LIC Jeevan Tarun Plan 734 Calculator
When it comes to securing a child’s future, especially for major milestones like higher education and marriage, financial planning becomes extremely important for parents and grandparents. The LIC Jeevan Tarun Plan 734 is a
LIC Jeevan Tarun Plan 734 Calculator
Plan No. 734 (UIN: 512N299V02)
Survival Benefit Schedule
When it comes to securing a child’s future, especially for major milestones like higher education and marriage, financial planning becomes extremely important for parents and grandparents. The LIC Jeevan Tarun Plan 734 is a specially designed child insurance plan that combines savings and protection to support a child’s future financial requirements. To help buyers understand the policy benefits and estimated returns more clearly, LIC also offers the LIC Jeevan Tarun Plan 734 Calculator.
What is LIC Jeevan Tarun Plan 734?
LIC Jeevan Tarun Plan 734 (UIN: 512N299V03) is a non-linked, participating child savings insurance plan created to support children’s long-term financial goals. The plan is designed to provide financial assistance for important life stages such as higher education, career planning, and marriage. It follows a limited premium payment structure, allowing policyholders to pay premiums for a fixed duration while enjoying policy benefits over a longer term.
- The plan is available for children aged between 30 days and 12 years.
- It combines insurance protection with long-term savings, allowing policyholders to choose from multiple survival benefit options based on their financial goals.
- LIC Jeevan Tarun Plan 734 is a money-back policy that provides periodic survival benefits during the policy term along with a maturity benefit at the end of the plan.
- Since it is a non-linked insurance plan, it is completely free from market risks, and the returns are not affected by stock market fluctuations.
Key Features of LIC Jeevan Tarun Plan 734
Understanding the important features of LIC Jeevan Tarun Plan 734 helps policy buyers use the calculator more effectively and gain clarity about the benefits available under the policy.
Eligibility Criteria
- The child (life assured) must be between 30 days and 12 years of age at the time of policy purchase.
- The proposer for the policy can be either a parent or a grandparent.
Eligibility Details for LIC Jeevan Tarun Plan 734
| Parameter | Minimum Value | Maximum Value |
|---|---|---|
| Child Entry Age | 30 days (completed) | 12 years (last birthday) |
| Child Maturity Age | 25 years | 25 years |
| Policy Term | 25 − child’s entry age | 25 − child’s entry age |
| Premium Paying Term (PPT) | 20 − child’s entry age | 20 − child’s entry age |
| Basic Sum Assured | ₹2,00,000 | No upper limit (in multiples of ₹5,000) |
| Proposer Entry Age | 18 years | 55 years |
| Premium Payment Modes | Yearly, Half-yearly, Quarterly, Monthly | Same |
Premium Paying Term
LIC Jeevan Tarun Plan 734 comes with a limited premium payment structure. The premium payment duration depends on the child’s age at entry and the selected policy configuration. After the premium-paying term is completed, the policy continues to provide survival and maturity benefits.
Sum Assured Benefits
- The minimum Basic Sum Assured under the plan is ₹2,00,000.
- Higher sum assured options are available in multiples of ₹5,000.
- LIC may also provide rebates on larger sum assured values, helping policyholders obtain greater coverage at comparatively lower premium rates.
Policy Term and Benefit Options
The policy term is linked to the child’s age and continues until the child reaches 25 years of age.
Available Benefit Options
Option 1
No survival benefits are paid during the policy term. The entire Sum Assured is paid as a lump sum at maturity.
Option 2
Periodic survival benefits are paid during the policy term, while the remaining amount is paid at maturity. Depending on the selected option, survival payouts may be 25%, 50%, or 75% of the Basic Sum Assured at different stages.
Death Benefit
In the unfortunate event of the child’s death during the policy term, the death benefit payable will be the highest of the following:
- 125% of the Basic Sum Assured
- 7 times the annualized premium
- 105% of the total premiums paid up to the date of death
In addition to the death benefit, vested LIC bonuses are also payable.
Bonus Facility
LIC Jeevan Tarun Plan 734 is a participating policy, which means it qualifies for bonuses declared by LIC from time to time. These bonuses increase the overall maturity and death benefits.
Loan and Surrender Benefits
- Policyholders can avail themselves of loans against the policy once it acquires surrender value.
- The policy becomes eligible for surrender value after at least two full years’ premiums have been paid.
