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LIC of India offers various insurance plans to protect your loved ones' financial future. If you want to ensure your family's stability and help them achieve their goals, 1 Crore LIC Term Insurance is an excellent choice.
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These plans provide a life cover of Rs. 1 Crore, ensuring your family remains financially secure during your untimely demise during the policy term. Let's explore the eligibility criteria and key policy details of the LIC term insurance 1 Crore plans.
The Life Insurance Corporation of India (LIC) offers a variety of term insurance plans with a sum assured of Rs. 1 Crore or more, providing comprehensive financial security at affordable premiums. These policies are designed to offer pure risk protection, ensuring that in the unfortunate event of the policyholder's demise during the policy term, their family receives a ₹1 crore death benefit.
This payout can help cover daily living expenses, medical emergencies, outstanding loans, or any unforeseen financial needs, ensuring your loved ones maintain their standard of living. If you are the sole breadwinner, opting for term insurance with a 1 Crore payout is important to safeguard your family's financial future.
Check out the eligibility criteria for all the LIC term insurance Rs. 1 Crore plans below:
| 1 Crore Term Insurance Plan Name | Entry Age | Max. Maturity Age | Sum Assured | Policy Term |
| LIC New Tech Term | 18-65 years | 80 years | Rs. 50 Lakhs- No Limit | 10-40 years |
| LIC New Jeevan Amar | 18-65 years | 80 years | Rs. 25 Lakhs- No Limit | 10-40 years |
| LIC Digi Term Plan | 18-45 years | 75 years | Rs. 50 Lakhs - 5 Crores | 15-40 years |
| LIC Digi Credit Life | 18-45 years | 75 years | Rs. 50 Lakhs - 5 Crores | 5-30 years |
| LIC Yuva Term Plan | 18-45 years | 75 years | Rs. 50 Lakhs - 5 Crores | 15-40 years |
| LIC Yuva Credit Life | 18-45 years | 75 years | Rs. 50 Lakhs - 5 Crores | 5-30 years |
*You can estimate the premiums you need to pay using a term insurance calculator or an LIC term insurance premium calculator.
Note: Check out the best term insurance plan in India and choose one that suits your requirements.
LIC Tech Term is a pure protection plan offering a sum assured of Rs. 1 Crore or more to secure your family's future. This plan is available exclusively online through LIC's official website.
Two death benefit options are available in this term insurance policy: Level Sum Assured and Increasing Sum Assured.
Special term insurance premium rates for women and non-smoking customers
The 1 Crore term insurance LIC also offers a rebate on term insurance plans with a sum assured of Rs. 1 Crore and more.
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LIC New Jeevan Amar is a pure-term insurance plan designed to provide financial security to the policyholder's family in case of an untimely demise. It offers flexibility in premium payments, death benefit options, and policy terms to suit individual needs.
Key Features:
The 1 Crore Term Insurance plan offers two death benefit options: Level Sum Assured and Increasing Sum Assured.
Premium payment options include Single-Premium, Regular-Premium, and Limited-Premium.
The plan offers lower Premiums for Non-Smokers
LIC Digi Term Plan is a comprehensive term insurance policy offered by the Life Insurance Corporation of India to provide financial security to your family in case of an unfortunate event. This plan offers flexibility in choosing the sum assured, premium payment options, and policy terms, ensuring coverage that meets your needs.
Key Features:
Choose between Level Sum Assured and Increasing Sum Assured death benefit options.
Multiple premium payment options: Single, Regular, or Limited Premium payments.
Benefit payment flexibility: opt for a lump sum or installments over 5, 10, or 15 years.
LIC Digi Credit Life is a term insurance plan designed to cover outstanding loans in case of the policyholder's death, ensuring financial security for their family.
Key Features:
The plan offers loan protection with coverage aligned to loan tenure.
You can choose flexible premium payment options (single and limited premium).
Affordable premiums with rebates for high sum assured.
LIC Yuva Term Plan is designed to secure your family's financial future in case of your untimely demise. It offers guaranteed death benefits and flexible premium payment options and is available only through offline channels.
Key Features:
The plan offers Level or Increasing Sum Assured for death benefit flexibility.
Multiple premium payment options – Single, Regular, or Limited Premium.
One can receive death benefits in installments over 5, 10, or 15 years.
