Formula
P = (T − R) × S / 1000
T = A / (ä × (1 − λ))
Ct = S × [1 − (1 + j)−(n − t + 1)] / [1 − (1 + j)−n]
where
- P
- single premium
- T
- tabular premium per ₹1,000 of sum assured, for your age, term and premium paying term
- R
- high sum assured rebate, ₹ per ₹1,000: a percentage of T set by entry age and sum assured (nil on smaller policies)
- S
- Basic Sum Assured
- A
- present value, per ₹1,000 of sum assured, of everything the policy pays
- ä
- 1, since the premium is paid once, at the start
- λ
- expense loading, 40%
- Ct
- cover in policy year t: what is left on a loan of S repaid in equal yearly instalments
- j
- the cover schedule's interest rate, one of 6%, 7%, 8%, 9%, 10%, 11%, 12%
- n
- policy term, in years
In short (tl;dr)
Yuva Credit Life is LIC's loan protection plan sold through agents and other intermediaries. The cover starts at the sum assured and reduces every policy year along a loan schedule at an interest rate you choose.
Worked example: at 40, ₹50,00,000 of cover over 25 years costs ₹1,03,450 a year for 1 year.
What is LIC Yuva Credit Life?
Yuva Credit Life (Plan 877) is a non-participating, non-linked pure risk plan. It pays the Sum Assured on Death for the policy year in which the life assured dies, and nothing if they survive the term.
At purchase you choose the Basic Sum Assured, the policy term and one of seven interest rates, 6% to 12%. LIC builds a Risk Cover Schedule from those three: year one's cover is the Basic Sum Assured, and every later year's is the balance left on a loan of that size repaid in equal yearly instalments at the chosen rate. On a 25-year schedule at 8% that is ₹986.32 per ₹1,000 in year two, ₹433.07 in year 20 and ₹86.74 in year 25.
The schedule is fixed at the start and does not follow your actual loan. A borrower at 7.25% may pick 7% or 8%. Prepayment, a rate reset or a longer tenure on the loan leaves the cover where the schedule put it.
It is the offline counterpart of Digi Credit Life (Plan 878), which is sold only on LIC's website. At every age and premium term in the two brochures, Yuva Credit Life costs more for the same cover. It also opens a smaller ₹20 lakh to ₹35 lakh band to borrowers aged 21 to 45 who have a loan sanctioned by an approved lender, on separate rates.
Key features
- Sold through LIC agents, corporate agents, brokers and insurance marketing firms
- Cover reduces each year along a loan schedule at 6% to 12%, chosen at purchase
- Basic Sum Assured ₹50 lakh to ₹5 crore; ₹20 lakh to ₹35 lakh for ages 21 to 45 with a sanctioned loan
- Single premium, or 5, 10 or 15 years of premiums, yearly or half-yearly
- Entry age 18 to 45, cover to age 75 at most
- Non-smoker rates on a urine cotinine test, and lower rates for women
Yuva Credit Life at a glance
- Plan number
- 877
- Category
- Term Insurance
- Entry age
- 18 to 45 years
- Policy term
- 5 to 30 years
- Premium paying term
- 1, 5, 10, 15 years
- Sum assured
- ₹50 Lakh to ₹5 Crore
- Maximum maturity age
- 75 years
- UIN
- 512N357V01
We checked the plan number and UIN above against LIC's own page for this plan on 2026-10-02. Check it on licindia.in
What are the benefits of LIC Yuva Credit Life?
What does LIC Yuva Credit Life pay on death?
The Sum Assured on Death for the policy year of death, as printed in the policy's Risk Cover Schedule. On a limited premium policy it is never less than 105% of the premiums paid to the date of death.
What do you get at maturity?
None. If the life assured survives the term, nothing is paid.
Who is LIC Yuva Credit Life for?
A borrower who wants a large loan cleared on their death and would rather buy through an agent, or who needs the ₹20 lakh to ₹35 lakh band for a smaller sanctioned loan.
What should you watch out for?
It costs more than Digi Credit Life for the same cover. LIC's sample grid puts a 30-year-old's 10-year-pay premium at ₹7,900 a year against ₹6,250 online, about 26% more. The schedule also does not move with your loan.
What does LIC Yuva Credit Life cost?
Worked out on a 25-year term with premiums paid for 1 year, for a non-smoking man. Change any of these in the calculator above for your own figures.
