LIC Jeevan Tarun Plan-934 is a participating endowment assurance plan designed to provide financial protection and savings for your child’s future. One of its standout features is the annual scholarship payouts, which begin after the premium payment term ends and continue until the maturity date, ensuring support for your child’s education.
The LIC Jeevan Tarun Plan-934 Premium Calculator is an online tool that helps you estimate the premiums you need to pay to secure these guaranteed maturity benefits and scholarships for your child.
What is the LIC Jeevan Tarun Plan-934?
The LIC Jeevan Tarun is an endowment insurance plan offering life coverage and periodic scholarships to fund your child’s education. Here are some key features:
- Participating endowment plan with guaranteed and non-guaranteed bonuses.
- Provides life insurance throughout the policy term.
- Offers a lump sum or annuity as a maturity benefit.
- Annual scholarships are disbursed from the end of the premium paying term to maturity.
- Flexible premium payment and policy term options.
- Optional Accident Benefit cover.
- Tax benefits on premiums paid and benefits received.
In summary, the Jeevan Tarun plan is an ideal way to ensure your child’s education and life security while building up savings for future needs.
What is the LIC Jeevan Tarun Plan-934 Premium Calculator?
The LIC Jeevan Tarun Plan-934 Premium Calculator is a free, online tool provided by LIC to help prospective policyholders estimate the premium payable for this plan. Key features include:
- Easy-to-use interface requiring basic information like age, sum assured, and policy details.
- Calculates premiums with or without Accident Benefit cover.
- Provides estimates of maturity and money-back amounts.
- Accessible without the need for login or signup.
How to Use the LIC Jeevan Tarun Plan-934 Premium Calculator
Here’s a step-by-step guide to using the calculator:
- Visit the LIC Premium Calculator website.
- Select “Jeevan Tarun” from the product options.
- Enter your details:
- Date of birth
- Policy term (15-25 years)
- Premium payment term (5-15 years)
- Sum assured
- Choose Accident Benefit cover if required.
- Click on “Calculate Premium.”
- The premium estimate, maturity benefits, and money-back details will be displayed.
You can adjust the inputs to test different scenarios and find the best premium plan that fits your financial needs.
Benefits of LIC Jeevan Tarun Plan-934
The Jeevan Tarun Premium Calculator provides numerous advantages:
- Free and Quick: The calculator is available online and delivers instant premium estimates without any charges.
- Tailored Premiums: Estimates are customized based on your inputs such as age, sum assured, and policy term.
- Scenario Testing: You can modify parameters and see how they affect premiums, helping you make an informed choice.
- Maturity Amount Details: It shows the maturity corpus required to pay out scholarships and future benefits.
- Money Back Information: Displays money-back benefits for longer premium payment terms.
- Accident Benefit Coverage: Includes Accident Benefit premium estimates if selected.
- User-Friendly: Simple and intuitive, no complicated calculations or inputs required.
- Official Tool: As an LIC-approved tool, it provides reliable and accurate estimates.
- Accessible 24/7: The calculator is available anytime, anywhere, for your convenience.
FAQs on LIC Jeevan Tarun Plan-934
What is the minimum sum assured under the Jeevan Tarun plan?
The minimum sum assured is ₹1,00,000.
What is the policy term and premium payment term?
The policy term ranges from 15 to 25 years, and the premium paying term is between 5 and 15 years.
What are the age limits for the policy?
The minimum entry age for a child is 91 days, and the maximum entry age for the proposer is 50 years.
Does the plan offer survival benefits?
Yes, survival benefits or money-back payouts are made if the premium payment term exceeds 10 years.
Is a medical examination required?
No medical tests are required for sums assured up to ₹2 lakhs. For higher coverage, medical reports may be needed.
What bonuses can be expected under the plan?
The plan offers guaranteed additions and annual non-guaranteed bonuses, which enhance the maturity amount.
How are scholarship payouts determined?
Scholarship payouts start from the 6th year, offering 10% of the sum assured per year to support education.
Can the policy be purchased offline?
Yes, LIC agents can help you purchase the policy and calculate the premium offline.
How is the premium paid?
Premiums can be paid regularly on a monthly, quarterly, half-yearly, or annual basis, as per your preference.
Where can I find reviews for the Jeevan Tarun plan?
Reviews are available on the LIC website, online insurance portals, and forums.
Conclusion
LIC Jeevan Tarun Plan-934 is a unique child insurance policy that offers both life coverage and systematic savings for education needs. With the help of the LIC Jeevan Tarun Plan-934 Premium Calculator, parents can easily estimate the premiums they need to pay to secure their child’s future. The plan’s guaranteed benefits, along with annual scholarships and bonuses, make it a valuable long-term savings and protection tool for caring parents.
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