UIN No: 512N299V02

Features & Conditions:

PLAN 934 : LIC’s JEEVAN TARUN Minimum age at entry : 90 days
(Cir: PD/136 Dtd 31/01/2020, NB&R/233 Dtd 31/01/2020, Launch Date: 01/02/2020) Maximum age at entry : 12 years lbd
DETAILS: Age at maturity : 25 years lbd
This is non-linked, with profits, limited premium plan for children education needs. Policy term : 25 – Age at Entry
Premium Paying term: 20 – Age at Entry
DATE OF COMMENCEMENT OF RISK: Minimum S.A. : ₹75,000/- & in
For entry age less than 8 years LBD : multiples of ₹ 5,000 up to ₹ 1,00,000
One day before completion of 2 years from DOC or one day before Policy thereafter in multiples of ₹ 10,000.
Anniversary after completion of age of 8 years LBD, whichever is earlier. Maximum S.A. : No limit
For entry age 8 years LBD or more: Risk will commence immediately.
Available Riders:
SUM ASSURED ON DEATH: 125% of Basic SA Premium Waiver Benefit Rider.
DEATH BENEFIT: Maturity/Death Claim in Installments for
Before Commencement of Risk: Refund of Premiums paid Excluding GST. 5/10/15 years for Full or Part of
After Commencement of Risk: Sum Assured on Death + Vested Bonus + FAB if any. Maturity/Death Claim Amount: Option to
SURVIVAL AND MATURITY BENEFIT OPTIONS: To be chosen at proposal stage. be exercised - 3 months before Maturity and
Option Survival Benefit from Age 20 to 24 Maturity Benefit at Age 25 for Death Claim during lifetime by Life
1 No Survival Benefit 100% of S.A. Assured.
2 5% of S.A. every year for 5 years 75% of S.A. Mode of Payment:
3 10% of S.A. every year for 5 years 50% of S.A. Yearly, Half Yly, Qly & Mly ( SSS & NACH)
4 15% of S.A. every year for 5 years 25% of S.A. Rebates:
Example*: Age- 0, S.A.- ₹5,00,000, Option - 4, Basic Yearly Premium: ₹21,922 Mode Rebate: Yearly: 2%, Half Yly : 1 %
High Basic S.A. Rebate:
Entry In case of Death SB at SB at SB at SB at SB at Maturity
Upto 1,90,000 : Nil
Age 0 At Age 11 Age 20 Age 21 Age 22 Age23 Age 24 at Age 25
2,00,000 to 4,90,000 : ₹ 2 %o Basic SA
5,00,000/- & above : ₹ 3 %o Basic SA
15% of SA 15% of SA 15% of SA 15% of SA 15% of SA Grace Period: 15 Days for monthly mode
:₹75,000 :₹75,000 :₹75,000 :₹75,000 :₹75,000 and 30 days for other modes.
And
Premium Stops Claim Concessions: Available under Base
Plan only. Not apply to Riders & Death due
to Suicide.
Maturity Benefit
Paid up/ Surrender/Policy Loan:
= 25% of Basic S.A. + Vested Bonus + FAB After payment of 2 full years premium.
= ₹ 1,25,000 + ₹5,62,500 ( 45x500x25) Revivals: Within 5 years of FUP.
+ ₹2,25,000 (450x500)
= ₹9,12,500 Back Dating:
Allowed with lean Month’s benefits.
Proposal Form: 360 along with Addendum
Death Benefit for option & 300 if opted for PWB Rider.
= SA on Death + Vested Bonus for 12 years + FAB Tax Benefits :
= ₹6,25,000 + ₹2,70,000 (45x500x12) + Nil On Basic Premiums : u/s 80C
= ₹8,95,000 SB/Maturity/Death claim : u/s 10(10D)

Underwriting Rules:
Matching Insurance:
Actual Sum Assured (ASA) for SUC: On lives of parents and Siblings is insisted.
For NM, Juvenile MER, Special Reports, MHR & TRSA: Same is not required:
1.25 times of Basic S.A. only. Up to 10 lakhs TRSA – If PWB is not opted.
Up to 25 Lakhs TRSA – If PWB is opted.
Non –Medical :
Age 0 – 9 lbd : SUC- 40 lakhs Rating up Factor for Residence Extra:
Age 10 -12 lbd : SUC- 15 lakhs. Outstanding Policy Term:
Up to 6 years : 6.5625,
Age Proofs: 10 years: 2.1875, 15 years: 1.6875.
Only Standard age proofs Allowed. 20 years: 1.50, 25 years: 1.4375

Substandard Minor lives: NRIs & FNIOs Residence Group:

Proposals with BMI beyond standard range will be decided at Group I to III : Not Allowed.
ZUS/CUS with MM’s recommendation. Group IV : Allowed with extra.
Group V : Allowed without extra.
Grand Parents as Proposer: Mail Order : Group V NRIs and FNIOs Children by Birth
Allowed without PWB with consent of parents.

