LIC Jeevan Tarun 834 (UIN 512N299V01) is the original version of LIC's children's money back plan, withdrawn from 1 February 2020. Premiums stop when the child turns 20, the plan can pay 5–15% of the sum assured each year from 20 to 24, and the balance plus bonus comes at 25. For a 3-year-old with ₹3 lakh cover under Option 1, our estimate is ₹16,305 a year.
Jeevan Tarun 834 Premium & Maturity Calculator
Your estimate
- Premium per instalment
- ₹30,510
- Premium paying term
- 15 years
- Policy term
- 20 years
- Total premium paid
- ₹4,57,650
- Estimated maturity amountat age 25, plus final additional bonus if declared
- ₹9,50,000
- Total bonus (estimated)
- ₹4,50,000
- Sum assured on deathplus accrued bonus; never below 105% of premiums paid
- ₹6,25,000
- Total premium paid₹4,57,65048%
- Net gain₹4,92,35052%
Payout schedule by child’s age
| Child’s age | Policy year | Survival benefits (money back) | Estimated maturity amount |
|---|---|---|---|
| 25 | 20 | — | ₹9,50,000 |
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC Jeevan Tarun Plan 834?
LIC Jeevan Tarun (Plan 834, UIN 512N299V01) is the first version of LIC’s participating money back plan for children. It pays out around the child’s college years and finishes at age 25. It was sold until 31 January 2020 and withdrawn from 1 February 2020, when Jeevan Tarun 934 took its place. Today’s version is Jeevan Tarun 734.
This page is for families who already hold an 834 policy. The calculator shows roughly what you are paying, when money comes back and what the maturity might be.
Jeevan Tarun 834 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 834 / 512N299V01 |
| Child’s entry age | 90 days to 12 years |
| Maturity age | 25 years |
| Policy term | 25 minus entry age |
| Premium paying term | 20 minus entry age |
| Minimum sum assured | ₹75,000 (no maximum) |
| Survival benefit options | 0%, 5%, 10% or 15% a year at ages 20–24 |
| Bonus | Simple reversionary bonus + final additional bonus |
| Rider | Premium Waiver Benefit (optional) |
| Status | Withdrawn from 1 February 2020 |
Survival benefit options
| Option | Each year at 20–24 | At 25 |
|---|---|---|
| 1 | Nil | 100% of sum assured + bonuses |
| 2 | 5% of sum assured | 75% + bonuses |
| 3 | 10% of sum assured | 50% + bonuses |
| 4 | 15% of sum assured | 25% + bonuses |
The option is fixed at the start and printed on your policy bond.
Premium and maturity examples
The premium depends on the child’s age at entry, the option and the sum assured. It stays level until the child turns 20. The calculator uses a Jeevan Tarun rate grid by age and option, so its figures are estimates; your actual premium is on the policy bond. No GST is added: individual life insurance premiums are GST-exempt from 22 September 2025 (before that, 4.5% applied in the first year and 2.25% after).
Example 1: a child aged 3 at entry, ₹3 lakh sum assured, Option 1, yearly.
- Premium: about ₹16,305 a year for 17 years (₹2,77,185 in total)
- Bonus at an assumed ₹45 per ₹1,000 for 22 years: ₹2,97,000
- Maturity at 25: about ₹5,97,000, plus any final additional bonus
Example 2: a child aged 8, ₹5 lakh sum assured, Option 4, half-yearly with the waiver rider. The estimate is ₹20,246 every six months (₹40,012 a year) for 12 years. The child receives ₹75,000 a year from age 20 to 24 and about ₹5,07,500 at 25, a total of ₹8,82,500.
Tip: compare the bonus figure in the calculator with your latest LIC bonus statement. If the credited bonus runs lower, reduce the bonus rate so your maturity estimate stays realistic.
Death benefit
If the child dies during the term, the nominee receives the sum assured on death (at least 125% of the basic sum assured) plus accrued bonuses, and never less than 105% of premiums paid. For children who joined very young, full cover began on the risk commencement date in the policy; before that, the claim is a refund of premiums.
Loan, surrender and tax
A loan is available once the policy has a surrender value, and it is usually a better way to raise cash than surrendering. For a rough exit value, see our surrender value calculator. Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime). Money back and maturity payouts are generally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) when the premium is within the limits that applied when the policy was issued.
Jeevan Tarun 834 vs 934 and 734
The core design never changed: maturity at 25, premiums until 20 and the same four options. The later versions mainly revised premium rates and some rules. Plan 734 raised the minimum sum assured to ₹2 lakh and allows entry from 30 days of age. If you hold an 834 policy, there is no reason to switch; keep paying and let the bonuses build up.
How to use this calculator
Enter the child’s entry age, sum assured and option from your policy, pick your premium mode and set the rider. The results give the premium, the premium term, total premiums, each money back amount, the maturity estimate and the death benefit. To plan a new child policy, use our Jeevan Tarun calculator.
Frequently asked questions
Is LIC Jeevan Tarun 834 still sold?
No. Plan 834 was withdrawn from 1 February 2020 and replaced by Jeevan Tarun 934, which has in turn been replaced by Plan 734. Existing 834 policies continue with all benefits until the child turns 25.
When will my Jeevan Tarun 834 policy pay out?
Under Option 1, everything is paid at age 25. Under Options 2, 3 and 4, you receive 5%, 10% or 15% of the sum assured on each policy anniversary when the child is 20, 21, 22, 23 and 24, and the rest of the sum assured plus bonuses at 25.
How much bonus will I get on Jeevan Tarun 834?
Bonus depends on the rates LIC declares each year. As an illustration, ₹45 per ₹1,000 sum assured for 22 years on a ₹3 lakh policy adds ₹2,97,000. Your yearly bonus statement shows the exact amount credited so far.
What happens if the child dies during the policy term?
The nominee receives the sum assured on death, which is at least 125% of the basic sum assured, plus accrued bonuses. The amount is never less than 105% of premiums paid. Money back instalments already paid are not deducted.
What does the Premium Waiver Benefit rider do in Plan 834?
If the proposer, usually a parent, dies during the premium term, LIC waives all remaining premiums and the policy continues as if they were paid. The child still gets every survival benefit and the maturity amount.
Should I surrender my Jeevan Tarun 834 policy?
Usually not. Most of the value in a with-profit child plan comes in the later years through bonuses. If you need cash, a policy loan against the surrender value is often a better option than surrendering.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.