Prices Increasing soon Prices Increasing Soon

LIC Term Insurance Plans

LIC term insurance plans can secure your family against any loss of income that the family might face in the absence of the policyholder. People favor these plans even though they do not offer any maturity. The LIC term plan allows insurance buyers to buy a high amount of coverage levels at very low premiums. This way, buying an LIC online term plan is an easy and time-saving process.

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:-

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

one crore term plan

Term Plans


Life Cover

@ Starting from ₹ 16/day+


Life Cover

@ Starting from ₹ 8/day+


Life Cover

@ Starting from ₹ 12/day+

LIC term plans do not burn a hole in the pocket and help an individual to fund his/her need for income replacement. An individual can buy these plans online or offline as per their convenience.

Benefits of LIC Term Plan

Listed below are some of the major advantages of availing LIC term insurance plans. Have a look:

  • High insurance coverage at an affordable premium rate.

  • The policy provides a rebate on the premium amount for non-smokers.

  • The policyholder has the flexibility to choose the sum assured amount of the policy.

  • The LIC term plan fulfills the requirements of the policy buyers ranging from a minimum of 18 years to a maximum of 75 years of age.

  • The LIC term insurance premium rates are flexible in terms of payment.

  • Offers additional rider benefits to enhance the policy coverage.

  • The policy enables the insured to have a good lifestyle while paying the premiums.

  • LIC online term insurance plans can be purchased easily and hassle-free.

  • LIC plans have a claim settlement ratio of 98.74%.

Different types of Plans

Types of LIC Term Insurance Plans

Plan Names Entry Age (Minimum to Maximum) Maturity Age Policy Term (Minimum to Maximum) Minimum Sum Assured
LIC New Tech-Term 18-65 years 80 years 10-40 years Rs. 5,00,000
LIC New Jeevan Amar 18-65 years 80 years 10-40 years Rs. 25,00,000
LIC Jeevan Kiran 18-65 years 80 years 10-40 years Rs. 15,00,000
LIC Saral Jeevan Bima 18-65 years 70 Years 5 - 40 Years Rs. 5,00,000

* You can use the LIC term insurance calculatorto get an estimate of the premiums you would need to pay for the desired LIC term plan.

The Life Insurance Corporation of India offers the best term insurance plans with different features and benefits. LIC online term plans can be purchased online at lower premium rates by visiting the company’s website. The LIC term plans can be bought through intermediaries. Here we have discussed in detail the different LIC term insurance plan and their features and benefits.

LIC New Tech-Term Plan

LIC New Tech Term is an online complete risk-proof plan that offers financial security to the policyholder's family in case of his death in between the policy tenure. If one wishes to avail of this LIC online term insurance, he/she can avail of this at his/her convenience at any point in time from anywhere across the globe.

  1. Features of LIC New Tech-Term Plan

    • The plan offers level sum assured and increasing sum assured options, you can select any of these.

    • You have the option to opt for a single premium, limited premium, or regular premium payment.

    • Option to choose the premium payment term and policy term. Besides, you also have the flexibility to pay in installment in regards to the payment of benefits.

    • The plan offers attractive premium rates for women.

    • You can avail of two categories of LIC term plan premium rates, namely smoker and non-smoker. Note that the rates in regards to the non-smoker category will depend upon the urinary test. Apart from this, in case of any other case, the smoker rates will be implied.

    • Have the alternative to opt for accident benefit rider and enhance the policy coverage by making an additional payment.

  2. Eligibility Details of LIC Tech-Term

      Minimum Maximum
    Entry Age 18 years 65 years
    Maturity Age NA 80 years
    Policy Term 10 years 40 years
    Sum Assured 50 lakhs No Limit
    Premium Payment Term Regular Premium- Same as Policy Term
      Limited Premium: For 10-40 years Policy Term- Policy term minus 5 years
      For 15-40 years Policy term- Policy Term minus 10 years
      Single-Premium: NA
    Premium Payment Frequency Yearly, Half-Yearly, Quarterly or Monthly

LIC New Jeevan Amar

LIC New Jeevan Amar is an offline pure protection plan that takes care of the financial liabilities of the insured's family in case of his/her demise while the policy is active.

