LIC Jeevan Tarun: If your child is 12 years old and you want to prepare funds for his bright future from now, then you can invest in this plan.
Life Insurance Corporation of India is known for making plans for everyone. Most of these plans offer assurance along with life insurance. LIC is a market leader as it offers plans for all ages and every section of the society. For example, take LIC Jeevan Tarun Policy only.
LIC Jeevan Tarun can secure your future needs for as low as Rs.150 per day. The time duration of this scheme is also less as compared to other schemes. Here we will give you some basic information about LIC Jeevan Tarun.
- LIC Jeevan Tarun is a non-linked, participating plan. It is designed keeping in mind the short-term funds. Explain that it also gives the benefit of LIC cover (LIC) to the beneficiary.
- This scheme can prove to be a boon for young parents. You can take this plan to meet your children’s education fund when they grow up. It can also be used for their weddings or other such funds.
- Under this plan, you can invest money for 20 years for 25 years of insurance cover. The minimum sum assured is Rs 75,000 and there is no limit on the maximum sum assured.
- You can pay the premium monthly, quarterly and half-yearly and annually.
- This plan cannot be purchased for children above 12 years of age. They will get money when they grow up till the age of 25 years. This means that the plan can be bought for a period till the child reaches the age of 25 years.
- If you spend Rs 150 per day in this scheme, which is Rs 4,500 per month, you will get Rs 8.44 lakh when the child grows up. This calculation is based on the assumption that the child was 12 years old when the LIC plan was purchased.
