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What Will Be the Premium for a 1 Crore LIC Policy?

Published On May 10, 2023 10:00 AM By InsuranceDekho

LIC of India is one of the best insurance companies in India. The company provides Rs. 1 crore in term insurance plans to protect the future of the insured’s family. The policyholders of the Rs. 1 crore LIC policy pay a premium in exchange for coverage. Read on to determine a premium for a Rs. 1 crore LIC plan. 

A premium is the sum of money paid by the policyholder in exchange for life insurance coverage. It depends on numerous factors, like the age of the insured, the sum assured, lifestyle habits, and other factors. Though you may have to pay a higher premium for a 1 crore LIC policy, it will ensure that your family can meet their financial objectives even when you are not around. LIC of India provides many 1 crore term insurance plans. You can choose the one that best suits your needs. Let’s dive into more details! 

What will be the premium for 1 crore LIC policy?

What is a 1 Crore LIC Policy? 

The LIC 1 crore term insurance plan is a type of insurance whose sum assured is Rs. 1 crore and above. These plans provide higher coverage at affordable premiums for policyholders. In the event of the death of the life assured, their loved ones can use the death benefit to cover their day-to-day expenses. For instance, in unfortunate situations resulting in the death of the policyholder, an insurance company will pay a sum assured, including bonuses (if earned). 

Benefits of a 1 Crore LIC Policy 

Here are some common benefits of investing in an Rs. 1 crore LIC policy. 

  • Financial Assistance: The sudden demise of the sole breadwinner can financially burden your family. However, if you purchase a 1 crore LIC policy, the insurer will financially protect your family. 
  • Extensive Coverage: A Rs. 1 crore LIC term insurance plan provides extensive coverage to the family of the life assured. Aside from meeting their day-to-day expenses, the family of the life assured can meet their financial obligations, such as paying school or college fees, with a death benefit. 
  • Affordable Premiums: LIC's 1 crore term insurance plans are more budget-friendly than the other plans. For instance, if anyone purchases the LIC New Tech Term Plan at the age of 30, they can secure the future of their loved ones by paying a monthly premium of Rs. 1500. 
  • Optional Riders: The policyholders can purchase riders like the accidental death benefit rider along with their additional plans by paying an extra premium. 

1 Crore Term Insurance Plans By LIC 

Here are a few 1 crore term insurance plans offered by LIC of India. 


LIC New Tech Term

LIC New Jeevan Amar

Entry Age

18 years- 65 years

18 years- 65 years

Max. Maturity Age

80 years

80 years

Sum Assured

50 lakhs- no limit

25 lakhs- no limit

Policy Term 

10- 40 years

10- 40 years

Mode of Purchasing

Only online 

Only offline

LIC New Tech Term 

This is a non-linked, non-participating, individual, and pure-risk life insurance plan. The plan provides financial protection to the policyholder’s family in case of his/her demise during the policy tenure. You can purchase the plan online directly through the official website of LIC India. The key features of the plan are highlighted below: 

  1. Option to pay a premium in installments. 
  2. Choose from two benefit options: level sum assured or increasing sum assured. 
  3. Choose from single, regular, or limited premium payment options. 
  4. The special premium rate for women applicants. 
  5. Get attractive rebates on high sum assured. 

LIC New Jeevan Amar 

This Rs. 1 crore LIC policy is a non-linked, non-participating, pure-risk life plan that can be bought offline. The plan provides a death benefit to the family of the policyholder in the unfortunate event of the policyholder's demise. You can contact licensed agents, insurance brokers, and POSP advisors to buy the LIC New Jeevan Amar plan. The key features of the plan are highlighted below. 

  1. Choose from the level sum assured and increasing sum assured benefit options. 
  2. Select different premium payment options, such as single premium, regular premium, and limited premium payment. 
  3. Pay a premium against your policy in installments. 
  4. Get discounts and rebates on a higher sum assured. 
  5. Special discounts on premiums are available for females. 

How Premium For a 1 Crore LIC Policy is Calculated?

A premium for the LIC 1 crore term insurance plan may depend on various factors. This may include the age of the insured, lifestyle habits, policy tenure, and most importantly, the sum assured. However, here is a sample illustration to help you understand how the age factor will impact a premium for a 1 crore LIC policy. 

Policyholder’s age

Policy Tenure

Premium amount

LIC New Tech Term

LIC New Jeevan Amar

25 years

20 years



30 years

20 years



40 years

20 years




In conclusion, LIC 1 crore term insurance plan protects the policyholder’s family in case of his/her unfortunate death. As illustrated in the above example, it is smart to invest in a term insurance policy at an early age. You can choose the LIC New Tech Term Plan or the LIC New Jeevan Amar Plan to secure the future of your loved ones.

Also Read: 

What Is the Eligibility for 1 Crore Term Insurance?


This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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