  1. Features of LIC New Jeevan Amar Plan:

    • One can avail the advantage of high sum assured rebate.

    • Separate categories of LIC term plan premium rates for both smokers and non-smokers.

    • The alternative is to choose either an increasing sum assured benefit or a level sum assured benefit.

    • Option to easily choose the suitable policy term as well as premium paying term.

  2. Eligibility Details of LIC Jeevan Amar

      Minimum Maximum
    Entry Age 18 years 65 years
    Maturity Age NA 80 years
    Policy Term 10 years 40 years
    Sum Assured 25 lakhs No Limit
    Premium Payment Term Regular Premium- Same as Policy Term
    Limited Premium: For 10-40 years Policy Term- Policy term minus 5 years
    For 15-40 years Policy term- Policy Term minus 10 years
    Single-Premium: NA
    Premium Payment Frequency Yearly, Half-Yearly, Quarterly or Monthly

LIC Jeevan Kiran

LIC Jeevan Kiran is a term insurance plan that offers financial protection along with the option of receiving the premiums at the end of the policy term. You can also choose to pay the premiums in regular or single premiums. This plan can be purchased online or offline at your convenience.

  1. Features of LIC Jeevan Kiran Plan

    • The plan offers the benefit amount to the nominee in case of the policyholder’s unfortunate death during the policy term.

    • You will also be eligible to receive all the premiums paid on the survival or maturity of the policy term.

    • Enhance the policy cover with Accident Benefit Rider or Accidental Death Disability Benefit Riders.

    • The plan offers special premiums for non smoking customers.

  2. Eligibility Details of LIC Jeevan Kiran Plan

    Minimum Maximum
    Entry Age 18 years 65 years
    Maturity Age 28 80 years
    Policy Term 10 years 40 years
    Sum Assured 15 lakhs No Limit
    Premium Payment Term Yearly, Half-Yearly or Monthly (only under ECS/NACH)

LIC Saral Jeevan Bima

Saral Jeevan Bima by LIC is the standard life insurance plan. The plan is geared towards affordability. It aims to help policyholders make informed decisions. One can purchase this plan both online and offline.

  1. Features of LIC Saral Bima Plan

    • If the policyholder dies for any reason other than an accident and the policy is in the waiting period, the entire amount equivalent to all the premiums received apart from taxes will be paid.

    • If the policyholder dies due to an accident and has paid all the premiums, the sum assured will be paid to the nominee.

    • After 45 days (waiting period) of risk commencement, if the policyholder dies but has paid all the premiums, the sum assured will be paid to the nominee.

    • There is no maturity benefit applicable if the policyholder survives the policy term.

  2. Eligibility Details of Saral Jeevan Bima

    Minimum Maximum
    Entry Age 18 years 65 years
    Maturity Age NA 70 years
    Policy Term 5 years 40 years
    Sum Assured 5 lakhs 25 lakhs
    Premium Payment Term NA NA
    Premium Payment Frequency Yearly, Half-Yearly or Monthly (only under ECS/NACH)

LIC Term Plan Exclusions

Similar to other insurance policies, LIC term insurance also comes with specific exclusions. These are as follows:

  • One of the most important exclusions on the LIC term insurance plans is that the suicidal death of the insurance holder during the tenure of the policy is not covered under the plan.

  • However, suppose the policyholder commits suicide within the initial 12 months from the policy's starting date or the revival date. In that case, there is no death benefit paid to the beneficiary of the policy.

  • The beneficiary of the plan is eligible to receive 80% of the paid premium till then. Provides that all the LIC term insurance policy premiums are duly paid.

  • Besides, while buying a LIC term plan online, it is always recommended to read the policy document and get a proper understanding of the exclusions and inclusions.

