LIC Tech Term Plan-Features, Benefits & Documents Required

  • LIC Tech Term Plan (Official Plan Number 854) An Exclusive Online-Only Term Plan

The Life Insurance Corporation of India has launched this online exclusive term plan. The LIC Tech Term Plan (or Plan Number 854 as it’s known) is an online plan that cannot be bought offline through the agents. The LIC Tech Term Plan can only be purchased online and is therefore cheaper than other term plans offered by the Life Insurance Corporation of India (LIC).

This premium plan provides substantial coverage at affordable premiums and financial protection for life for the insured’s loved ones in the event of death or serious injury during the policy term. As this plan can be purchased online so is available anytime, anywhere.

LIC Tech Term Plan Online Key Points

Age Group18-65 years
Maximum Age Maturity80 years
Minimum Sum Assured50,00,000
Maximum Sum AssuredNo Limits
Policy Term10-40 years
Premium Payment TermExplained later
Premium Payment ModeYearly or Half yearly or Single
Minimum PremiumRs. 3000 for Regular and limited premium and Rs. 30,000 for Single Premium
Launch Date2019-09-01 00:00:00
Plan Official NamePlan No. 854
Policy TypeTerm Insurance

Key Salient Features of LIC Tech Term Plan Online

There are 2 options to select the life insurance

  • Flexible Assured level
  • An increased Sum Assured Value
  • Ease in choosing the policy term and the premium-paying term
  • Flexibility when choosing death benefit payout In lump sum for installments of 5,10 or 15,

Ease of choosing how long you want to pay premiums

  • One premium Option
  • Regular Premium Option
  • Limited Premium option

A rider for accident death benefits is available

  • Non-smokers pay lower premium rates
  • Women pay lower premiums
  • Rebate for high sums.
  • Tax benefits

Eligibility Criteria

Minimum age at entry18 years (Last Birthday)
Maximum age at entry65 years (Last Birthday)
Maximum age at maturity80 years (Last Birthday)
Minimum Basic Sum AssuredRs. 50,00,000
Maximum Basic Sum AssuredThe Basic Sum Assured shall be in multiples of:
*Rs. 5,00,000/-, if Basic Sum Assured for the policy is Rs. 50,00,000/- to Rs. 75,00,000/-.
*Rs. 25,00,000/-, if Basic Sum Assured for the policy is above Rs. 75,00,000/-.
Policy Term10 to 40 years
Premium Paying Term*Regular Premium: Same as policy period
*Limited Premium: [Policy Period minus 5] years for Policy Period [10 to 40] years
*[Policy Period minus 10] years for Policy Period [15 to 40] years

Let’s learn more about this plan.

Level Sum Assured:

The amount of the coverage will not change throughout the term of the policy.

Sum Assured Increase:

This will allow the coverage amount to increase along with the policy term. In the first five years, there will be no increase in the coverage amount. This will be known as the Basic Sum Assured (BSA). For the next 15 years, or until the end of your policy term (whichever comes first), the cover amount will be 10% higher than the BSA. The cover amount will not rise after that. The Sum Assured Will Increase will not exceed 2 times the Basic Sum Assured.

Premium payments FOR LIC tech Term Policy:

You can make premiums depending on your comfort level.

Single Premium

You only pay once and you have the coverage for the entire policy term. No future payments. This is the best option for people who don’t have regular income but have enough cash on hand.

Regular Premium:

This option requires you to make payments every year for the entire policy term. If you choose a term that lasts until age 80, you will need to continue making payments.

With the introduction of longer policy terms, limited premiums have become more popular. This option is best for people who wish to pay their premiums in their working years, or right after they retire, and still have the benefit of the entire term. The following options are available for premium payments:

Premium Payment

The plans offer three options for premium payments: single, regular, and limited. A policyholder must pay premiums during the entire policy term if they choose to make regular premium payments.

A policyholder may choose to pay premiums under the Limited Premium Payment Option.

[Policy Term minus five] Years for Policy Term between 10 and 40 year

[Policy Term minus 10 Years] for Policy Term between 15 and 40 Years

Death Benefit Payout:

You have the option to pay the death benefit in one lump sum or in several parts to the nominee.

Lumpsum Payment:

Sum Assured’s entire death benefit will be paid to the nominee in one payment.

Installment payouts:

You have the option to receive a portion of your death benefit in a lump sum and the remainder in equal installments over five, ten, or fifteen years. This option is useful if you need to provide regular cash flow for loved ones.


