Although there are many other sorts of investment alternatives accessible in India today, a sizable portion of the populace still favors investing in Post Office Schemes, Life Insurance Corporations (LIC Policy), etc. The largest and oldest insurance provider in the nation, LIC has millions of customers nationwide.
LIC offers a wide variety of programs for every region of the nation.
A few programs have been created exclusively for kids (LIC Policy for Kids). Today, we’ll discuss a LIC policy you may buy to relieve the stress associated with your kids’ schooling. This program is known as the LIC Jeevan Tarun Policy. Be aware of the potential return on your investment in this plan.
Jeevan Tarun LIC Policy –Â What should the child’s age be?
The age of the child must be at least three months old and at most twelve years old in order to invest in the LIC Jeevan Tarun insurance. The complete investment is done under this program till the youngster is 20 years old. After that, there are five years without any investments of any type. The child may claim the total sum of money once he becomes 25. With this, the stress about the child’s college costs and wedding costs is resolved.
What is the guaranteed minimum amount?
You will undoubtedly get profit from this policy’s Sum Assured of at least Rs. 75,000 if you invest in it. However, no upper limit has been established for the total amount. You can deposit premiums under this plan on a monthly, half-yearly, quarterly, or annual basis. It should be mentioned that the Jeevan Tarun LIC policy is a limited payment plan that participates.
What amount will be paid upon maturity of the LIC Policy?
The annual premium will be close to Rs 54,000 if a person purchases this coverage for a child at the age of 12 and makes a little payment of Rs 150 each day. In this situation, Rupees 4.32 lakh will be deposited over the course of 8 years. 2.47 lakh Rs will be awarded as a bonus. At the age of 25, the youngster in this circumstance will become the owner of roughly seven lakh rupees.
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