Have you heard about LIC’s Jeevan Tarun? It’s a smart life insurance plan made to keep your child’s future safe. This easy savings plan mixes good protection with great savings to help your growing child. With Jeevan Tarun (UIN: 512N299V02), you can make sure your child’s dreams come true, no matter what happens later.
What is LIC’s Jeevan Tarun Plan?
LIC’s Jeevan Tarun is a smart way to save for your child’s future. The plan gives money every year from ages 20 to 24. This can help pay for college or other things they want to do. At age 25, they get a big payment to start their grown-up life.
With Jeevan Tarun (UIN No. 512N299V02), you can pick how much money your child will get each year. There are four choices. You can match the payments to what your child needs and what you can afford. This makes Jeevan Tarun a savings plan that you can change to fit your family.
Good Things About It
- If Something Bad Happens: If something happens to you before the plan starts, LIC gives back all the money you paid (but not the tax money). If it happens after the plan starts, the person you pick gets 10 times the money you pay every year or 125% of the money the plan is worth (whichever is more). They also get extra money the plan has made. This helps keep them safe with money.
- Money for Your Child: From ages 20 to 24, your child gets part of the plan‘s money each year. You pick how much when you start. This money can help pay for school, start a job, or do things they like.
- Big Payment at the End: At age 25, your child gets a big sum of money. It’s part of the plan‘s worth and any extra money it made. This can help them a lot when they’re starting their own life.
- Making More Money: With Jeevan Tarun, your money can grow. Every year, LIC shares its profits with the plan. If there’s extra money when the plan ends or if something bad happens, you could get even more back.
Who Can Get It
To start Jeevan Tarun for your child, here’s what you need to know:
| What to Look At | What It Is |
|---|---|
| Youngest Age | 90 days old |
| Oldest Age | 12 years old |
| How Long It Lasts | 21-25 years (depends on age) |
| How Long You Pay | 16-20 years (depends on age) |
| Smallest Amount | ₹75,000 |
| Biggest Amount | No limit |
Ways to Pay
Jeevan Tarun lets you choose how the money is paid out. This helps you match it to what your child will need. When you start the plan, you can pick from four options. Each one pays different amounts every year (from ages 20 to 24) and a different big amount at age 25.
| Choice | Money Each Year (20-24) | Big Payment (25) |
|---|---|---|
| Choice 1 | No money each year | 100% of plan‘s worth |
| Choice 2 | 5% of plan‘s worth each year | 75% of plan‘s worth |
| Choice 3 | 10% of plan‘s worth each year | 50% of plan‘s worth |
| Choice 4 | 15% of plan‘s worth each year | 25% of plan‘s worth |
Other Good Things
We know life doesn’t always go as planned. That’s why Jeevan Tarun gives you extra time to pay. You get 30 days for yearly, half-yearly, and every 3 months payments. For monthly, you get 15 days. This helps keep your plan going even if money is tight for a bit.
If you need money, your Jeevan Tarun plan can help. After paying for 2 years, you can borrow money from it. This lets you handle surprises without messing up your child’s future money.
If you have to stop the plan after paying for 2 years, Jeevan Tarun still gives you money back. You get the bigger amount of two choices. This makes sure you don’t lose all your savings even if you can’t keep going.
Life gives second chances, and so does your Jeevan Tarun plan. If you stop paying and the plan lapses, you have 5 years to start it again. You just pay what you missed with a little extra. This brings back your child’s money safety net.
Extra Protection
While Jeevan Tarun protects your child’s future, you can make it even stronger with LIC’s Premium Waiver add-on. If you pick this and something bad happens to you, LIC pays the rest of the payments for you. Your child’s plan (UIN: 512N299V02) stays the same, with money still coming at the right times. This shows how much you love and plan for them.
When It Doesn’t Pay
- If something very sad happens and the person with the plan dies by suicide within the first year, the money paid out might be different. It’s important to read and understand this part carefully to avoid any confusion later.
Common Questions
Who can get the Jeevan Tarun plan?
Jeevan Tarun is made to help parents and grandparents keep their child’s future bright. If you have a little one between 90 days and 12 years old, you can start this plan for them. It’s a sweet way to show how much you love them and want them to do well.
How long can the plan last?
With Jeevan Tarun, you can pick a length that matches your child’s big moments. The shortest is 21 years, letting you help pay for school from when they’re little to when they’re grown up. The longest is 25 years, giving them money as they start working.
Is there a biggest amount of money the plan can be worth?
LIC’s Jeevan Tarun (UIN No. 512N299V02) lets you dream big for your child. There’s no top limit on how much the plan can be worth. This lets you give them a strong money base for what they want to do. But to make sure most people can afford it, the smallest amount is ₹75,000. That’s still a good start.
Can I change how the money is paid out later?
To keep your Jeevan Tarun plan (UIN: 512N299V02) running smoothly, the way you pick to get the money at the start can’t be changed later. This is why it’s really important to think hard about what your child will need in the future. Choose the option that you think will help keep their money safe in the best way.