LIC’s JEEVAN TARUN is a life assurance savings plan designed for children, offering a valuable blend of protection and savings features. This plan is specifically crafted to cater to the educational and other financial needs of growing children. It provides annual Survival Benefit payments from ages 20 to 24 years, and a Maturity Benefit at the age of 25 years.


Death Benefit

If the policyholder passes away during the active policy term with all premiums paid:

  1. Before the risk commencement date, a premium refund (excluding taxes, extra premiums, and rider premiums) will be paid.
  2. After the risk commencement date, the Death Benefit is paid, which includes ‘Sum Assured on Death,’ plus bonuses, with a minimum of 105% of total premiums paid. Premiums do not include taxes or extra/rider premiums.

Survival Benefit

A portion of the Sum Assured is paid on each policy anniversary coinciding with or immediately following the policyholder’s 20th birthday and for the next four anniversaries. The exact percentage depends on the chosen option: • Option 1: No Survival Benefit during ages 20 to 24. • Option 2: 5% of the Sum Assured each year. • Option 3: 10% of the Sum Assured each year. • Option 4: 15% of the Sum Assured each year. The policyholder selects one of these options at the proposal stage.

Maturity Benefit

If the policyholder survives the policy term, and the policy is active, the ‘Sum Assured on Maturity’ is paid, along with vested Simple Reversionary Bonuses and a Final Additional Bonus, if applicable. The ‘Sum Assured on Maturity’ is a fixed percentage of the Sum Assured, depending on the chosen option for maturity at Age 25:
• Option 1: 100% of the Sum Assured
• Option 2: 75% of the Sum Assured
• Option 3: 50% of the Sum Assured
• Option 4: 25% of the Sum Assured

Participation in Profits

The policy will share in the Corporation’s profits and is eligible to receive Simple Reversionary Bonuses, which are determined based on the Corporation’s experience, as long as the policy is in-force.

A Final Additional Bonus may also be granted under the policy in the year when the policy results in a claim, either due to death or maturity. Please note that Final Additional Bonus is not applicable to paid-up policies.

The distribution of the surplus identified through actuarial investigation to policyholders will be in accordance with the approvals of the Central Government, as outlined in the provisions of the LIC Act, 1956.

Eligibility Conditions

a) Minimum Sum Assured Rs 75,000
b) Maximum Sum Assured No Limit
(The Sum Assured shall be in multiples of Rs 5,000 from Sum Assured Rs 75,000 to Rs 100,000 and Rs 10,000/- for Sum Assured above Rs 100,000)
c) Minimum Age at entry [90] days (last birthday)
d) Maximum Age at entry [12] years (last birthday)
e) Minimum/ Maximum Maturity Age [25] years (last birthday)
f) Policy Term [25 – Age at entry] years
g) Premium Paying Term (PPT) [20 – Age at entry] years

Payment Options Available

Mode of Instalment payment Minimum instalment amount
Monthly Rs 5,000/-
Quarterly Rs 15,000/-
Half-Yearly Rs 25,000/-
Yearly Rs 50,000/-


The policy will become void under the following circumstances:

  1. If the Life Assured (whether sane or insane) commits suicide within 12 months from the date of risk commencement, the Corporation will not entertain any claims under the policy, except for a refund of 80% of the total premiums paid, provided the policy is in-force. This clause does not apply if the Life Assured’s age at entry is below 8 years.
  2. If the Life Assured (whether sane or insane) commits suicide within 12 months from the date of revival, an amount will be payable, which is the higher of 80% of the total premiums paid until the date of death or the surrender value available at the time of death. In such cases, the Corporation will not entertain any other claims under the policy. This clause is not applicable:

a) if the age of the Life Assured is below 8 years at the time of revival; or b) for a policy that has lapsed without acquiring a paid-up value, and no benefits shall be payable under such policies.

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