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LIC Tech Term Plan 854 Premium Calculator

LIC Tech Term plan is a non-linked and non-participating pure risk protection plan. It provides financial protection and security to the policyholder’s family in case of his/her untimely demise during the tenure of the policy. Life insured can easily buy this plan through an online process anytime anywhere as per his/her preference. Moreover, the policyholders can also calculate the approximate premium rate of the policy with the help of a LIC Tech Term plan premium calculator.

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What is LIC Tech Term Plan 854 Premium Calculator?

LIC Tech Term Plan 854 premium calculator is an online tool specially designed to help insurance buyers to estimate the approximate rate of premium of their policies. It is a simple and hassle-free tool. To compute the premium prices of the plan, the individual is required to enter relevant details on the calculator page. There are several benefits of using LIC Tech term plan 854 premium calculator: 

  • It is a very easy and convenient process 
  • You can compute your estimated premium cost by sitting at home 
  • The insurance buyers are only required to enter some details
  • It also helps to determine the sum assured amount that an individual wants to buy to secure his/her family’s financial future

Why Should You Use LIC Tech Term 854 Premium Calculator? 

Life is uncertain, and for any individual who wants to secure his/her family, a term insurance plan is a necessity to have a safe and protected future. LIC tech term plan has gained enormous popularity among its customers. This plan ensures safety to you and your loved ones with pocket-friendly premium rates. 

LIC Tech Term 854 Premium Calculator is specifically designed to compute the premium rates that you will be required to pay to receive a certain amount i.e. sum assured from your LIC tech term policy. This calculator helps in financial planning and you can easily predict which premium price is suitable for you and your family’s financial objectives. 

How to Calculate LIC Tech Term Plan Premium Rates? 

The process of calculating the premium rate of a LIC Tech Term plan is quite easy. Follow the below step for a smooth process: 

Step 1 – Visit the Official website of LIC  

Step 2 – Open ‘Banner of LIC Tech Term Plan or Buy Policy Online’ or select the LIC Tech Term Plan Premium calculator on the home page

Step 3 - Click on the tab Buy Online and select Tech term plans 

Step 4 – After choosing the premium calculator or clicking on buy online, you will be redirected to the new page of LIC

Step 5 – Enter the required details in the calculator such as name, date of birth, gender, country code, mobile, and email. 

Step 6 - Click on the Quick Quote option after entering all the essential information. 

Step 7- The insurance buyer will again be redirected to a new window, where they can select the term plan as per their requirements and then proceed with the premium computation. 

Step 8 – Choose the coverage, premium amount, premium payment frequency, and the policy tenure, if required by the insurer. 

Step 9 – Now a buyer can choose the quotes and then on the next page, all the LIC Tech Term plan premium details will be displayed. 

What are the Benefits of LIC Tech Term Plan 854 Premium Calculator?

The LIC Tech Term Plan 854 premium calculator is a quick and convenient tool to calculate the approximate premium amount required to pay by the policyholder. It is customized to help the potential buyers as per their preferences. Following are the benefits of the LIC term plan calculator: 

  • The process of purchasing the LIC tech term is completely online. So the LIC Tech term plan 854 premium calculator helps you in deciding the premium by calculating the amount you need to pay. 
  • It is reliable as you can check what payout, term, and premium prices work out the best as per your budget, financial goals, and expectations. 
  • The calculator shows accurate results. 
  • It is easily available on the LIC official website. 
  • Customer can use it as many times as he/she wants to use to get the desired outcome. 
  • You are only required to enter some of the basic details to get the premium result. 
  • The interface of the LIC premium calculator is quite user-friendly. 
  • It consumes less time to complete complex calculations.

Sample Illustration of LIC Tech Term Plan Premium Calculator  

The below table illustrates the premium costs of Level sum assured and increasing sum assured of Rs. 1 crore of basic sum assured for male and non-smoker. The policy term is 20 years. 

  1. Level Sum Assured 


    Regular Premium (Annual) 

    Limited PPT (Annual) – Policy term minus 5 years (in Rs.)

    Limited PPT – Annual – Policy term minus 10 years (in Rs)

    Single-Premium (in Rs.)

