LIC's Digi Credit Life Plan 878 Calculator

Plan No. 878 (UIN: 512N358V01) - Online Loan Protection

Your Current Age Min: 18, Max: 45 years (Last Birthday)

Gender Special rates may apply for women.

Smoker Status Smoker rates are generally higher.

Basic Sum Assured (Loan Amount) (₹) Min: ₹50,00,000. Auto-adjusts to multiples.

Policy Term (Loan Tenure in Years) Range: 5 to 30 years.

Loan Interest Rate for Risk Cover Schedule (%) Choose rate for decreasing cover calculation.

Premium Payment Type Single or Limited premium payment.

Limited Premium Paying Term (Years) Determined by Policy Term.

Premium Payment Mode (for Limited PPT) Frequency of premium payment.

Premium Options

Click on a premium option to see its details.

GST: Premiums shown are inclusive of 18% GST (assumed rate). Base premiums are exclusive of GST. Actual GST is as per prevailing rates.

Death Benefit Details (Decreasing Cover)

The Sum Assured on Death (SAD) reduces each year. It is calculated based on your chosen Basic Sum Assured (initial loan), Policy Term, and the selected Loan Interest Rate for the Risk Cover Schedule. This SAD might be higher or lower than your actual outstanding loan at any point.

For Limited Premium: SAD is higher of (a) 105% of Total Premiums Paid, or (b) Absolute Amount Assured (as per Risk Cover Schedule).
For Single Premium: SAD is the Absolute Amount Assured (as per Risk Cover Schedule).

Maturity Benefit

On survival of the life assured to the end of the policy term, no maturity benefit is payable under this plan.

Risk Cover Schedule

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Policy Year	Sum Assured on Death (₹)

Above schedule is illustrative, based on selected loan interest rate for the schedule, not actual loan repayment. Actual SAD as per policy document.

Plan Summary

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Key Features:

A Non-Par, Non-Linked, Life, Individual, Pure Decreasing Term Assurance Plan.
Available **Online Only** and can be purchased directly through website www.licindia.in.
Provides a safety net against loan repayment in case of unfortunate death.
Choice of Loan Interest Rate (6%-12%) for preparing Risk Cover Schedule.
Single Premium and Limited Premium (5, 10, or 15 years) payment options.
Special rates for women.
Benefit of attractive High Sum Assured Rebate.
Non-Smoker and Smoker premium rates.

Eligibility Conditions:

Minimum Entry Age: 18 years (last birthday)
Maximum Entry Age: 45 years (last birthday)
Minimum Maturity Age: 23 years (last birthday)
Maximum Maturity Age: 75 years (last birthday)
Policy Term: 5 to 30 years
Premium Paying Term (Limited):
- Policy Term 5-9 years: PPT is 5 Years
- Policy Term 10-14 years: PPT is 5 Years
- Policy Term 15-24 years: PPT is 10 Years
- Policy Term 25-30 years: PPT is 15 Years
Minimum Basic Sum Assured: ₹50,00,000
Premium Payment Modes (Limited PPT): Yearly, Half-Yearly

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