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LIC has launched four new term insurance plans - LIC’s Yuva Term (Plan 875), LIC’s Digi Term (Plan 876), LIC’s Yuva Credit Life (Plan 877) and LIC’s Digi Credit Life (Plan 878).
All these policies are pure term plans. While LIC’s Yuva Term (Plan 875), LIC’s Digi Term (Plan 876) are pure term life policies, LIC’s Yuva Credit Life (Plan 877) and LIC’s Digi Credit Life (Plan 878) aim to cover debt burden of the policyholders.
Young individuals up to 45 years of age can buy both the Yuva policies through intermediaries. Digi plans can only be bought directly through the LIC website.
Here are some features of these policies:
LIC’s Yuva Term / Digi Term
- Single premium death benefit of 125% of the premium or the absolute sum assured
- Entry age is between 18 and 45 years where as maturity is in the range of 23-75 years
- Sum assured ranges from Rs.50 lakh to Rs.50 crore
- Lower premium rates for women
LIC’s Yuva Credit Life/ Digi Credit Life
- The sum insured decreased with policy term in line with debt
- Entry age is between 18 and 45 years where as maturity is in the range of 23-75 years
- Sum assured ranges Rs.50 lakh to Rs.50 crore
- Lower premium rates for women
