What is the LIC Tech-Term Plan and how is it different?

LIC Tech-Term is an online-only pure term plan sold directly by LIC on their e-services portal. Because there are no agent commissions involved, it offers significantly lower premiums compared to LIC's offline equivalents. It is designed for self-directed buyers who want a cheap, robust pure protection plan.

Can I buy LIC term insurance online?

Yes, you can absolutely buy LIC term insurance online. LIC offers the New Tech-Term and Digi Term plans exclusively through their online portal. The online process requires you to fill out the application, submit KYC documents like your PAN and Aadhaar, and optionally complete a tele-medical or physical medical exam.

How much premium for ₹1 Crore LIC term insurance for a 30-year-old non-smoker?

For a 30-year-old healthy non-smoker male, the premium for a ₹1 Crore LIC Tech-Term policy for a 30-year term typically ranges between ₹10,000 to ₹13,000 annually (roughly ₹900 to ₹1,100 monthly) before GST. Premiums vary slightly based on the exact term and your medical history, so using our premium calculator is highly recommended.

Which is better: LIC Tech-Term or LIC Jeevan Amar?

Both plans offer the exact same coverage and features. The only difference is the purchasing channel. LIC Tech-Term is an online-only plan with lower premiums since there are no intermediary commissions. LIC Jeevan Amar is an offline plan bought through an agent, which means higher premiums but you receive personalized, face-to-face assistance for application and future claim servicing. Choose based on your comfort level.

Are return-of-premium (ROP) plans worth it?

Return-of-Premium (ROP) plans, like LIC Jeevan Kiran, return your base premiums if you survive the policy term. While this sounds appealing, the premiums for ROP plans are often double or triple the cost of pure term plans. Financially, buying a cheap pure term plan and investing the difference (e.g., in a PPF or mutual fund) usually yields a much higher overall return.

Does LIC settle term claims reliably?

Yes, LIC is highly reliable and boasts one of the highest Claim Settlement Ratios (CSR) in the industry, consistently staying above 98.5%. Because it is backed by the government of India, it carries an immense trust factor. However, it's always critical to declare your medical history accurately to ensure smooth claim processing.

LIC term insurance vs HDFC Life Click2Protect: Which is better?

LIC offers unmatched sovereign trust and an excellent rural and urban service network, but its premiums can be slightly higher than private insurers. Private plans like HDFC Life Click2Protect often provide lower premiums, more innovative riders (like income-replacement or wellness discounts), and a smoother digital experience. Both are highly reliable; your choice depends on whether you value government backing or aggressive pricing and features.

What is the Saral Jeevan Bima plan?

Saral Jeevan Bima is a standardized, simple pure-term insurance product mandated by the IRDAI across all insurers. Its features are identical regardless of which company you buy it from. It typically provides coverage up to ₹25 Lakhs, making it an excellent entry-level policy for first-time buyers or those with lower coverage requirements.

How to claim LIC term insurance after death?

To claim LIC term insurance, the nominee must visit the home branch where the policy is serviced. They need to submit the death claim form, the original policy document, the municipal death certificate, and their KYC documents. If the claim is straightforward and non-investigated, LIC typically settles it within 15 to 30 days of receiving all the completed documents.

Can I change the nominee in my LIC term policy online?

While LIC has significantly upgraded its e-services portal to handle premium payments, address updates, and loans, changing a nominee often still requires submitting a physical 'Change of Nomination' form at your servicing branch for verification. Always confirm the current digital capabilities on the LIC portal for your specific policy type.

What is the LIC Tech-Term Plan and how is it different?

LIC Tech-Term is an online-only pure term plan sold directly by LIC on their e-services portal. Because there are no agent commissions involved, it offers significantly lower premiums compared to LIC's offline equivalents. It is designed for self-directed buyers who want a cheap, robust pure protection plan.

Can I buy LIC term insurance online?

