There are many other sorts of investment alternatives available in India today, but a sizable portion of the populace still favours investing in Post Office Schemes, Life Insurance Corporations, etc. LIC's largest and oldest insurance provider in the nation has millions of customers nationwide.
LIC offers a wide variety of programmes for every region of the nation. Several programmes are designed just for kids (LIC Policy for Children). Let's discuss a policy you may buy to relieve the stress associated with your kids' schooling. This programme is known as the LIC Jeevan Tarun Policy.
LIC Jeevan Tarun Policy: About
LIC Jeevan Tarun Plan is a participating non-linked limited premium payment plan. This LIC money-back plan gives kids an appealing mix of safety and savings benefits. The LIC Jeevan Tarun Plan was created specifically for kids to take care of their rising financial and educational needs.
LIC Jeevan Tarun: Eligibility and when you can claim the money
The age of child must be at least three months old and at most twelve years old in order to invest in the LIC Jeevan Tarun insurance. The complete investment is made under this programme till the youngster is 20 years old. After that, there are five years without any investments of any type. The child may claim the total sum of money once he becomes 25. With this, the stress about the child's college and wedding costs is resolved.
What is the guaranteed minimum sum?
You will undoubtedly profit from this policy's Sum Assured of at least Rs. 75,000 if you invest in it. However, no upper limit has been established for the total amount. You can deposit premiums under this plan on a monthly, quarterly, half-yearly, or annual basis.
What amount will be paid upon maturity?
The annual premium will be close to Rs 54,000 if a person purchases this coverage for a child at the age of 12 and makes a small payment of Rs 150 each day. In this scenario, Rs 4.32 lakh will be deposited over the course of 8 years. 2.47 lakh rupees will be awarded as a bonus for this. By 25, the youngster in this scenario will become the owner of roughly 7 lakh rupees.
