LIC Policy: Life Insurance Corporation of India brings policies for every category. Different types of benefits are given under different policies of LIC. Along with tax exemption, it provides loans and other facilities. Similarly, LIC has a Tarun policy (LIC Jeevan Tarun), which can be taken for children. This is a plan prepared keeping children in mind.
LIC Jeevan Tarun Policy Plan (LIC Jeevan Tarun Plan) is a non linked, participating plan. Under this scheme, you can invest keeping in mind the education and other things of the children. Under LIC’s Jeevan Tarun policy, investment can be made from 90 days to 12 years. In this, premium has to be paid for 20 years and after 25 years its benefit will be given.
Option to choose premium as per convenience
This policy of LIC can be taken for a minimum sum assured of up to Rs 75,000. Its maximum limit has not been fixed. It can be purchased in the name of children only. No one else can take advantage of this scheme. In this, according to the convenience, you can deposit the premium amount on monthly, quarterly, half-yearly and yearly basis.
Benefit of lakhs will be available in Jeevan Tarun policy
This is a participating limited payment scheme. Under this policy, it is necessary to deposit premium for 20 years. If you invest 150 rupees every month in this policy for your child, then it will be 54 thousand rupees annually. This means that in eight years your deposit amount will be Rs 4 lakh 32 thousand. On completion of maturity, you will get a bonus of Rs 2 lakh 47 thousand.
How much amount will be received
The sum assured will be Rs 5 lakh, with a loyalty bonus of Rs 97,000. This means that you will be given a total amount of Rs 8 lakh 44 thousand 550 on maturity. If the policy holder dies, then the premium is waived and the full amount is given.