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LIC Jeevan Tarun Plan (Table No: 834)

LIC’s Jeevan Tarun (Table No: 834) is children money back plan which is specially designed for securing children education. This plan gives options to choose survival benefit and helps to ensure financial requirements of child education from 20 to 25 years of child age. This plan can be purchased by parent or grand parent for their 0-12 year old child and very useful with premium waiver rider which provides premium waiver in case of death of guardian (proposer) during policy term.

Key Features

  • A plan to fulfill requirement child education
  • Option to select required amount from 20-25 year age of child
  • Premium waiver option which and important feature
  • Paid premiums are exempted from income tax under sec 80C
  • Maturity amount is tax free under 10 (10D)

Eligibility Conditions

Age of Entry 90 days to 12 years
Premium Paying Mode Yearly, Half Yearly, Quarterly, Monthly (ECS Only)
Calculate Premium
Policy Term 25 - Age at Entry (20 years in case of 5 year old child)
Premium Paying Term 20 - Age at Entry (15 years in case of 5 year old child)
Sum Assured 75000 and above (in multiples of 10000)
Premium Payment Mode rebate 2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly
High Sum assured Rebate (per Thousand of SA) Rs. 0 on 75,000 to 1,90,000
Rs. 2 on 2,00,000 to 4,90,000
Rs. 3 on SA on 5,00,000 and above
Loan After 2 Years for less than 10 year term & 3 years for more than 10 year term
Surrender After 2 Years for less than 10 year term & 3 years for more than 10 year term
Revival Within 2 Years of Lapse

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Starting of Risk

  • In case, the child is less than 8 year old, then, life cover will start 2 year after policy purchase or completion of 8 year of age, whichever is earlier.
  • Example, if child is 2 year old, then life cover (risk) will start after 2 year i.e. when child will become 4 year old and if child is 7 year old then, risk will start when child becomes 8 year old i.e. that is one year after purchasing policy.
  • If child is 8 year old at the time of buying policy then, risk will start immediately.

Death benefits

  • If death of child happens before start of risk, all premiums paid excluding taxes will be paid to nominee as death claim.
  • If death of child happens after start of risk, then Sum Assured on death (125% of sum assured) + Bonus + FAB will be paid to nominee as death claim.

Maturity benefit

There are four options available to take the maturity on survival which gives the flexibility to plan and secure future requirements from 20 year of age to 25 year of age child. The four option are explained in following table.

Option From 20 -24 year of age At 25 Year of Age
1 0 100% of SA + Bonus + FAB
2 5% of SA 75% of SA + Bonus + FAB
3 10% of SA 50% of SA + Bonus + FAB
4 15% of SA 25% of SA + Bonus + FAB

Premium Waiver Benefit Rider (PWB)

This plan can be bought with Premium waiver benefit against life of proposer (Parents or Grand Parents) with additional premium. In case of death of Parents, further premiums will not be required to pay. This rider must be included with this policy to get a complete child plan.

Jeevan Tarun plan with Example

To Illustrate the benefits of Jeevan Tarun plan, Lets take an example of a who is 32 year old and who is purchasing this plan for his 3 year old child.
Father (Proposer) Age : 33 Years
Child Age: 3 Years
Sum Assured: Rs. 5,00,000
Policy Term: 23 (25-3) Years
Premium Paying Term: 17 (20-3) Years
Policy Purchase Year: 2015

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Following table explains approximate premium to be paid and money back amounts along with maturity which will be available from 20 to 25 year age of child.

Options Premium (yearly) From 20 -24 year of age At 25 Year of Age
1 25451 0 1103000
2 26145 25000 Each year 978000
3 26865 50000 Each year 853000
4 27560 75000 Each year 728000

With the help of above example, we can understand that Jeevan Tarun plan allows to plan children education and marriage needs from 20 to 25 year age.

Comments & Reviews

Wrote : 11-01-2017 15:04:56

Hi I am from uk and wanted to buy this for my daughter who is 5 year and 5 months. My age is 36 years and I am resident of UK. My husband is Indian resident and his age is 38. Can we buy this policy to secure her future?

Replied : 11-01-2017 17:23:28
NRI and Overseas Citizens of India (OCI) can buy this policy.

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Wrote : 10-01-2017 20:27:16

In Jeevan Tarun Plan if some body forget to get PWB at the time of purchase of Policy, can he get PWB lateron

Replied : 11-01-2017 00:01:09
Yes, you can get it added to your basic plan. Kindly contact policy issuing branch.

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Wrote : 09-01-2017 20:43:36

Being grandfather of 65 Yrs, can he gets Jeevan Tarun Policy with PWB for grandson

Replied : 10-01-2017 07:33:18
Maximum age for proposer and availing premium waiver benefit (PWB) is 55 years, so it is not possible in your case.

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Wrote : 05-01-2017 12:59:27

I want to please clarify details in telugu

Replied : 05-01-2017 14:35:04
I do not know telgu. Please find someone who knows telgu and english and get it explained.

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Wrote : 10-12-2016 19:44:36

Is jeevan Sarah table no. 165, existing today, if I plan to buy it, is it possible..

