What is the Term Plan

Term plan insurance is one fo the simplest form of life insurance. term plan provides financial protection to your family at the most affordable rates. With term insurance, you can get a large amount of life cover from 25 lakh to 1 crore (i.e. sum assured) at a relatively low premium rate. The benefit amount is paid out to the nominee in case of death of the person insured during the term of the policy.

Best LIC Term Plan

1. LIC Jeevan Amar (Plan no 855)

LIC Jeevan Amar

Minimum Term:

LIC Jeevan Amar provides a minimum of 10 years to maximum 40 years of the term plan.

Entry Age:

Minimum entry age is 18 and the maximum entry age is  65 years for Jeevan Amar.

Premium Paying Terms:

User can choose the option of a regular premium paying method as per policy term.

Where another limited premium plan is also available

  • One will count 5 years less from total policy term. which is 10 to 40 years of the policy term.
  • Another one will count 10 years less from total policy term. which is 14 to 40 years of the policy term.

Here in Jeevan Amar LIC term plan, Single Premium option is not available.

Premium Category:

Here the user will get 2 types of the category under this Jeevan Amar LIC term Plan.
1) Non-Smoker Rates
2) Smoker Rate

Key Features of Jeevan Amar Term Plan

  • Buyers can select different payment/premium method: Single-Premium, Regular Premium and Limited Premium Payment
  • Choose the Policy Term/Premium Paying Term
  • Payment of benefit in instalments is also available.
  • Special rates for women.

Plan Main Feature:

  • Death Benefits:
    1) Option I: Level Sum Assured,
    2) Option II: Increasing Sum Assured
  • Maturity Benefits
  • Optional:
    1) Rider Benefits,
    2) Option to take Death Benefit in instalments:
  • Payment of Premiums
  • Grace Period (applicable for Regular and Limited Premium payment)
  • Sample Illustrative Premium
  • Rebate/Loadings
  • Revival

To get more describe details on all features please follow this below link:

Full Detail on Jeevan Amar LIC Term Plan

Income Tax Benefits:

Premium Paid under Anmol Jeevan Plan is eligible for Tax rebate under Section 80C.

Premium Calculator:

For the Female: Age 18, Non-Smoker, Sum Assured: 25,00,000

Premium with 18% GST: Yearly: 3275, Half-yearly: 1671, Avg Premium per day: 8 INR

2. LIC Anmol Jeevan (Plan No 822)

Minimum Term:

Anmol Jeevan provides a minimum of 5 years to a maximum of 25 years of the term plan.

Entry Age:

Minimum entry age is 18 and the maximum entry age is 55 years for Jeevan Amar.

Maximum Coverage:

65 Years of Maximum coverage available.

Premium Paying Terms:

User can choose the option of a regular premium paying method as per policy term.

Minimum – Maximum Sum Assured:

Jeevan Anmol plans sum assured is from 6,00,000 to 24,00,000.

Income Tax Benefits:

Premium Paid under Anmol Jeevan Plan is eligible for Tax rebate under Section 80C.

Policy Benefits:

Death Benefits: Anmol Jeevan plan provide pay on the death of the life assured during the policy term.

On Survival: On survival of the end time of Anmol policy term, there are no benefits shall be payable.

Surrendered Value: Anmol Jeevan term plan has no facility to provide any surrendered value.

Loan: User can not apply or no loan option available under this plan.

3. LIC Tech Term Plan ( Plan no 854)

Tech term plan online

Launch Date: 2nd Sept 2019

Minimum Term:

LIC Tech Term provides a minimum of 10 years to maximum 40 years of the term plan.

Entry Age:

Minimum entry age is 18 and the maximum entry age is  65 years for Jeevan Amar.

Premium Paying Terms:

User can choose the option of a regular premium paying method as per policy term. Insurance holder has to pay a premium as the similar year of the insurance term.

Where another limited premium plan is also available

  • One will count 5 years less from total policy term. which is 10 to 40 years of the policy term.
  • Another third option is Insurance policyholder can pay the amount in a single time

Sum Assured Options:

a) Level sum assured

b) Increasing sum assured

Key Features of Jeevan Amar Term Plan

  • Buyers can select different payment/premium method: Single-Premium, Regular Premium and Limited Premium Payment
  • Payment of benefit in instalments is also available.
  • Low rate for No smoker
  • Cheapest policy as compared to others.
  • Special rate for Women.

Plan Main Feature:

  • Death Benefits:
    1) Option I: Lump sum payment method – Entire payment in a single transaction
    2) Option II: Installment – Benefit will be paid in an installment of 5,10, or 15 years.
    3) Option III: Lump sum + Installment: Such amount in a Lump sum and installment of 5,10, or 15 years.
  • Maturity Benefits
  • Accident benefits rider is also available (Not available in single payment option)
  • Payment of Premiums
  • Grace Period (applicable for Regular and Limited Premium payment)

Income Tax Benefits:

Premium Paid under Anmol Jeevan Plan is eligible for Tax rebate under Section 80C.

Premium Calculator:

Tech term policy calculation

The most important thing about this plan is, This plan is only available online. User / Insurance holder can buy this policy online. to buy this premium online click on below link:

Buy LIC Tech Term plan online

Most common LIC Term Plan Insurance counter / Chart

LIC term plan