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Bindiya is a seasoned content writer specializing in keeping readers acquainted with the insurance industry, term insurance developments, and life insurance sector shifts. With an experience of 3 years in insurance, Bindiya ensures that her readers stay well informed with the insurance developments and factually correct information.
Raj Kumar has more than a decade of experience in driving product knowledge and sales in the health insurance sector. His data-focused approach towards business planning, manpower management, and strategic decision-making has elevated insurance awareness within and beyond our organisation.
Updated on Apr 08, 2025 4 min read
LIC’s term insurance premium calculator is an online tool that helps its customers to calculate the premium that is payable for the term policy that they wish to purchase. The policyholders are required to enter their information such as age, income, gender, coverage, and policy tenure in the calculator and it uses the given information to calculate the premiums. The calculator is specifically designed to do complex calculations in minutes.
LIC Term Insurance Premium Calculator is an online tool that helps you calculate LIC term insurance premiums. Using the LIC Term Plan Premium Calculator is easy as you have to just enter your basic details such as age, sum assured, policy tenure, and the calculator will instantly show you the premium details.
These are the benefits of the Term Insurance Premium Calculator provided by LIC:
LIC term insurance premium calculator plays an important role when an individual is trying to make a decision on which term insurance plan to buy. Here are a few pointers on why a premium calculator might help:
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LIC Term Insurance
The information required to calculate LIC Term Insurance Premiums is the date of birth, life cover and sum assured.
We can find LIC Term Plan Calculator on their official website.
No, we are not required to pay the insurer to calculate the Term Insurance Premium.
The premium payment frequency is flexible in the term plan provided by LIC. Individuals can select among various premium payment options such as Monthly, quarterly, half-yearly, and single premium according to their capability.
Yes, there are no hidden charges when calculating premiums via the LIC term insurance calculator. The premium calculated will include 18% GST as per the government-laid laws.
Yes, the calculator can give information about the discounts and add-on benefits of the plan
Yes, the smoking habit impacts the premium calculation. If the person is a smoker the outcome of the calculation will be a higher premium. A smoker has to pay a higher premium compared to a non-smoker individual.
Yes,the result of the calculation is totally trustworthy as the calculations are based on the data that the customer has entered.
No, geographical location will have no impact on the LIC term plan calculator.
Check and compare plans from 21 IRDAI-approved term insurance providers before purchasing a term plan.
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Bindiya is a seasoned content writer specializing in keeping readers acquainted with the insurance industry, term insurance developments, and life insurance sector shifts. With an experience of 3 years in insurance, Bindiya ensures that her readers stay well informed with the insurance developments and factually correct information.
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