New Delhi. Life Insurance Corporation of India (LIC) has launched 4 new insurance plans simultaneously. These plans are available both offline and online from August 5, 2024. The plans will be available in the name of LIC Yuva Term, LIC Digi Term, LIC Yuva Credit Life and LIC Digi Credit Life.
LIC CEO and MD Siddharth Mohanty launched these 4 plans. LIC’s Yuva Term Plan is available offline, while LIC’s Digi Term is available online only through LIC’s website. The purpose of these products is to meet the needs of the youth who want to take term insurance at an early stage of life. Also, the option to buy them offline or online is to be provided.
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LIC Yuva Credit Life Plan to cover loan liabilities
LIC has also introduced a product to cover loan liabilities through term insurance. LIC Yuva Credit Life is available in offline mode through its intermediaries. LIC’s Digi Credit Life is available online only. Today people are using the loan facility available for many of their needs, so LIC has introduced term insurance plans to cover loan liabilities like housing/education/vehicle etc., so that the policyholder’s family can be given protection against loan repayment.
Yuva Term and Digi Term Plans
LIC’s Yuva Term/Digi Term is a non-par, non-linked, life, individual, pure risk plan that provides financial protection to the family of the policyholder in case of his/her death during the policy term. It is a non-par product under which the benefit payable on death is guaranteed.
