New Delhi, Business Desk. As children grow up, so do their education and other expenses. In such a situation, if the parents do not save for the children from the beginning, then they face a lot of problem later. One has to travel here and there for an education loan. But, do you know that in the present time there are some such schemes, in which you can save the future of your children by depositing little money. One such is LIC’s Jeevan Tarun policy, which is designed keeping in mind the education and other needs of your children. In LIC’s Jeevan Tarun policy, you get both savings and insurance cover for your children. Let us know in detail about this good policy of LIC.
Jeevan Tarun Policy is a participating non linked limited premium payment plan. This plan has been designed keeping in mind the education and other needs of the children. It was launched by LIC in 2020. Children get both savings and insurance cover in this policy. Under this scheme, annual survival benefit is available for 20 to 24 years. If you invest in it from the very beginning, then later you will not need to ask anyone for money for your children’s education and marriage. The maturity period of this policy will be completed by the time your children attain the age of 25 years. Suppose the age of your child is 10 years, then the policy will mature after 15 years.
If you take this plan when your child is 12 years old and it is at the time of starting premium payment, then the policy term will be 13 years with minimum sum assured of Rs 5 lakh. If you save Rs 150 a day, your annual premium will be around Rs 55,000. At the same time, your total investment in 8 years will be 4,40,665, on which you will get a bonus of Rs 2 lakh 47 thousand. At the same time, the sum assured will be Rs 5 lakh. Apart from this, loyalty benefit of Rs 97,500 will also be available. In this way you will get a total of Rs 8,44,500.
Edited By: Sarveshwar Pathak