By sum assured, at age 40
| Sum assured | Premium a year | Total paid in |
|---|---|---|
| ₹50,00,000 | ₹1,03,450 | ₹1,03,450 |
| ₹1,00,00,000 | ₹1,75,865 | ₹1,75,865 |
| ₹2,50,00,000 | ₹3,87,938 | ₹3,87,938 |
Premiums are modelled on this plan's own tabular rates. This is a pure protection plan, so there is no maturity value.
By age, on ₹50,00,000 of cover
Sum assured moves the premium almost in a straight line, so the table above is easy to read across. Age does not, and it is the input people most often want to test before filling anything in.
| Age at entry | Premium a year | Total paid in |
|---|---|---|
| 25 years | ₹47,882 | ₹47,882 |
| 30 years | ₹54,658 | ₹54,658 |
| 40 years | ₹1,03,450 | ₹1,03,450 |
Age moves this premium a long way: ₹47,882 at 25 becomes ₹1,03,450 at 40, 2.2 times as much. Most of it pays for the risk of dying during the term, and that risk climbs with age.
LIC's own sample premium, from the brochure
From the sourceNot modelled: this is the table LIC prints in its own brochure (Sales brochure, section 7 Sample Illustrative Premium, policy term 25, loan interest rate 8%, male non-smoker), at ₹50,00,000 of cover, the sum assured LIC chose to illustrate. Everywhere else on this page the premium is worked out for the sum assured you enter; here it is fixed at that figure, because that is what LIC published.
These figures are taken from the document linked below. Check them there.
| Age at entry | 1 years | 5 years | 10 years | 15 years |
|---|---|---|---|---|
| 20 | ₹40,900 | ₹10,100 | ₹6,100 | ₹4,850 |
| 30 | ₹53,550 | ₹13,150 | ₹7,900 | ₹6,200 |
| 40 | ₹1,03,450 | ₹25,100 | ₹14,900 | ₹11,650 |
Priced on ₹50,00,000 of cover, exclusive of taxes, standard lives. Our own model is anchored on the age 40, 25-year term, 1-year premium term cell in this table; the other cells are the real test of the model, and the editorial and methodology policy publishes how far off they run.editorial and methodology policy publishes how far off they run.
Who can take LIC Yuva Credit Life?
Age to start
- Minimum
- 18 years
- Maximum
- 45 years
Policy term
- Minimum
- 5 years
- Maximum
- 30 years
Age when the policy matures
- Maximum
- 75 years
Your age at entry plus the policy term cannot come to more than 75.
Years you pay for
- Terms available
- 1, 5, 10 or 15 years
Sum assured
- Minimum
- ₹50,00,000
- Maximum
- ₹5,00,00,000
The calculator applies every limit above. LIC sets them out under "Eligibility Conditions and Other Restrictions" on page 2 of the Yuva Credit Life sales brochure, linked in the form above.
What Yuva Credit Life pays if you surrender
No surrender value. On surrender LIC pays an Unexpired Risk Premium Value instead: on a single premium policy at any time, and on a limited premium policy only after two full years' premiums on a 5-year premium term, or three on a 10 or 15-year term.
Taken from the plan's own brochure rather than modelled, which is why there is no table here: LIC states the percentages for this plan outright, and a percentage of a number you already know needs no calculator.
Tax on LIC Yuva Credit Life
Two provisions do the work, and both turn on the size of the premium rather than on the plan. The Income-tax Act, 2025 renumbered both from 1 April 2026 without changing the rules, so each is given here under its old number and its new one.
Section 80C, now Section 123, on what you pay in
Premiums count towards the ₹1.5 lakh limit, in the year they are paid, if you are on the old regime. The deduction is restricted where the annual premium is more than 10% of the sum assured.
Section 10(10D), now Schedule II, on what comes back
Maturity proceeds are exempt where the premium in every year stays inside 10% of the sum assured, and, for a policy issued on or after 1 April 2023, where the premiums on all such policies together stay inside ₹5 lakh a year. Death proceeds are exempt either way.
Where this policy sits
The ₹50,00,000 policy priced above costs ₹1,03,450 a year, which is 2.1% of the sum assured. That is inside the 10% test, on both provisions. A larger sum assured moves the ratio down.
GST
Nil. Individual life insurance premiums have been exempt since 22 September 2025, so the instalment the calculator shows is the amount that leaves your account.
None of this is tax advice. Which regime you are on, what else you hold and when the policy was issued all change the answer, so confirm your own position with a tax adviser before you rely on it.
How this calculator works
Yuva Credit Life is priced here on its own parameters, not a generic formula. We build the plan's full cash-flow schedule, meaning the death benefit in each policy year, every survival payout and the maturity value, then discount it on a basis calibrated to a reference premium for this plan. That reference is checked two ways: against LIC's published tabular rate, and against the return the plan's own benefits imply for the policyholder.
