LIC Jeevan Tarun Plan

 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


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


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


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


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.


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.  

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

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LIC Jeevan Tarun Plan Reviews

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  • LIC Life Insurance
    0.5 4.0/5 "Great!"
    I have purchased the JEEVAN TARUN plan with the LIFE INSURANCE CORPORATION OF INDIA where they have given the maturity period of long term added on that the policy coverage for family and they provided the accidental benefits with this policy.
    Was this review helpful? 1
    , mumbai
    Reviewed on Apr 09, 2019
  • LIC
    LIC Life Insurance
    0.5 4.0/5 "Great!"
    I hold a life insurance with LIC. It is a money back policy. I get a bonus every five years. The premium is paid on a quarterly basis. I have also taken another plan for my child called Jeevan Tarun. It is a children plan and I am quite happy with its benefits. It has a money back benefit for education. The tenure for his plan is for 15 years and the annual premium is of 10K. I pay my premiums online and it is convenient.
    Was this review helpful? 0
    , chennai
    Reviewed on Jul 17, 2015
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