LIC Jeevan Tarun Plan 934 is a popular child insurance plan offered by Life Insurance Corporation of India (LIC). It is designed specifically to provide financial security for your child’s education and future needs.

Introduction to LIC Jeevan Tarun Plan 934

LIC Jeevan Tarun Plan 934 is a non-linked, with-profits endowment plan. It focuses on securing the financial future of your child by combining insurance protection with a savings component. The plan offers life cover along with maturity benefits, making it a comprehensive plan for child welfare.

Parents or guardians can invest in this plan to ensure that funds are available at important milestones in the child’s life, such as higher education or marriage.

Launch and Withdrawal Dates

The Jeevan Tarun Plan 934 was launched by LIC in 01 February 2020 to provide a tailored insurance solution for children’s future needs. The plan was available for purchase for several years but was officially withdrawn from sale on 18 November 2024. Despite withdrawal from new sales, existing policyholders will continue to enjoy the benefits until maturity or claim.

Purpose and Benefits of LIC Jeevan Tarun Plan 934

The primary goal of the Jeevan Tarun Plan is to offer a mix of insurance coverage and savings to help parents plan for their child’s future expenses. Here are the main benefits:

• Life Insurance Cover: Provides financial security to the family in case of the policyholder’s untimely death during the policy term.
• Maturity Benefit: If the policyholder survives the term, the plan pays the sum assured plus bonuses accumulated, helping to meet future costs.
• Bonuses: Being a participating plan, it offers annual bonuses declared by LIC based on its profits, increasing the plan’s maturity value.
• Flexible Policy Term: The term can range from 15 to 21 years, allowing customization based on the child’s age and financial goals.
• Loan Facility: Policyholders can avail loans against the policy after it acquires surrender value.
• Additional Rider Benefits: Riders like Accidental Death and Disability Benefit (Rider 42) can be attached for enhanced protection.

Eligibility Criteria

To buy the LIC Jeevan Tarun Plan 934, you must meet these eligibility requirements:

• Entry Age of Life Assured (Child): Minimum 3 months to maximum 12 years.
• Policyholder’s Age: Usually the parents or guardians should be adults capable of holding the policy.
• Policy Term: Between 15 and 21 years (chosen at inception).
• Minimum Sum Assured: ₹1,00,000.
• Maximum Sum Assured: As per LIC’s underwriting norms.

How LIC Jeevan Tarun Plan 934 Works

The plan works on a simple principle: parents pay regular premiums during the policy term, and the plan ensures a lump sum payout either on maturity or in the event of the policyholder’s death. Here are the key points:

• Premiums are paid yearly, half-yearly, or quarterly as opted.
• On maturity, the child receives the sum assured along with bonuses.
• On death of the life assured during the policy term, the nominee receives the higher of sum assured on death, total premiums paid, or minimum death benefit, along with accrued bonuses.
• If the policyholder opts for rider benefits, the additional coverage is paid for covered events.

LIC Jeevan Tarun Plan 934 Premium Calculation Explained

Calculating the premium for the Jeevan Tarun Plan involves multiple factors such as the child’s age, policy term, sum assured, and frequency of premium payment. This is where the LIC Jeevan Tarun Plan 934 calculator becomes very helpful. It simplifies premium estimation so that parents can plan their finances effectively.

Components Affecting Premiums

• Age of the child: Younger children generally have lower premiums.
• Policy Term: Longer terms imply more premium payments but smaller individual premiums.
• Sum Assured: Higher sum assured means higher premiums.
• Bonus rates: These are variable and declared annually by LIC.
• Rider benefits: Adding riders increases premiums.

Using the LIC Jeevan Tarun Plan 934 Calculator

The calculator requires inputs for:

• Child’s age
• Policy term
• Sum assured
• Premium payment frequency

It then uses LIC’s premium rates and actuarial data to provide:

• Annual premium amount
• Maturity benefit estimate including bonuses
• Death benefit calculation

This tool is valuable for budgeting and comparing the plan against other child plans.

For online calculation tools, verified calculators are available on LIC’s official site and trusted insurance advisory websites.

Example Premium Calculation (Illustrative)

For a child aged 5 with a policy term of 18 years and sum assured of ₹5,00,000, the estimated annual premium might be around ₹25,000. At maturity, assuming average bonus accumulation, the child could receive approximately ₹10 lakh. This example is for illustration; actual results depend on exact policy features and LIC bonus declarations.

Important Features of the Plan

Feature	Details
Plan Type	Non-linked, with-profits endowment
Policy Term	15 to 21 years
Premium Payment	Yearly, half-yearly, quarterly
Minimum Sum Assured	₹1,00,000
Maximum Sum Assured	As per LIC underwriting
Entry Age	3 months to 12 years (child)
Maturity Benefit	Sum assured + accrued bonuses
Death Benefit	Higher of sum assured on death, total premiums paid, or minimum death benefit + bonuses
Loan Facility	Available after policy acquires surrender value
Riders	Accidental Death and Disability Rider (optional)

Why Consider LIC Jeevan Tarun Plan 934?

• Secure Your Child’s Future: Ensures financial support for your child at critical ages like graduation.
• Savings with Protection: Dual benefit of savings plus insurance.
• Trusted LIC Brand: Benefit of LIC’s legacy and regular bonus additions.
• Flexible Terms: Customize according to child’s age and education plans.
• Loan Facility: Manage liquidity if needed without policy surrender.

Points to Keep in Mind

• The plan was withdrawn from new sales effective September 30, 2025. Existing policyholders can continue the benefits.
• Bonus rates are not guaranteed and depend on LIC’s annual experience.
• Premiums must be paid regularly to avoid policy lapsation.
• Riders are optional but provide additional security.
• Review your plan periodically based on changing financial goals.

How to Buy and Use LIC Jeevan Tarun Plan 934 Calculator?

You could buy this plan directly from LIC branches or through their official website when it was available. Nowadays, for existing policyholders or those comparing with similar plans, using the LIC Jeevan Tarun Plan 934 calculator online helps in planning and understanding returns.

A typical LIC Jeevan Tarun Plan 934 calculator available on LIC portals and insurance websites will ask for the child’s age, sum assured, and policy term. Once you enter the details, the calculator shows you the premium amount payable and projections for maturity and death benefits.

Frequently Asked Questions

Conclusion

LIC Jeevan Tarun Plan 934 was designed to be a secure and beneficial investment for your child’s future. Although withdrawn from sale as of September 2025, it remains a trusted plan for existing policyholders. Using the LIC Jeevan Tarun Plan 934 calculator helps in easy premium planning and understanding the potential benefits.