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Plan No. 854Pure Term Insurance
LIC's Tech Term
"High life cover at an affordable price."
LIC's Tech Term is a Non-Linked, Non-Participating, Individual, Pure Risk Premium Life Insurance plan which provides financial protection to the insured's family in case of unfortunate death during the policy term. It is an online-only plan offering lower premium rates.
Key Features
- ✓Pure Protection: High sum assured at very affordable premiums.
- ✓Online Plan: Exclusively available online, ensuring a seamless buying process.
- ✓Flexible Payouts: Death benefit can be chosen as a lump sum or in installments (over 5, 10, or 15 years).
- ✓Special Rates: Lower premiums for non-smokers and female lives.
Eligibility Criteria
Minimum Age18 Years
Maximum Age65 Years
Minimum Term10 Years
Maximum Term40 Years
Min Sum Assured₹ 50,00,000
Max Sum AssuredNo Limit
Plan Benefits
Death Benefit
Absolute amount assured to be paid on death.
Survival Benefit
N/A
Maturity Benefit
No maturity benefit.
Real-World Example
Profile30-Year-Old Male, Non-Smoker
Sum Assured₹ 1,00,00,000 (1 Crore)
Term Details30 Years (Premium Paying Term: 30 Years)
Annual Premium₹ 9,500 / Year
Expected ReturnsN/A (Pure Protection)
How it Works
Rahul wants to secure his family’s future. He takes a 1 Crore life cover for a term of 30 years. He pays a very small premium of ₹ 9,500 every year. If he passes away at any time during these 30 years, his nominee receives the full ₹ 1 Crore tax-free. If he survives the 30 years, the policy terminates with no returns.