For an additional amount, you can take the Accidental Death Benefit Rider. You will receive the Rider benefit, in addition to the Sum Assured, in the event of an accident-related death.

LIC Tech Term Plans Comparism with Similar Plans

This will allow you to compare the premiums and get a better understanding of how the plan is priced compared to other plans offered by LIC or its competitors.

  • Sum Assured – 1Crore (1 million)
  • Policy Term – 10 Years (120 Months)
  • Age of the policyholder: 40 years
  • non-smoker

LIC Tech Term Policy Annual premiums including taxes Vs Others will be as follows:

PlanAnnual Premium
LIC's Tech Term Plan Vs HDFC Life’s Click 2 Protect 3D PlusRs. 11,166
LIC's Tech Term Plan Vs ICICI Prudential’s iProtect SmartRs. 11,192
LIC's Tech Term Plan Vs LIC’s e-Term PlanRs. 17,464
LIC's Tech Term Plan Vs LIC’s Jeevan AmarRs. 18,956
LIC's Tech Term PlanRs. 12,107

LIC Tech Term Plan Vs Other LIC Term Plans

LIC Tech Term Plans Vs LIC Jeevan Amar

This is a pure protection policy that is unlinked and unprofitable.
It allows policyholders to choose between two death benefit options: a fixed sum assured or a rising sum assured.

  • LIC Jeevan Amar Features & Benefits
  • Two benefit choices are available: a fixed sum assured or a rising sum assured.
  • Women’s prices are discounted.
  • Adaptability
  • You can pay for a single premium, a regular premium, or a limited premium.
  • Select the policy term and premium payment period.
  • Benefits might be paid in instalments if desired.
  • The advantage of a guaranteed high-dollar refund
  • There are two types of premium rates: non-smoker and smoker rates.

LIC Tech Term Plans Vs Anmol Jeevan II:

This plan offers financial protection for the loved ones of the deceased person in the event that they die.

Features and Benefits

  • Premiums may be paid in half-yearly or yearly increments.
  • Sum assured is payable only upon death. Maturity benefits do not apply.

LIC Tech Term Plan Discounts

LIC Tech Term Plan offers discount rebates for higher policy premiums.

Please refer to the below chart for discount details:

Sample Premium Calculations

LIC Tech Premium Term Premium for Option-I (Male 30 years Age for Rs.1 Crore)

LIC Tech Premium Term Premium forOption-II (Male 30 years Age for Rs.1 Crore)

LIC Tech Premium Term Premium for Option-II (Male 30 years Age for Rs.50 Lakh)

Additional Features of LIC Tech Term Policies

Tax Benefits:

This plan will be eligible for Section 80C and Section 10 (10D) tax benefits.

Surrender Value:

There is no surrender value under the regular or limited pay option, but it will be available in one pay and limited options.

No cost trial period:

If the policyholder isn’t satisfied with the terms and conditions, she/he may cancel the policy within 15 calendar days of receipt of the policy document.

This is the LIC Tech Term Insurance Policy. We are happy to answer any questions you may have about this plan.

The LIC Tech Term Plan is a great option if you are looking to buy a term plan. These are the main features of the LIC Tech Term Plan.

LIC offers two pure-term plans:

LIC Jeevan Amar & LIC Tech Term Plan. Both policies cover the sum assured in the event of death for the life insured during the policy term. Both plans are term plans and have no other benefits. LIC Tech Term can be purchased online, while LIC Jeevan Amar is only available in an offline format. Let’s compare the premiums and features of these policies.

LIC Tech Plan Policy Term

The policies are available to anyone aged between 18 and 65. Both term plans allow for a maximum age of 80 years at maturity.

Policy term

Both plans have a policy term between 10 and 40 years.

Sum Assured

  • LIC Tech Term Plan provides a minimum amount assured of Rs50 lakh and no maximum limit.
  • The plans offer two benefits: a Level Sum Assured or an Increasing Sum Assured option.
  • Sum Assured on death is the policy that covers Regular Premium and Limited Premium Payment policies.
  • * 7-times annualized premium
  • * 105% of all premiums paid on the date of death
  • * The death guarantee amount is the absolute maximum
  • Sum Assured on Death for Single Premium Policies is the greater of:
  • * 125% Single Premium
  • * Guaranteed death payment in an absolute amount

The Death Benefit Option selected at the time of the policy is what will determine the death benefit amount.