LIC Term Insurance Riders

LIC term insurance plan offers the rider benefits to enhance the coverage of the policy. While buying any LIC term plan, it is better to opt for that extra layer of security in your plan. Let's take a look at the riders offered by the policy.

  1. LIC Accident Benefit Rider

    The Accidental Benefit Rider offered within LIC term plan can be decided on, by installment of extra premium, whenever inside the premium paying term of the Base Policy gave the remarkable premium paying term of the Base Policy just as Rider is, in any event, five years yet before the arrangement commemoration on, which the age closer birthday of Life Assured is 65 years.

    The advantage secured under this rider will be accessible during the remarkable premium paying term of the base policy or up to the policy commemoration on, which the age closer birthday of the Life Assured is 70 years, whichever is prior, given the LIC term insurance is in power on the date of the mishap.

  2. LIC New Critical Illness Benefit Rider

    Under this rider benefit, the insured person gets coverage for 15 critical illnesses, including cancer for specific severity, kidney failure, open chest CABG, blindness, stroke, permanent paralysis of limbs, Alzheimer's, third-degree burn, etc.

    Entry Age Maturity Age Premium Payment Sum Assured
    Minimum- 18 years 75 Years Regular pay, limited pay Minimum-Rs.1,00,000
    Maximum- 65 years     Maximum-Rs.25,00,000
  3. LIC New Term Assurance Rider

    This is a death benefit rider, which can be purchased along with the basic policy coverage. Under this rider benefit, an extra sum assured amount will be paid to the beneficiary of the LIC term policy along with the basic life insurance coverage in case of uncertain demise of the insured during the policy term.

    Entry Age Maturity Age Premium Payment
    Minimum- 18 years 75 Years Same as basic plan
    Maximum- 60 years    

one crore term plan

Secure Your Family Future Today


Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

Claim Settlement Process of LIC Term Insurance Plan

You can file a claim for bought LIC online term plan as well as offline plans. To file a claim, the policyholder is required to fill the claim form thoroughly and provide certain important documents such as:

  • Policy document of the LIC term plan.

  • Death certificate, which states the cause of death

  • Along with these documents, the nominee will have to provide a mandate so that the LIC can transfer the claim amount to the beneficiary's account through the NEFT process.

Once the beneficiary of the LIC term policy submits the claim form along with the important documents, the insurance company verifies the claim form. After verifying the form thoroughly, the insurance company processes the claim and transfer the benefit amount to the nominee's account.

Before zeroing in on the LIC term insurance plan, it is crucial to know the claim settlement process of the company so that an individual can easily process the claim in case of any eventuality.

Important Things to Consider When Buying a Term Insurance Plan

Term insurance is the only insurance product available in the pure insurance category. A term plan is the most basic life insurance plan since it covers only the risk of death. On the policyholder's death, the insurance company pays the sum assured to the nominees/beneficiaries.

LIC Term Insurance LIC Term Insurance

If the policyholder survives the LIC term insurance policy term, he/she or his/her nominees do not receive anything. Term insurance is also the cheapest type of insurance available as the premiums cover the risk of one's life. The following things should be kept in mind while buying a LIC term insurance plan:

  1. Coverage:

    One of the most important things for buying a LIC term plan is determining the amount of cover required. This depends on many factors, important ones being family's lifestyle, policy applicant's current life-stage, responsibilities, liabilities, inflation, etc. Assessed meticulously, one will be able to afford the plan such that the family will have sufficient funds in the unfortunate event of the policyholder passing away to continue living comfortably.

  2. Life-Stage and Number of Family Members:

    One has to understand that when buying a LIC term insurance plan is purchased not for the benefit of the policyholder but that of his/her family. A term plan is bought to ensure the financial protection of loved ones in the absence of the family's breadwinner. Thus, one has to consider who all are there in the family as the number of dependents in a family may vary at different stages in life. The financial or any other responsibilities of an unmarried/single person are very different from that of a married person and one with children. A term plan should be able to provide for family members.

