When it comes to securing the future of your child, LIC Jeevan Tarun Plan 934 is one of the most trusted child insurance plans in India. It helps parents plan for their child’s education, higher studies, and other financial needs as they grow up.

What Is LIC Jeevan Tarun Plan?

LIC Jeevan Tarun Plan 934 is a participating, non-linked, limited premium payment plan specially designed for children. It combines protection with savings, providing the child financial security even if the parent is not around.

In simple words, this plan helps parents save regularly so that their child receives a lump sum amount or annual payouts at important life stages — like education, graduation, or marriage.

Key Highlights of LIC Jeevan Tarun Plan 934

Here are some important points you should know about this plan:

• Plan Type: Child endowment plan (with bonus)
• Policy Number: 934
• Entry Age of Child: 90 days to 12 years
• Maturity Age: 25 years
• Premium Payment Term (PPT): 8 to 20 years
• Policy Term: 25 years minus the child’s current age
• Minimum Sum Assured: ₹75,000
• Maximum Sum Assured: No upper limit (in multiples of ₹5,000)
• Premium Payment Options: Yearly, Half-yearly, Quarterly, Monthly
• Loan Facility: Available after three years
• Surrender Value: After three years (if premiums are paid regularly)
• Bonus: Yes (Simple Reversionary & Final Additional bonus)

Why Choose LIC Jeevan Tarun?

LIC Jeevan Tarun is ideal for parents who wish to ensure their child’s future without worrying about uncertainties. Let’s look at its main advantages.

1. Financial Security for the Child

Even if something unfortunate happens to the parent (policyholder), LIC ensures the child still receives full benefits. The plan continues automatically, and LIC pays all due benefits at maturity.

2. Flexible Payment Options

Parents can choose between annual survival benefits or a lump sum payout at maturity based on the child’s age and financial needs.

3. Bonuses Add Extra Earnings

Since this is a participating plan, LIC offers yearly bonuses that increase your total returns on maturity or death claim.

4. Tax Benefits

Premiums paid under this plan are eligible for tax deductions under Section 80C, and the maturity/death benefit is tax-free under Section 10(10D) of the Income Tax Act, 1961.

5. Available for All Family Types

Whether you’re a salaried employee, self-employed, or run a business, you can invest easily because the premium amount is flexible and can fit most budgets.

Understanding the LIC Jeevan Tarun Plan Options

The plan offers four different options for choosing how much money the child receives during different ages. These combinations help you customize the payout according to your financial goals.

The policyholder can select one of these four options at the time of purchase according to their child’s future needs.

For example, if you want your child to receive a regular income during college, you can choose Option 3 or 4. But if you want a lump sum amount at age 25, Option 1 works best.

What Is LIC Jeevan Tarun Calculator?

The LIC Jeevan Tarun Calculator is a digital tool that helps you find:

• The premium amount you need to pay
• The maturity amount your child will receive
• The bonus value
• The death benefit

It saves time and gives you clarity about the policy value before you invest. Anyone can use this calculator online — even without financial expertise.

How Does the Calculator Work?

The calculator works on basic inputs like your child’s age, sum assured, term, and bonus rate. Once you fill in these details, it automatically estimates how much you’ll pay and receive at different stages.

Steps to Use LIC Jeevan Tarun Calculator:

1. Enter the child’s current age — between 0.25 (90 days) and 12 years.
2. Enter the desired sum assured — minimum ₹75,000.
3. Select the premium payment term.
   It can be any number between 8 to 20 years.
4. Choose the survival benefit option (1 to 4) based on your goal.
5. Select payment frequency (monthly, quarterly, half-yearly, or yearly).
6. Click on “Calculate” to see the results.

You’ll instantly see:

• Premium to be paid
• Total payout on maturity
• Estimated bonuses
• Total policy benefits (death + maturity)

LIC Jeevan Tarun Calculator Example

Let’s take a simple example to understand how the calculator works.

