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LIC Tech Term Insurance Eligibility

14 reviews Rate This
Claim Settlement Ratio98.62%
Customer Care8:00 AM to 8:00 PM
Death Benefit Paid For73,3809 Policies
Presence2048 Branches
Total Death Benefit Paid12797.85 Crore

LIC Tech Term Features

Some of the major features of LIC Tech Term Plan are:

  • Flexible Premium Payment - LIC Tech Term plan comes with massive flexibility in terms of premium payment. The policyholders can choose from single, regular or limited premium payment based on their financial situation and other requirements.
  • Death Benefit Payout - LIC Tech Term plan provides the choice of death benefit payout. The dependents or beneficiaries of the life assured can choose to receive the death benefit as level sum assured (constant sum assured during policy tenure) or increasing sum assured (constant sum assured for first 5 years then 10% per annum increase in benefit payable from the 6th year up til the 15th year and constant thereafter until the policy term), in the event of unfortunate, sudden demise of the life assured.
  • Rebates on Higher Sum - LIC Tech Term plan provides attractive rebates on higher sum assured. The policyholders can avail major discounts on their premiums if the sum assured at the time of policy inception is Rs. 1 Crore and above.
  • Two Categories of Premium Rates - LIC Tech Term plan offers different premium rates for smokers and non-smokers.
  • Special Rates for Women - LIC Tech Term comes at a special price for women policy buyers.

LIC Tech Term Eligibility Criteria

Tabulated below is the eligibility criteria for LIC Tech Term Plan:



Minimum age at entry

18 years (Last Birthday)

Maximum age at entry

65 years (Last Birthday)

Maximum age at maturity

80 years (Last Birthday)

Policy Term

10 years to 40 years

Minimum Basic Sum Assured

Rs. 50,00,000

Maximum Basic Sum Assured

No Limit

(Basic sum assured should be in the multiples of Rs. 5,00,000, if basic sum assured is Rs. 50,00,000 to Rs. 75,00,000;

Rs. 25,00,000, if basic sum assured is

above Rs. 75,00,000)

Premium Paying Term

Regular Premium : Same as policy term

Limited Premium : i) (Policy Term minus 5) years for 10 to 40 years of the chosen policy term

ii) (Policy Term minus 10) years for 15 to 40 years of the policy term chosen.

Key Inclusions and Exclusions of the Plan

What's Included

  • Death benefit
  • Accident benefit rider (optional)
  • Death benefit in installments (optional)
  • Two benefit options
  • Tax benefits

What's Not Included

  • Suicide within 12 months
  • Breach of law with criminal intent
  • Participation in any illegal or criminal act
  • Use of intoxicating drugs, alcohol, solvent, etc.
  • Treatment for injuries caused due to hunting, mountaineering, etc.

LIC Tech Term Plan Brochure

  • 369.86 KB
  • PDF Document
  • Aug 23, 2021

Tech Term Plan Reviews

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What users are saying
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  • I Bought the LIC Term Insurance- Tech Term Plan from InsuranceDekho. Must say that the process was very easy t...

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    By Sudha Madhuri
    On: Sep 04, 2023
  • I had some queries related to my LIC Term Insurance- Tech Term Plan which I had purchased from InsuranceDekho....

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    By Khushi Trivedi
    On: Aug 29, 2023
  • While purchasing a term plan from InsuranceDekho I learnt about the online term insurance premium calculator f...

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    By Shivam Sen
    On: Aug 25, 2023
  • I was not able to purchase the LIC Term Insurance- Tech Term Plan from InsuranceDekho’s website. I calle...

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    By Renu Mittal
    On: Aug 11, 2023
  • All the term insurance policy services such as renewal, claim settlement process, policy issuance are time-sav...

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    By Debjeet Singh
    On: Aug 09, 2023

FAQs on Tech Term Plan Health Insurance Plan

  • Can I buy LIC Tech Term Plan through offline mode?

    No! LIC Tech Term plan is available through ONLINE MODE ONLY.

  • Is it compulsory to buy riders under the LIC Tech Term Plan?

    No! It is not a compulsion to buy riders under the LIC Tech Term Plan. One can buy the Accident Benefit Rider based on their requirement by paying an extra premium. 

  • What is the grace period under the LIC Tech Term Plan?

    The grace period, in case of limited and regular premium policies is 30 days for payment of yearly or half yearly premiums from the date of first unpaid premium. 

  • Does LIC Tech Term Plan provide maturity benefit if the life assured survives the policy term?

    No! Maturity benefit is not payable under LIC Tech Term Plan if the life assured survives the end of the policy term.

  • Can I avail tax benefits on the premium paid for LIC Tech Term Plan?

    Yes! A policyholder is eligible for standard tax benefits on the returns of the plan.

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