Idbi Federal vs Lic Term Term Insurance 2026 | PolicyX
COMPANY DETAILS ✎ Edit

Idbi Federal

✎ Edit

Lic Term

Rating
Number of term insurance plans and add-ons
Annual Premiums Collected (2024-25)

Annual Premiums Collected (2024-25)

₹ 3072.74 crores

Annual Premiums Collected (2024-25)

₹ 848.92 crores
Payout Options

Payout Options

Lump sum, monthly or a combination of both

Payout Options

Lump sum, monthly, or a combination of both
Claim ratio

Payout Options

98.52%%

Payout Options

98.15%%
Solvency Ratio

Solvency Ratio

2.70

Solvency Ratio

2.11
Pan India Presence

Pan India Presence

3,200

Pan India Presence

2048
Riders Available

Riders Available

Critical Shield Rider, Accident Care Rider

Riders Available

Accidental Death and Disability Benefit, Critical Illness, Premium Waiver Benefit
Inception year

Inception year

2007

Inception year

1956
Complaint ratio per ₹1 crore of premium collected

Complaint ratio per ₹1 crore of premium collected

0.035

Complaint ratio per ₹1 crore of premium collected

0.005
Average claim settlement time

Average claim settlement time

30 days

Average claim settlement time

7-15 working days
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Types of LIC Term Insurance Plans

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LIC Tech Term Plan

The LIC Tech Term plan is an online, pure risk term insurance offering financial protection for families, with options for flexibl... Read More

Unique Features

  • Online Application
  • Rebate on High Sum Assured
  • Lower Premium for Women
Sum AssuredEntry age - 18 years
Entry AgeMax entry age - 65 years
View plan

Term Insurance Articles

Quick Comparison with Other Insurers

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Expert Reviewed

Reviewed By: Naval Goel

Naval Goel has over a decade of expertise in the insurance sector, having worked with companies like AIG, New York. He is an Associate Member of the Indian Institute of Insurance, Pune, and is authorized by IRDAI to act as Principal Officer of PolicyX.com Insurance Web Aggregator.

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