Forget FD-RD, this is LIC's 'Tarun' plan, there will be a rain of money throughout life! Tension will come to an end

LIC's Jeevan Tarun policy is a simple way to secure children's education and future. In this, a small investment provides a large fund at a fixed time, which becomes a financial support in higher education and necessary expenses.

Every parent dreams that their children get a good education and move forward in life, but many times it happens that financial constraints become the biggest obstacle in this path. Then in such a situation, Life Insurance Corporation of India (LIC)'s "Jeevan Tarun Policy" can prove to be an excellent support. Yes, this policy not only helps in meeting the expenses of children's higher education, but also makes their future financially secure. Due to which, it becomes easy to fulfill the dreams of children with the funds received at the fixed time.

What is Jeevan Tarun Policy

Let us tell you that Life Insurance Corporation of India (LIC)'s "Jeevan Tarun Policy" has been specially designed keeping in mind the needs of children's education and youth. This scheme gives parents the opportunity to create a big fund through small investments. The special thing is that by investing just Rs 150 per day, you can invest Rs 4500 in a month. That is, by saving ₹ 150 daily, you will be able to invest ₹ 4,500 every month. With this investment of 4500, you can create a fund of about 26 lakh rupees for your child.

What will this fund be used for?

This huge fund can prove to be helpful in meeting the child's higher education, beginning of career or other important needs, which makes the future of children financially strong. This is the reason why LIC Jeevan Tarun Policy is an excellent option for parents.

Although this is a limited premium payment scheme, in which one can get the benefit of investment as well as insurance cover. It is believed that in this policy the policyholder deposits the premium for a fixed period, and a lump sum amount is received when the child turns 25 years old.

What is the account of fund collection

If you invest in LIC Jeevan Tarun policy, it becomes around Rs 4,500 per month and Rs 54,000 annually. Also, if this policy is started at the age of 1 year of the child and continued for 25 years, then at the end of the policy, a maturity amount of about Rs 26 lakh can be received. This fund can include sum assured, annual bonus and final additional bonus. This scheme can become a strong financial support for children's education, marriage or other major expenses.

Right age for investment

To avail the benefit 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, then this plan will not be available. The total period of the policy is decided on the basis of the current age of the child. For example, if the child is 5 years old, then the period of the policy will be 20 years (till the completion of 25 years of age).

Funds in the form of money back

Its specialty is that you can get money not only on maturity but also in between. When the child turns 20 years old, a fixed amount can be given as money back every year till the age of 24 years. After this, in the 25th year, the entire maturity amount of the policy can be received together, which includes the remaining sum assured, annual bonus and final additional bonus, in this way this plan helps in the needs of children at every stage.

You will also get tax benefits

LIC Jeevan Tarun Policy also gives an opportunity for tax savings. By investing in this policy, you can avail exemption under Section 80C of Income Tax. Also, the amount received on maturity of the policy or the death benefit received in case of an accident is completely tax free, as it comes under Section 10(10D). (Note: This article is for information only and should not be considered as investment advice in any way, suggest consulting financial advisors for investment)

FAQ

1. For whom is Jeevan Tarun Policy designed?

This policy is specially designed keeping in mind the education and future needs of children, so that their dreams can get financial security.

2. What should be the age of the child for this policy?

The minimum age of the child should be 90 days and the maximum age should be 12 years.

3. What can be the minimum amount of investment?

You can start investing in this policy by investing just ₹150 per day i.e. ₹4,500 per month.

4. When do you receive the funds from the policy?

Money back is received between the ages of 20 and 24 and bonus is received along with the maturity amount in the 25th year.

5. Does this policy offer tax benefits?

Yes, you get tax exemption under section 80C and tax free benefits on maturity and death benefit under section 10(10D).