70 / Prerana Induction Training - Children Plans

JEEVAN TARUN Example: Age 0 Years
Presentation Details
SNo Date of Plan Name of Plan Term PPT Mode Sum Assured Accident Premium G.S.T. Bonus / Maturity
Commence Benefit G.A* Amount

1 20/11/2020 934 Jeevan Tarun - 4 25 20 Yly 5,00,000 0 21,922 986 45.0 9,12,500
Total 5,00,000 0 21,922 986 9,12,500

Annual Premium, Risk Cover & Loan Availability Table*

The below table shows the Annual Premium Paid, Risk Cover, Returns & Loan Availability at the end of each year. The Tax saved is
calculated @ 0.00%
Year Age Risk Cover Annual Tax Saved Nett. Returns From *Surrender *Total Loan
Premium Premium LIC Value Available
Normal Accident With GST
1 0 21,922 21,922 22,908 0 22,908 0 0 0
2 1 43,844 43,844 22,415 0 22,415 0 0 0
3 2 6,92,500 6,92,500 22,415 0 22,415 0 23,018 20,716
4 3 7,15,000 7,15,000 22,415 0 22,415 0 57,722 48,827
5 4 7,37,500 7,37,500 22,415 0 22,415 0 72,299 61,920
6 5 7,60,000 7,60,000 22,415 0 22,415 0 86,988 75,106
7 6 7,82,500 7,82,500 22,415 0 22,415 0 1,01,817 88,409
8 7 8,05,000 8,05,000 22,415 0 22,415 0 1,19,971 1,04,689
9 8 8,27,500 8,27,500 22,415 0 22,415 0 1,39,188 1,21,912
10 9 8,50,000 8,50,000 22,415 0 22,415 0 1,59,524 1,40,123
11 10 8,72,500 8,72,500 22,415 0 22,415 0 1,81,106 1,59,436
12 11 8,95,000 8,95,000 22,415 0 22,415 0 2,02,200 1,78,420
13 12 9,17,500 9,17,500 22,415 0 22,415 0 2,35,268 2,04,026
14 13 9,40,000 9,40,000 22,415 0 22,415 0 2,72,517 2,36,966
15 14 9,72,500 9,72,500 22,415 0 22,415 0 3,14,141 2,73,799
16 15 9,97,500 9,97,500 22,415 0 22,415 0 3,60,468 3,14,816
17 16 10,22,500 10,22,500 22,415 0 22,415 0 4,05,769 3,55,016
18 17 10,47,500 10,47,500 22,415 0 22,415 0 4,56,570 4,00,100
19 18 10,77,500 10,77,500 22,415 0 22,415 0 5,13,974 4,51,044
20 19 11,10,000 11,10,000 22,415 0 22,415 0 5,79,025 5,08,780
21 20 11,47,500 11,47,500 0 0 0 75,000 5,61,890 4,92,440
22 21 11,95,000 11,95,000 0 0 0 75,000 5,58,340 4,88,091
23 22 12,67,500 12,67,500 0 0 0 75,000 5,62,647 4,90,707
24 23 13,40,000 13,40,000 0 0 0 75,000 5,76,096 5,01,428
25 24 14,12,500 14,12,500 0 0 0 75,000 8,37,155 7,53,440
26 25 0 0 0 0 0 9,12,500 0
Total 4,48,793 0 4,48,793 12,87,500
Premium includes G.S.T. 1st Year G.S.T. is 4.5% & thereafter 2.25%
*Liable to change as per government policy. This benefit illustration is for illustration purpose only, subject to payment of stipulated
premiums on the due dates. The objective of the illustration is that the client is able to appreciate the features of the product and the
flow of benefits in different circumstances with some level of quantification.
*Surrender / Loan Value are calculated at the end of the policy year.

Prerana Induction Training - Children Plans / 71