LIC Jeevan Tarun (Table No.834) - Review

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Eligibility Conditions and Other Restriction:

      • Minimum Sum Assured                             : Rs. 75,000
      • Maximum  Sum Assured                           : No Limit

 (The Sum Assured shall be in multiples of Rs. 5,000 from Sum Assured Rs. 75,000 to Rs. 100,000 and Rs. 10,000/- for Sum Assured above Rs 100,000)

    1. Minimum Age at entry                                    : [90] days  (last birthday)
    2. Maximum Age at entry                                   : [12] years (last birthday)
    3. Minimum/ Maximum Maturity Age            : [25] years (last birthday)      
    4. Policy Term                                                       : [25 – Age at entry] years
    5. Premium Paying Term (PPT)                        : [20 – Age at entry] years

Date of commencement of risk:                                             

Age at entry of the Life Assured is less than 8 years = one day before the completion of 2 years from the date                                                                                                                  commencement of policy or one day before the policy                                                                                                                    anniversary coinciding with or immediately following the                                                                                                              completion of 8 years of age, whichever is earlier.

For those aged 8 years or more, risk will commence immediately.

Date of vesting:

The policy shall automatically vest in the Life Assured on the policy anniversary coinciding with or immediately following the completion of 18 years of age and shall on such vesting be deemed to be a contract between the Corporation and the Life Assured.

Payment of Premiums

Yearly, Half-yearly, Quarterly or Monthly mode (through ECS only) or through SSS mode over the premium paying term of the policy

Mode and High S.A. Rebates

LIC Jeevan Tarun (Table No.834) - Review

Mode Rebate:

Yearly mode                                                -              2% of Tabular Premium
Half-yearly mode                                       -              1% of Tabular premium
Quarterly, Monthly, SSS                          -              NIL

High Sum Assured Rebate:


Sum Assured (SA)                                                      Rebate (Rs.)

75,000 to 1,90,000                                      -              Nil
2,00,000 to 4,90,000                                 -              2 per thousand SA
5,00,000 and above                                    -              3 per thousand SA

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Survival of the life insured

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

 Death Benefit

Death Benefit


“Sum Assured on Death” + vested Simple Reversionary Bonuses +Final Additional Bonus, if any

“Sum Assured on Death” = Higher of 10 times of annualized premium or Absolute amount Assured to be paid                                                                on Death i.e. 125% Sum Assured.

This Death Benefit shall not be less than 105% of the total premiums paid as on date of death.

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Why should you buy this plan?

  1. Sum Assured Guranteed
  2. Good Bonus declaration History
  3. Participates in LIC profits
  4. Trusted company
  5. Waiver of premium Rider available
  6. 4 Plan options available to choose from
  7. Tax benefits under section 80c and 10(10d)
  8. loan option available

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Why you should not buy this plan?

  1. Child is the life insured
  2. Premium has to be paid even after the death of the parents
  3. Very less returns compared to other products
  4. less liquidity options
  5. Long term commitment

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LIC's JEEVAN TARUN is a participating non-linked limited premium payment plan. This plan provides survival benefits from ages 20 to 24 years and Maturity Benefit at the age of 25 years.You can choose any of the 4 benefit options available for survival benefits. Apart from the Sum assured other benefits are Non guaranteed in this plan. The rate of return is very less somewhere ranging between 5% to 6%. Though i am posting this review in child plan category, this is not a full child plan. If you look for a complete child plan or investment plan, then this is not a correct plan which suits your needs.

Since the life insured in this plan is the child, you have to think twice before choosing this as a child plan. Waiver of premium benefit option of no use where the child is the life insured.This is not an Children Plan. Its a normal endowment plan with money back options

What You Pay and What You get

Example  : Arun is 30 year old. He buys LIC jeevan Tarun plan with a PPT of 15 years and Sum assured of  100,000 on his son name Varun (Age 5). His policy benefits are:

                            1. Guaranteed Survival Benefit of 15000 per year for 5 years from 15th to 19th policy year

                           2. Guaranteed Maturity Benefit of  25000 + simple reversionary bonus and Terminal Bonus* if any

                          3. Life cover of 1 lakh for the child for the next 20 years.

(* Since this is a newly launched product, Simple reversionary bonuses and terminal bonus rates are not calculated.)

Total Premium Paid         : 95625 plus taxes

Total Benefits Received : Rs. 1 Lakh (Guranteed) + 0.51 lakh ( Non Guranteed)

Bonus History-LIC Jeevan Tarun Plan

This is a newly launched plan and hence no Bonus history available. For Bonus declaration of other products of LIC click here

Liquidity- LIC Jeevan Tarun Plan

The policy can be surrendered at any time during the policy term provided premiums have been paid for atleast two consecutive years if PPT is less than 10 years and for atleast three consecutive years if PPT is 10 years or more.

The Guaranteed Surrender Value shall be equal to the total premiums paid (excluding taxes, extra premium and rider premium, if any) multiplied by the Guaranteed Surrender Value factor applicable to total premiums paid,  less any Survival Benefits already paid under the policy.

Loans under LIC Jeevan Tarun Plan

You can also avail of loans under this policy after the policy acquires a surrender value. Loans of up to 80% of the surrender value can be availed.

What happens if you discontinue your premiums?

If you are about to stop paying this policy make sure the following points are met to make the policy is made paidup

• At least 2 full years’ premium if the PPT is less than 10 years

• At least 3 full years’ premium if the PPT is 10 and more than 10

The policy can however be revived within 2 consecutive years from the date of first unpaid premium.

The policy lapses if the above conditions are not met. A lapsed policy will not get any benefits.

If You want to surrender the policy 

You can surrender the policy if :

  • At least 2 full years’ premium if the PPT is less than 10 years
  • At least 3 full years’ premium if the PPT is 10 and more than 10

 LIC Jeevan Tarun Plan is a traditional plan, the surrender benefits of this plan will be mostly lesser than the premium paid. suggests not to surrender this plan in-between to avoid loss.

For more details on this plan please go through the Product brochure.


This post on LIC Jeevan Tarun Plan is just a review of what the plan offers to the customers. We aim at educating ins and outs of this plan. We are trying to simplify the product and make it easy to understand. The Returns provided in this post are for Illustrative purpose only and are Not Guaranteed.  The waytoinsurance score is given by our own metrics of calculation and are no way related to the performance of this plan. All these details are derived from the below links.

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