  3. Ability to Maintain Lifestyle:

    The chosen LIC term plan should be such that it should allow the family to maintain the lifestyle they are used to even in the absence of the primary earning member of the family. The insurance amount (sum assured) under the LIC term insurance plan should adequately consider inflation, rising costs, expenses, and other such factors so that the needs and aspirations of the family are taken care of well.

  4. Claim Settlement Ratio:

    Most prospective buyers of a term plan, for that matter of any life insurance plan, are unaware of it or, worse, ignore the Claim Settlement Ratio even though it has far-reaching ramifications. Simply put, Claim Settlement Ratio (CSR) is the ratio of claims settled by the insurance company and total claims received by the insured company in a financial year. A higher claim settlement ratio indicates higher chances of the nominee/family receiving the claim amount after the passing away of the policyholder. The ratio is published annually by the Insurance Regulatory and Development Authority (IRDAI) and is generally available on the insurance company's website.

  5. Service Standards and Claim Settlement Process:

    A life insurance company should have an effective claim settlement process, i.e., it should settle claims quickly in a simple, hassle-free manner when the policyholder's family needs to help the most. This is important because the family will be under tremendous strain and emotional pain due to the loss of a family member. They require reassurance and support at this crucial time and no unpleasantness in claiming what is due to them. Quality customer service and positive experience at every customer touchpoint will go a long way in nurturing this long-term customer-insurance company relationship, adding trust and credibility.

How Can I Buy LIC Term Insurance Plan?

If you wish to buy a LIC term plan, it could be done in the following ways:

  1. Online:

    The company offers a plan called the e-Term Plan, which is available online only. The policy buyers only need to log into the company's website, select the LIC online term plan of their choice, choose the coverage amount, and provide the details. The premium of the LIC online term plan will be determined using the filled details. The customer then needs to pay the premium of the selected LIC online term plan online through credit card, debit card, or net banking facilities, and the policy will be issued.

    Intermediaries: LIC term plans, which are not available online, can be bought from brokers, agents, banks, etc., where the mediators help with the application process.

    However, it is always better to buy the LIC term plan online as it is quick and involves less hassle.

  2. Documents Required to Buy LIC Term Plan

    While buying the LIC online term insurance, certain documents should be kept handy. These are:

    • Age proof- passport, Aadhaar card, rental agreement, etc.

    • Identity proof- Aadhaar card, PAN card, passport, license.

    • Age proof- Aadhaar card, Matriculation certificate, and Birth certificate.

    • Income proof- salary slip or Income Tax Return.

    • Latest medical report.

LIC Term Insurance - FAQs

  • Ans: The LIC term insurance premium can be paid through different payment modes, namely:
    • Cheque/DD payment at the branch and related counters

    • Payment at the Axis Bank

    • Payment at the Corporation Bank

    • LIC Online Payment options

    • NEFT

    • ECS

    • AP Online

    • MP Online

    • Suvidha Infoserve

    • Easy Bill Pay

    • Premium point by empowered agents

    • Life Plus SBA

    • Retired LIC Employee collection

    • Phone Banking

    • Authorized Service Provider (in selected cities)

    • For the online payment mode, the policyholder can pay via;

    • Credit Card

    • Debit Card

    • Net Banking

  • Ans: For online registered users, they can check the policy status of their LIC term plan by logging intthe e-Portal. Alternatively, visit the branch personally tknow the policy status of your LIC term plan.
  • Ans: For renewing the LIC term plan online, follow these easy steps;
    Step1: Enter your Client ID and Date of Birth tlogin inte-portal
    Step2: Choose the LIC term plan and payment option (Net Banking/Debit/Credit Card)
    Step3: Print/save the premium deposit receipt on successful payment completion.
    Alternatively, you can pay via cheque at any of the nearest LIC branches in your city. Besides, you can always look for different LIC policies online.
  • Ans: The nominee can personally visit the branch for claim settlement of any LIC term plan, and the customer service desk will help you there.
  • Ans: For the cancellation of the policy, you can visit the branch personally.
  • Ans: Yes, it is possible tbuy a LIC term policy online. All you need tdis visit the company's official website and base your needs zerdown the LIC term policy online.

