What are LA and LP in the LIC plans?

Under LIC Child Plans, the wordings LA and LP are mentioned to describe the policyholder and the Life proposer. Here, the word LA means life assured, and LP means life proposed.

These terms are being used in child plans and annuity plans where the policyholder and the proposer are different. In this kind of policy, the premium is calculated on the basis of the policyholder’s age and not the life proposer’s age.