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Every parent dreams that their children should get great education and move forward in life, but sometimes the lack of money becomes the biggest obstacle in this path. In such a situation, the “Jeevan Tarun Policy” of Life Insurance Corporation of India (LIC) can prove to be a great companion.

Yes, this policy not only covers the expenses of high education of children, but also makes their future completely safe in terms of money. This makes it very easy to convert the dreams of children into reality with the money received on time.

What is life Tarun Policy

Let us tell you that LIC’s “Jeevan Tarun Policy” has been prepared keeping in mind the needs of special children’s education and youth. This scheme gives parents a chance to deposit large funds from small investment. The most funny thing is that you can invest Rs 4,500 a month by saving only 150 rupees every day. That is, with a monthly investment of Rs 4,500, you can prepare a fund of about 26 lakh rupees for your child.

Which fund will be useful

This big fund will be useful in the child’s high education, the onset of career or any other essential things, which will make their future strong in terms of money. This is the reason why LIC Jeevan Tarun Policy is a great option for parents.

By the way, it is a limited premium payment scheme, in which investment as well as insurance cover is also benefited. In this, the policyholder collects premium for a fixed time, and the child gets a lump sum for completion of 25 years.

What is the account of fund collection

If you invest in LIC Jeevan Tarun Policy, it is about Rs 4,500 in the month and Rs 54,000 annually. Also, if this policy is started at the age of 1 year of the child and run for 25 years, then in the end, a maturity amount of about 26 lakh rupees can be found. This fund may include Samadord, annual bonus and final additional bonuses. This scheme can become strong economic support for children’s education, marriage or other big expenses.

The correct age of investment

To take advantage of LIC Jeevan Tarun Policy, the minimum age of the child should be 90 days and maximum 12 years. Yes, if the child is older than 12 years, this scheme will not be available. The total period of the policy depends on the current age of the child. For example, if the child is 5 years old, the duration of the policy will be 20 years (until the age of 25 years).

Fund as money back

The most important thing about this is that you can get money not only on maturity, but also in between. When the child is 20 years old, every year for 24 years, the fixed amount is given as a money back. After this, the entire maturity amount of the policy is found simultaneously in the 25th year, which includes the rest of the sum assord, annual bonus and final additional bonuses. In this way, this plan helps in every stage needs of the child.

You will also get benefit in tax

LIC Jeevan Tarun also gives a great opportunity to save policy tax. On investing in this, you can take exemption under Section 80C of Income Tax. Also, the amount received when the policy is matured or the death benefits found in an accident is completely tax free, as it comes under section 10 (10D). (Note: This article is only for information and do not take it as investment advice in any way, consult financial experts before investing)

FAQ

1. For whom is Jeevan Tarun Policy made? This policy is made keeping in mind the education and future needs of particular children, so that their dreams can get financial security.
2. How old should the child be for this policy? The minimum age of the child should be 90 days and maximum age should be 12 years.
3. What can be the minimum amount of investment? You can start investing in this policy only from just ₹ 150 i.e. ₹ 4,500 per month.
4. When is the policy received a fund? Money back is available between the ages of 20 and 24 years and a bonus with a maturity amount in the 25th year.
5. Does this policy get the benefit of tax exemption? Yes, tax exemption under section 80C and under section 10 (10D), there is a tax free benefit on maturity and death benefits.