Yes, you can absolutely buy LIC term insurance online. LIC offers the New Tech-Term and Digi Term plans exclusively through their online portal. The online process requires you to fill out the application, submit KYC documents like your PAN and Aadhaar, and optionally complete a tele-medical or physical medical exam.

How much premium for ₹1 Crore LIC term insurance for a 30-year-old non-smoker?

For a 30-year-old healthy non-smoker male, the premium for a ₹1 Crore LIC Tech-Term policy for a 30-year term typically ranges between ₹10,000 to ₹13,000 annually (roughly ₹900 to ₹1,100 monthly) before GST. Premiums vary slightly based on the exact term and your medical history, so using our premium calculator is highly recommended.

Which is better: LIC Tech-Term or LIC Jeevan Amar?

Both plans offer the exact same coverage and features. The only difference is the purchasing channel. LIC Tech-Term is an online-only plan with lower premiums since there are no intermediary commissions. LIC Jeevan Amar is an offline plan bought through an agent, which means higher premiums but you receive personalized, face-to-face assistance for application and future claim servicing. Choose based on your comfort level.

Are return-of-premium (ROP) plans worth it?

Return-of-Premium (ROP) plans, like LIC Jeevan Kiran, return your base premiums if you survive the policy term. While this sounds appealing, the premiums for ROP plans are often double or triple the cost of pure term plans. Financially, buying a cheap pure term plan and investing the difference (e.g., in a PPF or mutual fund) usually yields a much higher overall return.

Does LIC settle term claims reliably?

Yes, LIC is highly reliable and boasts one of the highest Claim Settlement Ratios (CSR) in the industry, consistently staying above 98.5%. Because it is backed by the government of India, it carries an immense trust factor. However, it's always critical to declare your medical history accurately to ensure smooth claim processing.

LIC term insurance vs HDFC Life Click2Protect: Which is better?

LIC offers unmatched sovereign trust and an excellent rural and urban service network, but its premiums can be slightly higher than private insurers. Private plans like HDFC Life Click2Protect often provide lower premiums, more innovative riders (like income-replacement or wellness discounts), and a smoother digital experience. Both are highly reliable; your choice depends on whether you value government backing or aggressive pricing and features.

What is the Saral Jeevan Bima plan?

Saral Jeevan Bima is a standardized, simple pure-term insurance product mandated by the IRDAI across all insurers. Its features are identical regardless of which company you buy it from. It typically provides coverage up to ₹25 Lakhs, making it an excellent entry-level policy for first-time buyers or those with lower coverage requirements.

How to claim LIC term insurance after death?

To claim LIC term insurance, the nominee must visit the home branch where the policy is serviced. They need to submit the death claim form, the original policy document, the municipal death certificate, and their KYC documents. If the claim is straightforward and non-investigated, LIC typically settles it within 15 to 30 days of receiving all the completed documents.

Can I change the nominee in my LIC term policy online?

While LIC has significantly upgraded its e-services portal to handle premium payments, address updates, and loans, changing a nominee often still requires submitting a physical 'Change of Nomination' form at your servicing branch for verification. Always confirm the current digital capabilities on the LIC portal for your specific policy type.

LIC Term Insurance — Compare Plans, Premium Calculator & Honest Reviews

By Mahesh Chaube, CFP|Last updated: August 2026

Reviewed by Laveena Vijayi — BharatSaver Editorial Team

By Mahesh Chaubey, CFP — Last reviewed: May 2026
Reviewed by Laveena Vijayi — BharatSaver Editorial Team

Guide Quick Index

13 Sections

1Quick Take — Which LIC Term Insurance Plan Is Best for You?2LIC Term Insurance Premium Calculator 3LIC Term Insurance Plans — Comparison Guide 4Key Features & Benefits of LIC Term Insurance 5How LIC Term Premiums Are Calculated (Short & Practical)6LIC vs. Private Insurers — Premium & Feature Comparison 7Riders & Add-ons — What to Consider (and What to Avoid)8Claim Settlement — Step-by-Step & Timelines 9How to Buy LIC Term Insurance Online — Quick Steps 10Real Case Studies & Customer Experiences 11Beyond Term Insurance: Complete Financial Planning 12Also Read: Related LIC Plan Guides 13Conclusion & Recommended Next Step

Quick Take — Which LIC Term Insurance Plan Is Best for You?

