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LIC’s Yuva Term is a non-participating, non-linked individual pure-risk life insurance plan designed to protect the insured’s family financially if the insured dies during the policy term and the claim is admissible. It is available through licensed agents, corporate agents, brokers and Insurance Marketing Firms. Applicants can choose between Level Sum Assured, where the absolute amount assured on death remains equal to the Basic Sum Assured, and Increasing Sum Assured, where the amount starts increasing after the fifth policy year. The plan offers single-premium, regular-premium and limited-premium options of 10 or 15 years. The standard Basic Sum Assured ranges from ₹50 lakh to ₹5 crore, with higher amounts potentially considered case by case under LIC underwriting and reinsurer acceptance.
Offline pure-term plan with Level or Increasing Sum Assured, flexible premium-payment options and death-benefit instalments.
Yuva Term may suit applicants who want a relatively high amount of pure life cover and prefer choosing how premiums are paid. Its principal strengths are the two death-benefit options, limited-payment choices, instalment-based death-benefit option, eligible high-sum-assured rebates and special rates for women. The brochure illustrates ₹4,550 per year for a 20-year-old male non-smoker with standard health, ₹50 lakh cover, a 20-year policy term, regular annual premiums and Level Sum Assured; taxes are extra. This is an illustrative rate, not a universal starting price. Premiums vary by age, gender, smoking status, cover, policy term, premium-payment term and death-benefit option. The official sales brochure does not list an optional rider for Yuva Term. There is no maturity benefit, paid-up value or policy loan, and surrender proceeds are restricted to the Unexpired Risk Premium Value, if any, under the policy conditions.
LIC
Key Insights
Founded
1956
LIC was established 70 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
95.8% CSR, calculated as a 3-year average
LIC settles 95.8% of all claims it receives, demonstrating strong credibility.
Contact Details
022-6827 6827
Headquarters: Jeevan Bima Marg, Nariman Point, P.O. Box No. 19953, Mumbai, Maharashtra 400021, India
The standard Basic Sum Assured ranges from ₹50 lakh to ₹5 crore.
Higher cover may be considered case by case, subject to LIC underwriting and reinsurer acceptance. Permitted sum-assured multiples vary by cover band.
Under this option, the absolute amount assured to be paid on death remains equal to the Basic Sum Assured throughout the policy term.
The final Sum Assured on Death also follows the policy’s applicable death-benefit calculation.
The absolute amount assured remains equal to the Basic Sum Assured through the fifth policy year. From policy year six through year 15, it increases by 10% of the Basic Sum Assured each year, reaching twice the Basic Sum Assured.
From policy year 16 onward, it remains at twice the Basic Sum Assured. The selected death-benefit option cannot be changed later.
For regular and limited premium policies, the Sum Assured on Death is the highest of 7 times the annualised premium, 105% of total premiums paid up to death, or the absolute amount assured to be paid on death.
Premium calculations exclude applicable taxes, rider premiums and other amounts as defined in the policy wording.
For a single-premium policy, the Sum Assured on Death is the higher of 125% of the single premium or the absolute amount assured to be paid on death.
The single premium used in this calculation excludes taxes and other amounts specified in the policy terms.
Conditions or treatments that the policy clearly says it will not cover.
Insurer
LIC plans and claim process
LIC’s Yuva Term is a non-participating, non-linked individual pure-risk life insurance plan that provides an admissible death benefit during the policy term.
The minimum Basic Sum Assured is ₹50 lakh.
The standard maximum Basic Sum Assured is ₹5 crore. Higher amounts may be considered case by case, subject to LIC underwriting and reinsurer acceptance.
Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official LIC website before purchasing.
Official Website
licindia.in
Visit the official LIC website for plan brochures, premium quotes and policy services.
The aforementioned ratios have been averaged over three years (FY24-FY26)
The minimum entry age is 18 years and the maximum entry age is 45 years, measured at the last birthday.
The minimum maturity age is 33 years and the maximum maturity age is 75 years. The permitted term also depends on the selected death-benefit option and other policy-term restrictions.
LIC’s official brochure illustrates an annual regular premium of ₹4,550 for a 20-year-old male non-smoker with standard health, ₹50 lakh cover, a 20-year policy term and the Level Sum Assured option. Taxes are extra. This is an illustrative rate, not a universal quote.
The plan offers single premium, regular premium and limited premium payment for 10 or 15 years. Regular and limited premiums can be paid yearly or half-yearly.
Under Level Sum Assured, the absolute amount assured on death stays equal to the Basic Sum Assured. Under Increasing Sum Assured, it stays at the Basic Sum Assured through policy year five, increases by 10% of the Basic Sum Assured each year from year six to year 15, and remains twice the Basic Sum Assured from year 16 onward.
For regular and limited premium policies, the Sum Assured on Death is the highest of 7 times the annualised premium, 105% of total premiums paid up to death, or the absolute amount assured on death. For a single-premium policy, it is the higher of 125% of the single premium or the absolute amount assured on death.
Yes. The policyholder can choose instalments over 5, 10 or 15 years for all or part of the eligible death benefit. Payment may be yearly, half-yearly, quarterly or monthly, subject to minimum instalment amounts and policy conditions.
The official Yuva Term sales brochure reviewed for this plan does not list an optional rider. A rider available with another LIC policy should not be assumed to apply to Yuva Term.
No. This is a pure-risk term plan, and no maturity benefit is payable if the insured survives to the end of the policy term.
Regular and limited premium policies have a 30-day grace period for yearly or half-yearly premiums. If the premium is not paid before the grace period expires, the policy lapses.
A lapsed regular- or limited-premium policy may be revived within five consecutive complete years from the first unpaid premium and before maturity. Revival requires outstanding premiums and applicable interest to be paid and is subject to LIC’s underwriting decision.
No policy loan is available. No standard surrender value is available, although an Unexpired Risk Premium Value, if any, may be payable in specified single-premium and limited-premium situations. Regular-premium policies do not receive a surrender value.
Yes. Eligible policies may receive high-sum-assured rebates, and special rates are available for women. The actual rebate depends on age, Basic Sum Assured, death-benefit option and premium-payment type.