LIC Digi Term Plan

LIC Digi Term Plan (876) is a term insurance plan designed to provide financial protection to the insured’s family in case of their unfortunate death during the policy term. Also, the plan offers guaranteed and fixed death benefits. The plan is available for online purchase and can be purchased directly through the official website.

51 Partners Insurance Partners

10.5 Crore Registered Consumer

5.3 Crore Policies Sold

We are rated ++ rating

₹1 Crore Life cover starting from ₹478/month⁺

Lowest Price Guarantee ^˜

Male

Female

Name

Date of Birth (DD/MM/YYYY)

Mobile Number

Check Your Premium Now

Get Updates on WhatsApp

LIC Digi Term Plan - An Overview

LIC Digi Term Plan is a newly launched term insurance plan offered by the LIC of India that provides financial protection to your loved ones after your unfortunate demise. The plan offers flexibility in choosing the death benefit option. In addition to this, the plan also allows the policyholder to select policy terms and premium paying terms as per their requirements.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

Key Features of LIC Digi Term Plan

Choose between Level Sum Assured and Increasing Sum Assured Death Benefit options.
Select from Single, Regular, or Limited Premium Payment and decide on Policy Term/Premium Paying Term.
Opt for benefit payment in installments for added flexibility.
Enjoy special rates for women and an attractive High Sum Assured Rebate.
Benefit from non-smoker premium rates, determined by a urinary cotinine test, with smoker rates applied otherwise.

Eligibility Criteria of LIC Digi Term Plan

Parameters	Minimum	Maximum
Entry Age	18 years	45 years
Maturity Age	33 years	75 years
Sum Assured	Rs. 50 Lakhs	Rs. 5 Crores
Policy Term	15 years	40 years

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

Benefits of LIC Digi Term Plan

Below are some benefits the nominee will receive after the policyholder's death.

Death Benefit:

The Death Benefit is payable to the nominee on the death of the Life Assured during the policy term, provided the policy is in force, and premiums are duly paid. The "Sum Assured on Death" for Regular and Limited Premium Payment policies is the highest of:
- 7 times the Annualized Premium
- 105% of Total Premiums Paid up to the date of death
- Absolute amount assured to be paid on death.
  
  The "Sum Assured on Death" for Single Premium Payment policies is the higher of:
- 125% of the Single Premium
- Absolute amount assured to be paid on death.
The Absolute amount assured to be paid on death depends on the chosen Death Benefit Option:

Option I: Level Sum Assured: The Absolute amount is equal to the Basic Sum Assured, which remains constant throughout the policy term.

Option II: Increasing Sum Assured: The Absolute amount starts as the Basic Sum Assured and increases by 10% of the Basic Sum Assured each year from the sixth policy year until it reaches twice the Basic Sum Assured by the fifteenth policy year. From the sixteenth year onwards, it remains at twice the Basic Sum Assured until the end of the policy term or the Date of Death, whichever is earlier. The chosen Death Benefit Option cannot be changed later.
Maturity Benefit:

No maturity benefit is payable on survival of the Life Assured to the end of the policy term.
Death Benefit in Installments:

The Death Benefit can be received in installments over a period of 5, 10, or 15 years instead of a lump sum amount. This option can be exercised during the Life Assured's lifetime for full or part of the Death Benefits. Installments can be paid yearly, half-yearly, quarterly, or monthly. Minimum installment amounts are Rs. 5,000 monthly, Rs. 15,000 quarterly, Rs. 25,000 for half-yearly, and Rs. 50,000 for yearly payments. The claim proceeds will be paid as a lump sum if the Net Claim Amount does not meet the minimum installment amount.

Sample Premium Illustration of LIC Digi Term Plan

The sample illustrative premiums for Option I (Level Sum Assured) and Option II (Increasing Sum Assured) for Basic Sum Assured of Rs. 50 Lakh for Non-Smoker, Male under different Premium Payment options are as under:

Option I (Level Sum Assured):

Age	Policy Term	Regular Annual Premium (in Rs.)	Annual Premium for Limited Premium Paying Term of 15 Years (in Rs.)	Annual Premium for Limited Premium Paying Term of 10 Years (in Rs.)	Single Premium (in Rs.)
20 years	20 years	3,600	4,100	5,200	37,750
30 years	20 years	4,700	5,400	6,950	50,850
40 years	20 years	9,400	10,850	14,050	1,04,900

Option II (Increasing Sum Assured):

Age	Policy Term	Regular Annual Premium (in Rs.)	Annual Premium for Limited Premium Paying Term of 15 Years (in Rs.)	Annual Premium for Limited Premium Paying Term of 10 Years (in Rs.)	Single Premium (in Rs.)
20 years	20 years	4,650	5,350	6,850	5-.100
30 years	20 years	6,600	7,650	9,850	72,950
40 years	20 years	14,400	16,750	21,700	1,63,250

What is Not Covered in the LIC Digi Term Plan?

Suicide within 12 Months: If the life assured commits suicide within 12 months from the date of commencement of risk or the date of policy revival (for Regular/Limited Premium Policies) or within 12 months from the commencement of risk (for Single Premium Policies), only 80% of the total premiums paid (excluding extra premiums, rider premiums, and taxes) will be refunded.

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

People also search for

What is Term Life Insurance

FAQs

Q: What is the LIC Digi Term Plan?

Ans: The LIC Digi Term Plan 876 is a digital term insurance policy offered by LIC that provides a sum assured in case of the policyholder’s death during the policy term. It is designed to provide financial security to the policyholder's family with flexible premium payment options.
Q: What premium payment options are available under LIC Digi Term Plan- 876?
Ans: The policyholder can choose from:
- Single Premium
- Regular Premium
- Limited Premium Payment
Q: Can I change the Death Benefit Option once selected?

Ans: No, it cannot be changed later once the Death Benefit Option is chosen.

Different types of Plans

Term Insurance

View Plans

Life Insurance

View Plans

List of Term Insurance Companies

View Plans

TROP

View Plans

Term Insurance For Senior Citizen

View Plans

Term Insurance For Spouse

View Plans

Term Insurance For Family

View Plans

Term Insurance For NRI

View Plans

List of Term Insurance Plan

View Plans

Life Insurance Corporation of India

View Plans

What is Term Insurance?

View Plans

Term Insurance Calculator

View Plans

1 Crore Term Insurance

View Plans

2 Crore Term Insurance

View Plans

Explore the popular searches and stay informed

˜Top 5 plans based on annualized premium for bookings made through https://www.policybazaar.com in the first 6 months of FY 24-25.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

+Rs. 487/month (Rs.16/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 38 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.

+Rs. 820/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 38 years of age.

+Rs. 1,443/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 38 years of age.

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