    Level Sum Assured
















    Increasing Sum Assured
















  2. High SA (Sum Assured) Rebates 

    Rebates on High SA are also available under the LIC Tech Term plan that makes it more attractive for buyers. 

    Age range

    Rebates on High SA (in %)

    < Rs. 1 Crore

    Rs. 1 Crores to < 2 crore (in %)

    >Rs. 2 Crores (in %)

    Level SA 

    Up to 30 years




    31years - 50 years








    Increasing SA

    Up to 30 years




    to 50 years








What are the Documents Required for LIC Tech Term Plan Premium Calculator? 

  • ID proof such as PAN card, Aadhar card, driving license. 
  • Proof of Date of Birth such as birth certificate, school leaving certificate, 10th passing certificate 
  • Address Proof, any certified document having your full address such as utility bills
Best term Insurance Plans in India Best term Insurance Plans in India

LIC Tech Term Plan – An Overview 

  1. Death Benefit 

    For regular and limited premium payment 

    In case of death claim during the plan term, the death benefit in form of ‘sum assured amount on death’ is payable as the highest of: 

    • 7X of the annualized premium 
    • 105 percent of the paid premiums as of the death date 
    • Absolute assured amount paid at the time of death

    For Single payment of Premium 

    The nominee will receive the sum assured (SA) on death as the highest of the following: 

    • 126 percent of a single amount of premium
    • Absolute assured amount paid at the time of death

    The absolute assured amount that is paid on death depends on the choice of death benefit selected at the time of purchasing the policy: 

    1. Level SA (Sum Assured) 

      In this, the absolute sum/amount assured that is to be payable at the time of death is an amount equivalent to the SA (sum assured), which remains constant throughout the tenure of the policy. 

    2. Increasing Sum Assured 

      Under this, the absolute sum/amount assured that is paid at the time of death shall remain equivalent to the SA (sum assured) till the end of the 5th year of the policy. Afterward, it rises by 10 percent of the sum assured each year i.e., from the 6th year of the policy till the 15th one till it turns out to be 2 times the sum assured. In other words, the Absolute sum that is paid on death remains the same i.e., two times the sum assured amount till the ending of the policy tenure. 

  2. Maturity Benefit

    No Maturity benefit is payable upon the survival of the policyholder to the end of the policy tenure 

 Eligibility Criteria to Buy LIC Tech Term Plan 




Entry Age 

18 years 

65 years 

Maturity Age 

80 years 

Basic Sum Assured 

Rs. 50,00,000

No Limit 

Policy Term (PT)

10 – 40 years 

Premium Paying Term (PPT)



Limited Premium 

(PT minus 5) years for PT (10 - 40 years)

(PT minus 10) years for PT (15 – 40 years)

Regular Premium 

Same as PT 

Minimum Amount of Premium (in Rs.)





Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.


  • Q1. What basic information is required by the LIC Tech Term Plan 854 Premium Calculator? 

    Ans. You are required to enter details such as name, date of birth, gender, country code, mobile, and email. 
  • Q2. How Age can affect the LIC tech term premium rates? 

    Ans. Age is one of the important parameters that the LIC tech term calculator uses to compute the premium rates. The younger the insurance buyer, the lower the premium price is likely to be. It is because the chances of the risk of diseases or death increase with the age. It is always a smart decision to buy a term plan at an early age. 
  • Q3. How reliable is the online LIC Tech term plan calculator? 

    Ans. LIC tech term insurance calculator is a technology-based online tool that helps an individual to get a good idea about the type of cover he/she wants and the premium amount that he/she has to pay. Several parameters are taken into consideration while calculating premiums such as age, gender, annual income, policy term, sum assured, etc. Since this calculator considers a wide range of parameters, so the estimation of premium rates from the LIC term plan is highly reliable. 
  • Q4. How much term coverage do I need? 

    Ans. One of the major confusion people is facing while buying a term insurance plan is deciding the extent of the life cover they require. Preferable, it is a smart decision to buy a term insurance cover around 15 – 20X your yearly income. In this way, your family can live a comfortable and secure life. Moreover, your loved ones can achieve their life goals.

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