LIC Term Insurance
LIC Tech Term Plan is an online term plan that you can purchase by vis ...Read More
A quick read on what this LIC Term Insurance term plan covers and why it might be a fit for you.
LIC's Tech Term plan is a non-linked, non-participating online, pure risk premium plan that provides financial protection to the insured's family in case of the policyholder's demise during the policy term. The plan was introduced by LIC of India to facilitate easy access to term plans for those looking to buy from the comfort of their homes. In addition to covering potential financial expenses of the insured's family, the Tech Term plan comes with additional benefits in the form of riders for enhanced coverage.
LIC Tech Term Plan offers a range of benefits including:
A quick honest summary — the strengths and the trade-offs.
Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.
Know about LIC tech term plan 854 term insurance complete details. This is LIC s most affordable term insurance plan to secure one s life & family.
Eligibility criteria pulled straight from the policy wording.
Let's understand how the LIC Tech Term Policy works with a simple premium illustration.
Mr. Verma is looking for a simple and affordable term plan that he can buy online, get rider benefits, and discounts.
His financial advisor advised him to buy the LIC Tech Term Policy. He visited PolicyX.com.
Let's understand how the LIC Tech Term Policy works for him with a premium illustration table.
| Age of policyholder | Annual premiums | Policy tenure | Premium payment term | Total premiums paid | Sum assured |
| 30 years | Rs 9,135 | 20 years | 20 years | Rs 1,82,700 | Rs 1 crore |
Key Takeaways: In case of Mr. Verma's demise during the policy tenure, Rs 1 crore will be paid to their nominee.
Key features that make LIC Tech Term Plan stand out.
Flexibility to choose benefit option
The policyholders have the flexibility to choose from two benefit options: Level Sum Assured and Increasing Sum Assured.
High Sum Assured Rebate
LIC Tech Term Plan offers discounts/rebates to the policyholders on choosing high sum assured.
Choice of policy term
LIC Tech Term Plan offers you the option to choose the policy tenure.
Lower premiums for females
LIC Tech Term Plan offers lower premium rates for their female policyholders.
Here are the key benefits of the LIC Tech Term Plan.
Death Benefit Payout
LIC Tech Term plan allows room for choice in the death benefit payout. In the event of the unfortunate demise of the life assured, the beneficiaries of the plan will receive a lump sum or monthly income.
Rebates on High Sum Assured
LIC Tech Term Plan also offers attractive rebates on higher sums assured. Policyholders can avail of significant discounts on their premiums if the sum assured at policy inception is Rs. 1 crore or above.
Optional Benefits
To let policyholders avail additional coverage, LIC Tech Term plan offers several optional benefits that help the policyholder to customize their plan as per their needs and requirements.
Flexible Premium Payment Terms
In terms of premium payment, the LIC Tech Term plan offers enormous flexibility. Policyholders have the option to choose from Single, Regular or Limited premium.
Here is the list of exclusions associated with the plan:
LIC's New Tech-Term is a pure risk premium life insurance plan. This online plan provides financial protection to the insured's family in case of his/her unfortunate death during the policy term. If you are still confused about which term plan is best for you, you can contact us at PolicyX.com. One of our insurance representatives will contact you shortly, understand your requirements, and help you choose a plan that suits your needs.
LIC's New Tech-Term is a pure risk premium life insurance plan. This online plan provides financial protection to the insured's family in case of the policyholder's demise during the policy term.
The 9 most-asked questions about LIC Tech Term Plan, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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