Who it suits
Parents who want payouts in the child’s early adult years.
LIC plans / Child Plans
Child Plans
New Plan no. 734 UIN 512N299V03
LIC’s Jeevan Tarun
Participating · Non-linked · Child plan
Child plan with yearly payouts from age 20 to 24 and the balance at 25, chosen from a few payout options.
90 days – 12 years (child)Entry age
Until the child is 25Policy term
Until the child is 20 or 25 (by option)Premium paying term
See the official brochure for the exact benefit formula.Sum assured
Plan highlights
What this plan gives you
The main features in plain words. The official brochure is the final word on every figure.
- Yearly payouts from age 20
- Balance at 25
- Bonuses under with-profits
How it works
Pay premiums while the child is young. Survival benefits start at 20 and a final amount follows at 25; the payout option is chosen at purchase.
Maturity benefit
Balance of sum assured plus bonuses at 25.
Survival / income benefit
Yearly payouts from age 20 as per the option chosen.
Options and riders
Payout options; see brochure
Step by step
How the plan runs
1
Start the planEntry age: 90 days – 12 years (child). Sum assured: See the official brochure for the exact benefit formula..2
Pay premiumsUntil the child is 20 or 25 (by option)3
Stay coveredPolicy term: Until the child is 254
Income during the termYearly payouts from age 20 as per the option chosen.5
Receive the benefitBalance of sum assured plus bonuses at 25.At a glance
Eligibility and plan limits
A quick reference before you discuss a proposal. Underwriting and channel conditions apply.
| Plan detail | As per summary |
|---|---|
| Plan number | 734 |
| UIN | 512N299V03 |
| Category | Child Plans |
| Plan type | Participating · Non-linked · Child plan |
| Entry age | 90 days – 12 years (child) |
| Policy term | Until the child is 25 |
| Premium paying term | Until the child is 20 or 25 (by option) |
| Sum assured | See the official brochure for the exact benefit formula. |
Important details
Policy conditions that apply to most LIC plans
Know the conditions, not just the headline.
Grace period
30 days for yearly, half-yearly and quarterly premiums; 15 days for monthly. Cover continues during this time.
Free look
30 days from receiving the policy document to return it if you do not agree with the terms.
Revival
A lapsed policy can usually be revived within 5 years of the first unpaid premium, with arrears, interest and proof of good health.
Surrender, paid-up and loan
A loan is available within surrender value after the first policy year (one full year’s premium paid); guaranteed surrender value needs two full years’ premiums.
Suicide within 12 months
If it happens within 12 months of the start of cover, the nominee receives 80% of premiums paid (policy in force).
Section 45
After three years a policy cannot be questioned except for proven fraud.
Quick answers
Questions families ask
Who is this plan for?
Parents who want payouts in the child’s early adult years.
What is the entry age?
90 days – 12 years (child)
What are the policy term and premium paying term?
Policy term: Until the child is 25. Premium paying term: Until the child is 20 or 25 (by option).
What sum assured can I choose?
See the official brochure for the exact benefit formula.
What do I receive at maturity?
Balance of sum assured plus bonuses at 25.
Does the plan pay anything during the term?
Yearly payouts from age 20 as per the option chosen.
Are there options or riders?
Payout options; see brochure
Will the amounts always be paid exactly as shown here?
This page is a summary. Actual benefits depend on the policy terms, premium payment status, the options chosen, underwriting and LIC’s official benefit illustration. The official brochure is the final word.
Want this explained in plain words?
Read LIC’s official brochure, compare the options, and I will help you choose what fits your family.
This page is a summary. Benefits, eligibility and premiums can change: the official LIC brochure for the plan is the final word, and I will confirm current terms for you.