LIC Jeevan Tarun: Invest Rs 150 PD, secure future in 12 years; boon for young parents

The Life Insurance Corporation of India is known for making plans for every one. Most of these plans give life insurance as well as assurance. LIC is a market leader because it caters to all ages and every section of the society. Take LIC Jeevan Tarun for instance. LIC Jeevan Tarun can secure your future needs for as less as Rs 150 per day. The time duration for this plan is also lesser than other plans. Here are some basic details of LIC Jeevan Tarun.

LIC Jeevan Tarun is a non-linked, participating plan. It is designed for short-term funds. It also gives a person the benefit of the LIC cover.

This plan can be a boon for young parents. You can take this plan for your children to meet their educational funds when they grow up. It can also be used for their marriages or other such funds.

You can invest the money for 20 years for 25 year worth of insurance cover. The minimum sum assured is Rs 75000 and there is no limit for the maximum sum assured.

You can pay premiums monthly, quarterly and half yearly and annually.

This plan can be purchased for children not more than 12 years of age. They will get the money when they grow up till 25. This means the plan can be purchased for the duration till the child reaches the age of 25.

If you spend Rs 150 on this plan per day, which is Rs 4500 per month, you will get Rs 8.44 lakh when the child grows up. This calculation is based on the assumption that the child is 12 years of age when the LIC plan was purchased.