LIC New Plan Jeevan Tarun 834 is a participative flexible plan for children. The allotment of survival benefits can be chosen by the proposer at the time of the issue which makes LIC’s Jeevan Tarun Policy one of the most liked LIC policy for child education.
Maturity benefit is the fixed percentage of sum assured paid when the insured child reaches 25 years of age.
Survival benefits are a fixed percentage of the sum assured which can be enjoyed from 20 to 24 years of age of the life insured. The survival and maturity benefits as per LIC Jeevan Tarun Plan can be chosen as per the options in the table given below:
|Option||Survival Benefit||Maturity Benefit|
|I||Nil|| 100% Sum Assured + Bonus
|II||5% Sum Assured every year for 5 years||Remaining 75% Sum Assured + Bonus
|III||10% Sum Assured every year for 5 years||Remaining 50% Sum Assured + Bonus
|IV||15% Sum Assured every year for 5 years||Remaining 25% Sum Assured + Bonus
Death Benefit in the unfortunate event of death, LIC Jeevan Tarun Plan 834 shall pay the sum assured on death along with simple reversionary bonuses and final additional bonuses. The death benefit cannot be less than 105% of the total premiums paid till the date of death of the insured.
Premium Waiver Benefit is an optional rider in the LIC Jeevan Tarun Policy which can be opted at an additional premium amount The rider waives off the premium on the death of the proposer.
As an efficient LIC agent, we help you to thoroughly understand LIC Jeevan Tarun Policy details and benefits. It is among the best of LIC Child Education Plan that allows your child to smoothly walk towards its dream.