Jeevan Tarun Plan 934
Jeevan Tarun Plan 934: LIC of India new plan launched on 1st. February 2020 which name is LIC Jeevan Tarun 934 (Table No 934). This is a market risk free, limited premium payment, money back plan. Market risk – it means that this plan is not related with the share market, your investment is fully safe. You can now buy online LIC Jeevan Tarun plan 934 children plan through credit card/debit card, net banking, upi and wallets on our LIC’s New Business Platform.
Every Indian parent dreams of giving their children the best in life – whether it’s quality education, marriage support, or financial security. However, rising costs of education, healthcare, and lifestyle make it crucial to plan finances smartly from the beginning.
To address this, Life Insurance Corporation of India (LIC) designed a child-specific insurance-cum-savings plan called LIC Jeevan Tarun Plan 934.
This plan is tailor-made to secure your child’s future education, higher studies, marriage expenses, and financial independence, even if the parent is not around.
In short, it is a flexible child plan that combines protection + savings + options for regular payouts during crucial years (18–25 years).
Key Features of LIC Jeevan Tarun Plan 934
- Type of Plan: Non-linked, Participating, Individual, Life Insurance Savings Plan (Child Plan).
- Entry Age of Child: 90 days – 12 years.
- Policy Term: 25 years – Age at entry of child.
- Example: If child enters at 10 years, policy term = 15 years.
- Premium Paying Term (PPT): 10 – 20 years.
- Minimum Basic Sum Assured: ₹75,000.
- Maximum Basic Sum Assured: No Limit (in multiples of ₹5,000).
- Survival Benefits: Choice-based between 18–25 years of child.
- Maturity Benefit: Balance sum assured + bonuses.
- Death Benefit: Sum Assured + Bonus (on parent’s death before maturity).
- Rider Options: Premium Waiver Rider (highly recommended).
Eligibility Table
| Criteria | Minimum | Maximum |
|---|---|---|
| Entry Age of Child | 90 days | 12 years |
| Premium Paying Term (PPT) | 10 years | 20 years |
| Policy Term | 25 years – age at entry | – |
| Sum Assured | ₹75,000 | No Limit |
| Maturity Age of Child | 25 years | 25 years |
Benefits of LIC Jeevan Tarun Plan 934
1. Death Benefit (Before Maturity)
If the parent (life assured) dies during the policy term:
- Sum Assured on Death = Higher of (10 × annual premium) or 125% of Basic SA.
- Plus bonuses.
- Premium Waiver Rider ensures future premiums are waived, but child continues to get maturity/benefits.
2. Survival Benefits (Child’s Age 18–25)
Parents can choose one of four options:
- Option 1: No survival benefit, full payment at maturity.
- Option 2: 5% of SA every year from 20–24 years, balance at 25.
- Option 3: 10% of SA every year from 18–21 years, balance at 25.
- Option 4: 5% of SA every year from 18–24 years, balance at 25.
👉 This flexibility makes it ideal for funding college, professional courses, or marriage needs.
3. Maturity Benefit (At 25 years of child)
Balance of Sum Assured + Bonuses + Final Additions.
4. Loan Facility
Loan available after 2 years of premium payment.
5. Tax Benefits
- Premiums eligible for 80C deduction.
- Maturity/Death benefits exempt under 10(10D).
Example with Tabular Illustration
Let’s assume:
- Child Age: 5 years
- Parent’s Age: 30 years
- Policy Term: 20 years (till child turns 25)
- Sum Assured: ₹10,00,000
- Premium Paying Term: 15 years
Scenario – Option 3 (10% SA payout from 18–21 years)
| Child’s Age | Benefit | Amount |
|---|---|---|
| 18 years | 10% of SA | ₹1,00,000 |
| 19 years | 10% of SA | ₹1,00,000 |
| 20 years | 10% of SA | ₹1,00,000 |
| 21 years | 10% of SA | ₹1,00,000 |
| 25 years | Balance SA + Bonus | ₹6,00,000 + Additions |
Total Benefit: Around ₹12–14 Lakhs (with bonuses).
