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LIC Term Insurance User Reviews

101 reviews Rate This
LIC Term Insurance
Highlights
Claim Settlement Ratio98.62%
Customer Care8:00 AM to 8:00 PM
Death Benefit Paid For73,3809 Policies
Inception1956
Presence2048 Branches
Total Death Benefit Paid12797.85 Crore

Term Life Insurance Premium Calculator

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Choose required coverage to secure your family’s future

50L
1Cr
1.5Cr
2Cr
Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Best LIC Term Insurance Plans

1 Crore
1.5 Crore
2 Crore
2.5 Crore
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.51%
Starting From ₹ 682/Month
Claim Settlement
Key Features:
  • Right Green Tick Zero Cost Benefit
  • Right Green Tick Terminal Illness
  • Right Green Tick Nominee's Choice payout
  • Right Green Tick Voluntary Top Up
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹95.28%
Starting From ₹ 812/Month
Claim Settlement 24hr Claim Settlement
Key Features:
  • Right Green Tick Waiver of Premium on Disability
  • Right Green Tick Terminal Illness
  • Right Green Tick Life Stage Benefit
  • Right Green Tick Special Exit Benefit
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.39%
Starting From ₹ 771/Month
Claim Settlement 24hr Claim Settlement
Key Features:
  • Right Green Tick Terminal illness
  • Right Green Tick Special Exit - Option to get your premiums back
  • Right Green Tick Renewability Option
See More Plans
Rating of LIC
4.8
Based on
101 User reviews

  • Protecting My Loved Ones

    With the LIC Term Insurance Policy from InsuranceDekho, I feel confident that I'm protecting my loved ones' financial future. It's a decision I'm truly satisfied with.

    L
    Luxmi Singh
    On: Oct 30, 2023

  • Swift Claim Settlements

    I recently had to make a claim with InsuranceDekho's LIC Term Insurance Policy, and they impressed me with their swift response. It's comforting to know that your family will receive the support they need without delay.

    S
    Shiva Mahavir
    On: Oct 26, 2023

  • Transparent Policies

    Transparency is key in the world of insurance, and InsuranceDekho excels in this regard. Their LIC Term Insurance Policy is transparent and easy to understand. This clear communication about benefits and terms gives me the confidence that my family will be protected.

    S
    Sangeeta Acharya
    On: Oct 24, 2023

  • Total Peace of Mind

    I've been a policyholder of the LIC Term Insurance Policy with InsuranceDekho, and it's provided me with total peace of mind. The comprehensive coverage ensures that my family is financially secure in case of any unforeseen events. The transparency and reliability of InsuranceDekho make it a top choice for term insurance.

    M
    Mukul Kapri
    On: Oct 19, 2023

  • Guiding Towards Financial Security

    InsuranceDekho guided me towards financial security with their term insurance options. They made sure I understood the LIC Term Insurance Policy well before I was purchasing, leaving no room for doubts.

    G
    Gunjan Malhotra
    On: Oct 18, 2023

  • Timely Updates and Notifications

    InsuranceDekho keeps you informed every step of the way. They send timely updates and notifications about my LIC Term Insurance Policy, from purchase to renewal reminders. It's this attention to detail that sets them apart. You never have to worry about missing important deadlines.

    B
    Beema Rawal
    On: Oct 16, 2023

  • Prompt and Knowledgeable Support

    I had some questions while browsing the LIC Term Insurance Policy options on InsuranceDekho, and I reached out to their customer support. They were not only quick to respond but also very knowledgeable. They guided me through the different policy features, helping me understan. It's reassuring to know that their support team is there to assist you every step of the way.

    r
    romil Shah
    On: Oct 12, 2023

  • Affordable Protection

    InsuranceDekho provides term insurance that's easy on the pocket while delivering comprehensive coverage. I appreciate the LIC Term Insurance Policy as it is very affordable without compromising on quality. 

    M
    Meenakshi Moray
    On: Oct 10, 2023

  • Effortless Online Application

    The online application process was a breeze. I applied for the LIC Term Insurance Policy on InsuranceDekho's website, and within minutes, I was on my way to securing my family's future

    A
    Amit Kumar
    On: Oct 03, 2023

  • Outstanding Claims Support

    I had to make a claim recently for my existing LIC Term Insurance Policy, and the support I received from InsuranceDekho's claims team was outstanding. They handled everything efficiently.

    R
    Rakesh Bansal
    On: Sep 29, 2023

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LIC Term Insurance Contact Details

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Claim Process at LIC Term Insurance

  • 1

    Claim Intimation

    In the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
  • 2

    Submission of Documents

    Claim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
  • 3

    Claim Evaluation

    Once the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.

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FAQs

  • How often can I pay my premiums for LIC’s term insurance plans?

    LIC’s term insurance plans allow premium payments in different modes. Policyholders can pay premiums monthly, quarterly, half-yearly, or annually as his/her requirements.

  • Are Term insurance premiums exempt from tax?

    Yes, the premium paid for term insurance policies is allowed as a tax-free deduction from your taxable income. Premiums paid up to INR 1.5 lakhs can be claimed as a deduction under Section 80C of the Income Tax Act,1961.

  • What are the different ways of paying LIC Term Insurance premiums?

    LIC Term insurance premiums can be paid through cash, cheque, demand drafts, net banking, UPI, NEFT, mobile wallets, or any other digital mode.

  • Do Term insurance premiums include GST?

    Yes, a GST slab of 18% is added to the premium charged for a plan.

  • What happens when the premium is not paid?

    If the premium is not paid in case of term insurance plans for the specified duration, the policy lapses. In case of a lapse, the coverage halts and the policyholder loses the premiums paid earlier.

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