On August 5, 2024, the Life Insurance Corporation (LIC) of India unveiled four new insurance plans: LIC’s Yuva Term (Plan 875), Digi Term (Plan 876), Yuva Credit Life (Plan 877), and Digi Credit Life (Plan 878). Announced by CEO & MD Shri Siddhartha Mohanty, these plans aim to provide financial protection and loan repayment safety nets for young individuals. LIC’s Yuva Term and Yuva Credit Life are available offline, while Digi Term and Digi Credit Life can be purchased online. The term insurance plans offer a minimum sum assured of Rs. 50,00,000 and a maximum of Rs. 5,00,00,000, with special lower premium rates for women. The Yuva Credit Life plans feature decreasing term assurance, ensuring the death benefit reduces over the policy term. These products cater to individuals seeking early-stage life insurance and secure loan repayment solutions.
