You might be looking for a term plan that can secure your family’s financial future while giving you flexibility and special benefits. The LIC Yuva Term Plan is perfect for your needs, as it provides complete protection and peace of mind.
LIC Yuva Term Maturity Calculator
This plan is specially designed to help you manage unexpected situations and ensure that your loved ones stay financially secure. Before you make your decision, let me explain everything about this plan in simple terms.
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What is LIC’s Yuva Term Plan?
This is a Non-Par, Non-Linked, Pure Risk Plan that ensures your family gets a fixed amount if something unexpected happens to you. Here’s what makes this plan special:
- You can choose a high coverage amount to make sure your family stays financially strong and secure even in your absence.
- You can pick what works best for your family – either a fixed amount throughout (Level Sum Assured) or an amount that grows over time (Increasing Sum Assured).
- If you are a woman, you’ll get special rates that make the plan more affordable and accessible.
- You will pay less for the plan if you’re a non-smoker – it’s a nice way to save money while staying healthy.
- You don’t need to worry about payments as the plan offers different payment options that suit your income and comfort.
Eligibility Criteria
| Criteria | Details |
|---|---|
| Minimum Entry Age | 18 years (Last Birthday) |
| Maximum Entry Age | 45 years (Last Birthday) |
| Policy Term | 15 to 40 years |
| Maturity Age | 75 years (Last Birthday) |
| Minimum Sum Assured | ₹50,00,000 |
| Maximum Sum Assured | ₹5,00,00,000* |
| Premium Payment Modes | Yearly or Half-Yearly |
*Higher sums assured may be considered on a case-by-case basis, subject to underwriting decisions.
Key Features
1. Death Benefit
The plan offers two payout options:
- Option 1: Level Sum Assured
- The sum assured remains constant throughout the policy term.
- Option 2: Increasing Sum Assured
- The sum assured increases by 10% every year from the 6th to the 15th year, doubling by the 15th year. After that, it remains constant for the rest of the policy term.
Example for Option 2: For a ₹1 crore sum assured:
- Years 1–5: ₹1 crore.
- Year 6: ₹1.1 crore.
- Year 7: ₹1.2 crore.
- …
- Year 15 onwards: ₹2 crore.
You will find this plan quite helpful as it adjusts to your changing financial needs over time. The coverage keeps growing, so you won’t have to worry about having enough protection as your responsibilities increase.
2. Premium Payment Options
You can choose from:
- Single Premium: Pay once at the start.
- Regular Premium: Pay throughout the policy term.
- Limited Premium: Pay for a fixed period (10 or 15 years), after which no further payments are needed.
3. Special Benefits
- Special Rates for Non-Smokers: If you don’t smoke, you will pay less for your premiums – a nice reward for staying healthy.
- Better Rates for Women: Women get special discounted rates, making it easier to get the protection they need.
- Big Savings on Higher Coverage: When you choose a larger coverage amount, you get good discounts on your premiums, which helps you save money while getting more protection.
All these benefits work together to give you a plan that’s both affordable and adjusts to what you need.
Sample Premiums
Here’s an idea of what you will pay for a ₹50 lakh sum assured:
Option 1: Level Sum Assured
| Age | Policy Term | Regular Annual Premium (₹) | Limited (15 Years) (₹) | Limited (10 Years) (₹) | Single Premium (₹) |
|---|---|---|---|---|---|
| 20 | 15 years | 4,550 | 5,100 | 6,150 | 42,500 |
| 20 | 20 years | 4,550 | 5,250 | 6,600 | 44,350 |
| 20 | 25 years | 4,600 | 5,350 | 6,800 | 46,200 |
| 30 | 15 years | 5,850 | 6,400 | 7,900 | 56,750 |
| 30 | 20 years | 5,950 | 6,850 | 8,750 | 59,550 |
| 30 | 25 years | 6,100 | 7,200 | 9,200 | 62,600 |
| 40 | 15 years | 11,100 | 12,900 | 15,700 | 1,18,200 |
| 40 | 20 years | 11,700 | 13,600 | 17,500 | 1,21,900 |
| 40 | 25 years | 12,200 | 14,200 | 18,500 | 1,25,500 |
Option 2: Increasing Sum Assured
| Age | Policy Term | Regular Annual Premium (₹) | Limited (15 Years) (₹) | Limited (10 Years) (₹) | Single Premium (₹) |
|---|---|---|---|---|---|
| 20 | 15 years | 5,400 | 6,000 | 7,300 | 53,600 |
| 20 | 20 years | 5,850 | 6,750 | 8,550 | 58,400 |
| 20 | 25 years | 6,300 | 7,400 | 9,800 | 62,900 |
| 30 | 15 years | 7,800 | 8,800 | 11,200 | 78,300 |
| 30 | 20 years | 8,250 | 9,600 | 12,250 | 84,950 |
| 30 | 25 years | 8,900 | 10,500 | 13,400 | 89,400 |
| 40 | 15 years | 16,900 | 19,300 | 24,300 | 1,80,200 |
| 40 | 20 years | 17,850 | 20,850 | 26,850 | 1,88,950 |
| 40 | 25 years | 18,700 | 22,000 | 28,200 | 1,95,200 |
You will be happy to see how affordable and flexible the LIC Yuva Term Plan is, with options that work well for people of different ages and coverage periods.
Other Benefits and Options
1. Death Benefit in Instalments
You get to choose how your family receives the money – they can get it in smaller parts over 5, 10, or 15 years instead of all at once. You can pick whether they get these payments every month, every three months, every six months, or once a year, depending on what suits them best.
| Payment Mode | Minimum Instalment Amount |
|---|---|
| Monthly | ₹5,000 |
| Quarterly | ₹15,000 |
| Half-Yearly | ₹25,000 |
| Yearly | ₹50,000 |
This way of receiving money helps your family handle large amounts better and gives them a regular income they can count on. Your family can pick the payment schedule that matches their needs, making it easier to plan their expenses.
2. Grace Period
You don’t need to worry about missing premium payments either. The plan gives you a 30-day grace period to make your regular payments, so your coverage stays active even if you’re a bit late.
3. High Sum Assured Rebates
And here’s something that makes the plan even better – you get bigger discounts when you choose higher coverage. For instance, if your coverage is more than ₹1 crore, you can save up to 18% on your premiums. This makes it more affordable to get the larger coverage your family might need.
Exclusions
While we need to cover these important points from the policy, let’s explain them more gently and clearly:
- What Happens in Case of Suicide: The plan has a caring approach for families going through difficult times. If something unfortunate happens within the first year of starting or restarting the policy, your family will receive back 80% of the premiums you’ve paid.
- Understanding Your Coverage Period: This plan works differently from savings plans – it focuses purely on protecting your family. While you won’t get money back at the end of the policy period, you get strong financial protection for your family at a much lower cost.
Why Choose LIC’s Yuva Term Plan?
This plan suits your needs when:
- Your budget wants good protection at a low cost. The plan adjusts to what you can pay.
- The money matters should match your way of living. The plan lets you choose how and when to pay.
- Your family needs full financial safety. The plan keeps working for them even when you are not around.
The LIC Yuva Term Plan works best for young people like you. Your growing money needs to stay protected with this special safety plan.
Conclusion
The LIC Yuva Term Plan takes full care of your family’s money needs. The cost stays light on your pocket, but the protection remains strong.
This plan works well for young people like you. The best part is how it fits your budget – pay less but get more coverage. Your family stays financially safe with this trusted plan from LIC.
The plan makes everything easy for you – from payments to protection. Your loved ones deserve this special safety that LIC brings.
