Life Insurance Corporation of India (LIC) has launched Jeevan Tarun Policy which is a non-linked money back plan for children. The plan caters to financial needs such as for education, marriage etc.
In LIC Jeevan Tarun, a percentage of the sum assured will be payable upfront and the rest will be for the next 5 years as yearly instalment. It also provides for the risk cover on the life of child during the policy term. The policy can be purchased by parent or grandparent for a child aged 0 to 12 years.
Benefits of Jeevan Tarun Plan, at a glance:
Participating (with-bonus) plan.
100% sum assured at Maturity.
Offers cover on the life of child during the policy term
Tax Benefits under section 80C on premiums,
Tax Benefits under section 10(10D) on maturity and death proceeds.
LIC is an Indian state-owned insurance group and investment company based out of Mumbai, it is the largest insurance company in India.
