LIC Jeevan Tarun Premium & Returns Calculator
Plan your child's future education, wedding, and milestone finances with the definitive LIC Plan 934 calculator. Calculate exact premiums, survival benefit options (1-4), accumulated reversionary bonuses, and PWB rider coverage.
Enable PWB RiderHighly Recommended
If parent passes away, future premiums are waived & policy stays intact.
Child Wealth Multiplier
Returns estimated at 2.67 times the total premium paid.
LIC Jeevan Tarun (Plan 934): Child Education & Marriage Planner
The LIC Jeevan Tarun (Plan 934)is an elite, participating, non-linked individual life assurance plan specifically crafted for children aged 90 days to 12 years. By offering a perfect blend of high-value protection and customizable liquidity, this plan serves as a robust engine for securing your child's higher education, professional training, or marriage milestones. Rather than locked-in cash flows, the plan offers parents four distinct survival benefit options to choose how payouts should be structured, concluding with a tax-exempt lump sum maturity at child age 25.
The Four Payout Options
- Option 1 (No Annual Payouts): 100% of the Basic Sum Assured is paid at maturity (Age 25) with accrued bonuses. Best for maximizing the marriage corpus.
- Option 2 (5% Annual SB): Receive 5% of the Sum Assured annually at child ages 20–24, and 75% of Sum Assured at maturity. Great for minor expenses.
- Option 3 (10% Annual SB): Receive 10% of the Sum Assured annually at child ages 20–24, and 50% at maturity. Ideal for undergraduate course fees.
- Option 4 (15% Annual SB): Receive 15% of the Sum Assured annually at child ages 20–24, and 25% at maturity. Delivers maximum cashflow during student years.
Dual Tax Shelter Status
- Section 80C Deduction: Premium contributions up to ₹1.5 Lakhs qualify for tax deductions every year during the premium paying term, significantly lowering your net outlays.
- Section 10(10D) Exemption: All annual survival benefits and maturity proceed lump sums are 100% tax-free under Section 10(10D) for policies where the annual premium is less than 10% of the Sum Assured.
- Nominee Death Benefit Coverage: If the parent passes away during PPT, all future premiums are waived immediately under PWB, and the final returns are paid out tax-exempt to the child.
Eligibility Grid
| Parameter | Limits / Rules |
|---|---|
| Minimum Sum Assured | ₹75,000 (No upper limit) |
| Minimum Age of Child at Entry | 90 Days (Completed) |
| Maximum Age of Child at Entry | 12 Years |
| Policy Term (PT) | Fixed at (25 - Child Entry Age) Years |
| Premium Paying Term (PPT) | Fixed at (20 - Child Entry Age) Years |
Key Features & Accruals
Jeevan Tarun stands apart by allowing the simple reversionary bonus (participating profit) to continue to accrue during the 5-year gap term (ages 20 to 24) when no premiums are being paid. This guarantees that your child's savings grow continuously.
PWB Rider Protection
By purchasing the Premium Waiver Benefit Rider, parents guarantee their children's dreams. If the parent passes away during the PPT, LIC completely waives all remaining premium obligations. All survival and maturity proceeds are paid exactly as originally illustrated.
Jeevan Tarun (Plan 934) FAQs
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"Excellent calculator! It helped me understand the premium structure before meeting with an LIC agent. The estimates were quite close to the actual premium I was quoted. Very user-friendly interface."
"I used this calculator to compare different policy types. The breakdown helped me choose the right endowment plan for my family. Saved me a lot of time and confusion. Highly recommended!"
"Good tool for getting a quick estimate. The calculator is easy to use and provides clear results. However, I noticed the actual premium was slightly higher due to my medical history, which is expected."
"This calculator made my insurance planning so much easier! I could test different scenarios and find the best policy that fits my budget. The maturity amount calculation was particularly helpful."
"As a first-time insurance buyer, this tool was invaluable. It helped me understand how premiums work and what to expect. The FAQs section also answered many of my questions. Great resource!"
"Very helpful calculator! I appreciated being able to compare different policy types side by side. The interface is clean and professional. Would love to see more policy options added in the future."
"Used this calculator before purchasing my LIC policy. The premium estimate was accurate, and it helped me plan my finances better. The design is modern and the tool is very intuitive to use."
"Excellent tool! I calculated premiums for multiple scenarios and found the perfect policy for my needs. The maturity amount projection helped me plan for my retirement. Thank you for this resource!"
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