Premium Chart (Illustrative)
For Child Age 5 years, Sum Assured ₹10 Lakh, Policy Term 20 years, PPT 15 years.
| Mode | Approx. Premium (₹) |
|---|---|
| Yearly | 45,000 – 48,000 |
| Half-Yearly | 23,000 – 24,000 |
| Quarterly | 11,800 – 12,300 |
| Monthly (NACH) | 3,900 – 4,100 |
Analyst Opinions
Strengths
- Child-Focused Plan: Built to meet education & marriage needs.
- Flexible Survival Benefits: Parents choose payout structure.
- Participating Policy: Eligible for bonuses → wealth grows.
- Premium Waiver Rider: Ensures continuity even after parent’s death.
Weaknesses
- Returns are moderate (5–7%).
- No survival benefit if parent selects Option 1.
- Premiums slightly higher due to flexibility.
Expert Verdict:
LIC Jeevan Tarun 934 is ideal for parents who want guaranteed funds during child’s crucial years with complete protection cover.
Investor Scenarios
Scenario 1 – Parent Planning for Higher Education
Mr. Raj, 32, buys SA ₹15 Lakh for 3-year-old son.
- Option 4 chosen → Regular payouts from 18–24 years for education fees.
- Balance maturity ensures corpus for marriage.
Scenario 2 – Single Mother Securing Child’s Future
Mrs. Neha, 29, invests SA ₹10 Lakh with Premium Waiver Rider.
- Even if she is not around, child gets payouts for college + full maturity.
Scenario 3 – NRI Parent
Mr. Kumar, NRI in Dubai, takes Jeevan Tarun for daughter.
- Ensures Indian tax-free maturity benefits.
- Regular payouts support daughter’s MBBS fees.
Real Investor Insights
- Pooja, 30 (Bangalore):
“Jeevan Tarun gives me confidence that my son’s education funds are secure, no matter what.” - Amit, 34 (Delhi):
“The flexibility of choosing payouts makes it stand out. Perfect for school-to-college transition expenses.” - Ramesh, 40 (Mumbai):
“I liked that maturity benefit is guaranteed at 25 years, giving a strong financial base to my daughter.”
Analyst Insights – Why It’s Different
- Unlike endowment plans, Jeevan Tarun is tailored for children’s needs.
- Flexible survival options → Parents control payouts.
- Premium Waiver ensures goal achievement even in worst-case scenario.
FAQs – LIC Jeevan Tarun Plan 934
Q1. What is the minimum entry age for a child?
👉 90 days.
Q2. At what age do payouts start?
👉 At age 18 (based on chosen option).
Q3. Is Premium Waiver Rider important?
👉 Yes, it ensures plan continues even if parent dies.
Q4. What happens if no survival option chosen?
👉 Entire benefit is paid at maturity (child’s age 25).
Q5. Is it tax-free?
👉 Yes, under 80C and 10(10D).
Q6. Can NRIs buy Jeevan Tarun?
👉 Yes, NRIs are eligible.
Final Thoughts – Should You Buy LIC Jeevan Tarun 934?
LIC Jeevan Tarun Plan 934 is one of the best child insurance plans in India.
✔ Ensures funds during higher education years (18–25 years).
✔ Provides lump sum at 25 years for marriage/settlement.
✔ Secures child’s future with death cover + premium waiver option.
✔ Offers tax savings + LIC reliability.
However, if your goal is high-risk growth, mutual funds or child ULIPs may offer higher returns.
In short:
👉 If you’re a parent who values security, flexibility, and guaranteed child planning, LIC Jeevan Tarun 934 is a perfect blend of insurance + savings + future planning.
It’s not just an insurance policy – it’s a financial gift of love for your child’s future.
