LIC Jeevan Tarun Calculator

LIC Jeevan Tarun is a popular child savings plan from Life Insurance Corporation of India (LIC). It helps parents save for their child’s future needs, like education, while providing life cover.

What is LIC Jeevan Tarun?

LIC Jeevan Tarun is a non-linked, participating money-back plan designed for children. Parents or grandparents buy it for kids aged 90 days to 12 years. The plan runs until the child turns 25, with premiums paid for a shorter period based on the child’s entry age.

It combines savings, money-back payouts at key ages, maturity benefits, and bonuses. This makes it useful for funding college fees or other milestones. The plan is safe, as it does not link to the stock market.

Evolution of Jeevan Tarun Policies

LIC launched the original Jeevan Tarun as Plan 834 around 2017. It focused on flexible money-back options for children.

Plan 934 came next on February 1, 2020. It kept similar features but added minor tweaks like high sum assured rebates.

The newest version, Plan 734, launched on November 18, 2024. It includes updates like higher death benefits (125% of the sum assured or 7 times the annual premium) and an optional premium waiver rider. No specific withdrawal or discontinuation dates are noted for these plans as of January 2026; they remain active.

Detailed Features of Plan 834

Plan 834 is a limited premium money-back policy. Key details include

• Entry Age: 90 days to 12 years (last birthday).
• Maturity Age: 25 years.
• Policy Term: 25 minus entry age.
• Premium Paying Term (PPT): 20 minus entry age.

The minimum sum assured is Rs. 75,000, with no upper limit (multiples of Rs. 10,000). Premium modes are yearly, half-yearly, quarterly, or monthly. Mode rebates apply: 2% for yearly, 1% for half-yearly.

Death Benefit: The higher of 10 times the annualized premium or 105% of premiums paid, plus bonuses. Before the risk starts (for kids under 8), premiums are refunded, excluding taxes.​

Survival Benefits: Choose from four options at entry:

• Option 1: No payouts till maturity (100% sum assured).
• Option 2: 5% yearly from age 20-24 (75% maturity).
• Option 3: 10% yearly from age 20-24 (50% maturity).
• Option 4: 15% yearly from age 20-24 (25% maturity).

Maturity at age 25 includes the remaining sum assured plus vested bonuses and the final additional bonus (FAB). Loans are available after 3 years’ premiums; surrender after 3 years.

Detailed Features of Plan 934

Plan 934 mirrors 834 but with refined rebates. Launch date: February 1, 2020.

• Sum Assured: Rs. 75,000+ (multiples of Rs. 10,000).
• PPT: 20 minus entry age.
• High Sum Rebates: Rs. 2 per thousand for Rs. 2-4.9 lakh; Rs. 3 for Rs. 5 lakh+.

Benefits match 834: survival options, death cover at 105% premiums minimum, and bonuses. Risk starts after 2 years for under-8s. Revival within 2 years of lapse. The premium waiver rider is optional.​

Detailed Features of Plan 734 (Newest)

Launched November 18, 2024, Plan 734 offers enhanced protection.

• Entry Age: 90 days (or 30 days in some calculators) to 12 years.
• Minimum Sum Assured: Rs. 75,000 (some sources say Rs. 2 lakh min); no max.
• Policy Term: 25 minus entry age.
• PPT: 20 minus entry age.

Death Benefit (post-risk): The higher of 7x annual premium, 125% basic sum assured, or 105% premiums paid + bonuses/FAB. Pre-risk: premium refund ex-taxes.

Survival Benefits: Same four options as before, paid from age 20 onwards for 5 years.

Maturity: Remaining sum assured + bonuses + FAB at age 25.

Rebates: 2% yearly mode, 1% half-yearly. High sum: Rs. 2.5/thousand for Rs. 5-10 lakh; Rs. 4 for Rs. 10 lakh+.

Rider: Premium Waiver Benefit (PWB)—waives future premiums if the proposer dies (entry up to 70 minus PPT).

Loan after 3 years; grace period 30/15 days.

Premium Examples Table

Here is a sample annual premium table for Rs. 100,000 sum assured under Plan 734 (excluding taxes/rebates).

How to Use LIC Jeevan Tarun Calculator

An online calculator helps estimate premiums, maturity, and payouts. Enter the child’s age, sum assured, option, and age of proposer for the rider.

Steps:

1. Visit LIC site or tools like liccalculator.info
2. Input details: age (e.g., 5 years), sum assured (e.g., Rs. 2 lakh), survival option.
3. View yearly premium (e.g., Rs. 9,200), total paid (Rs. 184,000 over PPT), survival (Rs. 20,000 x 5), and maturity (Rs. 1 lakh + bonuses).

It shows illustrations at 4-8% bonus rates. Use for planning: total returns often exceed premiums by 50-100% with bonuses.

Official Calculator: Check the LIC India website or branches for the latest tool.

Benefits and Why Choose It

This plan gives regular income from age 20 to 24, a lump sum at 25, life cover, and tax savings under 80C/10(10D). Bonuses boost returns; flexible options suit needs.

For a Rs. 2 lakh policy (child age 6, Option 3): Pay Rs. 9,200/year for 14 years. Get Rs. 20,000 x 5 (ages 20-24), Rs. 1 lakh maturity + bonuses (total ~Rs. 3-4 lakh).

Safe for Indian families; no market risk. Ideal for education funding in cities like Ludhiana.

Other Important Details

• Free Look: 15 days to cancel.
• Surrender: After 3 years, value = paid-up sum + bonuses.
• Taxes: Premiums deductible u/s 80C; maturity tax-free u/s 10(10D).
• Settlement Option: Payouts in 5/10/15-year installments.

FAQs

Conclusion

LIC Jeevan Tarun (especially the new 734) secures your child’s future with timed payouts, strong cover, and growth via bonuses. Use the calculator to plan today for a worry-free tomorrow. Consult an LIC agent for personalized quotes.