LIC's Jeevan Tarun
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LIC's Jeevan Tarun (Plan No. 934, UIN: 512N299V02) was a non-linked, participating, individual life assurance savings plan designed specifically for children. This plan combined protection and savings features, aiming to meet the educational and other needs of growing children through annual Survival Benefit payments from ages 20 to 24 and a Maturity Benefit at age 25.
🔑 Key Features
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Plan Type: Non-linked, participating, individual life assurance savings plan.
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Policy Term: 25 years minus the age at entry.
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Premium Paying Term: 20 years minus the age at entry.
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Premium Payment Modes: Yearly, Half-yearly, Quarterly, Monthly (through NACH), or salary deductions.
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Loan Facility: Available after payment of premiums for at least two full years.
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Grace Period: 30 days for yearly, half-yearly, and quarterly premiums; 15 days for monthly premiums.
🎯 Eligibility Criteria
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Minimum Entry Age: 90 days (completed).
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Maximum Entry Age: 12 years (nearest birthday).
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Maturity Age: 25 years.
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Minimum Sum Assured: ₹75,000.
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Maximum Sum Assured: No upper limit (subject to underwriting).