Replied : 10-12-2016 22:07:52
No, this plan is closed.

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Wrote : 21-11-2016 21:29:44

my brother bought this policy on 27/07/2015 he paid two premiums of 24998 rupees and sum assured was 500000/- unfortunately my brother passed away suddenly now what i should do ???

Replied : 21-11-2016 22:09:52
Please approach policy issuing branch they will assist you in completing all required formaliies. Death certificatie, original policy document and photo id and bank details of nominee will be required.

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Wrote : 09-11-2016 12:36:09

Sir/madam, With an intention to get Jeevan Tarun policy for my child I submitted application form with required documents through my agent to LIC and paid Rs.1,08, 416/- by a cheque to which I got a receipt (without cheque number in it). Now I got a call from the Development Officer of LIC asking for my insurance policy details (which I had furnished earlier) with an emphasis that my policy value must be equivalent to the sum assured for my child. (25 lakhs) He is suggesting that I must invest now to meet this requirement. Affordability is a question for me and is it a requirement as per LIC? Neither this condition is reflected in the application form nor my agent knew or the officer specified before collecting cheque. Please clarifiy

Replied : 10-11-2016 15:51:15
Yes, In case of higher sum assured (above 10 Lakh) for child, father (proposer) requires to have risk cover higher than that of child. You can look for Term Insurance (Amulya Jeevan 2) which will have very low premium for this propose.

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Wrote : 06-11-2016 23:42:50

Hi, please confirm tax rebate benefit available on maturity amount(as per calculator) or will be paid after tax.

Replied : 07-11-2016 10:45:45
Maturity will be tax free under section 10(10D).

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Wrote : 22-10-2016 17:19:06

My age 33 child age 3 Can I get this plan for 10 lakh sum assured. I Don't have any lic policy as of today.

Replied : 22-10-2016 18:49:58
You can take this plan.

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Wrote : 12-10-2016 18:29:10

My age 20 year 20se24 sal tak mai jeevan tarun policy ka labh lena chahta hu to form ke bare me jankari chahiye thi

Replied : 12-10-2016 18:38:49
24 years age k liye ye policy nahi hai. ye ek Child plan hai 0-12 years k liye.

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Wrote : 23-07-2016 18:18:58

Is payment installment depends upon father's age? Please clarify.

Replied : 24-07-2016 13:14:36
If you take premium waiver rider, then premium will also depend upon the age of father, else it will depend upon child age.

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Wrote : 19-07-2016 09:38:09

what is the premium of 100000

Replied : 19-07-2016 14:34:07
Age and term?

Wrote : 19-07-2016 09:38:09

4 years child

Replied : 19-07-2016 15:19:55
Premium Calculator is available for this plan in premium calculator menu , please use it.

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Wrote : 16-07-2016 16:48:11

SIR,can benefits of two insurance policies can be clubbed?? for ex. if i have 2 life insurance policies with sum assurity of 3lac and 2 lac.than on my death my family will recieve 5 lacs or 3 lacs or 2 lacs

Replied : 17-07-2016 19:50:35
The maturity will be received from both the policies.

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Wrote : 14-07-2016 14:47:21

Tell me .how I can take premier waver benefits in policy

Replied : 14-07-2016 19:28:40
Contact your policy issuing branch for the same.

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Wrote : 14-07-2016 11:09:52

sir i have not choose pwd benifit. can i choose pwd benifit now.

Replied : 14-07-2016 11:52:55
Yes, you can take it.

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Wrote : 07-07-2016 20:48:11

Mother as a proposer can take this plan for her daughter, even daughter has a father

Replied : 08-07-2016 00:23:07
Yes, Mother can be proposer.

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Wrote : 19-06-2016 10:19:05

Sir Pl tell me whether life insurance of proposer(parent)is essential for taking jeevan tarun policy of their child with or without PWB rider. Ajay kumar seth

Replied : 19-06-2016 16:00:55
Without proposer and pwb, this policy will be of no use. Suppose if child does not have source of income and death of proposer occurs then who will pay the premiums if pwb is not opted for.

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Wrote : 09-06-2016 20:33:49

meri beti ka DOB 26-12-2015 hai. Mera DOB 10-06-1983 hai. Mujhe 1500000 fifteen lacs only ka plan lena h.... 20 21 22 23 24 ki age me mujhe 75 % sum assured ka lena h.... 25 yeras ke baad lumpsum kitna amount milega ..... Monthly quarterly half yearly aur yearly ka kitna premium aayega pls bataye..... Suppose maine monthly premium plan choose kiya h aur 1 installment ke baad agar meri death ho jaye to kya agar maine PWB plan liya hua hai to kya next premium waive ho jayega aur sare benefit milega

Replied : 11-06-2016 13:23:18
Yes, premium nhi dena hoga apki beti ko.

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Wrote : 15-05-2016 18:18:10

child age 1 year parents age 32 year s a 5lakh i know premium lic jeevan tarun plan option 4

Replied : 16-05-2016 17:22:33
premium calculator is available on the site, please use it.

