LIC Jeevan Tarun Policy – Invest ₹150 per day in this scheme and get Rs. 26 lakhs for your child’s future
Every parent dreams of providing their children with the best education and a financially secure future. But rising expenses often make it difficult to achieve these dreams without proper planning. LIC Jeevan Tarun Policy is specially designed for parents who want to save systematically for their children’s higher education and future needs, while also enjoying the benefits of insurance protection.
With an investment of ₹150 per day, this plan can help you build a fund of up to ₹26 lakhs for your child. Let’s understand how the policy works, its features, benefits and eligibility.
What is LIC Jeevan Tarun Policy?
LIC Jeevan Tarun is a limited premium paying, non-linked, with-loafs insurance plan that combines savings with protection. It is designed to meet the financial needs of growing children, especially during their higher education, career development and other important milestones in life.
This policy offers flexible survival benefit payout options so that parents can choose when and how they want to access funds for their child’s needs. Additionally, the maturity benefit ensures a lump sum payout at the end of the policy term.
Investment Example – ₹150 per day to ₹26 lakhs If you invest just ₹150 per day, your monthly investment will be ₹4,500 and ₹54,000 per year.
Let’s say you start the policy when your child is 1 year old and continue it till the child turns 25. By the end of the policy term, you can get up to ₹26 lakhs, which includes:
Sum Assured
Annual bonuses declared by LIC
Final Additional Bonus (FAB)
This amount can be used for your child’s college fees, wedding expenses or to start a business.
Eligibility Criteria
Minimum entry age of child: 90 days
Maximum entry age of child: 12 years
Policy period: Up to 25 years of child’s age
Premium payment period: 20 years to be deducted from the entry age of child
If your child is above 12 years of age, this policy cannot be taken for them.
When will you get the money?
One of the attractive features of LIC Jeevan Tarun Policy is the periodic payments before maturity: From the time the child turns 20 to the age of 24, you will receive annual survival benefits. In the 25th year, you will receive the maturity amount, which includes the remaining sum assured and all accumulated bonuses. This ensures that parents have the opportunity to access funds during their crucial educational years without breaking other savings.
Key benefits of LIC Jeevan Tarun Policy
Financial security – Protects the child’s future even in the absence of the parents.
Assured & Bonus Benefits – Maturity and death benefits, along with annual bonuses.
Loan Facility – You can avail loan against the policy in case of emergency.
Flexible Payment Options – Choose the percentage you want to insure for survival benefits and the percentage as maturity payout.
Tax Benefits –
Premium Paid: Tax Deductible under Section 80C of the Income Tax Act. Maturity/Death Benefit: Tax Free under Section 10(10D).
Why Choose LIC Jeevan Tarun?
Trusted Company: LIC is the largest and most trusted life insurance company in India.
Child-centric plan: Specially designed for the needs of education and youth.
Affordable Premiums: Start small and build a large corpus over time.
Dual Benefits: Savings + Life Insurance Cover.
How to Apply for LIC Jeevan Tarun Policy
Visit the nearest LIC branch – Carry your ID proof, address proof, child’s birth certificate and photographs.
Contact an LIC agent – they can help you calculate the premium based on your target maturity amount.
Fill in the proposal form – provide accurate details and select the benefit option of your choice.
Medical check-up (if required) – In some cases, LIC may ask for a medical check-up.
Conclusion
LIC Jeevan Tarun policy is an excellent investment option for parents who want to start small but aim big for their child’s future. With a disciplined habit of saving ₹150 per day, you can ensure that by the time your child reaches adulthood, they have the financial support to pursue higher education, professional training or entrepreneurial dreams without worrying about money.