• LIC Jeevan Tarun Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

     Every parent aims to provide the best environment for their children, ensuring that nothing comes between their growth. Jeevan Tarun is a special plan which combines savings with protection, offering unique solutions to secure the future of your children. With rising costs associated with raising children, this LIC plan provides a financial platform through which the dreams of both parents and children can be realised.

    Eligibility Criteria for LIC Jeevan Tarun

    Minimum entry age 90 days
    Maximum entry age 12 years
    Age at maturity 25 years

    Key Features of LIC Jeevan Tarun

    Some of the key features of this LIC plan are highlighted in the table below.

    Plan type

    Participating non-linked premium payment scheme

    Plan basis

    Individual

    Premium paying terms

    20 minus the entry age,

    i.e., if the entry age is 8 years, the PPT will be (20-8) = 12 years

    Policy term

    25 minus the entry age,

    i.e., if the entry age is 8 years, the policy term will be (25 minus 8) = 17 years

    Maturity benefits

    A certain percentage of the sum assured will be paid on maturity

    Premium payment frequency

    Annually, half-yearly, quarterly and monthly

    Loan

    There is an option to avail a loan, subject to certain conditions

    Grace period

    • 30 days for annual, half-yearly or quarterly payment frequencies
    • 15 days for monthly frequency

    Free look period

    15 day free look period is provided within which an individual can choose to return the policy

    Revival

    Lapsed policies in which premium has not been paid after due date can be revived within two years of first unpaid premium. This can be done by paying all dues, including premiums and any fines as applicable

    Customisation

    Policyholders can choose between four options

    Sum assured

    • Minimum – Rs 75,000
    • Maximum – no upper limit

    Policy coverage

    Death benefit, survival benefit, maturity benefit

    Benefits of LIC Jeevan Tarun

    A few key benefits of Jeevan Tarun are highlighted below.

    • Loan – Policyholders can avail a loan through the policy, once it acquires the surrender value.
    • Flexibility – One can choose between four plan options in the policy, each one providing a different survival and maturity benefit.
      Option 1 Option 2 Option 3 Option 4
    Survival benefit (% of sum assured) (ages 20 to 24 years) Zero 5% per year 10% per year 15% per year
    Maturity benefit (% of sum assured) 100% 75% 50% 25%

    • Survival benefit – The life assured is entitled to a survival benefit equivalent to a certain portion of the Sum Assured after he/she reaches the age of 20 years. This amount will be paid till the age of 24 years.
    • Death benefit – In the unfortunate event of demise of life assured, the sum assured on death will be paid (if death occurs after risk period has commenced). If demise happens before risk cover kicks into place, the premiums paid will be returned.
    • Maturity benefit – On maturity of the policy, a maturity benefit equivalent to a certain portion of the sum assured will be provided.
    • Profit share – Policyholders are eligible to participate in the profits earned by LIC, which will be given in the form of bonuses.
    • Surrender benefit – In the event of an individual wishing to surrender the policy, a surrender benefit will be paid after taking certain factors into consideration.
    • Customisation – Individuals can choose to customise their policy, determining how they would like to receive the maturity and survival benefits.
    • Rebates – Individuals who opt for a high sum assured are eligible for rebates on their premium.

    Working of LIC Jeevan Tarun

    LIC’s Jeevan Tarun has been designed keeping the needs of our time in mind, with LIC ensuring that it is simple and efficient. Once could say that using this plan is Child's play. Let us see the example of Mrs and Mr Rao, both teachers by profession. They wish to secure the financial future of their 5 year old daughter, Maya by investing in Jeevan Tarun.

    Given her age, the policy term becomes 20 years, while the premium payment term is 15 years. The sum assured is Rs 1 lakh. Of the four options available, Mr and Mrs Rao choose option 4, which provides for a 15% survival benefit every year from the time Maya reaches 20 years till she touches 24 years. On reaching the age of 25 years she will also receive a maturity benefit equivalent to 25% of the sum assured, plus any other bonus accrued under this option.

    They opt for an annual premium payment mode, paying around Rs 6200 as premium every year. The total amount paid as premiums at the end of 15 years amounts to around Rs 93,000. Now, on reaching the age of 20 years, as per the plan opted for, Maya will receive Rs 15,000 or 15% of the sum assured. This amount will be paid till she reaches the age of 24. On her 25th birthday, the remaining portion of the sum assured will be paid to her, i.e., Rs 25,000.

    Now, in the event of her demise while the policy is in force, a death benefit equivalent to the sum assured would be paid to her nominees (if death occurred after the risk factor commenced). If death occurred before the commencement of risk, her parents would receive all the premiums paid by them till this period.

    Premium Payment for LIC Jeevan Tarun

    The amount an individual is expected to pay as premium depends on the sum assured and the payment option chosen, with different combinations having different premium expectations. This premium can be paid either monthly, quarterly, half-yearly or yearly or by SSS mode.

    Riders

    LIC offers an Optional Rider for Jeevan Tarun, aiming to provide greater benefits to policyholders. Under this Premium Waiver Benefit Rider, in the event of demise of subscriber (individual who pays the premium), future premium payments are waived off.  

