Online Term Assurance Plan – Tech-Term (Table No 854)
USPs / Features of the Tech-Term Plan
- A Non-linked, Non-participating, Life Term Assurance Plan
- Lower rates for Non-Smoker lives
- Special rates for women
- Attractive High Sum Assured Rebate
- Coverage until age of 80 Years
- Accident Benefit Rider available during PPT under Regular and Limited Premium Policies
- Option to pay premium as Regular, Single or for Limited Period
- Option to take Death Benefit in lump sum and/or installments
ELIGIBILITY CONDITIONS
Entry Age – 18 to 65 years (LBD)
Max Maturity Age – 80 years (LBD)
Min BSA :Rs.50 Lakhs
Max BSA : No Limit
Policy Term – 10 to 40 years
Premium Payment – Single, Regular/ Limited (Yearly / Half-Yearly)
BSA multiples:
- Rs. 5,00,000/- BSA up to Rs. 75,00,000/-
- Rs. 25,00,000/- thereafter
Minimum installment premium:
- Rs. 3,000/- for Regular/ Limited premium policies
- Rs. 30,000/- for Single premium policies
Death Benefit Option
- Level Sum Assured: Death Benefit remains level throughout the Policy Term.
- Increasing Sum Assured: Death Benefit remains level during First 5 Policy Years, increases by 10% of BSA every year for the next 10 years and then remains at that level for the remaining Policy Term.
Premium Payment Options
- Regular Premium (PPT= Policy Term)
- Limited Premium (PPT= Policy Term – 5)
- Limited Premium (PPT= Policy Term – 10)
- Single Premium (PPT= 1)
Premium Rate Differentiation
- Non-Smoker (Male / Female)
- Smoker (Male / Female)
Option to take DB in Installments
- Death Benefit may be taken in installments over chosen period of 5/10/15 yrs instead of lump sum amount
- Flexibility to exercise the option in respect of full or part of claim proceeds
- Installments will be paid in advance subject to minimum installment amount
- Flexibility to exercise this option at proposal stage or during currency of the policy
High Sum Assured Rebate: LIC’s Tech-Term
Option I: Level Sum Assured
As a % of Tabular Annual/Single Premium | |||
Age Band (LBD) | Less than Rs. 1 Crore | Rs. 1 Crore to less than Rs. 2 Crore | Rs. 2 Crore and above |
<= 30 years | Nil | 12% | 20% |
31 – 50 years | Nil | 10% | 15% |
>= 51 years | Nil | 5% | 7% |
Option II: Increasing Sum Assured
Age Band (LBD) | Less than Rs. 1 Crore | Rs. 1 Crore to less than Rs. 2 Crore | Rs. 2 Crore and above |
<= 30 years | Nil | 10% | 18% |
31 – 50 years | Nil | 8% | 13% |
>= 51 years | Nil | 4% | 6% |
LIC’s Tech-Term: Sample Premium
Policy Term= 10 Years
PPT=10 Years (Regular Premium Policy)
Sum Assured= Rs. 1,00,00,000/-
Mode= Yearly
Category = Non-Smoker
Option 1: Level Sum Assured.
Age (LBD) | Male | Female | Remark (Per Month Equivalent Premium) |
20 | Rs. 5,456 | Rs. 5,192 | Male=455, Female=433 |
30 | Rs. 6,248 | Rs. 5,896 | Male=521, Female=491 |
40 | Rs. 10,260 | Rs. 8,460 | Male=855, Female=705 |
My DOB is 3rd Jan 1980 ,I want to know that my single premium for one crore sum insured for lic 854 plan, male
how can i buy this policy online,
how can i buy tech term of lic
I am not able to find this term plan in LIC portal. Can you provide the link to apply online?
R THRIVIKRAMARAO my dob4th Oct 1969 ,l want 1crore policy for 20 years term non smoker pl how much premium detal
please provide the link…
This plan i.e. Table 854 is not available online on LIC website. Can anyone help what is the issue?
HI I AM VINOD KUMAR MY DOB IS 21.07.1975 1 CRORE POLICY FOR 20 YEARS TERM NON-SMOKER PLEASE SEND ME DETAILS HOW MUCH PREMIUM.
How much time to purchase online policy new plan 854 please tell me thanks
My age 35yr what is primium for 1cror policy