Why LIC Jeevan Tarun is a Smart Investment Choice for Parents?

Introduction to LIC Jeevan Tarun Plan
Key Features of LIC Jeevan Tarun Plan
Benefits of LIC Jeevan Tarun Plan
Riders Available With Jeevan Tarun Policy
Product Specification of LIC Jeevan Tarun Plan
What Makes it a Smart Choice for Parents?
Conclusion

As parents, we all want the best for our children – from their education to their future financial stability. And what better way to secure your child’s future than by investing in a reliable and profitable plan? That’s where LIC Jeevan Tarun comes in! This smart investment choice offers a unique combination of protection and savings that can help you provide for your child’s needs at every stage of life. So, if you’re looking for a comprehensive investment solution, keep reading to find out why LIC Jeevan Tarun is the perfect choice for parents.

Introduction to LIC Jeevan Tarun Plan

LIC Jeevan Tarun is a unit-linked insurance plan specifically designed for children between the ages of 3 and 25. It offers financial protection in case of the child’s untimely demise, as well as attractive returns that can be used to fund the child’s future educational and other needs.

The main features of LIC Jeevan Tarun Plan are:

– Financial protection in case of death of the policyholder during the policy term

– Sum assured plus accrued bonuses are payable on maturity

– Option to avail loan against the policy after it has acquired a surrender value

– Policyholders have the flexibility to choose from different investment options and life cover options

Why should parents consider investing in LIC Jeevan Tarun Plan? Here are some key reasons:

– It helps parents meet their long-term financial goals for their children, such as funding higher education or marriage expenses.

– The money invested in this plan grows over time, providing inflation-protected returns. This is especially important given the current rate of inflation in India.

– The policy provides death benefit coverage, which gives parents peace of mind in knowing that their children will be financially taken care of in case of an unexpected death.

Key Features of LIC Jeevan Tarun Plan

LIC’s Jeevan Tarun is a child insurance plan that offers financial protection to children in the event of the premature death of a parent. The key features of this plan are:

1) Death Benefit: In the event of the death of a parent during the policy term, the child will receive 100% of the sum assured as a lump sum payment.

2) Maturity Benefit: If the child survives to the end of the policy term, they will receive a lump sum payment equal to 125% of the sum assured.

3) Bonuses: Policyholders are entitled to receive bonuses declared by LIC during the policy term. These bonuses are payable on maturity or on death, whichever is earlier.

4) Policy Term: The policy term is 20 years.

5) Premium Payment Term: The premium payment term is 10 years.

6) Sum Assured: The minimum sum assured is Rs. 50,000 and there is no maximum limit.

Benefits of LIC Jeevan Tarun Plan

There are several benefits of LIC Jeevan Tarun Plan that make it a smart investment choice for parents. Some of these benefits are:

1. The plan offers financial protection to the family in case of the unfortunate death of the policyholder during the policy term.

2. It also provides a lump sum amount on maturity, which can be used for the child’s higher education or marriage expenses.

3. The policy has flexible premium payment options and provides various rider benefits that can be customized as per the need and requirement of the policyholder.

4. Under this plan, the child gets automatic cover from age 3 till 25 years, without any medical examination required. This makes it an ideal investment option for parents who want to secure their child’s future without any hassles.

Riders Available With Jeevan Tarun Policy

There are many reasons why the LIC Jeevan Tarun policy is a smart investment choice for parents. For one, it offers riders that can provide additional protection for the policyholder’s children. These riders include accidental death and disability benefit riders, as well as a critical illness rider. The policy also provides for a waiver of premium in the event of the policyholder’s death or disability. This means that the family will not have to bear the burden of paying premiums if something happens to the policyholder. The policy has a provision for Surrender Value, which allows the policyholder to receive back all of their premiums paid if they decide to cancel the policy before it matures.

Product Specification of LIC Jeevan Tarun Plan

LIC’s Jeevan Tarun is a policy specifically designed for children between the ages of 3 and 25. It offers financial protection in the event of the child’s untimely death, as well as a host of other benefits that make it an attractive investment choice for parents.

Here are some key features and benefits of the LIC Jeevan Tarun Plan:

– The plan provides death benefit coverage of up to Rs. 5 lakhs in the event of the child’s untimely demise.

– In addition to the death benefit, the plan also offers maturity benefits in the form of a lump sum payment equal to the sum assured, if the child survives till the end of policy term.

– The maturity benefit can be used by parents to fund their child’s higher education or marriage expenses.

– The policy also comes with an inbuilt accidental death benefit rider, which provides additional coverage in case of accidental death.

– Premiums paid under this policy are eligible for tax benefits under Section 80C of the Income Tax Act.

What Makes it a Smart Choice for Parents?

There are several reasons why LIC Jeevan Tarun is a smart investment choice for parents. First, it offers a high sum assured at an affordable premium. This makes it a great option for parents who want to secure their child’s future financially. Second, the policy also provides for additional benefits like educational benefits and accident cover. This makes it a well-rounded investment option that can help parents safeguard their child’s future in multiple ways. The policy has a flexible tenure, which allows parents to choose the duration of the policy based on their needs and objectives.

Conclusion

LIC Jeevan Tarun is an excellent choice for parents who are looking to secure the future of their children. With its attractive features like guaranteed returns, financial protection in case of untimely death or disability, and tax savings options, it’s a great way to invest your money with minimal risk. You can rest assured that you will get maximum benefits from this policy if you choose to invest in it. So go ahead and make an informed decision today for a better tomorrow!