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⚰️ What is LIC Term Plan?
- A pure life insurance plan that offers financial protection to your family in case of your untimely death
- Provides high life cover at low premiums
- No maturity benefit if the policyholder survives the policy term
✅ Key Features
- Death Benefit: Lump sum amount paid to the nominee in case of policyholder’s death during the policy term
- Affordable Premiums: Offers large cover at relatively low cost
- No Survival Benefit: No payout if the insured survives the policy duration
- Optional Riders: Add-ons like Accidental Death, Disability, and Critical Illness can be included
- Flexible Policy Term: Choose your coverage term (e.g., 10 to 40 years)
- Tax Benefits: Premiums eligible under Section 80C; death benefit under Section 10(10D)
💡 Benefits
- Family Protection: Ensures financial security for your loved ones in your absence
- High Coverage: Suitable for individuals with large financial responsibilities
- Peace of Mind: Provides assurance that dependents won’t be financially burdened
- Customizable: Choose from various riders and payout options
📄 Eligibility Criteria (Varies by Plan)
- Entry Age: 18 to 65 years
- Policy Term: 10 to 40 years
- Minimum Sum Assured: ₹50 lakhs (varies by plan)
- Maximum Maturity Age: Up to 80 years
🧾 Popular LIC Term Plans
- LIC Tech-Term: Online-only, pure term plan with multiple options and low premiums
- LIC Jeevan Amar: Offline plan with flexible benefit options and enhanced coverage
- LIC Saral Jeevan Bima: Standardized term plan with simple features for all
