LIC Jeevan Tarun: Secure Rs 7 lakh for your child's future

Looking for a way to invest in your child's future? The LIC Jeevan Tarun policy is an excellent choice. Today, there are many types of investment alternatives in India. However, a significant portion of the population still prefers to invest in post office schemes, life insurance companies, etc.

LIC, the largest and oldest insurance company, has millions of customers across the country. LIC offers various schemes for every part of the country. Many schemes are designed exclusively for children (LIC Policy for Children). This scheme is called the LIC Jeevan Tarun Policy. The LIC Jeevan Tarun plan is a participating, non-linked, limited premium payment plan.

This LIC money-back plan offers attractive protection and savings benefits for children. The LIC Jeevan Tarun plan was created to take care of the increasing financial and educational needs of children. To invest in LIC Jeevan Tarun insurance, the child's age must be at least three months and a maximum of twelve years.

Full investment is made under this scheme up to the age of 20 for the youth. After that, there are five years without any kind of investment. The total money can be claimed once the child turns 25. The minimum investment from the sum assured of this policy is Rs. 75,000. However, no upper limit has been set for the total amount.

Under this scheme, you can deposit premiums monthly, quarterly, half-yearly, or annually. If a person buys this coverage for a 12-year-old child and pays a small amount of Rs.150 every day, the annual premium will be close to Rs.54,000. In this situation, Rs.4.32 lakh will be deposited in 8 years. For this, a bonus of Rs.2.47 lakh will be given. By the age of 25, approximately Rs.7 lakh will be available.