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LIC Yuva Term Plan is a newly launched term insurance plan that protects your family’s financial needs after your demise. It provides guaranteed, fixed death benefits and flexibility in premium payments and policy terms. The plan can be purchased only through the offline channels.
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LIC Yuva Term Insurance Plan is a non-participating, non-linked term insurance plan offered by the LIC of India. The plan is designed to provide financial security to the insured’s family in the event of their untimely death. It offers flexible premium payment options (single, regular, or limited), two death benefit options (Level or Increasing Sum Assured), and attractive rates based on smoking status. Coverage is available for a range of basic sums assured, with maturity benefits dependent on policy duration and terms. The plan provides guaranteed death benefits with no bonuses or surplus sharing and is accessible through various offline sales channels, including agents and brokers.
Term Plans
The plan provides flexible death benefit options such as Level or Increasing Sum Assured.
You can choose the Premium payment options including Single, Regular, or Limited Premium.
Special rates are available for women and non-smokers.
Discounts are offered for higher sums assured.
Death benefits can be received in installments if chosen.
| Parameters | Minimum | Maximum |
| Entry Age | 18 years | 45 years |
| Maturity Age | 33 years | 75 years |
| Sum Assured | Rs. 50 Lakhs | Rs. 5 Crores |
| Policy Term | 15 years | 40 years |
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Below are the benefits of the LIC Yuva Term plan (875) that the nominee will receive after the policyholder's unfortunate demise.
The nominee will receive the death benefit if the policyholder dies during the policy term. Under Regular Premium and Limited premium payment, “Sum Assured on Death” is defined as the highest of:
7 times the annualised premium,
105% of total premiums paid,
or the absolute amount assured
Under Single premium payment, “Sum Assured on Death” is defined as the higher of:
125% of Single Premium;
or • Absolute amount assured to be paid on death.
No maturity benefit is payable if the life assured survives to the end of the policy term.
Death benefits can be received in installments over 5, 10, or 15 years, with monthly, quarterly, half-yearly, or yearly payments available if the total claim amount meets the minimum installment requirements.
The sample illustrative premiums for both Option I (Level Sum Assured) and Option II (Increasing Sum Assured) for Basic Sum Assured of Rs 50 Lakh for Non-Smoker, Male, Standard lives under different Premium Payment options are as under:
Option I (Level Sum Assured):
| Age | Policy Term | Regular Annual Premium (in Rs.) | Annual Premium for Limited Premium Paying Term of 15 Years (in Rs.) | Annual Premium for Limited Premium Paying Term of 10 Years (in Rs.) | Single Premium (in Rs.) |
| 20 years | 20 years | 4,550 | 5,250 | 6,600 | 44.350 |
| 30 years | 20 years | 5,950 | 6,850 | 8,750 | 59,550 |
| 40 years | 20 years | 11,700 | 13,600 | 17,500 | 1,21,900 |
Option II (Increasing Sum Assured):
| Age | Policy Term | Regular Annual Premium (in Rs.) | Annual Premium for Limited Premium Paying Term of 15 Years (in Rs.) | Annual Premium for Limited Premium Paying Term of 10 Years (in Rs.) | Single Premium (in Rs.) |
| 20 years | 20 years | 5,850 | 6,750 | 8,550 | 58,400 |
| 30 years | 20 years | 8,250 | 9,600 | 12,250 | 84,950 |
| 40 years | 20 years | 17,850 | 20,850 | 26,850 | 1,88,950 |
Suicide within 12 Months: If the life assured commits suicide within 12 months from the date of commencement of risk or the date of policy revival (for Regular/Limited Premium Policies), or within 12 months from the commencement of risk (for Single Premium Policies), only 80% of the total premiums paid (excluding extra premiums, rider premiums, and taxes) will be refunded.
Note: You should also check the term insurance benefits if you are planning to purchase the term insurance plan.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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