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LIC Jeevan Tarun Policy (Plan No.834) Review

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LIC Jeevan Tarun Policy (Plan No.834) Introduction

LIC Jeevan Tarun Policy (Plan No.834) is an optional money back policy introduced by LIC of India. LIC Jeevan Tarun Money back policy is a non-linked, with profits plan which is specially designed for children to meet their financial problems and their educational needs. LIC Jeevan Tarun Policy (Plan No.834) is a limited premium payment money back plan. LIC Jeevan Tarun money back Plan No.834 is a flexible plan which provides all types of benefits such as Death benefits, Maturity benefits, Survival benefits. Under this LIC Jeevan Tarun Policy 834, LIC’s Premium Waiver benefit rider is also available by paying additional premium.

LIC Jeevan Tarun Policy

Under this LIC Jeevan Tarun Money back plan, Maturity Benefit is Payable at the age of 25 years only and Survival benefits are payable for the last five years only i.e., at the age of 20 to 24 years. If the policyholder has chosen for Survival Benefits then the Policyholder can opt for any of the four options provided by LIC Jeevan Tarun Plan which is tabulated below. 

Option Name Survival Benefits Maturity Benefits
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

LIC Jeevan Tarun Policy (Plan No.834) Eligibility Conditions

Entry Age (in Years)
  • Minimum – 90 days (Completed)
  • Maximum – 12 years (last birthday)
Maximum Maturity Age
  • Maximum – 25 Years (last birthday)
Policy Term
  • (25 – Entry Age ) (in years)
Sum Assured (SA)
  • Minimum – Rs. 75,000
  • Maximum – No limit

      Note: 

  • (From Rs. 75,000 – 1,00,000) – SA (in multiples of Rs. 5000)
  • Above Rs. 1,00,000 – SA (in multiples of Rs. 10,000)
Premium Paying term (PPT)
  • (20 – Entry Age) (in years)

LIC Jeevan Tarun Policy (Plan No.834) Benefits

Under this LIC Jeevan Tarun optional Money back policy 834 survival benefits, maturity benefits, death benefits, rider benefits are  available. Detailed explanation about benefits of LIC Jeevan Tarun Plan 834 are given below.

Death Benefits: 

  • On death before the date of Commencement of risk: Death benefit is paid as total amount of Premiums paid excluding taxes, extra premium and rider Premiums (if any).
  • On death after the date of Commencement of risk: Death benefit is paid as Sum Assured on death + Vested Simple Reversionary bonuses and Final Additional Bonus (if any).

Note: 

  • Sum Assured on death defined  as higher of 10 times AP (Annualized premium) or absolute amount assured to be paid on death i.e., 125% of Sum assured.
  • This death benefit shall not be less than 105% of total premiums paid as on date of death.

Survival Benefits: 

Survival benefits are payable for the last five years of Policy term. A fixed percentage of Sum assured is payable to the Policyholder every year. The fixed percentage of sum assured depends on the option chosen by the policyholder. Under this LIC Jeevan Tarun optional Money back plan 834 there are four options are available to choose. Four options of Survival benefits are given below.

Policy Anniversary coinciding with/following completion of ages Percentage (%) of Sum assured to be paid as Survival Benefit
Option 1 Option 2  Option 3 Option 4
20 to 24 years  Nil  5% each year 10% each year 15% each year

Maturity Benefits:

  • Under Maturity benefit, the policyholder will receive the Sum Assured on Maturity + Vested Simple Reversionary bonuses and Final Additional Bonus (if any). 
  • Sum Assured on maturity depends on survival benefit in which the option chosen by policyholder. If Policyholder opt for any of the four options then the maturity benefits given to policyholder are as follows.
Option Name Maturity Benefit
Option 1 100% of Sum Assured
Option 2 75% of Sum Assured
Option 3 50% of Sum Assured
Option 4 25% of Sum Assured

Premium Waiver Benefit Rider:

On Payment of additional Premium LIC’s Premium Waiver Benefit Rider is provided to the policyholder. This Premium Waiver Benefit Rider is an Optional rider which can be opted along with basic plan. Terms and Eligibility Conditions of LIC’s Premium Waiver Benefit Rider are tabulated below.

Entry Age
  • Minimum – 18 years(Completed)
  • Maximum – 55 years(Nearest birthday)
Term of rider
  • 20 – Age of child at the time of opting the rider
Maximum Cover ceasing age
  • 70 years (Nearest birthday)

LIC Jeevan Tarun Policy (Plan No.834) Premium Calculator

LIC Jeevan Tarun Policy No.834 Premium Calculator helps you to calculate your premium along with the Maturity benefits, Death benefits, Survival benefits and Waiver Rider benefits.

LIC Jeevan Tarun Premium Rates

The below Jeevan Tarun Lic Premium rates are exclusive of service tax.

