LIC Term Insurance Plans 2025 – Features & Benefits

When we are thinking about taking a Term Insurance, we will first look at Lic Of India. Lic has new plans, 1) Tech Term Insurance ( online only) 2 Jeevan Amar Term Insurance ( Both online and offline).

In this article, I will explain about term life insurance plans available in LIC.

1) Lic Of India -Tech Term Insurance Plan Features and Benefits…

Term Insurance Plans-Lic of India -Tech Term Insurance Plan Features and Benefits — Term Insurance plans-Lic Tech Term Insurance Plan Features and Benefits

This plan Number is 854.

In addition, this is a non-linked without profit pure protection online term insurance policy.

Moreover, this policy will be issued with an online application process only.

And there will be no Agent involvement will be there in this policy.

LIC Tech Term Term Insurance Features and Benefits…

Eligibility Conditions are…

The minimum age to take this policy is 18 years ( Last Birthday).
In addition, the maximum entry age in this policy is 65 years( Last Birthday).
The maximum age at maturity is 80 years ( last birthday).
and the Minimum Sum Assured in this policy is Rs.50,00,000.
However, there is no limit on the maximum basic sum Assured.
In addition, the policy term in this policy is 10 to 40 years.
The Basic Sum assured must be in multiples of 5 lakh If the basic sum assured is in between 50 lakh to 75 lakh.
And the Basic Sum Assured must be in multiples of 25 lakh if the basic sum assured is above 75 lakh.

Key Features in this policy are…

You can Level Sum Assured or Increasing Sum Assured.
Flexibility to chose Regular premium or Single Premium or LImite Premium Payment.
In addition, You can choose a policy term and also Premium Term.
You can opt for the Death benefit in installments.
In addition, Special premium rates for women.
And you will get an attractive high sum assured rebate in this policy.
Moreover, there are two category premium rates 1) for smoker 2) Non-Smoker.
In the case of Non-Smoker, premium rates are based on the findings in the urinary cotinine test.
However, in all other cases, Smoker premium rates will be applicable.
You can opt for Rider Benefit for Accidental death benefit by paying extra premium.

How to purchase Lic Tech Term Insurance Policy?…

You can buy this term insurance policy from Lic Website directly without the Lic agent’s involvement.

In addition, you have to select Level Sum Assured/Increasing Sum Assured.

Also, You have to select the payment option Regular/Limited/Single and the premium payment mode yearly/Half-yearly for regular premium payment option.

What is the free Look period for Lic Tech Term Insurance Policy?…

The policyholder can return this policy within 30 days after receiving the policy document if he is not satisfied with the terms and conditions of the policy.

In addition, the policyholder has to mention the reason for canceling the policy.

Then the Lic of India will return the premium to the policyholder by deducting medical test charges, risk insurance premium proportionally, special report charges, and stamp duty charges.

What is the Maturity Benefit in this Lic Tech Term Insurance Policy?…

The policyholder will not receive any maturity amount on the survival at the end of the policy term.

Loan Facility in this policy?…

No loan facility is available in this policy.

What are the death benefits under this Lic of India Tech Term Insurance Policy?…

Death claim will be paid up to Sum assured opted in this policy during the policy term.

In addition, the policy must be in force at the time of death.

For Regular premium and limited premium payment option, the sum assured on death is defined as highest of the below.

7 times of annualized premium or
105% of all the premiums paid as on the date of death or
Absolute amount assured to be paid on death.

For Single premium Policy, the sum assured on death is defined as the highest of the following…

125% of Single premium
Absolute Death benefit.

In addition, the premium referred above shall not include any extra premium for underwriting decisions or for the rider benefit.

What is the absolute amount assured to be paid on death?…

Absolute Death Benefit is a Death Benefit Option.

In addition, You have to choose this option at the time of taking the policy.

Option 1) Level Sum Assured…

In this option, Basic Sum assured, and absolute Death Benefit is the same.

In addition, the sum assured will remain constant throughout the entire policy term.

Option 2) Increasing Sum Assured…

In this option, the basic sum assured will be equal to the absolute amount assured on death till completion of the 5th policy year.

Thereafter, the absolute assured death benefit will increase by 10% every year from 6fth year 15th year till it becomes twice the basic sum assured.

In addition, this increase will continue until the policy term or till the date of death or till the 15h year of the policy, whichever is earlier.

However, from the 16th year, the absolute death benefit will be constant for the remaining Policy term.

I.e Twice the Basic Sum assured till the policy term ends.

For example, for a Basic Sum Assured of 50 lakh, the absolute Death sum assured will be 50 lakh till the 5th year.

After the 5th year, the absolute death sum assured will be 55 lakh in the 6th year, and 60 lakh in the 7th year, and so on.

In addition, this 10% increase in absolute death Sum Assured will continue till it becomes 1 crore in the 15th year.

Moreover, the absolute death sum assured from the 16th year will remain constant until the end of the policy term.

In addition, during the policy term, the death benefit option can not be changed.

Review of Lic Tech Term Insurance Policy…

It is a pure online term insurance policy.
Premium rates for women are attractive.
Premium payment options are very flexible regular, single, and limited payment.
It has two options, Level Sum Assured, and Increasing sum Assured.
This policy has coverage till 80 yeara of age.( actually no need to take till that age).
Overall this policy looks cheaper than the Lic E-Term plan.
So, According to me if you are thinking to buy a term insurance and looking for brand and safety?
Then You can definitely buy this policy from the Lic of India.

Lic Jeevan Amar Term Insurance Policy ( Plan NO.855)…

Lic launched a Non-Profit, Non-Participating term insurance plan, Jeevan Amar.

In addition, the plan number is 855.

Features and Benefits of Jeevan Amar are…

Jeevan Amar Term Insurance jeevan amar features and benefits — Term Insurance jeevan amar features and benefits

The minimum age to take this policy is 18 years ( Last Birthday).
In addition, the maximum entry age in this policy is 65 years( Last Birthday).
The maximum age at maturity is 80 years ( last birthday).
and the Minimum Sum Assured in this policy is Rs.25,00,000
However, there is no limit on the maximum basic sum Assured.
In addition, the policy term in this policy is 10 to 40 years.
The Basic Sum assured must be in multiples of 1 lakh If the basic sum assured is in between 25 lakh to 40 lakh.
And the Basic Sum Assured must be in multiples of 10 lakh if the basic sum assured is above 40 lakh.