Prices Increasing soon Prices Increasing Soon

LIC Tech Term Plan

The LIC Tech Term Plan is a term insurance policy that offers financial protection to the nominee upon the policyholder's death within the specified term. The plan has special rates for women and different rates for smokers and non-smokers. However, the plan is no longer available as the company withdrew it. 

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.

LIC Tech Term Plan- An Overview

LIC Tech Term is a non-participating, non-linked pure risk premium plan offered by the LIC of India that provides financial security to the insured family in case of any eventuality. The plan offers flexibility to the policyholders and allows them to choose the premium payment term at their convenience. In addition to this, the plan also offers special premium rates for females and non-smokers.

 However, this plan has been withdrawn by the company, and in its place, LIC introduced the LIC New Tech Term, which offers financial protection to your loved ones in case of your unfortunate demise.

one crore term plan

Term Plans


Life Cover

@ Starting from ₹ 16/day+


Life Cover

@ Starting from ₹ 8/day+


Life Cover

@ Starting from ₹ 12/day+

Eligibility Criteria of LIC Tech Term Plan

The following are the eligibility criteria of the policy:

Parameters Details
Policy Tenure 10-40 years
Premium Payment Term Regular Payment- Same as policy tenure Limited Payment- Policy minus 5 years (for 10-40 years policy tenures) Policy tenure minus 10 years (for 15-40 years policy tenure)
Premium Payment Mode Regular & Limited Pay - Half Yearly and Yearly
Entry Age Min - 18 years Max - 65 years
Maturity Age 80 years
Sum Assured Minimum- Rs 50,00,000 Maximum – No limit

Benefits Offered by LIC Tech Term Plan

The following are the benefits offered by the LIC Tech Term Plan:

  1. Death Benefit

    In case of the policyholder's unfortunate demise, the beneficiary receives a lump sum payment equal to 7 times the annualized premium or 105% of the premiums paid till death, whichever is higher.
    The policyholder can opt for the absolute sum assured at death at the time of policy inception between two types: level sum assured or increased sum assured. The beneficiary can take the death benefit in instalments over 5, 10, or 15 years.

  2. Surrender Benefit

    The LIC Tech Term Plan does not support traditional surrender value. In case of policy surrender in both level sum assured or increasing sum assured options, an amount shall be refunded to the policyholder.

  3. Tax Benefits

    Standard income tax benefits* are available on the returns of this plan.
    * Tax benefit is dependent on changes in tax laws

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

Optional Benefits 

  1. Accident Benefit Rider:

    Opt for additional financial protection in case of accidental death. The rider ensures a lump sum payout of the Accident Benefit Rider Sum Assured along with the death benefit under the base plan, with the premium not exceeding 100% of the base plan premium.

  2. Installment Payment of Death Benefit:

    Choose to receive death benefits in installments over 5, 10, or 15 years instead of a lump sum. The payout frequency can be customized to your needs, and the option ensures financial stability for your family. Minimum installment amounts vary based on the chosen mode of payment.

*Note: You can quickly use the term insurance calculator to calculate your term insurance premium amount.

Premiums for LIC Tech Term Plan

LIC Tech Term Plan is activated through a single premium, regular, or limited payment plan. The minimum payment amount for a Single Premium payment is *Rs. 30,000. The minimum premium amount for Regular and Limited pay is *Rs. 3,000. 

*Standard T&C Apply

As in the case of all LIC policies, rebates are available on the premium amount for payments made in yearly and half-yearly mode. The yearly mode of premium payment received a 2% rebate on the tabular premium, and the half-yearly payment received a 1% rebate in tabular premium. The details are available online on the official website of the Life Corporation of India.

How To Buy LIC Tech Term Plan Online?

You can easily buy LIC Tech Term Plan online. To purchase the plan, one has to visit the LIC official website and select the LIC Tech Term Plan in the Purchase Plan Online Dropdown. Follow the steps and submit your documents. Further, make the payment to activate your policy instantly. 

The Policy document has to be uploaded after scanning, and the policy gets activated instantly. It is an easy process and does not necessarily require the assistance of a LIC agent.

*Note: It is recommended that you firstly understand what is term insurance before you proceed onto buying the LIC Tech Term Plan online.

Documents Required to Purchase LIC Tech Term Plan

To buy LIC Tech Term Plan policy, one has to provide:

  • Identity proof - passport, Adhaar card, voter ID

  • Address proof - Adhaar, driving license, ration card, electricity bill, voter ID, and passport

  • Income proof - salary slips or IT returns

Exclusions of LIC Tech Term Plan

LIC Tech Term Plan reviews show that the plan is ideal for the urban Indian who needs to invest quickly in this fast-paced life. They can ensure protection for his family in the sad incident of his death.

The suicide clause is applicable under this plan and the standard LIC rules are followed. Single premium plans allow a 90% refund of the premium amount if the suicide happens within 12 months of commencement of risk. 

In the case of regular and limited pay plans, 80% of the premiums paid till death are refunded, provided the suicide is within the first 12 months of commencement of policy or revival of the policy. 

You May Also Like to Read: Term Insurance Plan

LIC Tech Term Plan - FAQs

  • Can we check the LIC Tech Term Plan policy status online?

    A. Yes, the policy status can be requested online. The status is emailed to you. You can also check it by visiting the nearest LIC branch. 
  • I want to change my premium payment term. Does LIC Tech Term Plan allow that?

    A. Please check for the option if it is available online, or else you can easily adjust by making a written request and submitting it to the nearest LIC branch. 
  • Does the LIC Tech Term Plan policyholder get any maturity benefit if he survives the policy tenure?

    A. NO, there is no maturity benefit under this plan.
  • I want to use the LIC Tech Term Plan Calculator. Can I find it online?

    A. LIC provides online calculators for various plans on its official website. To use the LIC Tech Term Plan calculator, visit the official website and input relevant details like age, sum assured, and policy term on the calculator page to get an estimate of premiums.
  • Does a revived policy under LIC Tech Term Plan qualify for a rebate in premium amount?

    A. Yes, rebates to premium are applicable to revived policies if the yearly or half-yearly payment mode is continued as per base policy.  
  • What does LIC Tech Term Plan have on offer for women? 

    A. Women applicants are given special rates of the rebate, and Absolute Sum Assured is higher.
Premium By Age

Term insurance articles

  • Recent Article
  • Popular Articles
05 Jun 2024

Why Should You Consider Inflation When Buying a...

The retail inflation of India rose to 5.69% in December 2023

Read more
29 May 2024

Term Insurance for Individuals with 25K Salary

Securing your family's future is essential, especially when

Read more
28 May 2024

'Har Family Hogi Insured' Policybazaar's Vision...

Empowering Every Household: policybazaar's Commitment to

Read more
23 May 2024

Term Insurance for Individuals with a 35K Salary

Securing your financial future is essential, especially when

Read more
07 May 2024

Term Insurance for 45K Salary Individuals

In life, unpredictability looms large, and while you may

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
03 Dec 2020

What Is Saral Jeevan Bima

Saral Jeevan Bima (SJB) is a simple term insurance plan that offers financial protection for policyholder’s

Read more
13 Apr 2021

2 Crore Term Insurance Plan

2 Crore term insurance provides cover amount of 2 Crore as death benefit to your family in the event of your

Read more
07 Mar 2023

TATA AIA Smart Sampoorna Raksha Param Rakshak Plus

TATA AIA Smart Sampoorna Raksha Param Rakshak Plus is a comprehensive life insurance policy for individuals

Read more
Need Help? Request Callback
View Plans
Download the Policybazaar app
to manage all your insurance needs.