Jeevan Tarang Policy

[sherlyk]

Jeevan Tarang is a Whole Life Plan from LIC , Whole life plan means that you are insured for whole life (max age 100) The plan offers three Accumulation periods – 10, 15 and 20 years. A proposer may choose any of them. This is the Tenure by when your Policy Matures.

Whenever you die , you will ge the Sum assured and then the Policy Expires . This policy will expire if you are at age 100 .

If you Die before the Maturity , you will get the Sum Assured + All the Bonus Accumulated till date .
The yearly Premimum will depends on two things , your Tenure and your Age . It can range from 11% (Policy for 10 yrs) , 7-8% (Policy for 15 yrs) or 5-5.5% (policy for 20 yrs) .

For exact numbers see here. The percentages are with respect to your Sum Assured , 5.5% premium means 5.5% of your Sum assured . so Rs 10,00,000 of Sum assured means 55,000 of Premium each Year .

Incase you surviuve till your Policy Tenure , then at the end of your Tenure , you will get Bonus accumulated (not the Sum assured) and an annuity of exact 5.5% each year after the Policy Matures . One will get 5.5% of the Sum Assured each year till his death or upto age 100 whichever is earliar .

If you can not pay the Premiums and want to stop the policy (only after 3 yrs) , you have two choices , either make it a Paidup policy or take back the Surrender Value . This is explained in detail later , so move on .
These are the main basic and approximate points of the Policy , for exact detials see the policy page at LIC website .


Keywords:Jeevan Tarang , Life Plan , LIC , Policy Matures, Policy Expires , Bonus, Premiums,Policy, LIC website .

[simba1211]

I had thought about this policy but I think they are taking too many years and not yielding good profit in the end.