LIC e-Term

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LIC e-Term

Life’s a journey that sometimes is cut short without any warning, but if we are prepared we can take care of our loved ones even in our absence. With the LIC e-Term (Online term plan) you can do just that. This is a regular non-participating online term assurance plan which provides your family with the financial protection they require after your demise.

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On LIC Official Website

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Updated: 29-05-2024 09:58:06 AM

The key features and benefits of this plan:

Entry age 18 years to 60 years
Plan validity/term
  • Minimum 10 years
  • Maximum 35 years
Sum assured
  • Minimum: Rs. 25 lakhs and Rs. 50 lakhs for non-smokers
  • Maximum: No limit
  • Minimum annual premium: Rs. 2,875
  • Maximum annual premium: depends on the sum assured
Premium payment frequency/mode Annual with a grace period of 30 days
Coverage (in detail)
  • The maximum age till which cover will be provided is 75 years
  • The cover is available on for individuals and for their own lives
  • The policy will lapse if premiums are not paid within the grace period
  • If the policy has lapsed, it can be renewed within 2 years
  • If any medicals are required then the cost is borne by the policyholder
  • If the policy is returned within the freelook / cooling-off period then the premiums will be returned minus any costs for stamp duty, cover for period that the policy was active, etc.
Riders / Add-on covers Term Assurance Rider

  • Policyholders can enhance the cover by Rs. 1 lakh to Rs. 25 lakhs
  • Premiums are paid along with the premium for parent policy
Surrender period/value No surrender value is awarded under this plan
Freelook period 30 days

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An individual should take up a policy for a period of minimum 10 years and maximum of 35 years.

No, a loan facility isn’t available under this policy.

The minimum entry age is 18 years, while the maximum is 60 years.