Term assurance plans of LIC are pure protection policies that provide high life cover at relatively low cost, without any maturity value if the life assured survives the term. They are designed to protect your family’s financial future by paying a substantial lump sum to nominees on death during the policy term.
What are Term Assurance Plans?
Term assurance is the simplest form of life insurance where the entire focus is on providing risk cover for a defined period. If the life assured dies during the term, the Sum Assured is paid; if they survive till the end, nothing is payable under the base policy (except any riders that may have paid earlier).
List of LIC Term Assurance Plans
As per LIC’s official term plans page (updated 3 December 2025), the current term assurance products are:
| S. N. | Product Name | Plan No. | UIN No. | Broad positioning |
|---|---|---|---|---|
| 1 | LIC’s Digi Term | 876 | 512N356V02 | Online term insurance for individuals |
| 2 | LIC’s Digi Credit Life | 878 | 512N358V01 | Credit‑life term cover for loans |
| 3 | LIC’s Yuva Credit Life | 877 | 512N357V01 | Credit‑life cover focused on younger lives |
| 4 | LIC’s Yuva Term | 875 | 512N355V02 | Term plan designed for young individuals |
| 5 | LIC’s New Tech‑Term | 954 | 512N351V02 | Online term plan with flexible options |
| 6 | LIC’s New Jeevan Amar | 955 | 512N350V02 | Offline term plan with level/increasing SA |
| 7 | LIC’s Saral Jeevan Bima | 859 | 512N341V01 | Standardised IRDAI “Saral” term policy |
| 8 | LIC’s Bima Kavach | 887 | 512N360V01 | High‑sum‑assured pure term with cover up to high ages |
LIC’s Individual Term Plans
- LIC’s Digi Term (Plan 876) – An online term assurance plan offering high life cover for individuals who prefer digital purchase and servicing, often at competitive premiums compared to offline options.
- LIC’s Yuva Term (Plan 875) – A term plan targeted at younger customers, typically offering favourable rates at early entry ages and options aligned to young earners’ needs.
- LIC’s New Tech‑Term (Plan 954) – A non‑linked, pure risk online term plan with features like level or increasing Sum Assured options and flexible premium payment modes.
- LIC’s New Jeevan Amar (Plan 955) – An offline term plan sold through agents/branches, providing level or increasing cover, different premium payment options and broad eligibility.
- LIC’s Saral Jeevan Bima (Plan 859) – A standardised, simple term product mandated by IRDAI, with uniform basic features across insurers, aimed at easy understanding and comparability.
- LIC’s Bima Kavach (Plan 887) – A newer high‑value term plan with options for level or increasing Sum Assured and coverage up to very advanced ages (subject to plan rules), suitable for large cover needs.
LIC’s Credit‑Life Term Plans
- LIC’s Digi Credit Life (Plan 878) – A digital credit‑life term cover that protects lenders and borrowers by paying off outstanding loan amounts if the insured borrower dies during the cover term.
- LIC’s Yuva Credit Life (Plan 877) – A credit‑life variant oriented towards younger borrowers, providing life cover linked to loan liabilities.
How to Use LIC Term Assurance Plans in Planning
For loans (home, education, personal), credit‑life plans such as Digi Credit Life or Yuva Credit Life can ensure that outstanding debts are cleared if the borrower dies, preventing financial burden on the family.
For pure family protection, individuals generally choose retail term plans like Digi Term, New Tech‑Term, New Jeevan Amar, Saral Jeevan Bima or Bima Kavach based on channel preference, cover amount and flexibility needs.