LIC Jeevan Tarun policy news: The Life Insurance Corporation of India is the market leader when it comes to insurance in the country. LIC has been able to keep its market position due to its innovative products that cater to people of all ages and from all sections of the society. LIC has also released a plan for the parents of young children. The name of the plan is LIC Jeevan Tarun Policy. You can pay Rs 150 per day and secure the lives of your children. Here’s how the plan works.
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If you invest Rs 150 per day, you can save Rs 54000 per year. If you pay this amount as premium for LIC Jeevan Tarun, you can get a lump sum amount for a paltry sum.
The minimum age of the child should be 3 months and the maximum should be 12 years. The premium should be paid until the child is 20 years of age. There is a 5 year lock-in period. When your child turns 25, he/she will get the money that can be used to pay their college fee or more marriage.
The minimum sum assured will be Rs 75000. There is no upper limit for sum assured. If the child is 12 years of age, the policy term will be 13 years. Minimum sum assured will be Rs 5 lakh in this case.
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If your child is 12 years of age and you pay a premium of Rs 54000, you would have invested Rs 4,32,000. After eight years and the lock in period, you will get Rs 8,44,500. The total price for this is Rs 2,47,000. The loyalty bonus is Rs 97,000.
If your child is 2 years and you invest Rs 171 per day for the next 18 years, you would have invested Rs 1089196. You will get Rs 2824800 after 23 years.
