LIC's Jeevan Tarun (Plan No.
734)
Benefit Illustration
LIC's Jeevan Tarun (Plan No. 734)
A Par, Non-Linked, Life, Individual Savings Plan
(Unique Identification Number - 512N299V03)
SYKAM KARTHEEK
Distribution channel Offline Agency name Agency code 0208469E
CHANDRA
Name of Age of
ganesh 35 years Date of illustration 23-03-2025
prospect/policyholder prospect/policyholder
Name of life assured Vivan Age of life assured 1 years Benefit UID/Proposal no.
Mode of payment of
Policy term 24 years Premium payment term 19 years Yearly
premium
Basic sum assured Rs. 11,00,000 Sum assured on death1 13,75,000 Instalment premium 48,368.00
(at inception of the policy) Rs. (for base plan)
Bonus type Simple reversionary and final additional bonus Policy option Option 1
How to read and understand this benefit illustration?
This benefit illustration is intended to show year-wise premiums payable and benefits under the policy, at two assumed rates of interest i.e., 8% p.a. and 4% p.a.
Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy
offers guaranteed benefits then these will be clearly marked 'guaranteed' in the illustration table on this page. If your policy offers variable benefits then the illustrations on this
page will show two different rates of assumed future investment returns, of 8% p.a. and 4% p.a. These assumed rates of return are not guaranteed and they are not the upper
or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance.
Premium summary
Particular Base plan Riders2 Total instalment premium
Instalment premium without GST 48,368.00 48,368.00
Instalment premium with GST @ 4.50% (1st year) 50,545.00 50,545.00
Instalment premium with GST @ 2.25% (2nd year onwards) 49,456.28 49,456.28
GST rate shall be as applicable from time to time.
Page 1
LIC's Jeevan Tarun (Plan No. 734)
(Amount in rupees)
Total benefits (including guaranteed and
non-guaranteed benefits)
Guaranteed benefits Non-guaranteed benefits @ 4% p.a. Non-guaranteed benefits @ 8% p.a.
Maturity benefit Death benefit5
Maturity Maturity Death Death
Annualize benefit, benefit, benefit, benefit,
Policy d incl. of incl. of incl. of incl. of
year (End premium 3
of the Total Total final final final final
(cumulati Guarante
Maturity Reversion guarantee
year) Special Surrender Reversion guarantee Special Surrender additional additional additional additional
ve) Survival ed Death d surrender benefit ary bonus d surrender benefit bonus bonus bonus bonus
benefit surrender benefit benefit ary bonus surrender value4 surrender value4 (FAB), if (FAB), if (FAB), if (FAB), if
value 4 4
value value any, @ any, @ any, @ any, @
4% 8% 4% 8%
(6+7+FAB (6+11+FA (5+7+FAB (5+11+FA
) B) ) B)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) (18)
1 48368 0 0 48368 0 5500 0 10656 10656 36300 0 10656 10656 0 0 48368 48368
2 96736 0 29021 96736 0 11000 29021 22875 29021 72600 29021 22875 29021 0 0 96736 96736
3 145104 0 50786 1375000 0 16500 53330 40764 53330 108900 67578 60464 67578 0 0 1391500 1483900
4 193472 0 96736 1375000 0 22000 100157 58466 100157 145200 119315 86728 119315 0 0 1397000 1520200
5 241840 0 120920 1375000 0 27500 125243 78644 125243 181500 149452 116667 149452 0 0 1402500 1556500
6 290208 0 145104 1375000 0 33000 150361 101541 150361 217800 179800 150643 179800 0 0 1408000 1592800
7 338576 0 169288 1375000 0 38500 175533 127548 175533 254100 210503 189231 210503 0 0 1413500 1629100
8 386944 0 200747 1375000 0 44000 208042 156849 208042 290400 248895 232715 248895 0 0 1419000 1665400
9 435312 0 233980 1375000 0 49500 242410 189959 242410 326700 289617 281851 289617 0 0 1424500 1701700
10 483680 0 269071 1375000 0 55000 278740 227133 278740 363000 332886 337027 337027 0 0 1430000 1738000
11 532048 0 305928 1375000 0 60500 316564 268830 316564 399300 376125 398929 398929 0 0 1435500 1774300
12 580416 0 344651 1375000 0 66000 356307 315483 356307 435600 421578 468202 468202 0 0 1441000 1810600
13 628784 0 385130 1375000 0 71500 397893 367733 397893 471900 469364 545791 545791 0 0 1446500 1846900
14 677152 0 427486 1375000 0 77000 441469 425978 441469 508200 519775 632307 632307 0 0 1452000 1883200
15 725520 0 471588 1375000 0 82500 486933 490954 490954 544500 572865 728837 728837 0 0 1457500 1925000
16 773888 0 517576 1375000 0 88000 534454 563477 563477 580800 628973 836587 836587 0 0 1463000 1961300
17 822256 0 565301 1375000 0 93500 583936 644051 644051 617100 688289 956326 956326 0 0 1468500 2003100
18 870624 0 614922 1375000 0 99000 635564 733700 733700 653400 751156 1089569 1089569 0 0 1474000 2044900
19 918992 0 666269 1375000 0 104500 689249 833437 833437 689700 817934 1237810 1237810 0 0 1479500 2086700
20 918992 0 683546 1375000 0 110000 709264 901054 901054 726000 853285 1359296 1359296 0 0 1485000 2128500
Page 2
LIC's Jeevan Tarun (Plan No. 734)
(Amount in rupees)
Total benefits (including guaranteed and
non-guaranteed benefits)
Guaranteed benefits Non-guaranteed benefits @ 4% p.a. Non-guaranteed benefits @ 8% p.a.