LIC Yuva Credit Life is a term insurance plan by LIC of India designed to provide financial security against outstanding loans. It ensures that in the event of the policyholder’s death, their family is not burdened with unpaid liabilities.
Key Features:
The death benefit decreases over time, aligning with the loan repayment schedule.
Choose between Single Premium or Limited Premium Payment options.
Lower premium rates for women and non-smokers.
Term Plans
Below-mentioned are some of the 1 Crore term insurance LIC benefits. Have a look:
Wide Cover of 1 Crore
After your demise, your family will be financially handicapped. To ensure that your family continues to live independently, having a 1 Crore term insurance can prove to be helpful.
Affordable Premiums
The LIC 1 Crore term insurance premiums are pocket-friendly compared to other plans. For example, if you are a 30-year-old individual and decide to buy an LIC New Tech Term Plan, you can secure your family's future by paying 1,500 Rs per month.
Tax Saving Benefits
The premiums paid against the LIC term insurance 1 crore are eligible to avail of term insurance tax benefits under Section 80C of the Income Tax Act,1961.
Choosing the best LIC term insurance plan for Rs. 1 Crore is essential to ensure your family's financial security in your absence. Here's how to select the most suitable LIC Rs. 1 Crore term insurance plan online:
Assess your financial needs and requirements: Understand your family's future expenses, lifestyle, and financial liabilities, such as home loans, EMIs, and education costs. The sum assured from the LIC policy should replace your income and adequately support your dependents.
Premium rates of ₹1 crore LIC term insurance: Ensure the premium is affordable based on your income. LIC offers trusted coverage with competitive premiums, and choosing a plan you can sustain long-term is key.
Keep inflation and cost of living in mind: LIC term plans often cover you for 25–40 years. Ensure the ₹1 crore coverage accounts for rising inflation and future living costs to keep your family financially secure for decades.
Looking at what is term insurance can help you understand the benefits and features of the plan. However, to help you understand it better, let us take a look at the following example:
Amit decided to buy LIC Term Insurance of Rs. 1 Crore. In the table below, we have showcased the premiums one needs to pay in different age groups under the best LIC term insurance plan:
| Age of the Policyholder | Premium Payable (Annually) | |
| LIC New Tech Term | LIC New Jeevan Amar | |
| 25 years | 14,475 | 21,329 |
| 30 years | 18,992 | 27,878 |
| 40 years | 38,647 | 57,237 |
A Rs. 1 Crore LIC Term insurance plan offers life cover at affordable premiums, making it a smart financial safety net. Here's who should consider buying it:
| Who Should Buy | Why Choose Rs. 1 Crore LIC Term Insurance |
| Young/Single Individuals | Get high coverage at low premiums in your 20s or 30s, ensuring long-term protection for future dependents. |
| People with Loans/Debts | The sum assured helps clear outstanding debts like home or education loans in your absence. |
| Self-employed/Business Owners | Secure your family against business liabilities or irregular income uncertainties. |
| Parents with Young Children | Ensure funds for children's education, upbringing, and future goals even if you're not around. |
| Newly Married Couples | Provide financial security to your spouse and help them maintain their lifestyle in your absence. |
Below is the step-by-step guide to buy the best LIC term insurance plan for Rs. 1 crore from Policybazaar:
Step 1: Visit Policybazaar and go to the Term Insurance page.
Step 2: Fill in basic details like your Name, Date of Birth, and Contact Number, then click on 'View Plans'.
Step 3: Answer questions about smoking habits, annual income, occupation, and education.
Step 4: After submitting the information, a list of available Rs. 1 Crore term insurance plans will be shown.
Step 5: Choose the best term insurance plan for Rs. 1 Crore according to your financial goals and pay the first premium online.
LIC's 1 Crore term insurance plans offer complete financial security at affordable premiums. These policies ensure your family remains financially stable during your untimely demise, covering essential expenses, outstanding loans, and future financial goals. With flexible premium payment options, tax benefits, and special rebates for non-smokers and women, LIC's term plans cater to diverse needs. Before selecting a plan, assess your financial goals, policy tenure, and premium affordability to make an informed decision. Secure your loved ones' future today by choosing the best LIC 1 Crore term insurance plan that fits your requirements!
Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.
˜Top 5 plans based on annualized premium for bookings made on 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
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+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.
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