LIC’s Yuva Term is a Non-Par, Non-Linked, Life, Individual, Pure Risk Plan, which provides financial protection to the insured’s family in case of his/her unfortunate death during the policy term.
This is a non-par product under which benefits payable on death are guaranteed and fixed irrespective of actual experience. Hence the
policy is not entitled to any discretionary benefits like bonus etc. or share in Surplus.
This Plan can be purchased Offline through Licensed agents, Corporate agents, Brokers and Insurance Marketing Firms
Yuva Term Plan Benefits
Death Benefit:
payable on death of the Life Assured during the policy term after the date of commencement of risk but before the date of maturity, provided the policy is inforce and claim is admissible shall be “Sum Assured on Death”.
Under Regular premium and Limited premium payment, “Sum Assured on Death” is defined as the highest of:
• 7 times of Annualised Premium; or
• 105% of “Total Premiums Paid” upto the date of death; or
• Absolute amount assured to be paid on death.
Key Features
• Flexibility to choose from two Death Benefit options: Level Sum Assured
and Increasing Sum Assured
• Flexibility to
o Choose from Single Premium, Regular Premium and Limited Premium
Payment
o Choose the Policy Term/Premium Paying Term
o Opt for payment of benefit in instalments.
• Special rates for women.
• Benefit of attractive High Sum Assured Rebate
Maturity Benefits
On survival of the life assured to the end of the policy term, no maturity benefit is payable
Guaranteed Additions:
In case of death under an in-force policy, the Guaranteed Addition in the year of death shall be for full policy year. If the premiums are not duly paid, the Guaranteed Additions shall cease to accrue under a policy.
In case of a paid-up policy or on surrender of a policy, the Guaranteed Addition for the policy year in which the last premium is received will be added on a proportionate basis in proportion to the premium received for that year.
Eligibility Conditions
a) Minimum Age at entry : [18] years (Last Birthday)
b) Maximum Age at entry : [45] years (Last Birthday)
c) Minimum Age at Maturity : [33] years (Last Birthday)
d) Maximum age at Maturity : [75] years (Last Birthday)
e) Minimum Basic Sum Assured: 50,00,000/-.
f) Maximum Basic Sum Assured: 5,00,00,000/-*
(*The Basic Sum Assured above 5,00,00,000 (Five Crore) may be considered on case to case basis in accordance with underwriting
decision as per the Board Approved Underwriting Policy subject to the decision of Reinsurer on acceptance/ Terms and Conditions for
acceptance of such case.)
The Basic Sum Assured shall be in multiples of amount specified below:
| Basic Sum Assured range | Sum Assured Multiple |
| From 50,00,000/- to 75,00,000/- | 1,00,000/- |
| Above 75,00,000/- to 1,50,00,000/- | 25,00,000/- |
| Above 1,50,00,000/- to 4,00,00,000/- | 50,00,000/- |
| Above 4,00,00,000/- | 1,00,00,000/- |