Till now we have been depending on the insurance agent for any kind of insurance policy. And it often happens that in the course of selling his product, the agent sells us a policy that we do not need or that does not fit our needs. Every man’s income and his needs are different. Therefore, in the insurance market today, there are different insurance products according to every need.
The special thing is that now we can also buy insurance policy online. All the policies of Life Insurance Corporation of India (LIC), the country’s largest life insurance company, are available online. The best thing is that these policies have been explained in such detail that you can easily calculate and choose a plan according to your need.
Life Insurance Corporation of India (LIC) launched a new term insurance plan last year. This plan named LIC Tech Term (LIC Tech Term) is also available online. Take Term is a non-linked, non-profit online term insurance policy, which provides financial protection in case of sudden death in the insured families. Under this new term insurance, cover will be given in the first year on death due to Extend, Suicide or any reason.
LIC Tech Term Plan
- Take term plan of LIC is an online plan.
- LIC Tech Term is completely a term insurance.
- If the policy holder dies during the policy period, the nominee will get the payment.
If the policy holder survives on maturity of term insurance, then nothing will be given to him. - The premium rate also depends on whether the policyholder is a smoker or a non-smoker.
Who can take this plan
- Minimum Assured amount on LIC Tech Term will be Rs 50 lakhs.
- There is no limit to the maximum term plan.
- The term plan limit can be increased based on income proof.
- From 18 to 65 years, anyone can take this plan.
- Under LIC Tech Term Policy, the old age will be only 80 years.
- In this plan you can choose the option of half yearly, yearly or single premium.
- The minimum time for term insurance will be 10 years and maximum 50 years.
How to calculate premium
If you are 30 years old and want to take this plan for the next 30 years and opts for an sum assured of Rs 50 lakh, then the annual premium for this will be Rs 9,912. It will also include GST. If the assured amount is Rs 1 crore, then the annual premium will be Rs 17,445.
How to buy plan
To buy LIC Tech Term Plan, you have to visit the official website of Life Insurance Corporation of India. Here you will have to give all the necessary information, make payment and wait till the policy documents are received at your address. You can pay the premium through net banking, debit card, credit card, AMEX card, UPI, IMPS or any e-Wallet. If you make a payment through a credit card, then you will have to pay an additional convenience fee based on your premium.
