LIC New Plan Jeevan Tarun 834: Are you looking for the best child plan to secure your kids future? You might have already came LIC Jeevan Tarun policy from your friends or lic agents or while searching online for children’s insurance plan India. As a father, I have been already approached to buy JEEVAN TARUN plan for my kid.

But is LIC Jeevan Tarun the best insurance policy for your kid? I am going to explore my understanding here in this article by explaining various topic of this policy here.E.g. lic jeevan tarun calculator, lic premium calculator, lic jeevan tarun review, lic jeevan tarun 834 benefits, maturity benefits, survival benefits, return on investment etc.

Why To Buy An Insurance Plan for Your Child?

Before proceeding with my explanation on this policy, I just want to ask all parents do you know the meaning of insurance? Why are you interested to buy an insurance product for your kid? This kind of child plans are mainly securing the life of your child. That means in case of unfortunate death of your kid, you will get the money benefit. Do you really need this?

If you are thinking about securing your kid’s future by saving money for education or marriage or any other aspiration, then invest money in other products where you will get high return. And buy a term plan for yourself, so that in case of your death your child’s future or dream is not going to change in anyway.

I don’t know after reading till this, you are still ready to read the review of LIC Jeevan Tarun plan or not. But as usual, I have to share everything about this policy to let you know about this.

Key Features of LIC Jeevan Tarun Child Plan 834

I am just writing the features of this policy with eligibility criteria after reading the lic Jeevan tarun brochure. First of all this is a typical LIC money back plan where Maturity Benefit is Payable at the age of 25 years only and Survival benefits are payable for the last five years only. As a policy holder you have to choose the option out of 4 available.

Option Name Survival Benefits Maturity Benefits
Option 1 No Survival Benefit 100% of Sum Assured
Option 2 5% of Sum Assured every year for 5 years 75% of Sum Assured
Option 3 10% of Sum Assured every year for 5 years 50% of Sum Assured
Option 4 15% of Sum Assured every year for 5 years 25% of Sum Assured

Key Highlights of Jeevan Tarun Plan

  • As this is a child plan form LIC of India, the min age to entry is 90 days and the max age is 12 years. And again I am making it clear that your kids life will be insured under this policy and you should think 10 times why you need it.
  • A proposer may be parents or legal guardian can have the age range of 18 years to 55 years.
  • The policy can be continue till the age of 25 years of your kid. That means in case you kids is now 15 years old and you want to buy Jeevan tarun, then the policy term will be of 10 years only. All the maturity benefit of this policy will be paid after completing 25 years only.
  • Premium paying term is similar to the policy term only. But the max premium paying could be possible is 20 years.
  • The min amount you want to buy this policy for your kid is Rs 75,000 and there is no upper limit as usual.
  • LIC Jeevan tarun is coming with an additional rider benefit that is premium waiver rider. In case you buy this one, then in case of unfortunate death of the proposer, all the future premiums will be waived off and the policy benefit will continue.

Benefits of LIC Jeevan tarun Plan 834

Death Benefit under this policy can be availed as per below condition.

  • In case of death of the Life Assured before the commencement of risk, return of premium/s paid excluding taxes, extra premium and rider premium, if any, without interest shall be payable.
  • If death of the proposer occurs after the commencement of risk, death benefit amount which includes ‘Sum Assured on death + Accrued Bonuses + Final Additional Bonus‘ will be paid.“Sum Assured on Death” is defined as Higher of 10 times of annualized premium or Absolute amount Assured to be paid on Death i.e. 125% Sum Assured.
  • This Death Benefit shall not be less than 105% of the total premiums paid as on date of death.The premiums mentioned above exclude taxes, extra premium and rider premium, if any.

Survival Benefit: The survival benefit will be paid as per the concept of money back plans. Here is the tabular way to explain the same.

Policy Anniversary coinciding/ following completion of ages

Percentage of Sum Assured to be paid as Survival Benefit

Option 1

Option 2

Option 3

Option 4

20 to 24 years


5% each year

10% each year

15% each year

Maturity Benefit: In case of Life Assured surviving the stipulated date of maturity, a fixed percentage of Sum Assured shall be payable on maturity for in force maturing policies. The fixed percentage under different Options is as below:

Maturity Age

Option 1

Option 2

Option 3

Option 4

25 year





In addition to the above, vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall also be payable.

How To Use Jeevan Tarun Premium Calculator and Calculate Return

Let’s use lic premium calculator for Jeevan Tarun policy and find ot how much premium you need to pay for a sum assured value of rs 5,00,000 ( 5 lakh). Although I don’t know how much benefit I will be doing for my kid to invest only for 5 lakh life cover.

Anyway, what I found using the calculator is Rs 53723 excluding service tax. Can you imagine you have to pay a premium of more than 50k every year to accumulate 5 lakh for your at the age of 25 years. Do you find it worth?

Should I buy Lic Jeevan Tarun Plan from LIC of India

If you are really thinking to secure your kids future by creating a fund or wealth for children’s education, marriage and other future needs then think 10 times before buying a policy like this. Do you think this kind of policy can fight with inflation and get you some return to bear the kids expenditure?

I am not here to demotivate or downgrade LIC of India lovers. But one must think, where we are putting our hard earned money and how much it is giving back after many years of our dedicated investment? Inflation is making it almost constant every year form 6% – 8%. In that case if a financial product give a return of around 4%-5% then your money is not at all capable to stay as it is. Better to keep the amount in your savings account and earn 4% interest on that.

Don’t be in hurry and in the name tax saving, just avoid such investment trap. Buy a pure term insurance plan and then invest enough money on mutual fund for more than 10+ years to get good return. And insurance product can only protect life, don’t expect return from such investment product. In fact you can buy LIC online Term insurance plan with a high life cover even paying far lesser premium only, in case you want to stay with LIC of India.

What do you think about this LIC Jeevan Tarun Policy? Do you think it can manage to bear the future expenses of your kids? I would love to know how do you do the calculation and agreed to buy this plan? Don’t you think you should look for Jeevan Tarun alternatives to grow your money? Write a comment below and share your thoughts on this article.


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