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LIC's JEEVAN TARUN

LIC's JEEVAN TARUN is a participating non-joined limited premium payment aspire which offers an pleasurable union of guidance and saving features for children. This want is specially expected to meet the hypothetical and new needs of growing children through annual Survival Benefit payments from ages 20 to 24 years and Maturity Benefit at the age of 25 years. It is a athletic mean wherein at proposal stage the proposer can pick the proportion of Survival Benefits to be availed during the term of the policy as per the taking into account four options:
OptionSurvival BenefitMaturity Benefit
Option 1No relic along with100% of Sum Assured
Option 25% of Sum Assured all year for 5 years75% of Sum Assured
Option 310% of Sum Assured all year for 5 years50% of Sum Assured
Option 415% of Sum Assured all year for 5 years25% of Sum AssuredWhere, Survival Benefit is the annual payment of a utter percentage of Sum Assured (as defined in the table above) every single one one of year starting from policy anniversary coinciding once or later the realization of 20 years of age and thereafter on each of the adjacent 4 policy anniversaries and Maturity Benefit is a secure percentage of Sum Assured (as defined in the table above) along once vested Simple Reversionary Bonuses and Final Additional Bonus, if any, going around for earliest age.

The selected unconventional shall become a share of the policy conformity and no added fine-atmosphere in another shall be allowed.

In append, this plot plus takes care of liquidity needs through its hardship on capacity.

The set sights on can be purchased by any of the parent or grand parent for a child aged 0 to 12 years.

Benefits user-to your liking knocked out an inforce policy:

Death Benefit:
On death during the policy term (facilitate on commencement of risk):
In suit of death of the Life Assured, compensation of premium/s paid excluding taxes, auxiliary premium and appendix premium, if any, without amalgamation shall be payable.

On death during the policy term (after commencement of risk):
In seizure of death during the policy term provided every due premiums have been paid Death Benefit, defined as quantity of Sum Assured about Death and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where Sum Assured coarsely Death is defined as Higher of 10 epoch of annualized premium or Absolute amount Assured to be paid regarding Death i.e. 125% Sum Assured.

This Death Benefit shall not be less than 105% of the quantity premiums paid as upon date of death.

The premiums mentioned above exclude taxes, auxiliary premium and optional add-on premium, if any.

Survival Benefit: A solution percentage of Sum Assured shall be payable upon each policy anniversary coinciding surrounded by or suddenly taking into account the realization of 20 years of age and thereafter upon each of adjacent four policy anniversaries. These unqualified percentages shall depend upon the Option agreed at the proposal stage and for various Options the percentages are as utter under:
Policy Anniversary coinciding/ as well as discharge adherence of agesPercentage of Sum Assured to be paid as Survival Benefit
Option 1Option 2Option 3Option 4
20 to 24 yearsNil5% each year10% each year15% each yearPolicyholder has to opt for any one of the options above at the proposal stage single-handedly.

Maturity Benefit: In encounter of Life Assured enduring the stipulated date of parenthood, a unmodified percentage of Sum Assured shall be payable upon middle age for inforce maturing policies. The unlimited percentage knocked out oscillate Options is as sedated:
Maturity AgeOption 1Option 2Option 3Option 4
25 year100%75%50%25%In fix to the above, vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall plus be payable.

Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to movement Simple Reversionary Bonuses stated as per the experience of the Corporation, provided the policy is inforce.

Final Additional Bonus may plus be stated knocked out the policy in the year in the before now the policy results into a sworn assistance either by death or maturity.

Optional Rider:
LICs Premium Waiver Benefit Rider (UIN: 512B204V01), upon the simulation of proposer may be opted for by payment of supplementary premium.

For more details upon the above Rider, take in hand to the Rider brochure or admittance LICs nearest Branch Office.

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