LIC Term Plan Calculator

A LIC Term Plan Calculator is an online tool that helps you estimate the premium you will pay for a Life Insurance Corporation of India (LIC) term insurance policy. You enter personal details such as your age, income, and gender along with the policy details like sum assured (coverage amount) and policy tenure, and the tool provides an estimated premium cost. This allows for easy comparison of different plan options without needing to visit a branch.

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What is LIC Term Plan Calculator?

The LIC Term Plan Premium Calculator is an online tool designed to help customers estimate the premium rate of LIC Term Insurance Policies. It can be used easily and hassle-free. To calculate the policy's premium rate, one just needs to enter relevant information in the LIC term insurance calculator, which then computes the premiums based on the information provided.

How does the LIC Term Plan Calculator Work?

Enter your details: Provide details such as your age, gender, income, smoking status, and desired coverage amount.
Choose policy terms: You can choose the policy term, premium payment term, and premium payment frequency
Get an estimate: The calculator calculates the estimated premium for the plan you have selected based on your inputs.

Details Required to Use LIC Term Plan Calculator

Following are the details you will have to provide for using the Life Insurance Corporation term plan premium calculator:

Name
Date of Birth (DOB)
Gender
Contact Details
Smoker/non-smoker declaration
Policy term
Sum Assured Amount
Sum Assured Option, if applicable
Premium paying term
Once you enter all the details, click on 'Quick Quote'. This displays the yearly, half-yearly, quarterly, and monthly premiums.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

What are the Benefits of the LIC Term Plan Calculator?

Here is a list of benefits of using the LIC term insurance calculator 2025:

Free of Cost: The LIC term policy calculator can be used online to calculate the estimated premiums of term insurance plan free of cost.
Hassle-Free: The LIC term insurance premium calculator is a hassle-free tool that allows you to easily calculate the right premium amount for your desired life cover.
Convenient: You can conveniently calculate the premiums for various plans offered by LIC of India, , all on the same platform.
Time and Energy Efficient: The LIC term plan calculator saves you time and the energy you would otherwise spend on calculating premiums manually.
Transparency: The LIC term insurance premium calculator displays the premium, sum assured, policy term, and other key benefits upfront, allowing users to compare options clearly and make informed decisions without hidden charges or conditions.

Why Do We Need the LIC Term Insurance Calculator?

We need the LIC term insurance premium calculator because of the following reasons:

Select the Right Life Cover: The LIC term insurance calculator helps determine the sum an individual will need to secure the family's financial future.
Accurate Results: The calculation done by the LIC term insurance premium calculator ensures that the computed premium is clear and provides a relevant picture of the actual cost.
Compare and Buy: The LIC term insurance calculator can be used multiple times to see how the premium varies across different factors and compare it with other plans.
Helps with Financial Planning and Budgeting: The LIC Term Plan calculator helps users calculate the monthly, quarterly, half-yearly, or yearly premium they will have to pay, allowing them to allocate and budget according to their earnings.
Plan Customization: The LIC term insurance calculator allows you to easily customize plan details like policy term, sum assured, and other such details to ensure that the premiums fit within your budget.

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @

Get an online discount of upto 15%^#

Compare 40+ plans from 15 Insurers

⁺Standard T&C Applied

Sample Illustration Using LIC Term Plan Calculator

Let us understand how the LIC term plan calculator works and what results it generates based on these considerations:

The inputs in the Premium Calculator for the LIC Term Plan Calculator Policy are:

Parameters	Policy Details
Policy name	LIC Tech-Term
Sum Assured	Rs.1 Crore. (Minimum: Rs.50 Lakh Maximum: No limit)
Applicant's age	30 years. (Minimum Entry Age: 18 years Maximum: 65 years)
Policy Tenure	20 years. ( 10 to 40 years)
Rider Chosen	No

The annualized premium payable for the above parameters of the LIC Tech Term plan is in the Level Sum Assured option:

Premium Payment Term	Premiums
Regular Premium:	Yearly: Rs. 9,135 Half-Yearly: Rs. 4,672
Ten-year limited premium:	Yearly: Rs. 10,527 Half-Yearly: Rs. 5,384
Fifteen-year limited premium:	Yearly: Rs. 10,527 Half-Yearly: Rs. 5,384
Single premium:	Rs. 1,00,833

The annualized premium payable for the same policy details if the chosen option is the Increasing Sum Assured:

Premium Payment Term	Premiums
Regular Premium:	Rs. 13,083
Ten-year limited premium:	Yearly: Rs. 19,669 Half-Yearly: Rs. 10,055
Fifteen-year limited premium:	Yearly: Rs. 15,219 Half-Yearly: Rs. 7,78
Single premium:	Rs. 1,47,562

The LIC New Tech term premium calculator operates similarly to a standard LIC calculator, providing detailed premium estimates for various payment options and illustrating how the premiums can be incorporated into the budget.

