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LIC Yuva Credit Life

The LIC Yuva Credit Life plan is a newly launched term insurance plan designed for young individuals. It offers financial protection against unforeseen events and helps manage outstanding loans or debts after the policyholder's death. The plan provides a lump sum benefit and ensures financial stability for the family.

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LIC Yuva Credit Life- An Overview

LIC’s Yuva Credit Life-877 is a non-participating, non-linked term insurance plan offered by the LIC of India. The plan is designed to safeguard against outstanding loans. It provides a death benefit that is decreased over the policy term and aligns with the repayment schedule of the loan. The policyholder selects the Basic Sum Assured, policy term, and an interest rate from options ranging between 6%, 7%,8%, 9%, 10%, 11% & 12%. As outlined in the Risk Cover Schedule, the death benefit adjusts annually and may not always match the exact outstanding loan amount. This plan, available through licensed agents and brokers, ensures financial protection for the policyholder's family during their death, covering any remaining loan liabilities.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

Key Features of LIC Yuva Credit Life

Offers Single Premium and Limited Premium Payment options.
Flexible Policy Term and Premium Paying Term choices.
Special rates available for women.
Attractive High Sum Assured Rebate.
Distinct premium rates for non-smokers and smokers, based on urinary cotinine test.

Eligibility Criteria of LIC Yuva Credit Life-877

Parameters	Minimum	Maximum
Entry Age	18 years	45 years
Maturity Age	23 years	75 years
Sum Assured	Rs. 50 Lakhs	Rs. 5 Crores

Benefits of LIC Yuva Credit Life

Death Benefit: The death benefit is payable if the insured dies during the policy term after the commencement of risk but before the policy matures.

For a Limited Premium Payment policy, the death benefit is the higher of either 105% of the total premiums paid up to the date of death or the absolute amount assured to be paid on death.

For a Single Premium policy, the death benefit equals the absolute amount assured to be paid on death. This amount is detailed in the Risk Cover Schedule, which adjusts annually based on the chosen interest rate. The death benefit may be higher or lower than the outstanding loan amount.
Maturity Benefit: This plan does not pay a maturity benefit if the life assured survives until the end of the policy term. This design aligns with the plan’s focus on providing coverage against loan repayment rather than accumulating benefits over time.
Options for Early Repayment of Loan: If the insured repays the loan before the policy term ends, they have two options:
- Surrender the Insurance Cover: The policyholder can cancel the policy and receive an amount equal to the Unexpired Risk Premium Value, if any.
- Continue the Policy: The policy can remain in force until the end of its term. If the insured dies during this period, the death benefit will be paid according to the Risk Cover Schedule. This flexibility allows policyholders to choose between discontinuing coverage or maintaining it until the policy term concludes.

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Sample Premium Illustration of LIC Yuva Credit Life Plan

The sample illustrative premiums for Male, Non-Smoker, Policy Term 25 years, Basic Sum Assured of Rs.50 Lakh for loan interest rate 8% are as under

Age	Single Premium (in Rs.)	Annual Premium for Limited Premium Paying Term of 5 Years (in Rs.)	Annual Premium for Limited Premium Paying Term of 10 Years (in Rs.)	Annual Premium for Limited Premium Paying Term of 15 Years (in Rs.)
20 years	40.900	10,100	6,100	4,850
30 years	53,550	13,150	7,900	6,200
40 years	1,03,450	25,100	14,900	11,650

How to Buy LIC Plans from Policybazaar?

Take a look below to understand the buying process of LIC Plans:

Step 1: Visit the Policybazaar homepage

Step 2: Select LIC Plans

Step 3: Fill in the form with your name and contact number, and click on View Plans

Step 4: After this, on the next page, fill in your age, current city and annual income

Step 5: Once done, you can check the plans available and customize the amount and policy tenure for your investments

Step 6: Choose the plan and pay your premiums online.

Note: Policybazaar also provides door-to-door advisors to resolve your queries.

Note: You should also check the term insurance benefits if you are planning to purchase the term insurance plan.

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FAQs

Q: What is LIC Yuva Credit Life?

Ans: LIC Yuva Credit Life is a newly launched LIC policy designed to provide financial security against outstanding loans in case of the policyholder’s death.
Q: Is there a loan facility available under LIC Yuva Credit Life Policy?

Ans: Loan facilities are not available under the LIC Yuva Credit Life 877 policy, which is designed to cover outstanding loans in the event of death.
Q: What benefits does the policy offer?

Ans: The policy pays off the outstanding loan amount in case of the policyholder’s death, relieving the burden on the family and ensuring the loan is settled.

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

+On the basis of your profile

+Rs. 410/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10

+Rs. 410/month (Rs.14/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age rounded off to nearest 10

+Rs. 245 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10

+Rs. 15/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10

+Rs. 504/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 494/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 636/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 918/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,286/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 453/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.582/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 786/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,592/month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 525/month is the starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 68 years of age.

+Rs. 668/month is starting price for a 2 crore term life insurance for an 25 year-old male, non-smoker, with no pre-existing diseases, cover upto 45 years of age.

+Rs. 1,200/month is starting price for a 2 crore term life insurance for an 35 year-old male, non-smoker, with no pre-existing diseases, cover upto 55 years of age.

+Rs. 410/month is starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 577/month is starting price for a 1 crore term life insurance for an 18 year-old Male, self employed, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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