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

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

    LIC Jeevan Tarun Plan Reviews

  • Page 1 of 50 1 2 3 4 5
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a LIC policy from last 4 years and it is a long term policy. The tenure of this life insurance policy is 20 years. I pay my premium once in a year through direct payment and the payment options are convenient for me. I am happy with coverage and returns of this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 14, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with LIC from last 10 years and it is a long term policy. I am satisfied with the coverage and benefits of this policy. I pay my premium once in 3 months by cheque and i am convenient with the payment options. The maturity period for this policy is 15 years.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 14, 2018
    • LIC Life Insurance
      "Scope for improvement"
      0.5 3.0/5 "Satisfactory"
      I am having the life insurance policy with the Life Insurance Corporation of India. I would like to say that the customer service is not good one and the coverage value is not good too. There are no advantages with them.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 14, 2018
    • LIC Life Insurance
      "Best"
      0.5 4.5/5 "Excellent!"
      I have got the life insurance policy with the Life Insurance Corporation of India. I have not used their web portal as such. Coverage value is good one with the Life Insurance Corporation of India, also the premium value is better one with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 14, 2018
    • LIC Life Insurance
      "Good money back plan "
      0.5 5.0/5 "Blown Away!"
      I am having the Money back life insurance policy for the past 10 years. The customer support service and the response is good with the LIC. I pay the premium amount of Rs,5000 to this policy every year once. This policy has the tenure of 20years. I got the money back in 4 years once.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good child plan "
      0.5 5.0/5 "Blown Away!"
      I got the Jeevan Tharan life insurance policy around 3 years ago. The customer support service and the response is good with the LIC and this policy will get matured once my child turns to 18years. I pay the premium amount of Rs,15,000 to this policy in every once.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The Life insurance policy has been taken by me around 4 years ago. This policy has the tenure of 15years. The customer support service and the response is good with the LIC. I pay the premium amount of Rs,28,000 in every year once. i am satisfied having this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 3 years and it is a long term policy. I am happy with the returns and tax benefits of this policy. I pay my premium once in a year through online and the payment options are convenient for me. The maturity period for this policy is 20 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have been using LIC since my childhood and it is a long term policy, the tenure for this life insurance policy is 15 years. I pay my premium once in a year by cheque and i am convenient with the payment options. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "BEST"
      0.5 5.0/5 "Blown Away!"
      MONEY BACK i have been using from the LIC. I have been using since 2009. It is a long term policy of 27 years. I pay for 6 months once for my insurance and through the cash and sometimes through the net banking. I have not taken any of the loans in my insurance.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India and I have not interacted with them as much. Coverage value is fine one with the Life Insurance Corporation of India and I have not claimed as such.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Better Jeevan saaral policy"
      0.5 5.0/5 "Blown Away!"
      I pay the premium amount of Rs,12000 every year once to the Jeevan saaral policy . I hold this policy for the past 18years. The customer support service and the response is good with the LIC and this policy ha the tenure of 20 years. The plan benefits and the policy coverage is very good with this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good Jeevan anand policy"
      0.5 5.0/5 "Blown Away!"
      I got the LIC life insurance policy around 6years ago. The customer support service and the response is good with the LIC and this policy has good plan benefits and better policy coverage with this policy. I pay Rs,762 every 3 months once as premium amount. This policy has the tenure of 20years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good Life insurance policy"
      0.5 5.0/5 "Blown Away!"
      If i missed my due date, the ECS is deducted from the bank where it is got deducted. In the branch the services is good. I never claimed the policy so far. I can claim this policy after 16 years. I used to make the payment through cash. Once i completed my policy, my amount will include some bonus and interest.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Better policy"
      0.5 3.0/5 "Satisfactory"
      Their is a agent in LIC. In their customer care services, i wont get proper response. Whenever i have a issue, i will check withe a agent. Total tenure of the policy is more than 15 to 20 years, i cannot predict the money value in future. I'm not that much confidence on LIC. I used to pay through ECS. Death coverage, Disabled coverage is available.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 12, 2018
    • LIC Life Insurance
      "Best"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India. Customer service is good one with the Life Insurance Corporation of India. Plan benefits are really fine one for me with the Life Insurance Corporation of India.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 12, 2018
    • LIC Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India from the last five years of time. Customer service is good one and the response is good too. Coverage value is fine one with the LIC of India.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 12, 2018
    • LIC Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      Got the life insurance policy with the LIC and I have paid Rs,450 to this policy every month on month. The customer support service and the response is average with the LIC life insurance policy. The plan benefits and the policy coverage is very good with LIC.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 12, 2018
    • LIC Life Insurance
      "Best"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India. Customer service is good one and the response is better one. Coverage value is around 2.5 lakh Rupees with the Life Insurance Corporation of India.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 12, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 3 years and it is a long term policy. I am happy with the returns and tax benefits of this policy. I pay my premium once in a year through net banking and i am convenient with the payment options. The maturity period for this policy is 20 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 11, 2018
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