Individual
Premium paying terms The individual has to keep paying premiums up to the age of 70 years.
Policy term Whole life insurance
Accumulation Period There are 3 terms for the same which include 10, 15 and 20 years.
Death Benefits Sum assured as well as the loyalty additions are paid out.
Maturity benefits The Sum Assured, as well as the Loyalty Additions, if any, is paid on survival to age 100 years or in the case of earlier death.
Premium payment frequency SSS, Single, Half-yearly, Yearly, Quarterly or Monthly
Guaranteed Additions Annual Survival Benefit: The plan provides annual survival benefits at the rate of 5½ % of the Sum Assured after the policy owner chooses an Accumulation Period.
No Medicals The plan can be taken without any medicals by answering a few questions.
Free-look period 15 days for manually purchased policy
Grace period 15 days for monthly mode polices 30 days for yearly, half-yearly and quarterly mode policies.
Policy revival The policy can revived within 5 years from the date of 1st premium missed. Subject to the discretion and satisfaction of the company.
Alterations The policy allows alteration of premium paying frequency.
Nomination Nomination is accepted under this policy.
Sum Assured Minimum: Rs. 1 lac Maximum: There is no limit.
Loan Against Policy You can take a loan against this policy if necessary, but the interest rates are dependant of the corporation's discretion. Currently, the rate of interest is 9 % per annum and is payable half-yearly.

Benefits and Advantages of LIC Jeevan Tarang Plan

The major advantages of the LIC Child Plan include:

  1. Sum assured as well as the loyalty additions are paid out as death benefit. Also, loyalty bonuses are paid out, if any.
  2. The Sum Assured, as well as the Loyalty Additions, if any, is paid on survival to age 100 years or in the case of earlier death.
  3. Annual Survival Benefit: The plan provides annual survival benefits at the rate of 5½ % of the Sum Assured after the policy owner chooses an Accumulation Period.
  4. Loan Against Policy: You can take a loan against this policy if necessary, but the interest rates are dependant of the corporation's discretion. Currently, the rate of interest is 9 % per annum and is payable half-yearly.
  5. Tax Benefits: Premiums that have been paid for this life insurance policy are tax exempted under Section 80C and the maturity benefits are tax exempted under Section 10 (10D) of the Income Tax Act.
  6. The policy can be returned by the policy owner within 15 day of policy commencement incase he or she is dissatisfied with the terms and conditions.
  7. Rebates: There are special rebates available on premiums based on high sum assured as well as well as payment mode rebates.

How LIC Jeevan Tarang Plan Works

The plan provides annual survival benefits at the rate of 5½ % of the Sum Assured after the policy owner chooses an Accumulation Period. Also the vested bonuses are payable as a whole on the survival to the end of the Accumulation Period or as live cover that is if the policy owner, expires during the policy term. Also the Sum Assured, as well as the Loyalty Additions, if any, is paid on survival to age 100 years or in the case of earlier death.

Premiums Payable for the Jeevan Tarang Plan from LIC

Premiums are to be paid regularly at yearly, half-yearly, quarterly or monthly intervals which can be done through salary deductions over the Accumulation Period. Also a single premium may be paid on commencement of a policy.

Riders Available for Jeevan Tarang Plan from LIC

The riders that can be taken along witht this plan include Term Assurance Rider Option,

Critical Illness Rider Option and the Accidental Death Insurance.

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GST of 18% is applicable on life insurance effective from the 1st of July, 2017

 4.5 / 5.0   by 20 users
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LIC Jeevan Tarang Plan Reviews

