"LIC Jeevan Tarun - Securing the Future of your Child"

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Jeevan Tarun

Jeevan Tarun is a non-market linked participating insurance plan that offers you the dual advantage of saving and life cover. It’s a limited premium payment plan and has 4 repayment options to choose from including money back and lump sum maturity value. The policyholder will have to opt for the option at time of commencement of the policy.

Option Survival Benefit Maturity Benefit
Option 1 No survival benefit 100% of Sum Assured + Vested Bonuses
Option 2 5% of Sum Assured every year for 5 years 75% of Sum Assured + Vested Bonuses
Option 3 10% of Sum Assured every year for 5 years 50% of Sum Assured + Vested Bonuses
Option 4 15% of Sum Assured every year for 5 years 25% of Sum Assured + Vested Bonuses


All in all, Jeevan Tarun is a perfect plan to meet child’s higher education expenses.

LIC’s Jeevan Tarun – Key Features

  • Survival Benefit: Depending upon the option one chooses from the 4 available choices, one can start receiving money back. Survival benefits are payable once the child turns 20. They are paid till age 24.
  • Maturity Benefit: The policy matures once the child turns 25. Depending upon the option picked, the maturity benefit is paid to the policy holder. The maturity benefit includes vested Simple Reversionary Bonuses and Final Additional Bonus accrued during the policy term.
  • Death Benefit: In case the policy holder dies during the policy term, a ‘Sum Assured on Death’ along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any accrued on the policy, is paid.

The Sum Assured on Death is calculated as under:

Higher of

  • 10 times of annualized premium paid till date of death.
  • 125% of Sum Assured

It is important to note that the Death Benefit shall not be less than 105% of the total premiums paid as on date of death.

  • Rider Option: One may avail the LIC’s Premium Waiver Benefit Rider option at an additional premium. In case of death of the proposer during policy term, the remaining premiums are waived off.

Policy at a Glance

Sum Assured: 75000 to no limit

  • Proposer: Parent or Grandparent
  • Age Eligibility: Child’s age from 90 days to 12 years
  • Maturity Age: Child’s age 25 years
  • Policy Term: 25 years – Child’s age at entry
  • Premium Paying Term:8 Years to 20 Years
  • Premium Paying Mode: Monthly, Quarterly, Half- Yearly, Yearly
  • Surrender Value:The policy acquires a surrender value if at least three premiums are paid.
  • Loan:Loan can be availed against the policy in case at least three premiums are paid.

Premium Chart:

The chart below shows the annualized premium for a Sum Assured of Rs. 10,00,000. The premium paid varies according to the age of the child.

Sum Assured: Rs. 10,00,000

Age of child: 1 Year

Policy Term: 24 Years

Premium Paying Term: 19 Years

Option Selected: 3

1st Year Premium

Mode Premium
Annual 47,251

Subsequent Premiums

Mode Premium
Annual 46,233
  • Premium amount is inclusive of tax
  • Premium Rates get dearer under Monthly, Quarterly and Half- Yearly modes

Survival Benefit

  • 5,00,000 (1,00,000 each in at age 20-24 years)

Maturity Benefit:

  • Bonus: 11,52,000
  • FAB: 3,50,000
  • 50% of SA: 5,00,000

Total Maturity Benefit:

Rs 20,02,000

Total Policy Returns:

Rs 25,02,000

Being able to provide for your kid’s education and good life can confer the happiest feeling. LIC’s Jeevan Tarun is one such kid’s insurance policy that helps you plan for the same effectively. Get in touch with us at 9230091000 to buy LIC’s Jeevan Tarun plan or to seek further custom plan for your child. Call +91-9230091000 today!

We are authorized agency for LIC of India and provide life insurance plans/policies to individuals, HNIs/NRIs and corporates in Chandigarh, Mohali, Panchkula, Zirakpur, Kharar.