LIC Jeevan Tarun 934 is the 2020 version of LIC's children's money back plan, launched on 1 February 2020 and since replaced by Plan 734. Premiums run until the child is 20, optional payouts come at 20–24 and the balance with bonus at 25. For a 2-year-old with ₹5 lakh cover under Option 2, our estimate is ₹26,145 a year and about ₹10.17 lakh in total benefits.
Jeevan Tarun 934 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 934?
LIC Jeevan Tarun (Plan 934) is a participating, limited premium money back plan for children. LIC launched it on 1 February 2020 to replace Jeevan Tarun 834, and it was later succeeded by Jeevan Tarun 734 in LIC’s late-2024 product revamp. It is no longer on sale, but existing policies continue unchanged.
The plan’s timeline is fixed by the child’s age: premiums until 20, optional payouts from 20 to 24, and maturity at 25.
Jeevan Tarun 934 at a glance
| Feature | Details |
|---|---|
| Plan number | 934 |
| Plan type | Non-linked, participating, limited premium child money back |
| Child’s entry age | 90 days to 12 years |
| Maturity age | 25 years |
| Policy term / premium term | 25 minus entry age / 20 minus entry age |
| Minimum sum assured | ₹75,000 |
| Premium modes | Yearly, half-yearly, quarterly, monthly |
| Survival benefit options | 0%, 5%, 10% or 15% of sum assured a year at 20–24 |
| Bonus | Simple reversionary bonus + final additional bonus |
| Launched | 1 February 2020 |
| Status | Withdrawn, replaced by Plan 734 |
Survival benefit options
| Option | Each year at 20–24 | At 25 |
|---|---|---|
| 1 | Nil | 100% of sum assured + bonuses |
| 2 | 5% | 75% + bonuses |
| 3 | 10% | 50% + bonuses |
| 4 | 15% | 25% + bonuses |
Bonus is always worked out on the full basic sum assured, whichever option you picked.
Premium and benefit examples
The premium depends on the child’s entry age, option and sum assured. The calculator uses a Jeevan Tarun rate grid by age and option, so treat its numbers as estimates; your policy bond shows the exact premium. No GST is added, as individual life insurance premiums are GST-exempt from 22 September 2025. Receipts from before that date show 4.5% GST in the first year and 2.25% after.
Example 1: a child aged 2, ₹5 lakh sum assured, Option 2, yearly.
- Premium: about ₹26,145 a year for 18 years (₹4,70,610 in total)
- Survival benefit: ₹25,000 a year at ages 20 to 24
- Maturity at 25: about ₹8,92,500, including ₹5,17,500 bonus at an assumed ₹45
- Total benefits: about ₹10,17,500
Example 2: a child aged 10, ₹2 lakh sum assured, Option 1, monthly. The estimate is ₹1,453 a month (₹16,696 a year) for 10 years, and a maturity of about ₹3,35,000 at 25.
Tip: the payout table below the calculator lists each amount by the child’s age. Note those dates alongside expected college fees so you know which costs the policy will cover.
Death benefit
If the child dies during the term, the nominee gets the higher of 125% of the basic sum assured or 7 times the annualised premium, plus accrued bonuses. The payout is never less than 105% of premiums paid. For children who joined very young, check the risk commencement date in the policy: before it, the claim is a refund of premiums.
Loan, surrender and tax
A policy loan is available once there is a surrender value. Surrendering early usually returns much less than you paid, so check the figure first with our surrender value calculator. Premiums are deductible under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime). Survival benefits and maturity are generally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) when premiums stay within the prescribed limits.
How 934 compares with 834 and 734
- vs 834: same design and options. Plan 934 updated premium rates and some benefit rules to fit IRDAI’s 2019 product regulations.
- vs 734: Plan 734 raised the minimum sum assured to ₹2 lakh, allows entry from 30 days of age and carries fresh premium rates.
Existing 934 policyholders do not need to switch. For planning a new policy for another child, use the Jeevan Tarun calculator.
How to use this calculator
Enter the child’s entry age, sum assured and option from your policy and choose the premium mode. The calculator shows the yearly and instalment premium, the premium term, total premiums, each survival benefit, the maturity estimate, bonus and death benefit. All values are approximate.
Frequently asked questions
Can I still buy LIC Jeevan Tarun 934?
No. Plan 934 was replaced by Jeevan Tarun 734 when LIC revamped its traditional plans in late 2024. Policies issued under 934 remain valid, and all survival benefits, bonuses and the maturity amount are paid as promised.
When was Jeevan Tarun 934 launched?
LIC launched Plan 934 on 1 February 2020 as the replacement for the original Jeevan Tarun 834, following the updated IRDAI product rules. The structure of maturity at 25 and four payout options stayed the same.
How much will Jeevan Tarun 934 pay at maturity?
At 25 the plan pays the remaining sum assured (100%, 75%, 50% or 25% by option) plus all bonuses. For ₹5 lakh cover taken at age 2 under Option 2, with an assumed ₹45 bonus, that is about ₹8,92,500, after ₹25,000 a year paid from 20 to 24.
What is the death benefit in Jeevan Tarun 934?
The nominee gets the higher of 125% of the basic sum assured or 7 times the annualised premium, plus accrued bonuses, and never less than 105% of premiums paid. Earlier survival benefits are not deducted from the claim.
Is there a loan facility in Jeevan Tarun 934?
Yes. Once the policy acquires a surrender value, you can borrow against it. This is generally a better way to meet a short-term need than surrendering a child plan early.
What is the difference between Jeevan Tarun 934 and 734?
Both mature at 25 with the same four survival benefit options. Plan 734 has revised premium rates, a higher minimum sum assured of ₹2 lakh (against ₹75,000) and allows entry from 30 days of age rather than 90 days.
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.