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LIC Yuva Term Plan Calculator is an online tool designed to help prospective policyholders understand the premium, coverage, and benefits associated with the policy. The calculator estimates the premiums payable, and the maturity amount the policyholder will receive and helps them plan their financial future.
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The LIC Yuva Term Plan is a pure term insurance policy for young adults, typically aged 18 to 45. The plan offers substantial life cover at affordable premiums, making it a cost-effective option for young earners. The primary objective of the LIC Yuva Term Plan is to provide financial protection to the policyholder's family in the event of their untimely demise.
Term Plans
Affordable Premiums: Since it targets young adults, the premiums are typically lower than traditional term plans.
High Sum Assured: This plan provides a substantial sum assured to offer financial security to the policyholder's family.
Flexible Tenure: Policyholders can choose the policy term based on their requirements.
Tax Benefits: Premiums paid under the plan are eligible for tax deductions under Section 80C of the Income Tax Act, 1961.
The LIC Yuva Term Plan Calculator is an online tool that estimates the premiums prospective policyholders would need to pay for a chosen sum assured and policy tenure. This calculator helps young buyers plan their budget by giving them a clear picture of the monthly or annual commitment required for life insurance coverage.
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Quick Premium Estimation: By entering a few basic details like age, sum assured, and policy tenure, the calculator instantly provides an estimated premium amount.
Flexible Options: The calculator allows users to adjust the sum assured and tenure to find the best-fit premium for their budget.
Informed Decision-Making: The calculator enables prospective buyers to make informed decisions by showing how different parameters affect the premium.
Using the LIC Yuva Term Plan Calculator is simple and user-friendly. Here’s a step-by-step guide:
Step 1: Visit LIC of India
Step 2: Enter Age and Gender, and choose the coverage amount you want.
Step 3: Set the duration for which you want coverage. Longer tenures usually lead to higher cumulative premiums but ensure long-term security.
Step 4: The LIC Yuva Term Plan offers optional riders, such as accidental death and disability benefits. Adding riders can increase the premium slightly, but they enhance the scope of coverage.
Step 5: Click the “Calculate” button to get an instant estimate of the premium based on the information provided.
The calculator will display the premium amount based on your inputs, giving you a realistic view of the financial commitment required for the policy.
For young adults, the LIC Yuva Term Plan has multiple advantages that make it a viable choice:
Financial Security for Family: The high sum assured ensures that the policyholder’s family will not face financial difficulties if the unexpected happens.
Affordable Premiums: The younger you are, the lower your premium. This makes it easy for young people just starting their careers to afford a robust life insurance plan.
Flexibility: The plan allows policyholders to tailor coverage to their needs by choosing the sum assured and tenure.
No Maturity Benefit: Since it’s a pure term plan, there is no maturity benefit, but this means the focus is purely on protection, keeping premiums low.
The LIC Yuva Term Plan Calculator is an effective tool for young individuals to understand the cost of life insurance protection. It brings transparency to the insurance planning process by helping users estimate their premiums and adjust their plans as needed. With its high coverage at affordable rates, the Yuva Term Plan is an excellent choice for young adults looking to secure their financial future. Whether a fresh graduate or a young professional, investing in a term plan early ensures you are prepared for life’s uncertainties, providing peace of mind for you and your loved ones.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
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
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
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