Life Insurance Corporation (LIC), the country’s largest government insurance company, has plans for people of all ages. This insurance company offers plans for children to old people. Many schemes of LIC are very popular, in which people can get good returns by investing. If you want to invest for the future of your children, then you can invest in LIC’s Jeevan Tarun Policy. This scheme has been prepared on the basis of the future of the children.
Life Assurance Savings Plan
LIC Jeevan Tarun policy is a non linked, participating, individual, life assurance savings plan. The insurance company provides both protection and savings facilities by investing in this policy. Parents can invest in this plan keeping in mind the education and other needs of the children. To take LIC Jeevan Tarun policy, children should be at least 90 days old and this plan cannot be taken for children above 12 years of age.
For how much money will I have to take the sum assured?
Full benefits are available under this policy when the child is 25 years old. You have to pay the premium till the child is 20 years old. You can take this policy for a minimum sum assured of Rs 75,000. However, there is no maximum limit fixed for this. If you buy the policy for the child after 12 years, then the term of the policy will be 13 years with a minimum sum assured of five lakh rupees.
Save Rs 150 daily
If you save Rs 150 a day for your child and invest in Jeevan Tarun policy, your annual premium will be Rs 54,000. In this way, your total investment in eight years will be Rs 4,32,000. After this, you will get a bonus of Rs 2,47,000 on the investment amount. Apart from this, the sum assured of the policy will be five lakh rupees. After this you will get Rs 97,000 as loyalty bonus. In this way you will get a total of Rs 8,44,500.
premium payment options
One can pay the premium on yearly, half-yearly, quarterly or monthly basis. LIC has designed this policy keeping in mind the needs of children. Parents can invest in this plan keeping in mind the education and other needs of the children. LIC is considered very safe in terms of investing. That’s why many people invest in it.
