LIC'S Jeevan Tarun

Life Insurance Corporation of India's Jeevan Tarun Plan

Plan & Table No.: 836

Policy feature Summerly:- LIC's Jeevan Tarun is a child plan that is designed for long term saving to meet the need of capital for child's Higher education, marriage or settlement to start a business(by grown up child at the age of 25 years). Policy can be proposed by parents, grandparents of a child aged 90 days to 12 years. Minimum sum assured is 75000 INR and there is no upper limit of sum assured. This plan insures life of child since the age of 8 years or two years of policy, whichever happens first- depending on entry level age of child. Proposer of this plan can avail the benefit of Premium waiver in case of their own death. However, death of proposer will not effect the maturity or sum assured of child's life. Premium paid in this policy can be claimed as 80C rebate and maturity value is tax free as per 10(10D) clause.