Jeevan Tarun 934 Plan – LIC Jeevan Tarun 934 Policy Details

Jeevan tarun 934 policy is non-linked, with profits, limited premium payment plan specially designed to meet the educational and other needs of growing children.

Premium Payment Mode

Monthly (ECS), Quarterly, Half Yearly and Yearly

Duration / Term

25 Age at Maturity Time

PPT

20 Age at entry years

Minimum Entry Age

Zero Years Last Birthday

Maximum Entry Age

12 Years Last Birthday

Maximum Maturity Age

25 Years

Minimum Sum Assured

75000

Maximum Sum Assured

No Limit (Depending upon your Income)

On Risk

On Risk before the date of commencement

An amount equal to the total amount of premiums paid excluding taxes, extra premium and rider premium, if any shall be payble.

On Risk after the date of commencement

Risk benefit defined as sum of sum assured on risk and vested simple revisionary bonuses and final additional bonus, if any shall be payable.

Where sum assured on death is defined as higher of 7 times of annualized premium or absolute amount assured to be paid on risk i.e 125% of sum assured

This risk benefit shall not be less than 105% of the total premiums

Survival

Option 1

No survival, Maturity Benefit 100% SA

Option 2

5% Sum assured every year for 5 years from age 20 to 24, Maturity benefit 75% Sum assured

Option 3

10% Sum assured every year for 5 years from age 20 to 24, Maturity benefit 50% Sum assured

Option 4

15% Sum assured every year for 5 years from age 20 to 24, Maturity benefit 25% Sum assured

Surrendered Value

The policy can be surrendered at any time during the policy term provided premiums have been paid for Full Two Years

Loan

Available after payment of premium of 2 Full Years.

Income Tax Benefit

Premium paid under this plan is eligible for Tax rebate under section 80C.

Maturity under this plan is FREE under section 10(10D)