Available Rider Benefit
Premium Waiver Benefit Rider
If the proposer dies during the policy term, future premiums under the policy are waived. This ensures the child’s financial goals remain protected even in the proposer’s absence.
Understanding LIC Jeevan Tarun Plan 734 Calculator
The LIC Jeevan Tarun Plan 734 Calculator is an online calculation tool that helps estimate premiums, maturity benefits, survival payouts, and death benefits based on policy inputs. It is useful for parents, grandparents, and financial advisors for better financial planning.
What Does the LIC Jeevan Tarun Plan 734 Calculator Do?
Premium Calculation
The calculator estimates premium amounts based on factors such as the child’s age, sum assured, policy term, and premium payment mode.
Maturity Benefit Estimation
It provides an estimated maturity value by considering survival benefits and expected bonuses.
Death Benefit Projection
Users can understand the approximate financial protection available in case of an unfortunate event.
Comparison and Customization
Different policy values and payment options can be compared easily to identify the most suitable plan structure.
Financial Planning Support
The calculator helps families plan future expenses like education and marriage by estimating expected returns in advance.
How to Use the LIC Jeevan Tarun Plan 734 Calculator?
Using the LIC Jeevan Tarun Plan 734 Calculator is simple and requires only a few basic details. The calculator helps estimate premiums, maturity benefits, survival payouts, and death coverage instantly.
Step 1: Enter the Child’s Age
Input the child’s age, which must be between 30 days and 12 years.
Step 2: Choose the Sum Assured
Select the desired Basic Sum Assured starting from ₹2,00,000 and above, depending on your financial goals.
Step 3: Select the Policy Term
Choose the policy duration based on the child’s age and future financial planning needs.
Step 4: Select Premium Payment Mode
Choose the premium payment frequency from the available options:
- Yearly
- Half-yearly
- Quarterly
- Monthly
Step 5: Choose the Benefit Option
Select the preferred benefit structure:
- Option 1: No survival benefits during the policy term, full payout at maturity
- Option 2: Periodic survival benefits during the policy term along with maturity benefits
Step 6: Click on Calculate
After entering all details, click the calculate button to view premium estimates, maturity benefits, survival payouts, and death benefit details instantly.
What Results Does the Calculator Show?
The LIC Jeevan Tarun Plan 734 Calculator provides the following information:
- Estimated premium amount payable
- Projected maturity benefits with expected bonuses
- Survival benefit payouts (if selected)
- Death benefit amount
- Surrender value details
Benefits of Using LIC Jeevan Tarun Plan 734 Calculator
Easy and Convenient
The calculator eliminates the need for manual calculations and provides quick and accurate results.
Flexible Customization
Users can adjust the sum assured, policy term, and benefit options to compare different financial scenarios.
Better Financial Understanding
Parents and guardians can clearly understand premium commitments and expected future returns.
Supports Smart Decision-Making
The calculator helps compare various premium and benefit combinations to select the most suitable option.
Greater Transparency
It clearly displays maturity, survival, and death benefits, helping buyers make informed decisions confidently.
Advantages of LIC Jeevan Tarun Plan 734
Specially Designed for Children
This child-specific plan is available only for children up to 12 years of age.
Limited Premium Payment
Premiums are paid only for a limited period, while benefits continue for a longer duration.
Combination of Savings and Protection
The policy provides life insurance coverage along with long-term financial savings.
Money-Back Benefit
Periodic survival benefits help maintain liquidity during the policy term.
Bonus Participation
The plan participates in LIC profits through bonuses, increasing the overall maturity value.
Financial Security for the Family
The death benefit ensures financial support for the child’s future in case of an unfortunate event.
Loan Facility Available
Policyholders can avail themselves of loans against the policy after it acquires surrender value.
Premium Waiver Benefit Rider
In case of the proposer’s death, future premiums are waived while policy benefits continue uninterrupted.
Why Choose LIC Jeevan Tarun Plan 734?
Safe and Secure Investment
Since the policy is non-linked, it is free from market risks and offers stable long-term savings.
Ideal for Future Milestones
The plan is specially structured to support future expenses such as higher education and marriage.
Encourages Disciplined Savings
The limited premium payment structure promotes systematic long-term financial planning.
Flexible Benefit Options
Policyholders can choose between periodic survival benefits or a larger lump sum maturity amount.
Backed by LIC’s Trust
LIC’s long-standing reputation and reliability make the plan a trusted option for child financial planning.
