LIC Term Plan Calculator 2026

LIC Term Plan Calculator is an online tool that can help you find out approximately how much premium you will be required to pay for a term insurance policy by Life Insurance Corporation of India (LIC). You provide personal information such as your age, income, and gender, as well as the policy details like sum assured (coverage amount) and policy tenure, and the tool gives an estimated premium amount.

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This makes it very convenient to compare different plan options without the need to go to a branch. Read on to learn more LIC term insurance premium calculator in detail:

What is the LIC Term Plan Calculator?

The LIC Term Plan Premium Calculator is basically an online tool which helps customers to calculate the approximate premium amount for 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 term: You can choose the duration of your LIC policy, 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.

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⁺

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.

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₹1 CRORE

Term Plan Starting @

Get an online discount of upto 15%^#

Compare 40+ plans from 15 Insurers

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What are the Advantages of Using the LIC Term Plan Calculator?

Here are a few benefits of the LIC term insurance premium calculator 2026:

Free of Cost: Using the online LIC term policy calculator, you can estimate the premiums of a term insurance plan free of charge.
Hassle-free: This calculator will help you quickly find the best price for life insurance. It gives results that are easy to understand, which makes it easier to make decisions when planning ahead.
Convenient: You can even calculate the premiums for the different plans offered by LIC of India on the very same platform.
Time Efficient: The LIC term plan calculator saves you time and effort by eliminating manual calculations.

Why Do We Need the LIC Term Insurance Calculator?

The LIC Term Insurance Calculator is important for 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: By using the LIC Term Plan calculator, one can figure out how much premium (monthly, quarterly, half, yearly, or yearly) they would have to pay, thus making it easier to allocate and budget as per one's income.
Plan Customization: With the help of LIC term insurance calculator, you can modify the plan features like policy term, sum assured, etc. very conveniently so that the premiums do not become a burden you cannot meet.

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: 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

LIC of India term insurance premium calculator is a very useful tool for an individual who wants to buy a term policy. It is very simple to use, you will get an instant premium estimate, and you will be able to compare different term insurance plans. In this way, customers are not only getting benefits but they are also able to make a decision which plan will be more suitable and affordable for them. For instance, if you are buying an LIC term insurance plan through this tool, you will be able to find the best one for your needs and budget.

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FAQs

Q1: How is LIC Term Insurance premium calculated?

Ans: Using the calculator on the official Life Insurance Corporation of India website, you can figure out your premium. Enter your age, the policy duration, and the amount of sum assured you want. Based on the details you provide, the tool instantaneously comes up with a premium estimate.
Q2: How does a LIC term plan calculator work?

Ans: LIC term plan calculator is a simple online tool that is at the disposal of the public on the Life Insurance Corporation of India website. You can calculate your premium simply by feeding your age, policy length, and coverage amount to the system. It will promptly provide you with a premium estimate and a personalized quote, thereby helping you make decisions that are well, informed.
Q3: How can I calculate my LIC policy amount?
Ans: Follow the steps given below to calculate the LIC policy amount:
- Step 1: Go to the LIC of India website.
- Step 2: Click on "Calculate Premium"
- Step 3: Fill out the required fields, like your name, date of birth, gender, etc.
- Step 4: Choose the name of your LIC plan.
- Step 5: Fill in your personal information, the length of your policy, the length of time you have to pay your premiums, and the amount of money you are guaranteed. Click on "Calculate" or "Illustration" to see the estimated premium, maturity value, and benefits of the plan you chose.
Q4: Are LIC term plan calculators free to use?

Ans: Yes, the LIC of India website has a number of free calculators that can help you figure out how much life insurance and investment plans will cost.
Q5: What is LIC 1 CR term insurance plan?

Ans: A 1 crore term insurance plan of Life Insurance Corporation of India means the insurance company will pay a life cover of Rs 1 crore for a fixed term. In case, if the policyholder dies anytime during the term of the policy, the nominee gets paid Rs 1 crore as death benefit.
Q6: What is a 2 crore LIC term plan?

Ans: A 2 crore term plan of Life Insurance Corporation of India means offering life coverage of Rs 2 crore for a selected policy term. If the insured person dies during the policy term, then the nominee is paid Rs 2 crore as a financial support.

Explore the popular searches and stay informed

˜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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