 

Comments

  5. KARUNAKAR ROUT says

    LICI PLAN NO-834 IS VERY FANTASTIC IT SHOULD BE LUNCHED VERY SOON. K.K. ROUT(CHIEF LIFE INSRANCE ADVISORE)

    Reply

  11. Tarun Kumar Das says

    This plan is not bad but money back should be after 16 years of child for his education purpose. And maturity should be after 21 years of child. Because there is no need money for education when child is 25 +

    Reply

    • Krishna says

      If you want Star Health Insurance Company Liesence or Agency please call me
      Krishna upadhyay
      9975265413

      Reply

  17. surinder verma says

    834 Jeevan Tarun is very gud n best plan for chaild n perents LIC introduce a need base
    n risk cover plan……thanks to LIC

    Reply

  19. shiv kumar -lic adviosr mumbai says

    Hi… If some one want details on this beautiful child plan can call me or whats App me on 9167628121.
    You may write me on shivkumar.licofindia @gmail.com

    Shiv Kumar Mishra
    9167628121

    Reply

  22. tarlok says

    i am tarlok singh main lic ka agent banna chahta hoo. plz helpme
    tarlok singh s/o harmash singh
    vill rajdhan post tanda
    distt hoshiarpur
    pin 144203
    ph.09876396991

    Reply

    • Guru says

      Everything is prohibited in Islam. Even peaceful living is prohibited that is why u have so many jihadis roaming around.

      God Bless them with some sense of justice. When the concept of Insurance did not exist during the times of

      Mohamed the Prophet how is it prohibited my friend Bashir.

      Reply

  24. RAJIV KR PANDEY says

    I LIKE THIS POLICY, MY SON IS 4 YRS OLD I WANT TO TAKE RS 5.00 LAKHS AT THE TIME OF MATURITY THEN HOW MUCH PREMIUM TO BE PAID OR DEPOSITED BY ME.
    PLEASE HELP.

    Reply

  28. Rupinder Singh says

    Dear Sir,

    We applied child policy ( jeevan tarun policy sum assured Rs. 10, 00, 000.00 ) through your local agent dtd 17.06.2015 but till date I am waiting for policy copy ( policy no.302570004), when we approch for your local agent name Mohan lal and Rajiv Kumar , Sanehwal , regarding policy status , they did not respond us correctly and his behaviour is very bad and misguided me also before applied the policy .

    Now I want my money back as soon as possible.

    Rgds
    Rupinder Singh
    9888926461

    Reply

  31. vikram.h. says

    dear sir

    i am new agent of lic.now my DO gave combination of jeevan anand and jeevan tarun. so,can you please tell me what is benifit and how it works. give me one example of this working

    Reply

  34. Ramakant sen says

    sir…mere Bete ki age 4 yrs h ek lic agent ki advice k mutabik 1500/- per month premium hogi aur 20 yrs tak jama karna hoga 20-25 yra k bich ever year 45000/- thousand money back h then bete ki 25 yrs age k baad total amount 6lack 60 thausand bataya h…kya ye info sahi h plz reply me…Thanks

    Reply

  42. Prashant Parwe says

    If any wanted to insure child for better future for education, marriage, and many more finincial ambiguity comes in future you can contact me
    Prashant Parwe
    9960278435
    LIC Financial advisor

    Reply

  45. Sanajy says

    Sir this is sanjay form Mysore ( Karnataka) working as driver, i have one year old son, can you please recommend which plan is better for my son for his education etc, whatever you suggest i will follow you, because i ask some insurance advisor they will suggest from their beneficial point of view, since my earnings is average, so whatever you suggest i will follow, because i dont want my son to be driver like me , please suggest me

    Reply

  53. SADASHIV PANDURANG DALVI says

    I LIKE THIS PLAN. I WANT TO KNOW CAN WE GIVE 50 LACS SA IF FATHER INSURANCE IS ONLY 1 LAC

    Reply

  56. shailendra soni says

    I LIKE THIS POLICY, MY SON IS 4 YRS OLD I WANT TO TAKE RS 5.00 LAKHS AT THE TIME OF MATURITY THEN HOW MUCH PREMIUM TO BE PAID OR DEPOSITED BY ME.
    PLEASE HELP.

    Reply

  62. rakesh rao says

    i am 34 year old .i want to buy tarun policy for my niece (bhanji) 05year old,can i buy this policy as proposear & insured my niece ( bhanji ) for same. plz give suggestion……..rakesh

    Reply

  63. wahengbam dineshkumar singh says

    I am a propopser of my two children in the lic jeevan tarun plan-834 kakching branch Imphal west date of proposal is 26/03/2016 for the policy numbers 493540410, 493540411, But, unfortunately I do not get any information about the plan in my gmail website.
    I continue my premium at the time when the the agent asked to do. Please help how to get the Lic details of my children details from the website.

    Reply

  64. Tonjam says

    Jeevan tarun policy is eligible for online premium payment or not ?applied several times for NACH but fails. Help pze

    Reply

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