Option I: Level Sum assured: The absolute amount that will be paid upon death is equal to the Basic Sum Assured. This amount will not change throughout the policy term.

Option II: Increasing Sum Asured: The Absolute Sum Assured to be Paid on Death will equal the Basic Sum Assured until the fifth policy year. It will then increase by 10% each year until it reaches twice the Basic Sum assured. The Absolute amount guaranteed to be paid on the death of a person remains constant after the sixteenth policy year. The policy term ends and the Basic Sum Assured is doubled.

Sum Assured – Lumpsum or Instalments

LIC Jeevan Amar Plan or LIC Tech Term Plan both offer the option to receive death benefits in installments over a period of 5, 10, or 15 years, instead of a lump sum. Instalments will be paid in instalments at either a yearly, half-yearly, quarterly or monthly intervals.


LIC Tech Term Plan is an online term plan that’s cheaper than the LIC Jeevan Amar. LIC Tech Term Plan is available to those who know how to use a computer. These are sample rates of premium as per LIC’s website. By paying between 25% and 30% more premium than the premium under LIC Jeevan Amar, you can double the amount assured under LIC Tech Term Plans.

For Rs50 lakh Sum Assured, here are some sample premium rates for LIC Jeevan Amar

Example premium rates for LIC Tech Term Plans at Rs1 Crore Sum Assured

Accident Benefit Rider

Both policies permit the purchase of an accidental rider as part of the Regular Premium or Limited Premium payments.

LIC Tech Term – Claim payments to nominators

LIC Tech Term allows you to customize the policy according to your needs. The plan allows death benefits to be paid in installments of five, ten, or fifteen years. This is because not everyone in the family may be able to invest or deploy the death benefit proceeds the right way. As the policyholder chooses, the installments payable to nominees will be paid in advance at either a yearly or half-yearly interval or quarterly or monthly intervals.

LIC Tech Term – Death Benefit Options

The policy offers two options regarding the amount assured. Option I allows one to choose a “Level Sum Assured” option, in which the sum assured is fixed until the policy ends. Option II lets one choose an “Increasing Sum Assured” option, in which the sum assured increases each year, subjected to certain conditions. For the first five years, the life insurance will remain the same. It will then rise by 1% for each subsequent ten years. The sum assured will continue to increase over the following ten years.

The sum assured will increase by 10% each year, from the 6th to the 15th policy years until it reaches twice the basic sum. The ‘Absolute amount insured to be paid on the death’ is constant from 16th policy year onwards. The policy term ends with twice the amount assured.

Non-medical plan

Insurers often require buyers to undergo a medical exam when they purchase high-life insurance. LIC’s Tech Term plans are available to those who are between 18 and 35 years old, have an annual income greater than Rs 3 lakh, and have a sum assured of up to Rs 75 million. If you are aged between 36 and 45 years old, have an annual income of more than Rs 55,000, and live in a non-smoking household, you can purchase up to Rs 50 Lakh. In such cases, however, the decision of the underwriter will be final.

LIC Tech Term Policy Exclusions

Suicide Exclusion from the LIC’s Tech-Term Plan:

Under a single premium insurance, the plan is worthless if the life assured – whether healthy or crazy at the time – commits suicide within 12 months of the risk beginning date.

Other than for 90 percent of the single premium paid, LIC would not consider any other claim.

Regular/Limited Premium Payment policy: If the life assured, whether sane or crazy, commits suicide within 12 months of the date of risk initiation or within 12 months of the date of policy revival, the policy will be worthless.

LIC will not consider any claim that is not for at least 80% of the premiums paid up to the date of death.

FAQ’s for LIC Tech Term Insurance

Why should you do LIC Tech Term Insurance Policy?

LIC Tech Term plans are a good option for anyone looking to purchase life insurance or increase their sum assured. A minimum of ten times one’s annual take home income should be sufficient to provide life insurance. When purchasing life insurance, be sure to disclose all relevant information. To make informed decisions, you should carefully review the available options.

Who can buy the LIC Tech Term Plan?

Only Indian nationals can purchase the LIC Tech Term Plan. This plan is not available to Indian citizens who are not Indian citizens or persons of Indian origin. Non-Indians can buy the LIC Tech Term Plan while they are in India.

Is medical required for LIC Tech term plan? Or Can I buy LIC Tech Term policy without the medical test?

If you satisfy the following criteria, you can purchase a LIC Tech Term Plan without having to pass a medical examination (non-medical scheme).

