LIC launched 4 Term Insurance Products for Youth

Current Context: LIC recently launched four new term insurance products specifically designed for young people.

• These plans are:
• Yuva Term: Available offline, this plan offers pure risk coverage and financial protection for the policyholder’s family in case of their unfortunate death during the policy term.
• Digi Term: An online-only plan providing similar benefits as Yuva Term but accessible through LIC’s website.
• Yuva Credit Life: This plan covers loan liabilities like housing, education, and vehicle loans, providing a safety net against loan repayments.
• Digi Credit Life: An online version of Yuva Credit Life, offering the same coverage for loan liabilities.
• These plans aim to provide comprehensive term insurance and financial protection against loan repayments, catering to the needs of young individuals who want to secure their future early in life.

Question:

1 Which plan is described as an online-only product that offers benefits similar to the ‘Yuva Term’ plan by LIC?

• A) Yuva Credit Life
• B) Digi Credit Life
• C) Digi Term
• D) Yuva Term

Answer: C) Digi Term: An online-only plan providing similar benefits as Yuva Term but accessible through LIC’s website.