Factors Affecting the LIC Term Insurance Premium Rates

The premium rates of a term insurance policy are determined based on various factors. Some of these factors are:

Age Factor: LIC term plan premium rates increase with age due to increased risk to life.
Coverage Amount: The LIC term plan premiums are higher for a higher sum assured.
Lifestyle Choice: LIC offers lower premium rates for non-smokers as it decreases their chances of lung cancer.
Gender: LIC offers lower premium rates for female customers as they have a longer life expectancy.
Premium Payment Mode: Different premium payment modes will have different premiums. For example, annual premium payment modes will have a higher premium amount than monthly premium modes.
Occupation Risk: People who work in high-risk jobs will have higher premiums than those who work in low-risk jobs.
Health Conditions: People with pre-existing illnesses or medical conditions may be charged higher premiums due to their reduced mortality.

How to Use LIC Term Insurance Premium Calculator?

Using the LIC Calculator for estimating premium and benefits payable can be done in a few easy steps. The calculator is available at LIC’s official website. Although there is no plan specific calculator available, you get an option to choose your desired plan and then proceed with the calculation. Here are the steps to follow:

Step 1: Go to the official LIC website and scroll down to “How Much Do You Need?” section.

Step 2: Click on Calculate Premium and continue to the external link of LIC Digital.

Step 3: Insert basic details such as name, age, gender, etc. Click “Next” and the Click “Quick Quote”.

Step 4: Select your desired LIC term plan and click on “Coverage”

Step 5: Provide the plan-specific details such as Sum Assured option, amount, policy term, premium payment term, etc. Also declare if you are a Smoker or a Non-smoker. Click on “Quote”

The LIC term plan calculator will compute the premium amounts based on the details you provide. You can also get a detailed illustration of this calculation from the same menu along with the benefits payable.

Summing Up

The LIC of India term insurance premium calculator is an essential tool for anyone planning to buy a term policy. Its ease of use, instant premium estimates, and comparison features empower customers to make informed decisions, ensuring they choose the most suitable and affordable LIC term insurance plan.

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FAQs

Q: How is LIC Term Insurance premium calculated?

A: The premium for LIC term insurance can be calculated using the LIC term insurance calculator available on the official LIC of India website. By providing key details such as age, policy term, and sum assured, the tool provides an estimated premium.
Q: How does a LIC term plan calculator work?

A: The LIC term plan calculator is an easy-to-use online tool that helps estimate the premium for your desired LIC term policy. Simply enter essential information such as age, policy duration, and coverage amount, and the LIC calculator computes the payable premium instantly. The term plan LIC premium calculator factors in your details to offer a tailored estimate, helping you make an informed decision.
Q: How to calculate LIC term insurance premium?

A: To calculate your LIC term insurance premium, visit the LIC website and use the LIC term policy calculator. Enter your age, gender, preferred sum assured, and policy term. The life insurance corporation term plan premium calculator will generate a quote based on this data. You can compare different options and add riders if needed, using the term insurance LIC premium calculator.
Q: How can I calculate my LIC policy amount?

A: Use the LIC calculator to estimate the value of your policy, whether it’s a term plan, endowment, or pension scheme. Here’s how:
Go to the LIC website and scroll down to “Calculate Premium” section
Input details such as name, age, gender, etc. Select the desired plan
Input details such as policy term, sum assured, premium payment term, etc
Instantly view premium amounts, projected maturity values, and other benefits, if any.
Q: : Are LIC term plan calculators free to use?

A: Yes, all LIC term plan calculators are free to use. Whether you're using the LIC term plan calculator to estimate your premium or for the investment plus insurance plans, there are no fees involved.

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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. 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.

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.