Page 1 of 1
  • LIC Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have 2 life insurance policies with LIC and its a long term plans. I have not called the customer care but have visited the office directly and the response was good. The benefits are also good. I think, its a JEEVAN TARANG policy and the premium was around 23K quarterly through online.
    Was this review helpful? 0
    , chennai
    Reviewed on Aug 28, 2019
  • LIC
    LIC Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have taken nearly 12 polices with LIFE INSURANCE CORPORATION OF INDIA and the some of the polices are JEEVAN TARANG, JEEVAN CHAYA, NIDHI plan where it has the maturity of 21 years and the premium paying or yearly once because will be getting 2% of cash back on premium paying.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 30, 2019
  • LIC Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I am using the LIFE INSURANCE CORPORATION OF INDIA since from last 10 years and the name of the policy i am using is JEEVAN TARANG where the policy has the benefit of getting pension after the maturity and the maturity period of 20 years. The service is good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 22, 2019
  • LIC Life Insurance
    "Average"
    0.5 3.0/5 "Satisfactory"
    My parents used to take policy with LIC and they are died, the maturity amount was helpful to my brother and me so even we continues. Its also reliable so preferred to go with the LIC. I had taken 3policies Jeevan anand, jeevan tarang and jeevan saral. Am paying for 5years and not satisfied with the maturity benefits of jeevan saral and planning to close. Overall the benefits are less compared to private insurer. The payment mode is easy and they are giving additional one month, am doing quarterly premium.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 12, 2019
  • LIC Life Insurance
    "Good policy with the better plan benefits"
    0.5 5.0/5 "Blown Away!"
    I also hold a JEEVAN TARANG policy with LIC . The total tenure of the policy is 20 years. I pay about rs2500 on a quarterly basis as a premium amount .The plan benefits, policy coverage were really good. This policy provides coverage even after maturity and that's the good aspect about this policy. Sadly, this policy is not available in the market now.
    Was this review helpful? 0
    , pune
    Reviewed on Jun 07, 2017
  • LIC Life Insurance
    "Secure"
    0.5 4.0/5 "Great!"
    I have a Jeevan Tarang policy with LIC. Life Insurance Corporation of India is the best option when it comes to taking an insurance policy in India.Its secure when compared to other private providers.I pay the premiums through online payment. It has an accidental cover as well.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 16, 2016
  • LIC Life Insurance
    "It is great"
    0.5 5.0/5 "Blown Away!"
    Jeevan tarang is the life insurance policy I have taken it with LIC. I took this to save my income tax and also for the personal benefits. This policy has accidental benefits too. It was before 5-6 years I took this policy and I feel its quite beneficial.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Mar 15, 2016
  • LIC Life Insurance
    "Very good"
    0.5 4.0/5 "Great!"
    I have taken a Jeevan Tarang, Jeevan Anand and beema gold policies from lic . It is three in one. Policy coverage is three lakhs. The maturity period for 20 years. Every four years will get the bonus amount . Risk coverage is given for accidental and natural death.
    Was this review helpful? 1
    , madurai
    Reviewed on Jan 21, 2016
  • LIC Life Insurance
    "Very flexible and customer friendly "
    0.5 4.0/5 "Great!"
    I have taken Jeevan tarang plan from lic of India. It is good because we can take flexi loan with the lower interest rate of 8%-9% and can re payed at any time without any extra charge and also do the partial payment. They will sum assured amount of 5lakhs after 15 years of the maturity. .
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 09, 2016
  • LIC Life Insurance
    "Pension plan is fine..."
    0.5 4.0/5 "Great!"
    It is a long term and 20 years policy. I have opted like a pension policy where I get pension and sum assured well from LIC, I have jeevan tarang plan. Customer service is not great in LIC. There are no lots of benefits in the life insurance plans.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 21, 2015
  • LIC Life Insurance
    "Excellent..."
    0.5 5.0/5 "Blown Away!"
    One of the agents suggested to take jeevan tarang plan from LIC. I need to pay the premium for 6 years and after that I can avail a personal loan. After the maturity the sum assured would be great and post that every year I get 45k per annum till the end. I would say LIC policy is a long term policy. Nominee would get around 10lakhs. If I do calculations the benefit is around 28lakhs.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Oct 06, 2015
  • LIC Life Insurance
    "Better "
    0.5 3.0/5 "Satisfactory"
    I have three life insurance policies with the LIC of india. Among the three Jeevan Tarang is the best policy. For 20 years I should pay the premium and after 21st year I will get maturity money and till the 100th of year of the policy holder they will give some yearly benefits.
    Was this review helpful? 0
    , karur
    Reviewed on Oct 05, 2015
  • LIC Life Insurance
    "Excellent One.."
    0.5 4.0/5 "Great!"
    I have got an endowment policy named Jeevan Tarang from LIC. It was recommended by my friend to choose LIC. Customer service is really good. Before 15 days of the premium date they send me SMS reminders. I even get notifications if any new policy is introduced.
    Was this review helpful? 0
    , thrissur
    Reviewed on Sep 11, 2015
  • LIC Life Insurance
    "Amazing..."
    0.5 5.0/5 "Blown Away!"
    Have to pay premium for 20 years and during the maturity period, LIC give bonus amount. If we want we can continue the jeevan tarang plan in to a pension plan by dividing the maturity amount. There are lots of plans in LIC and plans are very much useful.
    Was this review helpful? 0
    , chennai
    Reviewed on Sep 09, 2015
  • LIC Life Insurance
    "Best "
    0.5 5.0/5 "Blown Away!"
    I am having the life insurance policy with LIC of india. I trust LIC , so I just go ahead with them. The services are good with them and I am with the LIC for the last 7 years and I took the policy in the jeevan tarang which is pension scheme. At the age of my 44 they give some maturity benefits with what I paid and it more than 10 lakhs of rupees.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Aug 25, 2015
  • LIC Life Insurance
    "Secure plan for futures"
    0.5 4.0/5 "Great!"
    I have 2 life insurance policies named Jeevan Saral and Jeevan Tarang for the tenure of 10 years which i will be benefited only after maturity period with the lump sum amount.Accidental and natural death coverage is given under the plan. I pay the premium through LIC agent every 6 months.
    Was this review helpful? 0
    , mumbai
    Reviewed on Aug 10, 2015
  • LIC Life Insurance
    "Ultimately safety...."
    0.5 4.0/5 "Great!"
    Overall I have two policies and which is of jeevan tarang and jeevan bhima. I donâ??t think life insurance to be much effective for investment and this can be used as savings purpose. I tried dropping the life insurance after four years and I had paid 1.5lakhs but LIC was ready to provide only 40% from my investment so I continued the plan.
    Was this review helpful? 0
    , chennai
    Reviewed on Jul 02, 2015
  • LIC Life Insurance
    "Good but should be more interactive. ..."
    0.5 5.0/5 "Blown Away!"
    I have Jeevan Anand and Jeevan tarang plan. These two policies are like retirement plan where post maturity I get some amount on monthly basis. This policy continues till my end of the life. No issues in customer service and main reason to go with LIC is of reliability.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jun 26, 2015
  • LIC Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    From LIC have 2 life insurance policies named as Jeevan Tarang and Jeevan Anand maximum of 15 years tenure.After the maturity period we will get the sum assured amount with bonus.Policy coverage is for 15 lakhs. I pay the premium through online in LIC website. One is for yearly and other is for half yearly once.
    Was this review helpful? 0
    , bharuch
    Reviewed on Jun 24, 2015
  • LIC Life Insurance
    "Fine & good!!!"
    0.5 5.0/5 "Blown Away!"
    Haven't got maturity amount so I could not comment more about LIC but it is one of the reliable insurance company. LIC is giving assurance to the customer's family in case of death and also they are giving benefits including some bonus. I have opted Jeevan tarang plan and on this I would get some amount including bonus. At present two to three policies are running with LIC.
    Was this review helpful? 0
    , bokaro
    Reviewed on Apr 25, 2015
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