Jeevan Tarun Plan is non-linked, with-profits, Limited premium payment plan specially designed to meet the educational and other needs of growing children.

 

Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly(ECS)

 

Term : 25 Age at Maturity Time [25-Age at entry]Years

 

PPT : [20-Age at entry]Years

 

Minimum Entry Age : 0 Year Last Birthday

 

Maximum Entry Age : 12 Year Last Birthday

 

Minimum Sum Assured : Rs. 75,000

 

Maximum Sum Assured : NO LIMIT (Depending upon Income)

 

Policy Benefits :

On Death :

• On death Before the Date of Commencement of Risk: An amount equal to the total amount of premiums paid excluding taxes, extra premium and rider premium, if any shall be payable.

• On death After the Date of Commencement of Risk: Death Benefit, defined as sum of Sum Assured on Death and vested Simple Revisionary Bonuses and Final Additional Bonus, if any, shall be payable.

• Where Sum Assured on Death is defined as higher of 7 times of annualized premium or Absolute amount assured to be paid on death i.e. 125% of Sum Assured

• This death benefit shall not be less than 105% of the total premiums paid as on date of death.

 

On Survival: Option is chosen at proposal stage.

Option-1: No Survival,Maturity Benefit 100% S.A.

Option-2: 5% S.A. every year For 5 Years from age 20 to 24,Maturity Benefit 75% S.A.

Option-3: 10% S.A. every year For 5 Years from age 20 to 24,Maturity Benefit 50% S.A.

Option-4: 15% S.A. every year For 5 Years from age 20 to 24,Maturity Benefit 25% S.A.

 

Surrendered Value :

The policy can be surrendered at any time during the policy term provided premiums have been paid for full two years.

 

Loan : Loan facility is available under this plan after the payment of premiums for at least two full years.

 

Income Tax Benefit :

• Premium paid under this plan is eligible for TAX rebate under section 80c.

• Maturity under this plan is free under sec 10(10D).

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For more information Contact Us.