If you are between the ages of 18 and 35 and have an annual salary of more than 3 lacs, you may buy a life insurance policy for up to 75 lacs without having to go through medical exams.

What are the types of LIC Tech Term Policy Plan?

Different types of sum assured offered under the LICTech Term Plan

You have two types of sum assured options. These are the options:

Option for Level Sum Assured: This option will ensure that your sum assured remains constant throughout the policy term.

Option to Increase Sum Assured: This option will ensure that your sum assured remains the same for the first five years. From the sixth policy year through the end of the 15th, your sum assured will increase by 10% every year for the next ten years. Your sum assured will increase by 10% each year until the end of the 15th policy-year. From the 16th policy-year to the end of the policy term, the sum assured will not change.

The LIC Tech Term Plan offers a death benefit

In the event of the death of an insured individual, the nominees will be entitled to a death benefit under LIC Tech Term Plan. You can either claim the death benefit in lump sum or in installments. You have three options for claiming the death benefit: installments of 5, 10, and 15.

What is the Criteria to be eligible for LIC Tech Term Plans?

These are the main eligibility criteria to purchase the LIC Tech Term Plan.

If the applicant is not a smoker and has no medical history, they can purchase the plan without having to undergo a medical exam.

This plan is available to individuals between the ages 18 and 35 if their annual income exceeds Rs.35,000 The amount assured can reach up to Rs.75 million

This plan is available to individuals between the ages 36 and 45, provided that their annual income is greater than Rs.5 million. The amount assured can reach up to Rs.50 million

There are three types of premium rates: There are three types of premium rates: Aggregator rate; non-smoker Rate; and smoker Rate.

How do I buy LIC Tech Term Plan?

The LIC Tech Term Plan can only be purchased online. You cannot buy it through a distributor. This plan can be purchased from the Life Insurance Corporation of India website.

What is increasing sum assured in LIC Tech term plan?

Your cover will gradually rise by 10% per year from the 6th policy year to Rs. 1 crore from the 16th policy year onwards if you want to enhance the sum assured. Refer to above article detailed plans.

LIC Tech Term Points you should know

The LIC Tech Term is the latest plan from LIC. This is a pure-term insurance plan where the sum assured is paid out to the nominee in the event of death. Nothing is paid to policyholders upon maturity or if the policyholder survives the term. Pure term plans are low cost, high-sum-assured insurance plans.

Minimum life insurance, i.e. The minimum sum assured for LIC Tech Term – Rs 50 lakh, with no upper limit A high sum assured can also be kept depending on income proof. The premium must be paid by the policyholder either annually, semi-annually, or one time. The policy terms are minimum and maximum of 10 and 40 years, respectively. Policy coverage can be extended up to 80 years. Non-smokers and smokers will have different premium rates. An Accidental Benefit Rider can be added to the plan for an optional premium.


A 30-year-old purchasing LIC Tech Term Plan for 30 Years for a Sum Assured (Level Sum Assured), of Rs 50 Lakh, the annual premium is Rs 9,912 inclusive GST. The annual premium for the same person is Rs 17,445, if the sum assured exceeds Rs 1 crore.

How to purchase LIC Tech Term Plan?

You will need to go directly to the LIC website to purchase LIC Tech-Term. Fill in the details and make payment. The policy document will be delivered to your address once you have received it. You can pay a premium, including renewal payments, via net banking, debit, credit card and credit card. A convenience fee will be charged depending on how much premium is used for credit card transactions.

What is difference between LIC Tech term and Jeevan Amar? (Llic tech term plan vs jeevan amar)

  • LIC Tech Term is a term policy that can be purchased online, whereas LIC Jeevan Amar may only be purchased offline.
  • Both plans pay out a lump amount if the life guaranteed dies during the policy period.
  • Both plans have no further benefits because they are term plans.

LIC Tech Term Plan Brochure Download

Official Website Link to buy this plan:

Buy LIC Tech Term Plan Now – Click Here

Review of LIC’s Long-Term Technology Plan

  • The LIC Tech-Term term plan is a pure protection term plan that offers financial security to the life assured’s family in the event of his or her death.
  • It is exclusively available online, and policyholders have a great deal of freedom when it comes to premium payments.

The content on this website is meant only for general information purpose and does not and shall not be construed as any solicitation, procurement, display, aggregation, marketing or advertisement of insurance products. is not an insurance intermediary and hence does not endorse or solicit any such products. The information on this website is derived from publicly available sources and cannot verify or confirm the genuineness, truth, veracity or authenticity of this information.

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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