LIC Jeevan Tarun Plan 734 in Bhadra

LIC Jeevan Tarun Plan 734 Education Fund

Complete Guide to LIC Jeevan Tarun Plan No. 734

Are You Securing Your Child's Future with the Right Educational Plan?

This guide is based strictly on LIC’s official brochure.

Every parent dreams of providing the absolute best education and opportunities for their children. Whether you live right here near Ambedkar Chowk in Bhadra (335501) or in the surrounding villages, you know that the cost of higher education is rising rapidly every single year. Without a solid financial strategy, fulfilling these dreams can become a heavy burden.

If you are searching for an "LIC Agent near me" to help you navigate your child's financial planning, you have arrived at the right place. Welcome to Ashuram Insurance Expert, your trusted local advisor. We understand the local needs of families in our region, and today, we are going to explore one of the most reliable and flexible policies designed specifically for children: the LIC Jeevan Tarun Plan No. 734.

Read on to understand exactly how this policy works, what policy benefits it offers, and why choosing the right local guidance can make all the difference in your financial journey.

Understanding the Need for Child Education Planning

In today's fast-paced world, relying solely on standard savings accounts is no longer enough to beat inflation, especially when it comes to higher education expenses. By the time a toddler reaches college age, the fees for professional degrees, specialized courses, and university expenses multiply significantly. Parents need a dedicated fund that matures exactly when the child reaches critical educational milestones.

You need a plan that ensures funds are available between the ages of 20 and 24, which are the prime years for university education and career establishment. More importantly, you need a safety net that ensures these goals are met even if an unfortunate event occurs.

LIC Jeevan Tarun Plan 734: A Comprehensive Overview

LIC's Jeevan Tarun (UIN: 512N299V03) is a Participating, Non-linked, Life, Individual, savings plan designed specifically for children. This plan offers an attractive combination of protection and saving features.

What makes this plan special is that it is tailored to meet the educational and other needs of growing children through annual Survival Benefit payments from ages 20 to 24 years, followed by a final Maturity Benefit at the age of 25 years. The plan can be purchased by any parent or grandparent for a child aged between 0 to 12 years. Furthermore, the proposer has the flexibility to choose the proportion of Survival Benefits they wish to avail during the term of the policy out of four available options.

Key Features of LIC Jeevan Tarun

This policy is packed with features designed for flexibility and security:

The plan provides a dual advantage of financial protection and long-term savings.
You have the flexibility to choose your premium payment frequency based on your financial convenience (yearly, half-yearly, quarterly, or monthly).
You can choose the specific option for Survival Benefits to be availed when your child needs the funds.
There is an option to receive Death or Maturity benefits in instalments rather than a lump sum.
You can opt for the LIC's Premium Waiver Benefit Rider by paying an additional premium.
The plan offers the benefit of an attractive High Sum Assured Rebate for larger policies.
It takes care of immediate liquidity needs through a reliable loan facility.

Eligibility Conditions and Basic Rules

Before investing, it is important to know if your child qualifies for this plan. Here are the strict eligibility parameters:

Minimum Age at Entry: 90 days completed
Maximum Age at Entry: 12 years (last birthday)
Minimum Maturity Age: 25 years (last birthday)
Maximum Maturity Age: 25 years (last birthday)
Premium Paying Term: This is calculated as 20 minus the age at entry. For example, if your child is 5 years old, the premium paying term will be 15 years.
Policy Term: This is calculated as 25 minus the age at entry.
Minimum Basic Sum Assured: ₹2,00,000
Maximum Basic Sum Assured: There is no upper limit, but it must be in specific multiples depending on the amount.

Detailed Benefits Breakdown

When you sit down with an advisor at our LIC Premium Point in Bhadra, the first thing we discuss is how the policy benefits are paid out. The LIC Jeevan Tarun plan offers structured payouts.

The Death Benefit

Financial security is the core of any life insurance plan. The Death Benefit payable on the death of the life assured during the policy term after the date of commencement of risk, but before the maturity date, shall be the "Sum Assured on Death" along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any.

The "Sum Assured on Death" is defined as the higher of 7 times the annualized premium or 125% of the Basic Sum Assured. Importantly, this Death Benefit shall not be less than 105% of the total premiums paid up to the date of death.

However, if the child's age at entry is below 8 years and unfortunate death occurs before the commencement of risk, the Death Benefit payable shall strictly be the return of Total Premiums paid (excluding taxes, extra premium, and rider premiums), without any interest.

Survival Benefit (The 4 Options)

This is where the plan shines for educational planning. On the life assured surviving each of the respective policy anniversaries, a fixed percentage of the Basic Sum Assured is paid from the age of 20 to 24. You must choose one of these four options at the proposal stage:

Option 1: No Survival Benefit is paid from age 20 to 24.
Option 2: 5% of the Basic Sum Assured is paid each year for 5 years.
Option 3: 10% of the Basic Sum Assured is paid each year for 5 years.
Option 4: 15% of the Basic Sum Assured is paid each year for 5 years.

Maturity Benefit

When the child turns 25, the policy matures. On the life assured surviving the policy term, the "Sum Assured on Maturity" along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. The Maturity amount depends on the Option you chose initially:

Option 1: 100% of the Basic Sum Assured is paid.
Option 2: 75% of the Basic Sum Assured is paid.
Option 3: 50% of the Basic Sum Assured is paid.
Option 4: 25% of the Basic Sum Assured is paid.