Example:

• Child’s Age: 8 years
• Policy Term: 17 years (till age 25)
• Sum Assured: ₹500,000
• Option Chosen: Option 3 (10% survival benefit every year)
• Premium Paying Term: 15 years

Now, based on LIC’s current bonus rates, the estimated maturity value can look like this:

• Yearly Premium: ₹26,000 (approx.)
• Total Premium Paid: ₹3.9 lakh
• Total Survival Benefits Received (20–24 years): ₹50,000 each year × 5 = ₹2.5 lakh
• Maturity Amount (Age 25): Around ₹3.5 to ₹4 lakh (including bonuses)

So, the total return your child gets can be around ₹6.5–₹7 lakh for a ₹5 lakh sum assured.

(Note: Actual bonus and benefits may vary depending on LIC’s declared rates.)

Death Benefit Under Jeevan Tarun Plan

If, unfortunately, the life assured (parent) passes away during the policy term, LIC provides the following death benefit:

Death Benefit = 125% of Sum Assured + Accrued Bonuses + Final Additional Bonus

Also, the future premiums are waived off, and the plan continues as if the premiums are still being paid. The child receives all maturity/survival benefits as scheduled.

This makes it a powerful long-term protection plan for your child’s financial independence.

Eligibility Criteria

Here’s a quick look at the basic eligibility requirements for buying LIC Jeevan Tarun Plan 934:

Bonus in LIC Jeevan Tarun Plan

One of the attractive features of this plan is that it is eligible for reversionary and final additional bonuses.

Types of Bonuses:

1. Simple Reversionary Bonus: Declared annually and added to the policy till maturity.
2. Final Additional Bonus: Paid at maturity or on death if the policy is in force for a long duration.

Both these bonuses increase your overall maturity value.

Loan and Surrender Facilities

After paying premiums for 3 full years, the policyholder becomes eligible for:

• Policy Loan: You can avail a loan against the policy’s surrender value.
• Surrender Value: You can surrender the policy if you need funds urgently. LIC pays the surrender value accordingly.

This ensures your plan remains flexible even in difficult financial times.

Riders Available

You can enhance the coverage by adding LIC Premium Waiver Benefit Rider (UIN: 512B204V02).
If the proposer dies during the premium payment term, all future premiums are waived off, but the policy continues for the child.

This rider is optional but highly recommended.

Benefits Summary

Here’s a quick summary of the main benefits of LIC Jeevan Tarun:

• Life cover till the end of the policy term.
• Flexible payout options for education or marriage.
• Tax savings under Section 80C and 10(10D).
• Bonuses increase returns significantly.
• Loan facility for financial emergencies.
• Peace of mind with guaranteed maturity value.

LIC Jeevan Tarun Plan vs Normal Savings

This comparison clearly shows that Jeevan Tarun is more profitable for long-term child planning than a simple savings method.

How to Buy LIC Jeevan Tarun Plan (934)

You can buy the plan through:

• LIC official website (www.licindia.in)
• Nearest LIC branch office
• Authorized LIC agent or advisor

Documents generally required:

• Child’s birth certificate
• Parent’s ID and address proof
• Recent passport-size photos
• Income proof or PAN

It’s always smart to calculate your premium and maturity beforehand using the LIC Jeevan Tarun Calculator to plan conveniently.

Common Mistakes to Avoid

1. Not choosing the correct option (1–4): Select an option that matches your child’s likely financial needs.
2. Delaying investment: Start early — the younger the child, the cheaper the premium.
3. Skipping premium payments: Keep premiums timely to avoid loss of bonus or policy lapse.
4. Ignoring riders: Adding riders like “Premium Waiver Benefit” adds huge protection.
5. Not reviewing yearly: Review bonus announcements every few years to stay updated.

Frequently Asked Questions (FAQ)

Conclusion

LIC Jeevan Tarun Plan 934 is one of the best investments you can make for your child’s bright and secure future. It combines the safety of life insurance with the benefits of long-term savings and annual bonuses. Using the LIC Jeevan Tarun Calculator, you can easily estimate premiums, maturity, and benefits before investing, making your decision fully informed and transparent.

Whether it’s your child’s higher education, career development, or marriage needs, this plan ensures that your financial support will always be there — even if life takes unexpected turns.