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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

  • Anytime Support

    Recently, I bought LIC Term Insurance Policy from the online platform InsuranceDekho. I was amazed at the customer service they were offering to simplify our purchases. One of the admirable features of the company is that they provide assistance any time of the day. This flexibility in buying insurance made my purchase convenient. I would recommend everyone to go through their website to buy the best plan. 

    H
    Harpal Singh
    On: Jul 10, 2023

  • Comparing Plans Was Easy

    I bought the LIC Term Insurance Policy from InsuranceDekho. The website was very informative and appreciable. There were multiple plans and every plan was explained in detail including features, benefits, premiums, and other information. My purchase was smooth throughout the process. Recommended to everyone who wants to buy a term insurance plan. 

    K
    Kamlesh Aggarwal
    On: Jul 07, 2023

  • Expert Guidance for Policy Selection

    The InsuranceDekho team provided expert guidance in selecting the right term insurance policy for my specific needs. They patiently answered all my questions, explained the various options available, and helped me make an informed decision to buy the LIC Term Insurance Policy. Their knowledge and professionalism were commendable.

    V
    Vaishali Srivastav
    On: Jul 05, 2023

  • Impressive Coverage

    Recently I purchased the LIC Term Insurance Policy from InsuranceDekho. I was very impressed with the coverage they provided for each plan. All the information about the coverage was explained in detail.

    H
    Harshit Patel
    On: Jul 04, 2023

  • Smooth Purchase

    Thank You InsuranceDekho!!! My purchase of the LIC Term Insurance Policy with the company was terrific. The customer support executives go beyond their level to help me solve my problems right away. It was a pleasure to have such a great experience with an online platform. The best part was that I bought my protection plan while sitting at home. 

    K
    Kabir Chabra
    On: Jun 30, 2023

  • On-time response -

    While exploring the different term insurance plans on InsuranceDekho, I came across the LIC Term Insurance Policy. I decided to buy this plan from InsuranceDekho. Moreover, the timely response to all my queries made the entire process of buying the plan very smooth. 

    A
    Apurv Bajoria
    On: Jun 29, 2023

  • Affordable Protection

    The LIC Term Insurance Policy from InsuranceDekho offers affordable protection for a defined period, and it has been a great choice for me. The premiums are reasonable, and I have the peace of mind of knowing that my loved ones are financially secure during the term of the policy. It's a cost-effective solution for those seeking temporary coverage.

    R
    Ritu Narang
    On: Jun 28, 2023

  • Easy tools for comparison

    It is so easy to compare all the available term plans on the website of InsuranceDekho. I simply used the online tools to perform a detailed comparison of the term plans. I then decided to buy the LIC Term Insurance Policy as this plan matched my needs. 

    D
    Dhruv Kapadia
    On: Jun 27, 2023

  • Efficient Claims Process

    Dealing with the claims process of my LIC Term Insurance Policy was a breeze. InsuranceDekho was prompt and efficient in handling my claim, providing the necessary support during a difficult time. I'm impressed with their professionalism and quick response.

    M
    Misha Bajaj
    On: Jun 26, 2023

  • Highly rated by customers

    The LIC Term Insurance Policy on InsuranceDekho is one of the top-rated life plans in India. It was positively reviewed by most of the customers and moreover, it had everything to meet my expectations. So, I bought the policy without any further delay. 

    D
    Dimple Bhatia
    On: Jun 23, 2023

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LIC Term Insurance Contact Details

Reach us for help anytime

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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