|Kabui: Zonal Manager, North Zone, LICI|
90 days up to 12 years with minimum sum assured of Rs 75,000, according to the press statement issued by LIC.
This is a flexible plan wherein depending on the requirement, the proposer can choose any of the four options for survival benefit payments from ages 20 to 24 years. And the maturity benefit is payable at the age of 25 years only. Here are the 4 options:
1. No survival benefit, but maturity benefit is 100% of Sum Assured
2. Survival benefit is 5% of Sum Assured every year for 5 years, and maturity benefit is 75% of Sum Assured.
3. Survival benefit is 10% of Sum Assured every year for 5 years, and maturity benefit is 50% of Sum Assured.
4. Survival benefit is 15% of Sum Assured every year for 5 years, and maturity benefit is 25% of Sum Assured.
The bonuses will be provided as per rules.
The Plan also has the option for availing Premium Waiver Benefit for the proposer, the statement further said.
In fact, the LIC has positioned “Jeevan Tarun” as an innovative instrument for “financial and career planning of the children for successful and stress free future”.