LIC Jeevan Tarun: Pay child's MBA, engineering fee in future with Rs 150 PD

LIC Jeevan Tarun: The Life Insurance Corporation of India has a scheme for all the sections of the society. Take LIC Jeevan Tarun for instance. The scheme is for young parents. Jeevan Tarun Policy is a non-linked, participating, life assurance savings plan. 

LIC Jeevan Tarun provides safety and savings both. Young parents can buy this policy to take care of their child's educational and other needs.

Eligibility for Jeevan Tarun is that the child should be at least 90 days old and not more than 12 years old.

When the child becomes 25 years of age, he/she will get the full benefits of this policy. The premium has to be paid for 20 years. Minimum sum assured is Rs 75000. There is no maximum limit.

If you save Rs 150 per day, you will pay an annual premium of Rs 54000. In eight years, your total investment will be Rs 4.32 lakhs. You will get a bonus of Rs 2.47 lakh. Your sum assured will be 5 lakhs. Rs 97000 will be the loyalty bonus. In total, you will get around Rs 8,44,500.
This money can be used for your child's marriage, or to pay for her college fee.

Premiums can be paid annually, half-yearly, quarterly or monthly.