LIC's Yuva Term
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LIC's Yuva Term Plan (Plan No. 875) is a non-linked, non-participating, pure term insurance plan introduced by the Life Insurance Corporation of India on August 6, 2024 . Designed to provide financial protection to the policyholder's family in case of untimely demise, this plan offers flexible options to cater to individual needs.
🔑 Key Features
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Plan Type: Non-linked, non-participating, individual pure risk term insurance.
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Death Benefit Options:
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Level Sum Assured: The sum assured remains constant throughout the policy term.
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Increasing Sum Assured: The sum assured remains equal to the Basic Sum Assured for the first five policy years. Thereafter, it increases by 10% of the Basic Sum Assured each year from the sixth policy year till the fifteenth policy year, reaching twice the Basic Sum Assured. From the sixteenth policy year onwards, the sum assured remains constant at twice the Basic Sum Assured .
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Premium Payment Options: Single Premium, Regular Premium, and Limited Premium Payment (10 or 15 years).
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Policy Term:
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15 to 40 years for Regular and Single Premium.
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20 to 40 years for Limited Premium Payment of 15 years .
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