Maturity benefit Death benefit5
Maturity Maturity Death Death
Annualize benefit, benefit, benefit, benefit,
Policy d incl. of incl. of incl. of incl. of
year (End premium 3
of the Total Total final final final final
(cumulati Guarante
Maturity Reversion guarantee
year) Special Surrender Reversion guarantee Special Surrender additional additional additional additional
ve) Survival ed Death d surrender benefit ary bonus d surrender benefit bonus bonus bonus bonus
benefit surrender benefit benefit ary bonus surrender value4 surrender value4 (FAB), if (FAB), if (FAB), if (FAB), if
value 4 4
value value any, @ any, @ any, @ any, @
4% 8% 4% 8%
(6+7+FAB (6+11+FA (5+7+FAB (5+11+FA
) B) ) B)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) (18)
21 918992 0 700731 1375000 0 115500 729664 974236 974236 762300 891687 1492259 1492259 0 0 1490500 2170300
22 918992 0 718008 1375000 0 121000 750751 1053363 1053363 798600 934109 1637658 1637658 0 0 1496000 2223100
23 918992 0 827093 1375000 0 126500 865043 1139203 1139203 834900 1077563 1797023 1797023 0 0 1501500 2275900
24 918992 0 827093 1375000 1100000 132000 873293 1232000 1232000 871200 1132013 2053700 2053700 1232000 2053700 1507000 2328700
Notes:
The main objective of the illustration is that the client is able to appreciate the features of the products and the flow of the benefit in different circumstances with some level of
quantification.
This illustration is applicable to a standard (from medical, life style and occupation point of view) life.
1. If age at entry of the life assured is less than 8 years, the risk will commence after completion of 2 years from date of commencement of policy or completion of 8 years of
age, whichever is earlier. In case of death of the life assured before the commencement of risk, an amount equal to the total premium(s) paid excluding underwriting extra
premium, the premiums paid towards the riders, if any, and goods & service tax shall be payable.
2. It includes rider(s) premiums in respect of all the rider(s) opted by the proposer/policyholder at inception of the policy.
3. Annualized premium excludes underwriting extra premium, frequency loadings on premiums, the premiums paid towards the riders, if any, and goods & service tax. Refer
sales literature for explanation of terms used in this illustration.
4. Surrender value is higher of guaranteed surrender value (GSV) and special surrender value (SSV). SSV shall be reviewed in line with IRDAI Master Circular on Life
Insurance Products (Ref no.: IRDAI/ACTL/MSTCIR/MISC/89/6/2024 dated 12th June, 2024) and any subsequent circulars issued by IRDAI in this regard. For surrender
value calculation, it is assumed that the bonuses shall vest upon its declaration based on experience of the Corporation under this product, in the manner as per the terms
and conditions of annual valuation results.
5. In any case, the total death benefit during the policy term shall not be less than 105% of the total premiums paid (excluding GST, extra premium and rider premiums, if
any). However, in case of minor lives aged below 8 years, before date of commencement of risk, the death benefit shall be return of total premiums paid (excluding GST,
extra premium and rider premium, if any).
6. The actual allocation to policyholders, out of the surplus emerging from the actuarial investigation, shall be in accordance with provisions in this regard under LIC Act, 1956.
Page 3
LIC's Jeevan Tarun (Plan No. 734)
I, ________________________________________ (name), having received
I, ________________________________________ (name), have explained the information with respect to the above, have understood the above statement
the premiums and benefits under the product fully to the prospect/policyholder. before entering into the contract.
Place :
Place :
Date : Signature of agent/intermediary/official of the insurer Date : Signature of prospect/policyholder
Page 4
