LIC Jeevan Tarun (Plan No. 934)


The LIC New Jeevan Tarun Plan is a non-linked premium plan for your children. The main aim of this plan is to provide good protection and savings of components to secure your child’s future.

Nonetheless, all lives are important, hence this plan is made with acknowledgment of the expenses that your child might face, which further include higher education, coaching fees, and other activity fees. This plan offers a survival benefit of payments and also further allows loan facilities to emanate surrender value.

Key features of Jeevan Tarun

The New Jeevan Tarun plan provides a wide range of key features to look after. The key features are described below:

  • This is a non-linked participating premium plan pay.
  • It provides a mixture of both protection and savings features for your children.
  • The plan pays benefits from 20-24 age
  • At the age of 25 years, maturity benefits are available for the children.
  • In this single plan 4, survival benefits are listed.
  • Only parents and grandparents can take part in the purchasing of the plan for a child ages from 0-12 years.
  • The Risk Commencement date for children is less than 8 years is 2 years. For those who have already reached 8 years of age, the risk will begin quickly.

Benefits of LIC Jeevan Tarun Policy

A Child Insurance plan provides a variety of benefits. Some of the major benefits of this plan are listed below:

  1. Death Benefit

If the policyholder dies or meets an accident before the date of “Risk of Commencement” then all the premiums paid will be provided to the nominee. Extra premium will not be provided.

  1. Before commencement of risk benefits

In this case, the death benefits will be enjoyed and no extra sum of premiums will be paid excluding taxes, extra, or rider premium. No interest will be provided in this scenario of amounts.

  1. After commencement of risks benefits

If this happens, the company will provide the death benefit on all premiums paid by the holder. The sum assured on death plus vested Simple Reversionary Bonuses and Final Additional Bonus will be the death benefit. It will be 10 times higher than the annual premium. The 125% of the sum assured will be the absolute amount assured to be paid on death.

The death benefit payable will be approximately 105% of all premiums paid. The premiums further do not include any taxes, riders, or extra premiums.

  1. Survival Benefits

This offers a fixed amount of sum which the account creator can select at the very beginning. The sum will be provided after the completion of 20 years and also on each next four policy anniversaries.



Policy Anniversary coexisting/ Following Fulfilment of ages



20-24 YEARS Nil 5% each year 10% each year 15% each year


  1. Maturity Benefits

If the holder can reach the policy terms then a fixed amount of percentage of the sum will be provided on the maturity.


Maturity Age











25 Years 100% 75% 50% 25%


  1. Participation in Profits Benefits

This plan allows you to enjoy the corporation’s profit and also provides you Simple Reversionary Bonuses. Furthermore, it provides the added bonus when you or the dead or maturity provided will claim the policy.


To enjoy this policy your child should meet the following criteria.

Minimum Sum Assured INR. 75,000
Maximum Sum Assured No limit
Minimum Age at entry 90 days (last birthday)
Maximum Age at entry 12 Years ( last birthday)
Minimum Maximum Maturity Age 25 Years (last birthday)
Policy Term or Maturity 25 Age at entry years


Riders offered by LIC Jeevan Tarun

There is one rider that is offered by the new Jeevan Tarun Plan.

  • LIC Premium Waiver Benefit Rider: The new LIC Jeevan Tarun is offering an additional rider to provide extra protection for an added premium to the account holder of the policy means the parent or grandparent, or who is paying the premium. If that subscriber on the policy dies then all the future premiums will be waived off and the policy will continue to be active till the next policy term chosen.

Additional Benefits on Jeevan Tarun

Along with the above benefits and the added riders, this plan provides some more interesting features with additional benefits. The benefits are listed below:

  • Revival Period

This policy can be resuscitated if expires. And resuscitate process should be done within a period of less than 2 consecutive years from the last date premium.

  • Free Look period

There is a 15 days free look period in this plan offered from the date of receipt of the policy bond. If found any problem the policy can be returned with proper objections and stating of reasons. On that note, the policy will be closed and the amount will be given back to the holder eliminating all the expenses incurred.

  • Value Surrender

To activate the Surrender Value the holder has to continue the account for at least 2 consecutive years for less than 10 years of the policy term. And if the policy term is greater than 10 years then it will be a minimum of 3 consecutive years.  The percentage of total premiums paid excluding extra premiums and premiums for riders will be considered as the guaranteed surrender value.

  • On loan Policy

The subscriber can ask for a loan on this policy as per the company’s terms and conditions including the guaranteed surrender value, which is not constant and can be changed from time to time.


The only exclusion that falls under this plan policy, which further includes:

  • Suicide- If the holder attempts suicide within 1 year from the beginning date of the policy then no death benefit will be further provided to the holder or to the nominee. Only if the policy is in force the company will only return 80% of the premiums excluding all taxes, riders, and other assurance Riders.


  1. Is Jeevan Tarun a good Policy?

LIC’s New Jeevan Tarun Policy is a good policy that offers both protection and savings that are related to secure a child’s future.

  1. What is the benefit of the Jeevan Tarun Policy?

– The Survival Benefit of Jeevan Tarun Plan.

– 5% of sum Assured for 5 years.

– 10% of Sum Assured for 5 years.

– 15% of Sum Assured for 5 years.

  1. How can I surrender Jeevan Tarun Policy?

According to the Surrender Value, the policy can be surrendered at any time during the policy term of at least two full years’ full payments. On surrender of the policy, the authority shall pay the surrender value equal to the higher of Guaranteed Surrender Value or Special Surrender Value.

  1. What does sum assured mean?

The Sum assured is the total amount of the policy assured by the insurance at the time of purchasing it. Under any situation, such as a death, the Sum will be the total value to be paid by the insurance policy to the holder.

  1. How can I revive my policy?

To revive your policy all you have to do is pay the due amounts along with interest. Moreover, it is crucial to keep in mind that if you have any riders attached to your base plan, the same shall also be revived and there shall be no interchange in reception for the holders.

  1. Can I get a Loan against this Policy?

Yes, you can receive a loan against your policy but only when your plan has achieved the surrender value.

  1. What are the bonuses offered by this plan?

This offers Simple Reversionary Bonuses, which are declared as per the experience of the Corporation only if the policy is in force.

  1. How is the LIC maturity amount calculated?

It should be equal to the Sum Assured + Bonus Amounts which you will pay throughout the policy term + any Final Addition Bonus if declared.

  1. 9. Can I check my LIC Policy Maturity amount Online?

Yes with the following steps you can check it online.

  • Click on e-Services then login with your user-id and password.
  • Register your policieswith the e-services by filling up the form.
  • You need to print the form, sign it and again upload the scanned copy in the portal.
  • Upload the scanned image of anyone, PAN Card or Aadhaar Card or Passport.
  1. 10. What kind of death benefit is offered to this plan?

The death benefit can be either lump-sum amount or in installments. The holder can further choose the benefits to pay. Chechout other policies as well.

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