LIC Term Insurance Plans

LIC term insurance plans cater to the needs of its customers in every segment of life. The mass reliability of this company makes it a household name. LIC term insurance plans are available at affordable premium rates with multiple choices in death benefit payout. In addition to this, customers have the option to personalize their plans according to their financial requirements.

At present, LIC offers 3 different plans under their LIC term insurance segment and they can be bought traditionally through their branches.

Continue for deep insights into LIC term insurance.

Key Features of LIC Term Insurance

This section gives a glance into the company’s performance based on several factors such as:

Benefits of LIC Term Insurance

Moving forward, let’s take a look below at some of the benefits available with LIC Term Insurance:

LIC Term Plans

LIC offers 3 term plans to secure the financial needs of your family. Check them out:

LIC Term Insurance Riders

LIC Term insurance plan offers various riders to enhance coverage of the policy. While purchasing life-term insurance for you and your family, it is always a good idea to add an extra layer of protection to your plan. Let's take a look at the additional riders offered by the LIC term insurance plans.

• LIC Accidental Death & Disability Benefit Rider

  In the event of disability, this rider will pay the Accident Benefit Sum Assured in the form of monthly instalments for 10 years. Also, all the future premiums of the rider as well as the base plan, if any, will be waived under the policy to the extent of Accident Benefit Sum Assured.

  Whereas, in case of death, the amount equal to Accident Benefit Sum Assured will be paid to the nominee.

• LIC Accident Benefit Rider

  The rider is available under ‘Regular Premium’ and ‘Limited Premium’ payment policies, wherein the beneficiary receives the additional sum assured plus the death benefit if the insured dies in an accident or within 180 days from the date of the accident.

• LIC New Critical Illness Benefit Rider

  This critical illness rider is a non-linked rider that will reduce the financial burden of the insured if they are diagnosed with any of the 15 pre-specified critical illnesses.

• LIC Premium Waiver Benefit Rider

  his rider can be opted with the base plan at the inception or at any time during the premium paying term of the base plan. It assists the insured with a waiver of future premiums payable under the base LIC life insurance plan till the expiry of the rider.