👶 LIC Jeevan Tarun Plan 734 – Complete Child Plan Guide (2025)

The LIC Jeevan Tarun Plan (Table No. 734) is a non-linked, participating, limited premium payment money back plan, specially crafted to meet your child’s education and career goals. It offers flexible payouts from age 20 to 24 and a lump sum maturity benefit at age 25 — all without any market risk.

Parents and grandparents can start this plan for children aged 30 days to 12 years, and with the Premium Waiver Benefit Rider, the plan ensures that even in the absence of the guardian, the child’s future is secure.

🎯 Key Features at a Glance

Feature	Details
Plan Type	Traditional, Non-Linked, Participating
Launch Date	18th November 2024
Age at Entry	30 days to 12 years
Policy Term	25 – Child’s Age at Entry
Premium Paying Term	20 – Child’s Age at Entry
Minimum Sum Assured	₹2,00,000 (in multiples of ₹5,000)
Risk Coverage	Till maturity (Age 25)
Premium Waiver Benefit Rider	Available
Loan & Surrender	After 1 year
Premium Modes	Yearly, Half-Yearly, Quarterly, Monthly (E-NACH only)
Tax Benefits	Section 80C & 10(10D)

🎁 What Makes Jeevan Tarun Special?

✅ 4 Custom Options to Choose Money Back & Maturity

Option	Age 20–24 Payouts	At Age 25 Maturity
Option 1	No money back	100% of SA + Bonus + FAB
Option 2	5% of SA yearly	75% of SA + Bonus + FAB
Option 3	10% of SA yearly	50% of SA + Bonus + FAB
Option 4	15% of SA yearly	25% of SA + Bonus + FAB

You can customize the plan to match your child’s financial needs — like saving more for education or marriage.

✅ Premium Waiver Benefit (PWB Rider)

If the parent/guardian (proposer) dies during the term:

Future premiums are waived
Policy continues without interruption
Full benefits are paid as scheduled to the child

This rider is a must-have for complete peace of mind and child’s financial safety.

🧮 Example Illustration – Mr. Suresh’s Plan for His Son

Let’s understand the plan through an example:

Detail	Value
Father (Proposer)	Mr. Suresh, Age 35
Child’s Age	2 Years
Sum Assured	₹5,00,000
Policy Term	23 Years (25 – 2)
Premium Paying Term	18 Years (20 – 2)
Option Selected	Option 4 (15% money back from 20–24)
Premium Waiver Rider	Yes

💰 Premium Payment Summary (With GST)

Mode	1st Year (₹)	2nd Year Onward (₹)
Yearly	₹26,543	₹25,972
Half-Yearly	₹13,420	₹13,131
Quarterly	₹6,784	₹6,638
Monthly	₹2,261	₹2,213

GST included: 4.5% in Year 1, 2.25% from Year 2 onward.

💵 Survival (Money Back) and Maturity Benefits

Child’s Age	Year	Benefit Type	Amount
20	2041	1st Money Back (15% of SA)	₹75,000
21	2042	2nd Money Back	₹75,000
22	2043	3rd Money Back	₹75,000
23	2044	4th Money Back	₹75,000
24	2045	5th Money Back	₹75,000
25	2046	Maturity (25% of SA + Bonus + FAB)	₹7,67,500
Total Benefits	—	—	₹11,42,500

🎯 Maturity Details Breakdown (at Age 25)

Component	Value
25% of Sum Assured	₹1,25,000
Approximate Bonus	₹5,17,500
Final Additional Bonus (FAB)	₹1,25,000
Total Maturity	₹7,67,500

📊 Year-wise Policy Schedule

Year	Age	Premium Paid (₹)	Approx. Life Cover	Money Back (₹)
2023	2	₹26,543	—	—
2024	3	₹25,972	—	—
2025	4	₹25,972	₹6,92,500	—
…	…	…	…	…
2041	20	₹25,972	₹10,77,500	₹75,000
2042	21	₹0	₹11,10,000	₹75,000
2043	22	₹0	₹11,47,500	₹75,000
2044	23	₹0	₹11,95,000	₹75,000
2045	24	₹0	₹12,67,500	₹75,000
2046	25	₹0	Maturity	₹7,67,500
—	—	Total Premium Paid: ₹4,94,039	—	Total Benefit: ₹11,42,500

⚰️ Death Benefit Example

Let’s assume Mr. Suresh’s child dies in 2041 at the age of 20. Here’s what the nominee will receive:

Component	Amount (₹)
Basic Sum Assured	₹5,00,000
Bonus (Approx.)	₹4,27,500
FAB	₹25,000
Total Risk Cover	₹10,77,500
+ Already Paid Money Back	₹75,000
Total Benefit to Nominee	₹11,52,500

✅ Additional Features of LIC Jeevan Tarun 734

Feature	Description
Commencement of Risk	Age 8 or 2 years after policy purchase, whichever earlier
Loan Facility	After 1 year of policy
Surrender	Allowed after 1 year
Free Look (Cooling-off)	30 days from receiving policy document
Assignment/Nomination	Available
Backdating Interest	Allowed within same financial year
Proposal Forms	Form No. 300 and 340

💼 Tax Benefits

Section	Benefit
80C	Premiums paid are eligible for deduction (up to ₹1.5 Lakh/year)
10(10D)	Maturity amount and death benefit are fully tax-free

📌 Summary Table

Particulars	Amount
Total Premium Paid	₹4,94,039
Total Money Back (5 × ₹75,000)	₹3,75,000
Maturity Amount	₹7,67,500
Total Returns	₹11,42,500
Net Gain	₹6,48,461 (excluding tax benefits)

👨‍👩‍👧 Why LIC Jeevan Tarun 734 is Best for Your Child?

✅ Guaranteed money at specific ages
✅ Customize payouts to suit education/marriage needs
✅ Premium Waiver keeps future secure even if proposer dies
✅ Backed by LIC – India’s most trusted insurer
✅ Tax-free maturity and death benefits