Term insurance articles

  • Recent Article
  • Popular Articles
15 Feb 2024

ICICI 75 Lakh Term Insurance

Ensuring the financial well-being of your family requires

Read more
15 Feb 2024

ICICI 70 Lakh Term Insurance

Securing your family's financial future demands thoughtful

Read more
15 Feb 2024

Kotak 70 Lakh Term Insurance

Ensuring the financial well-being of your family requires

Read more
15 Feb 2024

Kotak 1 Crore Term Insurance

In the realm of financial planning, ensuring the well-being of

Read more
14 Feb 2024

HDFC 75 Lakh Term Insurance

Taking care of your family's financial future means planning

Read more
07 Mar 2014

1 Crore Term Insurance - Buy ₹1 Cr Term Insurance Plan...

Term insurance is a type of insurance plan that offers financial security to your loved ones in the event of your

Read more
27 Jun 2018

What Is Difference Between Term Insurance And Life Insurance

Life insurance plans help you create wealth, protect your family for the entire policy term, and save on your

Read more
12 Jun 2018

Claim Settlement Ratio of Term Insurance Plan Providers

Claim Settlement Ratio (CSR) is an important parameter in the selection of an insurance policy. If you are going

Read more
24 Mar 2020

LIC Term Insurance 1 Crore

LIC of India offers various plans to help you secure the financial future of your loved ones. To ensure your

Read more
20 Aug 2014

Term Insurance for Women in India

Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and

Read more

LIC Term Insurance Reviews & Ratings

4.6 / 5 (Based on 26 Reviews)
(Showing Newest 10 reviews)
Chalakudy, April 16, 2021
Easy claim settled
I bought the Lic India term plan from the suggestion of my family friend and he recommended me a lot of plans. He said that the claim settlement ratio is quick and easy. Also, it is protective plan.
Asifabad, April 14, 2021
Additional riders
Along with my Lic India term insurance plan I have got the additional riders too. It has been an important thing for me and can be useful at any point in time. It can be added with a minimal amount.
Lakhimpur Kheri, April 13, 2021
Tax rebate
I bought a Lic India term insurance policy online and it has been into my budget. Also, I like one thing that I would able to get the tax benefits under it. It is a good option and can be beneficial for all tax payers.
Raghunathpur, April 09, 2021
Happy customers
I am one of the happiest customer of Lic India term plan and I have found various good deals. It is the plan which has come under my budget. And it has been a protective shield for me and my family.
Agra, April 07, 2021
Good plan
I like my Lic India term plan from the online market and I found the solace in this plan. It is a good thing to support yourself by getting the best term plan so secure the life.
Babina, March 23, 2021
Additional riders and benefits
It is a good idea for everyone to buy a LIC term plan as I have got the additional riders too under the same. The plan is very nice and much helpful.
Anantnag, March 22, 2021
Tax benefits
With this LIC term insurance plan I received a tax rebate and tax benefits. I found it much better as compared to other plans and it’s a kind of coverage and investment for me. I am totally happy with this plan and found it worthy.
Mawana, March 16, 2021
Secure your family
I have secured my family by buying a LIC term insurance plan. It is a long term plan with a lot of benefits under the same. At-least I will be satisfied that my family will safe and financially secured after I am not around. It’s a great plan under my budget.
Baleshwar, March 02, 2021
Premium payment is easy
It’s really easy to pay for the premium amount of my lic India term plan. Also, I pay it online because it is transparent in nature. I bought this plan like about 4 years back and continuing it for its safety purposes.
Bablabona, February 22, 2021
Sufficient plan
I have recently bought a lic India term insurance plan and it has been a wonderful plan for me and my family. A sufficient plan for the safety and security of my family. It has given me few benefits too which makes the plan a wonderful.
View Plans
Download the Policybazaar app
to manage all your insurance needs.