jeevan tarun presentation plan no 834
TRANSCRIPT
• Non-linked, with profit, limited premium payment plan.
• Premium Payment upto age of 20 and maturity at the age of 25 of child.
• Designed to meet educational and other needs of children.
• Flexible plan- Option at proposal stage to make plan as Endowment or Money Back
Survival Benefit in Jeevan Tarun Plan is paid in last five year of policy term ie at the age of 20, 21, 22, 23 and 24 of child age. And there are four option of Survival benefits to choose from as per child’s need
– Option I - No Survival Benefits– Option II - 5% of SA every year for Five
years – Option III - 10% of SA every year for Five
years – Option IV - 15% of SA every year for Five
years
Maturity Benefit in Jeevan Tarun Plan is paid in 25th year of child age. Maturity Benefit is different as per the option chosen for survival benefit at proposal stage.
– Option I - 100% SA + Bonus– Option II - 75% of SA + Bonus– Option III - 50% of SA + Bonus– Option IV - 25% of SA + Bonus
Before commencement of risk- Death Before completion 2 years form policy date or child attain the age of 8 year of Refund of total premium (excluding taxes, extra premium and rider premium if any)
After the commencement of risk- Death After completion 2 years form policy date or child attain the age of 8 year (which ever is earlier) 125% of Sum Assured with reversionary bonus and final additional bonus (if any)
Minimum age at entry: 00 year (91 days) Maximum age at entry: 12 years (Last birthday) Policy term:25-age at entry Premium Term: 20- Age at entry Age at maturity: 25 years Minimum Sum Assured:Rs. 75000 Maximum Sum Assured: No limit (in
multiple of 10000) Mode of premium payment: Yearly, Half Yearly,
Quarterly and Monthly( ESC and SSS only)
If Premium waiver benefit rider is opted, then in case of unfortunate death of proposer, all the future premium will be waived and child will get all the benefits of the policy as it is.
Eligibility criteriaMinimum age at entry: 18 year (LBD)Maximum age at entry: 55 years (NBD)Policy term: 20-age at entry of childCover ceasing age: 70 years
Loan facility after 2 year (If premium paying term less than 10 years) and after 3 year (if premium paying term is more than 10 years)
Income tax rebate under section 80(C) on premium paid.
Premium payment is 5 years less than the policy term.
Maturity proceeds are tax free. Convenient of choosing money back option as
per need of child.
