LIC's JEEVAN TARUN is a participating non-linked limited premium payment plan
which offers an attractive combination of protection and saving features for
children. This plan is specially designed to meet the educational and other
needs of growing children through annual Survival Benefit payments from ages 20
to 24 years and Maturity Benefit at the age of 25 years. It is a flexible plan
wherein at proposal stage the proposer can choose the proportion of Survival
Benefits to be availed during the term of the policy as per the following four
options:
Option
|
Survival Benefit
|
Maturity Benefit
|
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
|
Minimum Sum
Assured
: Rs. 75,000
Maximum Sum
Assured
: No Limit
(The Sum Assured shall be in
multiples of Rs. 5,000 from Sum Assured Rs. 75,000 to Rs. 100,000 and Rs.
10,000/- for Sum Assured above Rs 100,000)
Minimum Age at
entry
: [90] days (last birthday)
Maximum Age at
entry : [12] years (last birthday)
Minimum/ Maximum Maturity Age
: [25] years (last
birthday)
Policy
Term
: [25 – Age at entry] years
Premium Paying Term
(PPT)
: [20 – Age at entry] years
Premium
paying modes :Yearly, Half-yearly, Quarterly and
Monthly mode.
However, a grace period of one month
but not less than 30 days will be allowed for yearly, half-yearly, quarterly
modes and 15 days for monthly mode of premium payment.
The plan can be purchased by
any of the parent or grand parent for a child aged 0 to 12 years.
