LIC Jeevan Tarun – Plan No. 734
An independent, plain-language look at LIC Jeevan Tarun (Plan No. 734, UIN 512N299V03) — what it offers, who it may suit, and what to check before buying.
Currently Available Child / Money Back Plan UIN: 512N299V03
What Is LIC Jeevan Tarun?
LIC's Jeevan Tarun is a child plan that offers a choice of payout structures between ages 20 and 24 of the child (per plan rules) — either as staggered survival benefits or as a single lump sum at maturity, depending on the option chosen at inception. A premium waiver benefit generally applies on the proposer's death during the term.
Key Features
- Flexible payout options — staggered instalments or a lump sum, chosen upfront
- Premium waiver benefit protects the child's benefit if the proposer dies during the term
- Participates in LIC bonuses
- Entry age typically covers infants through pre-teens, subject to LIC's current eligibility rules
Who May Consider This Plan
- Parents who want flexibility in choosing between periodic payouts or a single maturity lump sum
- Families planning specifically for a child's higher education years
Important Considerations
The payout option chosen at the start generally cannot be changed later, so it is worth deciding upfront whether periodic amounts (useful for staged education costs) or a lump sum (useful for a single large expense) better matches your plan.
Example Scenario
Illustrative only: A parent insuring a young child could choose the lump-sum maturity option, timed so the payout lands around the child's college-entry years, or the staggered option for support across multiple years of study.
LIC Jeevan Tarun FAQs
Generally, the payout option is chosen at the start of the policy per LIC's plan rules — confirm current flexibility, if any, with S. Kulkarni before applying.
Discuss LIC Jeevan Tarun With S. Kulkarni
Get a personalised illustration and understand how this plan compares with alternatives for your goal.