LIC Yuva Term Plan 875 - Policy Details
Overview
LIC Yuva Term Plan 875 is a pure term insurance plan specifically designed for young individuals, providing high life coverage at affordable premiums. It offers financial protection to the family in case of the policyholder's untimely death.
Key Features
- Pure protection term insurance plan
- High sum assured at low premium
- Option to increase cover at specified durations
- Flexible premium payment options
- Tax benefits under Section 80C and 10(10D)
Eligibility Criteria
| Parameter | Details |
|---|---|
| Minimum Entry Age | 18 years |
| Maximum Entry Age | 35 years |
| Maximum Maturity Age | 65 years |
| Policy Term | 10 to 40 years |
| Minimum Sum Assured | ₹25 Lakhs |
| Maximum Sum Assured | No upper limit (subject to underwriting) |
Coverage Details
Death Benefit
In case of unfortunate death of the policyholder during the policy term, the Sum Assured is paid to the nominee.
Optional Rider Benefits
- Accidental Death and Disability Benefit Rider
- Critical Illness Benefit Rider
- Premium Waiver Benefit Rider
Premium Payment Options
- Regular Pay (pay premiums throughout policy term)
- Limited Pay (pay premiums for limited years)
- Single Pay (one-time premium payment)
Example Case
| Parameter | Example |
|---|---|
| Age at Entry | 25 years |
| Policy Term | 30 years |
| Sum Assured | ₹50 Lakhs |
| Premium Payment Term | 30 years (Regular Pay) |
| Approx. Annual Premium | ₹8,500 (may vary based on health and lifestyle) |
Tax Benefits
- Premiums qualify for deduction under Section 80C
- Death benefit is tax-free under Section 10(10D)
Why Choose This Plan?
- High life cover at young age when premium is lowest
- Flexibility to increase coverage at life stages like marriage or parenthood
- Pure risk cover without investment component
- Backed by LIC's claim settlement reputation
Note: Premiums and benefits may vary based on individual factors. Please consult LIC agent for exact premium calculations.
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