Services Available in Nohar and Nearby Areas

While our primary base is in Bhadra, Ashuram Insurance Expert proudly serves families across the region, including Hanumangarh district. Policyholders in Bhadra (335501) and nearby areas like Utradabas and Ajitpura (Ajeetpura) often need clarity about Policy conditions. If you are reviewing your LIC policy in areas such as Gandhi Bari or Bhangarh, we provide comprehensive doorstep consultation and digital support. Our LIC services extend beyond just helping you choose a policy. We assist with premium collections, policy updates, revival of lapsed policies, and dedicated claim settlement support across all these secondary locations. Whether you are in a nearby village or directly in Nohar town, our advisory services remain just a phone call away.

Risk Commencement and Vesting Rules

Understanding when life cover begins is very important for parents.

Date of Commencement of Risk: If the age at entry of the child is less than 8 years, the risk under this plan will commence either 2 years from the date of commencement of the policy or from the policy anniversary coinciding with or immediately following the completion of 8 years of age, whichever is earlier. For children aged 8 years or more, the risk cover will commence immediately from the date of issuance of the policy.
Date of Vesting: Since the policy is issued on the life of a minor, it shall automatically vest in the Life Assured on the policy anniversary coinciding with or immediately following the completion of 18 years of age. At this point, it becomes a direct contract between the Corporation and the grown child.

The Premium Waiver Benefit Rider (Crucial for Parents)

We highly recommend the LIC's Premium Waiver Benefit Rider (UIN: 512B204V04) for parents. If this rider is opted for, in the unfortunate event of the death of the Proposer (the parent paying the premium), the payment of all future premiums falling due after the date of death till the expiry of the rider term shall be waived entirely. This ensures that the child's educational fund remains intact and continues to grow, securing their future exactly as you planned, even in your absence. If you need policy help adjusting your existing plans to add this rider, let us know.

Settlement Options for Death and Maturity Benefits

LIC Jeevan Tarun allows policyholders or the grown Life Assured to receive the Death Benefit or Maturity Benefit in instalments over a chosen period of 5, 10, or 15 years instead of a lump sum amount.

The instalments are paid in advance at yearly, half-yearly, quarterly, or monthly intervals. There are minimum instalment amounts required: ₹5,000 for monthly, ₹15,000 for quarterly, ₹25,000 for half-yearly, and ₹50,000 for yearly modes. This is an excellent way to ensure the child receives a steady income stream rather than a large lump sum they might not know how to manage.

Important Policy Rules: Grace Period, Surrender, and Loans

Grace Period: A grace period of 30 days is allowed for payment of yearly, half-yearly, or quarterly premiums, and 15 days for monthly premiums from the date of the first unpaid premium. During this period, the policy remains fully in-force.
Paid-Up Value: If at least one full year's premium has been paid and subsequent premiums are missed, the policy does not become void. Instead, it continues as a paid-up policy with reduced benefits till the end of the term.
Surrender Value: The policy can be surrendered after the completion of the first policy year provided one full year's premium has been paid. However, a Guaranteed Surrender Value is acquired only upon payment of at least two full years' premiums.
Policy Loan: Liquidity is available. A loan can be availed after the completion of the first policy year provided one full year's premium has been paid. The maximum loan allowed is 50% of the surrender value for in-force policies before two years, and 75% after payment of two full years' premiums.

Who Should Buy This Plan?

This plan is the perfect financial tool for:

Parents with young children (infants up to 12 years old) looking for an automated college savings fund.
Grandparents who wish to provide structured financial support as per LIC policy terms for their grandchildren's future.
Families in Bhadra, Nohar, and Hanumangarh looking for a trusted, government-backed savings vehicle with life protection.

🔥 Why Choose Ashuram Modi?

When dealing with long-term financial planning, trust and experience are everything. Ashuram Modi has been serving since 1990 as a Chief Life Insurance Advisor. As your dedicated LIC Agent in Bhadra, we don't just guide you through policy options; we build lifelong relationships. Operating near the Main Bus Stand Road in Bhadra (335501), Ashuram Insurance Expert provides transparent, honest, and localized advice. We ensure all your paperwork is flawless, your premium payments are tracked properly, and if the time ever comes, your claim settlement process is smooth and hassle-free.

Call/WhatsApp Ashuram Modi: 9414536577

Visit Our Office: Main Bus Stand Road, Near Ambedkar Chowk, Bhadra (335501)

Take Action for Your Child's Future Today!

Frequently Asked Questions (FAQs)

1. What is the age limit for the LIC Jeevan Tarun plan?

The plan can be purchased for a child whose age is between 90 days completed and 12 years (last birthday).

2. Can I get a loan on this policy for emergency expenses?

Yes, a loan facility is available under this policy after the completion of the first policy year, provided at least one full year's premium has been paid.

3. Where to pay LIC premium in Bhadra?

You can conveniently pay your premiums directly through Ashuram Insurance Expert, an authorized LIC Premium Point located near Main Bus Stand Road, Bhadra (335501).

4. What happens if I miss my premium due date?

LIC provides a grace period of 30 days for yearly, half-yearly, and quarterly premium payments, and 15 days for monthly premium payments. Your risk cover continues during this grace period.

5. What are the survival benefit options in this plan?

You can choose from four options: Option 1 (No survival benefit, 100% maturity), Option 2 (5% annually for 5 years, 75% maturity), Option 3 (10% annually for 5 years, 50% maturity), or Option 4 (15% annually for 5 years, 25% maturity).

6. Does the LIC Jeevan Tarun policy offer bonuses?

Yes, this is a participating policy. It is entitled to receive Simple Reversionary Bonuses and a Final Additional Bonus based on the experience and profit declarations of the Corporation, provided the policy is in-force.

7. Where is the nearest LIC advisor in Nohar or Bhadra?

Ashuram Modi (Ashuram Insurance Expert) is your highly experienced, local Chief Life Insurance Advisor serving Bhadra, Nohar, and surrounding areas since 1990. Contact us at 9414536577 for doorstep service.