LIC New Term Assurance Rider — Features, Premium, Eligibility & Claim Process

The LIC New Term Assurance Rider is an optional rider that can be added to eligible LIC life insurance policies for an additional premium. It provides an extra term insurance cover over and above the base policy benefit, helping your family receive enhanced financial protection in case of the life assured's unfortunate death during the rider term.

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What is LIC New Term Assurance Rider?

LIC New Term Assurance Rider is a non-linked, non-participating pure risk term insurance rider offered by Life Insurance Corporation of India (LIC). It can be attached to selected LIC policies to increase the overall death benefit available to your nominee.

In simple terms, the term assurance rider LIC provides an additional sum assured that is payable on the death of the life assured during the rider term, subject to the policy terms and conditions. The rider has no maturity or survival benefits and works purely as an additional protection cover.

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@ Starting from ₹ 12/day⁺

Key Features of LIC New Term Assurance Rider

Feature	Details
Rider Type	Non-linked, non-participating pure risk rider
Benefit	Additional rider sum assured is payable on the death of the life assured during the rider term
Premium Payment	Rider premiums are payable along with the base policy premiums
Maturity Benefit	No maturity or survival benefit is available under the rider
Policy Requirement	Can only be added to eligible LIC base policies
Rider Term	Same as or less than the premium paying term of the base policy, subject to LIC conditions
Cover Type	Provides additional life cover over the base policy benefit
Tax Benefit	Tax benefits may be available as per prevailing income tax laws

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LIC Term Rider Eligibility Criteria

The eligibility conditions for the LIC term assurance rider depend on the underlying base policy and LIC's applicable rules.

Eligibility Criteria	Details
Entry Age	As per the terms of the selected base policy and LIC guidelines
Rider Sum Assured	Subject to LIC's minimum and maximum limits and the base policy conditions
Rider Term	Available within the limits prescribed for the selected base policy
Medical Requirements	May be applicable based on age, rider cover amount, and underwriting requirements
Availability	Can be chosen only with eligible LIC policies at the time of purchase or as allowed by LIC

LIC Term Rider Premium — Indicative Rates

The premium for LIC New Term Assurance Rider depends on multiple factors, including:

Age of the life assured
Rider sum assured selected
Policy term and premium paying term
Health and underwriting assessment
Terms of the base LIC policy

Since the rider premium varies based on individual details and policy conditions, the exact premium can be obtained through LIC's premium illustration or by contacting an authorised LIC representative.

Benefits of Adding LIC Term Assurance Rider

Adding a LIC term assurance rider can help you strengthen your family's financial safety net without purchasing a separate term insurance plan.

Additional life cover at a lower incremental cost: It allows you to increase your total death benefit by paying an extra rider premium instead of buying another individual policy.
Financial support for your family: The additional rider sum assured can help your loved ones manage daily expenses, future goals, outstanding loans, and other financial responsibilities.
Simple and convenient policy management: The rider remains attached to your existing LIC policy, making premium payments and policy administration easier.
Flexible protection based on your needs: You can choose a suitable rider sum assured within LIC's prescribed limits based on your protection requirements.
Enhances the overall value of your base policy: The rider complements your existing LIC life insurance plan by adding a layer of pure risk protection.

LIC Term Rider vs Standalone LIC Term Plan — Difference

Feature	LIC New Term Assurance Rider	LIC Standalone Term Insurance Plan
Nature	Add-on rider attached to a base policy	Independent term insurance policy
Purpose	Provides additional cover over the base policy	Provides dedicated high life insurance coverage
Availability	Only with eligible LIC plans	Can be purchased separately
Sum Assured	Subject to rider and base policy limits	Usually offers higher coverage options
Premium	Additional cost over the base policy premium	Separate premium based on chosen cover
Policy Continuity	Ends with the base policy or rider term	Continues independently as long as premiums are paid

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What is LIC New Term Assurance Rider?

LIC New Term Assurance Rider is an optional add-on that provides additional life cover over your eligible LIC base policy. The rider pays an extra sum assured to the nominee in case of the life assured's death during the rider term.

What does LIC term assurance rider cover?

The LIC term assurance rider provides an additional death benefit during the rider term. It does not offer any maturity or survival benefits.

How to add LIC term assurance rider to an existing LIC policy?

The LIC New Term Assurance Rider can be added only to eligible LIC policies, subject to LIC's terms and conditions. You should check with LIC or your LIC agent to confirm whether your existing policy allows the rider to be added.

LIC term assurance rider vs private insurer riders — which is better?

LIC term assurance rider offers additional life cover with eligible LIC policies, while private insurer riders may provide different coverage options, features, and pricing. The better choice depends on your coverage needs, budget, and the insurer's offerings.

How to claim LIC term assurance rider benefit?

The nominee must inform LIC about the death claim, submit the required claim form and supporting documents, and complete the claim verification process. Once approved, the rider benefit is paid as per policy terms.

What is the premium for LIC term assurance rider?

The premium for LIC term assurance rider depends on factors such as the life assured's age, rider sum assured, and rider term. The exact premium can be determined based on LIC's prescribed premium rates.

LIC Term Rider Claim Process

To claim the LIC New Term Assurance Rider benefit, the nominee needs to follow the standard death claim process.

Step 1: Inform LIC about the claim

The nominee should notify LIC about the death of the life assured and initiate the claim request.

Step 2: Submit the required claim documents

Commonly required documents include:

Claim form
Original policy documents
Death certificate
Identity and address proof of the nominee
Medical records, if applicable
Any other documents requested by LIC

Step 3: Claim verification

LIC reviews the claim details and verifies the documents submitted.

Step 4: Benefit settlement

Once the claim is approved, the rider sum assured is paid along with the applicable benefits under the base policy, as per the policy terms.

Note: Check all the best term insurance plan in India.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

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FAQs

Q: What is LIC New Term Assurance Rider UIN?

Ans: The UIN (Unique Identification Number) of LIC New Term Assurance Rider is 512B210V02.
Q: How much extra premium do I pay for LIC term rider?

Ans: The additional premium depends on factors such as your age, rider sum assured, policy term, and LIC's applicable premium rates. The exact amount is mentioned in the policy illustration at the time of purchase.
Q: Can I add LIC term rider to an existing LIC policy?

Ans: The availability of adding a LIC term assurance rider to an existing policy depends on the terms of the base policy and LIC's prevailing rules. In many cases, riders are generally chosen at the time of purchasing the base policy.

Author's Bio

Varun Agarwal Head - Term Insurance

Varun has spent years in the insurance space, but what drives him isn't policies or premiums — it's the conversations he's had with real people. A young father in Pune wondering if his salary is enough. A newly married couple in Jaipur putting off "the insurance talk" for later. A mother in Chennai who never knew her husband was underinsured until it was too late.
These stories stay with him. As Head of Term Insurance at Policybazaar, Varun knows the numbers well — 52.4% of Indians are aware of term insurance, yet only 9.6% own it. And 87% of families don't realise they're leaving their loved ones with far less protection than they actually need. But behind every statistic, he sees a family that just needed someone to sit with them, explain it simply, and help them take that one step. That's exactly what Policybazaar's term insurance is built to do. In his words, "Most people aren't avoiding protection — they're just waiting for someone to make it easy. That's what we're here for."

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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