Why LIC Jeevan Tarun Is the Best Choice for Your Child’s Education?

LIC’s Jeevan Tarun is one scheme that can provide you with a restricted pay choice to secure the future of your child. It is an optimal investment plan to secure the future of your child against life’s hardships LIC Jeevan Tarun provides a few money back and maturity advantages decisions. Whether it’s education, marriage or some other reason to exist, Jeevan Tarun from LIC ensures your next generation doesn’t have to face any economic issues. The scheme provides wide integration of hazard, with a partial-pay option, where the range of premium payment term is shorter than the maturity period of the policy.

Some of LIC Jeevan Tarun‘s Best Features are :

• Limited premium payment

It states that it will be necessary to pay the premium quantities until the child reaches the age of 20 years ; the policy will be regarded to have evolved once your baby reaches the age of 25 years. This is an ideal option for individuals who are concerned about their term investment plans and want economic but competent coverage of the risk.

• Survival Benefits

The policyholder gets a choice over the previous five long stretches of the development term of his strategy to profit from uncommon survival benefits. The amount of the benefit depends on the type of benefits that were selected at the time the policy was initiated.

• Maturity benefits

LIC JEEVAN TARUN provides fundamental reversionary (long-term) benefits throughout its policy maturity period and a final bonus at maturity moment. It also provides demise advantages under which a fundamental guaranteed amount is awarded to the nominee along with the bonuses.

LIC’S Jeevan Tarun offers 4 options for securing maturity benefits:

With no survival benefits:

• At maturity, the insured shall be granted the entire sum assured along with the vested rewards.
• 5% of the fundamental amount guaranteed over the past five years – the insured would receive 75% of the amount guaranteed in addition to the vested bonuses.
• 10% of the assured sum over the previous 5 years – 50% of the assured sum returned at development alongside the assured bonuses.
• 15 % of the assured sum over the previous five years – 25 % of the basic sum is returned at development along with the assigned bonuses.
• After maturity of the plan, the basic amount alongside bonuses is given to the policyholder and the policy ceases to exist thereafter.

Bonus and rewards:

• In addition to survival benefits and growth advantages, the scheme provides long-haul reversion bonuses.

In case of death of the premium payer:

• No more premiums should be paid for the remainder of the period of maturity of the policy. The policy will continue to cover the applicant until maturity, a post that will be assured by the guaranteed fundamental amount and the multiple bonuses given to the scheme.
• The risk coverage linked to LIC Jeevan Tarun begins from 8 years old, or 2 years from the plan’s inception.

Sum assured on Death:

• If the insured’s death should occur, the assured sum should be about 10 times the premium amount to be paid, or a maximum of 125% of the assured sum, somewhere. It should, however, amount to a minimum of 105% of the total premium paid up to the date.

Extra Riders Benefit Plans:

• It provides additional security against the insured’s accidental death / disability.

Benefits linked with LIC Jeevan Tarun plan :

• Maturity Benefits: At the time of maturity, the plan will restore the assured basic sum alongside the reversionary long haul rewards and the last reward gained. The bonus rates in each financial year will be pronounced and set by India’s LIC.

• Survival Benefits: This scheme provides a distinctive facility to collect a particular quantity of cash as survival advantages in each of the last five policy years, provided the insured survives the policy tenure. The rates to be awarded may be selected at the moment the strategy is established.

• Death benefits: If the insured’s death should occur, the nominee would be given the fundamental guaranteed quantity along with the easy reversionary and final bonuses obtained. The guaranteed totality should be about ten times the premium paid each month, quarter, or year.

• Rider Benefits Plan: The Premium Waiver Benefit Rider plan of LIC can be reconciled with this plan to ensure additional risk coverage against the insured’s accidental death disabilities.

• Grace period: In case of non-payment of premium(s), a standard grace period of 30 days is granted, the post the policy will lapse.

Conclusion: LIC Jeevan Tarun plan lets you secure your kids if something unpleasant happens and you’re not there to take care of them. Remember the old saying that a stitch saves nine in time? Well, this time stitch can help you make the dreams of your child come true.

To know more about Mutual Fund, you can visit our website https://www.jayantharde.com or contact our representative at +91 712 2282029 or meet us at 51, Gurukripa, Old Sneha Nagar, Wardha Road, Nagpur – 440015.