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Wrote : 13-05-2016 17:15:03

In this policy, propser have insurance or not

Replied : 13-05-2016 21:49:40
No, proposer does not have insurance, here proposer have option of premium waiver benefit (PWB) which means, in case of death of proposer during the premium payment term, then further premiums will be waived i.e. child does have to pay further premium and benefits will be paid to child as specified.

Wrote : 13-05-2016 17:15:03

please advise can be possiable father in law or my father is proposer,and take PWB on their life.

Replied : 13-05-2016 21:52:58
Your father can be proposer provided that he is less than 55 year old.

Wrote : 13-05-2016 17:15:03

what plan i take for my child she is 1 year old,for father and father in law to take Premium waiver benefit (PWB)

Replied : 13-05-2016 22:00:07
Jeevan tarun 834 is recommended.

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Wrote : 04-05-2016 21:00:17

My son age 3 Months.. which policy best for future? Maximum investment 24000

Replied : 06-05-2016 18:08:01
Jeevan Tarun Plan with premium waiver rider is suggested for you.

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Wrote : 30-04-2016 20:10:58

kapil gupta wrote: 07-10-2015 12:08:21 thanks for ur answer but i have chosen option 4 , which means 15 % , every year and 25 % at the maturity time.. Ravi Replied: 08-10-2015 20:11:20 Correction: Your Baby will get 150000 every year at his age 20,21,22,23 and 24 year and after completion of term i.e. at 25 year of baby age he will get 20 Lakh (approx). AS PER ABOVE DISCUSSION AS PER CALCULATION AT 25TH YEAR U R GOING TO GET 15 LAKH (approx). KINDLY CLARIFY.

Replied : 30-04-2016 22:12:09
On completion of 25 years, child will get 25% of sum assured plus bonuses accumulated for 25 years according to sum assured (10Lakh), it comes to 19-20Lakh approximately.

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Wrote : 02-03-2016 10:46:02

Can i pay the premiums on monthly basis..i want to spend 1000 per month in this policy.is it possible....then i f possible tell me maturity benefits for this amount also

Replied : 02-03-2016 12:34:12
Yes, you can pay monthly but it will direct debit from your account on monthly basis. please provide your age for futher information.

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Wrote : 23-02-2016 19:31:21

Call for Policy 7219942240

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Wrote : 16-02-2016 23:52:24

Sir , My son is 8 months old..i like to start a JEEVAN TARUR policy for 10 lac.. The LIC Agent said tat the parent also has to take a policy worth 10 lacs..is it so sir.. and he said the monthly premium for 10 lac plan will be Rs.3714 and the maturity amount will be 22 lacs..

Replied : 17-02-2016 12:16:56
In case of jeevan tarun, policy will be done in child name and father will be proposer and it is essential to take premium waiver rider which will attached with policy to waive the premium in case of death of the proposer. it not that you have to take policy.

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Wrote : 04-02-2016 16:45:35

For this plan jeevan tarun what can maximum age of grand parent.My father is 75 yr can he be proposer

Replied : 04-02-2016 23:47:29
No, because Maximum age proposer is 55.

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Wrote : 08-01-2016 21:52:35

Hi my daughter is 2 years old&my age is 38 years,tell me what is the minimum premium of jeevan tarun policy.

Replied : 09-01-2016 13:28:00
Yearly Rs. 5524.

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Wrote : 16-12-2015 07:57:05

Sir i have taken jeevan tarun plan 3 lack with option 3.but the lic person has not give me option of pwb.give me details. My child is 2 years.

Replied : 16-12-2015 09:02:30
No issues, You can take this rider at any time during premium paying term.

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Wrote : 18-11-2015 10:48:17

Is there any policy which cover the life risk of father, mother and the child with pwr benifit.

Replied : 18-11-2015 18:06:44
Jeevan tarun comes with premium waiver benefit( pwb) in which future premiums are waived in case of death of proposer ( mother or father).

Wrote : 18-11-2015 10:48:17

Thank you for yr reply. But still your reply is not clear.I need some clearification. I have been informed by a LIC Agent that if a policy is taken for a child of 0 year for s.a. 500000 under jeevan tarun with premium waiver scheme (Table No.834) then the policy will cover life of the child for 500000 and the father will also get a coverage of 500000 and the mother shall also be covered for 250000 under the same policy. Please clearify the fact. Further, if the above plan does not cover the above features, would you suggest me some other plan which covers the life of the child, father and the mother.

Replied : 19-11-2015 09:32:25
I try to explain here.
Jeevan Tarun will be purchased in the name of child and one parent may be proposer for this, which means parent (mother or father) will pay the premium and in case of unfortunate demise of him/her, further premiums will be waived off. There will not be any life cover for father or mother. In case of unfortunate death of child during policy term parent will get death claim.

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Wrote : 14-11-2015 17:16:36

sir,pl.send at my email id including pwb premium chart paln no.834 for 1 alc to 5 lac -age 25 to 50 thanks.

Replied : 14-11-2015 18:14:18
premium calculator for this plan is available on this site. please click here.

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