Quote Originally Posted by nishaneelesh View Post
When this paidup amount will be paid to me with bonus if any in three years paid time?
Paid-up value is your new sum insured and it will remain as your sum insured for term of your policy (i.e. 20 years in your case)

As we get only bonus amount and don't get the sum assured amount after maturity in Jeevan Tarang policy on the normal case. Only 5.5% given every year later so what will happen if it becomes paid-up after three years?
Check with LIC customer care.

Will it allow me the pay the premium in later years? Like.. I paid the premium till three years and it became as paid-up the after couple of years, want to start paying again.
Yes, you can reinstate your LIC policy, later on.