LIC Jeevan Tarun Money Back Plan Review Maturity Benefit Sum Assured and Interest Rate
LIC Jeevan Tarun plan Which is launched on the Heading of Table No. 834 is non-linked, with profits, Limited Premium Payment plan Which is Specially designed to meet the Educational and other needs of growing children. under this LIC Jeeven Tarun Money Back policy Table No. 834, Policy holders can get the benefit of the survival benefit payment from the 20-24 years and maturity benefit will be starting from the 25 Years age. LIC Jeevan Tarun Policy (Plan No.834) is a limited premium payment money back plan.
LIC Jeevan Tarun Money Back Plan
Option Name Survival Benefits Maturity Benefits
Option 1 No Survival Benefit 100% of Sum Assured
Option 2 5% of Sum Assured every year for 5 years 75% of Sum Assured
Option 3 10% of Sum Assured every year for 5 years 50% of Sum Assured
Option 4 15% of Sum Assured every year for 5 years 25% of Sum Assured
LIC Jeevan Tarun Policy (Plan No.834) Eligibility Conditions
Entry Age (in Years)
Minimum – 90 days (Completed)
Maximum – 12 years (last birthday)
Maximum Maturity Age
Maximum – 25 Years (last birthday)
LIC Jeevan Tarun Money Back Plan Policy Term:
25 is the Entry Age in years
Sum Assured (SA)
Minimum – Rs. 75,000
Maximum – No limit
Note: (From Rs. 75,000 – 1,00,000) – SA (in multiples of Rs. 5000)
Above Rs. 1,00,000 – SA (in multiples of Rs. 10,000)
Premium Paying term (PPT)
(20 – Entry Age) (in years)
Premium pay Mode : Yearly, Half, Quarterly, Monthly(ECS) and also via online by visiting the licindia official websites.
LIC Jeevan Tarun Money Back Policy Benefits :
ON DEATH: On death before the date of Commencement of Risk:An amount equal to the total amount of premium’s paid excluding taxes,extra premium and rider premium,if any shall be payable.
On death after the date of commencement of Risk:Death benefit,defined as sum of sum Assured on Death and vested simple Reversionary Bonuses and Final Additional Bonus,if any ,shall be payable.Where Sum Assured on Death is defined as higher of 10 times of annualized premium or Absolute amount assured to be paid on death i.e. 125% of Sum Assured.This death benefit shall not be less than 105% of the total premiums paid as on date of death.
LIC Jeevan Tarun Money Back Surrendered Value :
LIC Jeevan Tarun Money Back Policy can be Surrendered at any time during The policy term provided at least 3 full years premiums have been paid completed.
LIC Jeevan Tarun Money Back Loan Availablity : Loan Available Under this Money Back plan after the Payment of Premiums for at least 3 full years
Income tax benefit : Premium paid under this plan is eligible for TAX rebate under section 80c. and Maturity under this plan is free under sec 10(10D).