The cost of education has been on a rise for the last few years. Today education, especially higher education, needs to be planned separately. Earlier parents never had to plan their child’s education beforehand. But in today’s scenario, we cannot think of moving forward without a roadmap for our child’s education. And planning the cost of education is nothing short of a mental exercise. To prevent the excess pressure on us regarding the education expense of our children, LIC has a plan in store for us – LIC’s Jeevan Tarun Plan.
LIC’s Jeevan Tarun Plan is a participating non-linked, limited premium plan which offers a mix of both protection as well as savings to the policy holder. It can be beneficial to meet the education expenses as well as any other planned or unplanned expenses of your child. You can choose between two types of plans – one with survival benefit from 21st year of your child to 24th year or without any survival benefit.
Even the survival benefits vary from 5% per annum to 15% as per the plan that you opt for. The minimum sum that can be assured is Rupees 75,000. If the sum assured exceeds the minimum limit, it must be in multiples of Rupees 5,000, if the sum assured is up to Rupees 1,00,000. In case the policyholder opts for more than 1,00,000, the amount must be in multiple of Rupees 10,000.
It offers Final Additional Bonus as well as Simple Revisionary bonuses along with the maturity sum.
If you desire to draw a certain small sum after the end of 21st year till the end of the 24the year, you can avail the benefits of survival plan while the maturity amount will be available at the end of the 25th year.
Child planning is an absolute necessity to help him make his future bright. We, being the parents, must invest wisely so that they can reap the benefits when they need it the most. And care should be taken for higher education expenses. We all know how costly is it today. You can invest in LIC’s Jeevan Tarun Plan so that you can reap the benefits tomorrow. The premium amount is not very high but the sum assured is sufficient to at least pay off a portion of the child’s expenses when he turns 21 or more.