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Child Plans

LIC as Introduced child plans mainly to focus unsecure your child for their higher education.the plans available are LIC Jeevan Tarun,Children Money back plan and Single Premium Plan.This plan gives options to choose survival benefit and helps to ensure financial requirements of child education from 18 to 25 years of child age

Key Features:

  • A plan to fulfill requirement child education
  • Option to select required amount from 18-25 year age of child
  • Premium waiver option is available
  • Paid premiums are eligible for tax rebate under sec 80C
  • Maturity amount is tax free under 10 (10D)
Eligibility Conditions & Restrictions for Jeevan Tarun Plan 
Minimum age90 days completed
Maximum age12 years
Policy Term25 minus (-) Age at entry
Premium paying term20 minus (-) Age at entry
Minimum Sum AssuredRs. 75,000
Maximum Sum AssuredNo limit
Premium paymentYearly / Half yearly / Quarterly / Monthly (Thru Bank)
Money back options OPTION 1 - No money back is paid (100% of Sum assured + Bonus is paid at age 25 years)
OPTION 2 - 5% of Sum assured is paid every year for 5 years from child age 20 to 24 years
OPTION 3 - 10% of Sum assured is paid every year for 5 years from child age 20 to 24 years
OPTION 4 - 15% of Sum assured is paid every year for 5 years from child age 20 to 24 years
LoanAvailable after 3 years
SurrenderAvailable after 3 years
On MaturityOPTION 1 - 100% of Sum assured + Bonus at child age 25 years
OPTION 2 - 75% of Sum assured + Bonus at child age 25 years
OPTION 3 - 50% of Sum assured + Bonus at child age 25 years
OPTION 4 - 15% of Sum assured + Bonus at child age 25 years
Premium waiver benefitAvailable from age 18 years to 55 years of proposer
Income Tax Benefits(i) Premiums paid are eligible for Tax rebate u/s 80c
(ii) Maturity amount / Death claim is non-taxable u/s 10(10d)
Eligibility Conditions & Restrictions for Child Plan 832 
Minimum age0 years
Maximum age12 years
Policy Term25 Age at entry
Minimum Sum AssuredRs. 1,00,000
Maximum Sum AssuredNo limit
Premium paymentYearly / Half yearly / Quarterly / Monthly (Thru Bank)
Money back is paid18th year of child - 20% of Sum assured
20th year of child - 20% of Sum assured
22ndyearof child - 20% of Sum assured
LoanAvailable after 3 years
SurrenderAvailable after 3 years
On maturity40% of the Sum assured + Bonus
Premium waiver benefit Available from age 18 years to 55 years of proposer
Income Tax Benefits(i) Premiums paid are eligible for Tax rebate u/s 80c
(ii) Maturity amount / Death claim is non-taxable u/s 10(10d)

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LIC Jeevan Tarun Child Plan