- Reference premium
- ₹20.69 per ₹1,000 at age 40, 25-year term, 1-year premium term
- Discount basis
- 8.81% a year, on LIC (2012-14) Ultimate mortality scaled to 70% for this plan's underwritten pool
- GST
- Nil. Individual life insurance premiums have been exempt from GST since 22 September 2025, so the instalments shown are what you actually pay.
Bonus rates are declared annually and are not guaranteed; only the sum assured and any contractual guaranteed additions are. Read our editorial and methodology policyfor the full basis, and confirm every figure with LIC before you buy.
Check the source:Yuva Credit Life on licindia.inLIC valuation and bonus declarationsIRDAI regulations
How LIC Yuva Credit Life compares
The plans people weigh this one against, and what separates each from it.
| Plan | Policy term | You pay for | Cover from | What is different |
|---|---|---|---|---|
| Yuva Credit LifeNo. 877 · this page | 5 to 30 years | 1, 5, 10, 15 years | ₹50 Lakh | LIC's agent-sold loan cover: the death benefit falls each year in step with a loan schedule. |
| Digi Credit LifeNo. 878 | 5 to 30 years | 1, 5, 10, 15 years | ₹50 Lakh | Online-only loan cover from LIC: the death benefit falls each year in step with a loan schedule. |
| New Jeevan AmarNo. 955 | 10 to 40 years | The full term | ₹25 Lakh | Tech-Term's agent-sold twin: the same pure cover, sold through agents until LIC withdrew it. |
| New Tech-TermNo. 954 | 10 to 40 years | The full term | ₹50 Lakh | LIC's online term plan: level cover from ₹50 lakh, bought direct with no agent. |
| Saral Jeevan BimaNo. 859 | 5 to 40 years | The full term | ₹5 Lakh | The standard term plan every insurer must offer, with identical terms across the market. |
To price several of these against each other on the same age and sum assured, the LIC premium calculator runs every plan on the site through the same engine and puts the answers in one table.
LIC Yuva Credit Life: frequently asked questions
How much is LIC Yuva Credit Life for ₹50 lakh?
LIC's brochure prices a 25-year policy at an 8% schedule for a non-smoking man. At age 30: ₹53,550 single premium, or ₹13,150 a year for 5 years, ₹7,900 a year for 10, ₹6,200 a year for 15. At age 40: ₹1,03,450, ₹25,100, ₹14,900 and ₹11,650. Premiums exclude tax.
How does the sum assured reduce in Yuva Credit Life?
It follows a Risk Cover Schedule: each policy year's cover is what would still be owed on a loan equal to the Basic Sum Assured, repaid in equal yearly instalments over the policy term at the interest rate you picked. On a 25-year schedule at 8%, cover is 80.18% of the sum assured in year 11 and 8.67% in year 25.
Can I take Yuva Credit Life for less than ₹50 lakh?
Only between ₹20 lakh and ₹35 lakh, only at entry ages 21 to 45, and only where the cover is needed for a loan sanctioned by an approved financial institution or NBFC for a specified purpose such as a home loan. Separate premium rates apply, and the minimum premium drops to ₹2,400 a year, or ₹8,040 single.
Is Yuva Credit Life more expensive than Digi Credit Life?
Yes, at every point LIC prints. For ₹50 lakh over 25 years at 8%, a 40-year-old pays ₹1,03,450 single premium under Yuva Credit Life against ₹88,750 under Digi Credit Life. Digi Credit Life is sold only online.
What if I repay my loan before the policy ends?
You can keep the cover running to the end of the term on the original schedule, or surrender the policy for its Unexpired Risk Premium Value, if any is due.
Spot something wrong?
If a figure on this page disagrees with an LIC premium notice, bonus statement or benefit illustration, tell us and we will check it against the brochure. Anything else you think this page gets wrong is just as welcome.
Related calculators
Plans people usually weigh up against Yuva Credit Life before deciding.
Digi Credit Life
No. 878Online-only loan cover from LIC: the death benefit falls each year in step with a loan schedule.
Open calculatorNew Jeevan Amar
No. 955Tech-Term's agent-sold twin: the same pure cover, sold through agents until LIC withdrew it.
Open calculatorNew Tech-Term
No. 954LIC's online term plan: level cover from ₹50 lakh, bought direct with no agent.
Open calculatorSaral Jeevan Bima
No. 859The standard term plan every insurer must offer, with identical terms across the market.
Open calculator