Important Terms You Should Know
| Term | Meaning |
|---|---|
| Basic Sum Assured (BSA) | The guaranteed insurance amount under the policy |
| Survival Benefit | Periodic payouts received during the policy term |
| Maturity Benefit | Amount payable at the end of the policy term |
| Bonus | Additional amount declared by LIC from profits |
| Premium Payment Term | Duration for which premiums are payable |
| Policy Term | Total duration of the insurance policy |
| Premium Waiver Rider | Rider that waives future premiums on proposer’s death |
Example Using LIC Jeevan Tarun Plan 734 Calculator
Suppose you have a child aged 3 years and want to purchase a policy with:
- Sum Assured: ₹5,00,000
- Policy Term: 15 years
- Premium Mode: Yearly
- Benefit Option: Option 2 (survival benefits)
Calculation Process
- Enter the child’s age as 3 years
- Select ₹5,00,000 as the Basic Sum Assured
- Choose a 15-year policy term
- Select yearly premium payment mode
- Choose Option 2 for survival benefits
- Click calculate
The calculator will instantly display:
- Estimated yearly premium
- Survival benefits payable during the policy term
- Projected maturity amount with bonuses
- Death benefit details
This helps users decide whether the premium fits their budget or whether they should modify the sum assured or policy term.
Useful Tips for LIC Jeevan Tarun Plan 734
Purchase Early
Buying the policy when the child is younger generally results in lower premium costs.
Select the Right Sum Assured
Choose a sum assured that matches future educational and marriage expense expectations.
Understand Benefit Options Carefully
Decide whether you prefer periodic payouts during the policy term or a larger maturity corpus.
Add Riders for Better Protection
Choosing the Premium Waiver Benefit Rider can provide additional financial security.
Compare Multiple Scenarios
Use the calculator multiple times with different values to identify the most suitable policy structure.
How to Buy LIC Jeevan Tarun Plan 734?
- Visit the nearest LIC branch or LIC’s official website
- Consult LIC agents or financial advisors
- Use online insurance platforms to compare and apply easily
- Provide accurate child and proposer details during application
- Carefully read the policy document and terms before purchase
For official details and updates, you can visit the official website of LIC India.
FAQs About LIC Jeevan Tarun Plan 734 Calculator
Who can purchase LIC Jeevan Tarun Plan 734?
The policy can be purchased for children aged between 30 days and 12 years. The proposer of the policy can be either a parent or a grandparent.
What is the minimum and maximum sum assured available under this plan?
The minimum Basic Sum Assured under LIC Jeevan Tarun Plan 734 is ₹2,00,000. There is no fixed upper limit for the sum assured, and higher sum assured values may qualify for premium rebates.
Which premium payment modes are available?
Policyholders can choose from the following premium payment frequencies according to their convenience:
- Yearly
- Half-yearly
- Quarterly
- Monthly
What happens if the child dies during the policy term?
In the unfortunate event of the child’s death during the policy term, the nominee receives the highest of the following:
- 125% of the Basic Sum Assured
- 7 times the annualized premium
- 105% of the total premiums paid till the date of death
Additionally, vested bonuses declared by LIC are also payable.
What is the difference between Option 1 and Option 2?
- Option 1: No survival benefits are paid during the policy term, and 100% of the Sum Assured is paid at maturity.
- Option 2: Survival benefits are paid periodically during the policy term, while the remaining amount is paid at maturity.
Does LIC Jeevan Tarun Plan 734 offer bonus benefits?
Yes, this is a participating policy, which means it is eligible for bonuses declared by LIC from time to time. These bonuses increase both maturity and death benefit payouts.
Conclusion
LIC Jeevan Tarun Plan 734 is a flexible child insurance and savings plan designed to support important future goals such as education and marriage. The plan offers a balanced combination of financial protection, periodic benefits, bonus participation, and long-term savings. With the help of the LIC Jeevan Tarun Plan 734 Calculator, parents and grandparents can easily estimate premiums, maturity value, survival benefits, and death coverage, making financial planning simpler and more transparent.
Ashish Pandey
My name is Ashish Pandey, and I work as a Content Writer for Lic Policy Calculator. I am passionate about writing informative and engaging articles. With over 4 years of blogging experience, I always strive to inspire others, share valuable knowledge, and help aspiring bloggers achieve success in their blogging journey.
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