Jeevan Tarun - 934

Plan :  Jeevan Tarun (934) 

Product Summary : Jeevan Tarun Plan is non-linked, with-profits, Limited premium payment plan specially designed to meet the educational and other needs of growing children.

Term : 25 Age at Maturity Time 

Years. PPT : [20-Age at entry]

Minimum Entry Age : 0 Year Last Birthday. 

Maximum Entry Age : 12 Year Last Birthday

Minimum Sum Assured: 75,000. 

Maximum Sum Assured : NO LIMIT (Depending upon Income)

Policy Benefits :

On Survival : Option is chosen at proposal stage. Note: (S.A = Sum Assured)

• Option - 1: No Survival, Maturity Benefit 100% S.A.

• Option - 2: 5% S.A. every year For 5 Years from age 20 to 24, Maturity Benefit 75% S.A.

• Option - 3: 10% S.A. every year For 5 Years from age 20 to 24, Maturity Benefit 50% S.A.

• Option - 4: 15% S.A. every year For 5 Years from age 20 to 24, Maturity Benefit 25% S.A.

Surrendered Value: The policy can be surrendered at any time during the policy term provided premiums have been paid for full two years.

On Death : On death Before the Date of Commencement of Risk:  An amount equal to the total amount of premiums paid excluding taxes, extra premium and rider premium, if any shall be payable.

On death After the Date of Commencement of Risk: Death Benefit, defined as sum of Sum Assured on Death and vested Simple Re-visionary Bonuses and Final Additional Bonus, if any, shall be payable. Where Sum Assured on Death is defined as higher of 7 times of annualized premium or Absolute amount assured to be paid on death i.e. 125% of Sum Assured. This death benefit shall not be less than 105% of the total premiums paid as on date of death.

Loan:  Loan facility is available under this plan after the payment of premiums for at least two full years.

Income Tax Benefit : 
1. Premium paid under this plan is eligible for TAX rebate under section 80c. 
2. Maturity under this plan is free under sec 10(10D).

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