LIC Yuva Term Plan Calculator

What is the LIC Yuva Term Plan?

The LIC Yuva Term Plan is a pure term insurance policy for young adults, aged 18 to 45. The plan offers substantial life cover at affordable premiums, making it a cost-effective option for young earners. The primary objective of the LIC Yuva Term Plan is to provide financial protection to the policyholder's family in the event of their untimely demise.

What is the LIC Yuva Term Plan Calculator?

The LIC Yuva Term Plan Calculator is an online tool by LIC of India that estimates the premiums prospective policyholders would need to pay for a chosen sum assured and policy tenure. This LIC term insurance calculator helps young buyers plan their budget by giving them a clear picture of the monthly or annual commitment required for life insurance coverage.

Benefits of using the LIC Yuva Term Plan Calculator:

• Quick Premium Estimation: By entering a few basic details like age, sum assured, and policy tenure, the LIC Yuva term plan 875 premium calculator instantly provides an estimated premium amount.

• Flexible Options: The calculator allows users to adjust the sum assured and tenure to find the best-fit premium for their budget.

• Informed Decision-Making: The calculator enables prospective buyers to make informed decisions by showing how different parameters affect the premium.

• Easy Comparison: Compare different coverage options and premium amounts to choose the best fit for your financial goals.

• Time-Saving: Skip the need for in-person visits and calculate everything online in minutes.

• Free of Cost: The calculator is available online at no cost and can be used multiple times.

How to Use the LIC Yuva Term Plan Premium Calculator?

Using the LIC Yuva Term Plan Premium Calculator is simple and user-friendly. Here’s a step-by-step guide:

Step 1: Visit the official website of LIC

Step 2: Scroll down to the “How Much You Need” Section and click on “Calculate Premium.

Step 3: Enter your age, name, DOB, gender, etc and click on “Next”. Choose “Quick Quotes”

Step 4: Choose LIC Yuva Term Plan from the options and click on “Coverage”.

Step 5: Provide plan details like Sum Assured amount, Sum assured on death option, smoking category, premium paying type, premium paying term, and then click “Quote”.

The LIC term insurance premium calculator will display the premium amount based on your inputs, giving you a realistic view of the financial commitment required for the policy. This LIC term plan calculator works similarly to any other LIC Calculator. It adjusts as per the chosen plan.

Benefits of LIC Yuva Term Plan for Young Adults

For young adults, the LIC Yuva Term Plan has multiple advantages that make it a viable choice:

• Financial Security for Family: The high sum assured ensures that the policyholder’s family will not face financial difficulties if the unexpected happens.

• Instalment Option: This option allows the nominees to receive the death benefit in instalments as under:

  Mode of Instalment payment	Minimum Instalment amount (Rs)
  Monthly	5,000/-
  Quarterly	15,000/-
  Half-Yearly	25,000/-
  Yearly	50,000/-

• Affordable Premiums: The younger you are, the lower your premium. This makes it easy for young people just starting their careers to afford a robust life insurance plan.

• Payout Options: The plan offers 2 payout (death benefit) options to choose from:
  Option I: Level Sum Assured (Fixed Basic Sum Assured throughout the policy term)
  Option II: Increasing Sum Assured (Increases 10% yearly from year 6 to 15, max 2× Basic Sum Assured).

• Flexibility: The plan allows policyholders to tailor coverage to their needs by choosing the sum assured and tenure.

Wrapping It Up:

The LIC Yuva Term Plan Calculator is an effective tool for young individuals to understand the cost of life insurance protection. It brings transparency to the insurance planning process by helping users estimate their premiums and adjust their plans as needed. With its high coverage at affordable rates, the Yuva Term Plan is an excellent choice for young adults looking to secure their financial future. Whether a fresh graduate or a young professional, investing in a term plan early ensures you are prepared for life’s uncertainties, providing peace of mind for you and your loved ones.

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