LIC Yuva Term Plan 875
Online Pure Protection Term Insurance Calculator
LIC Yuva Term Plan 875 Overview
LIC Yuva Term Plan 875 is a non-linked, non-participating, individual, pure protection online term insurance plan replacing Plan 868. It offers high financial cover for the family at extremely low premium rates with smoker/non-smoker incentives.
Eligibility & Rules
- Entry Age: 18 to 45 Years
- Policy Term: 10 to 40 Years
- Minimum Sum Assured: ₹50,00,000
- Available Offline through Agents
Key Plan Benefits
- Death Benefit: Highest of 7 times Annualized Premium or 105% of Total Premiums Paid or Absolute amount assured to be paid on death.
- Maturity Benefit: Nil
Detailed Maturity Benefit
Nil. This is a pure risk protection term plan. No amount is payable on surviving the policy term.
Standard Policy Features
- Grace Period: 30 days for Yearly, Half-Yearly, and Quarterly premium payment modes, and 15 days for Monthly mode.
- Free Look Period: 30 days from the date of receipt of the policy document to review the terms and conditions.
- Loan & Surrender Facility: Not Applicable. Pure term plans do not offer maturity or surrender values.
- Tax Benefits: Premiums paid are eligible for tax deduction under Section 80C.
Example Calculation
| Parameter | Value |
|---|---|
| Sum Assured | ₹1,00,00,000 |
| Age / Term | 30 Years / 20 Years |
| Yearly Premium (Base) | ₹7,200 |
| Death Benefit | ₹1,00,00,000 |
Calculating…