Excelsior Correspondent
JAMMU, Aug 7: For providing comprehensive term insurance and financial protection against loan repayments to youngsters, Life Insurance Corporation of India (LIC) today announced the launch of four new plans, here today.
The new plans Yuva Term, Digi Term, Yuva Credit Life, and Digi Credit Life are effective from August 5, 2024.
Speaking on the occasion, Siddhartha Mohanty, CEO & MD, Life Insurance Corporation of India said, “LIC’s Yuva Term is available offline through our intermediaries and LIC’s Digi Term is available online only through our website. The purpose of these products is to cater to youngsters who wish to take Term insurance in initial stages of life and give them a wider choice to buy offline or online.”
LIC’s Yuva Term, Digi Term is a non-par, non-linked, life, individual, pure risk plan providing financial protection to a subscriber’s family in case of his/her unfortunate death during the policy term.
“We have also launched a product to cover your loan liabilities through term insurance – LIC’s Yuva Credit Life in offline mode through our intermediaries and LIC’s Digi Credit Life, which is only available online. As today people are utilizing loan facilities available for various needs, LIC has launched Term insurance plan to cover loan liabilities like housing/education/vehicle etc for providing a safety net against loan repayments to the insured’s family,” he said.
“We believe that the news contained in this release is of value to your readers. While we would thank you to publish it as soon as possible, we also readily recognize that the decision to do so rests entirely with you,” he added.
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