For most buyers who want low cost + high trust, LIC New Tech-Term (Plan No. 954) is the best overall choice because of its competitive online-only premium. If you prefer in-person guidance for a high-value policy, consider the offline counterpart LIC New Jeevan Amar (Plan No. 955). For very small/simple needs, Saral Jeevan Bima is a good starter. For comprehensive financial planning, use our retirement corpus calculator to determine the right coverage amount. I generally advise against Return-of-Premium (ROP) plans like Jeevan Kiran unless you prefer guaranteed return of paid premiums and accept significantly higher cost.

LIC Term Insurance Premium Calculator

Get a free LIC term quote in 2 minutes — enter age & desired cover. No obligation.

We used live premium examples from market aggregators (PolicyBazaar, PolicyX) for common scenarios. This LIC term insurance calculator helps you get an exact quote for your profile—premiums for a LIC term insurance 1 crore policy differ widely by age and product.

Estimated Monthly Premiums for ₹1 Crore Cover (30-Year Term, Non-Smoker, Male)

Age	LIC Tech-Term (Online)	LIC Jeevan Amar (Offline)	Private Insurer Avg.
25 Years	₹700 - ₹850	₹850 - ₹1,000	₹550 - ₹750
30 Years	₹900 - ₹1,100	₹1,100 - ₹1,300	₹750 - ₹950
35 Years	₹1,300 - ₹1,600	₹1,600 - ₹1,900	₹1,100 - ₹1,400
40 Years	₹2,100 - ₹2,500	₹2,500 - ₹3,000	₹1,800 - ₹2,200

Note: These are indicative estimates based on historical aggregator data. Actual premiums vary based on medical history, specific plan parameters, and GST.

LIC Term Insurance Plans — Comparison Guide

Plan Name	Min Age	Max Age	Max Cover	Online Buy?	Best For
LIC Tech-Term (954)	18	65	No Limit	Yes	Cheapest pure term cover online
LIC Jeevan Amar (955)	18	65	No Limit	No (Agents)	Offline buyer seeking agent help
Saral Jeevan Bima (859)	18	65	₹25 Lakh	Yes	Simple, low-cover starter plan
LIC Jeevan Kiran (870)	18	65	No Limit	Yes	Risk-averse buyers wanting ROP

Subject to LIC's underwriting and maximum coverage limits based on income.

1. LIC New Tech-Term — Plan No. 954

Type: Online-only, pure term (non-participating)
Key benefit: Lowest LIC premiums thanks to online rebate.
Best for: Self-directed, tech-savvy buyers who want cheapest pure protection from LIC.

2. LIC New Jeevan Amar — Plan No. 955

Type: Offline equivalent of Tech-Term, sold via agents.
Key benefit: Agent support and servicing convenience.
Best for: Buyers who value face-to-face help for application & servicing.

3. Saral Jeevan Bima — Plan No. 859

Type: Standardized pure-term product mandated by IRDAI for simplicity.
Key benefit: Simple features, accessible; usually covers up to ₹25 Lakh.
Best for: First-time buyers and low-cover needs.

4. LIC Jeevan Kiran — Plan No. 870 — ROP

Type: Return-of-Premium term plan.
Key benefit: All base premiums returned on survival (excl. taxes, rider premiums).
Best for: Highly risk-averse buyers who want a savings-like result — but be aware of the high cost.

Key Features & Benefits of LIC Term Insurance

High Sum Assured: LIC term plans offer substantial coverage amounts, often going up to ₹1 crore and beyond, ensuring your family's financial needs are fully met.
Affordable Premiums: For a non-smoker, a high-value lic term insurance 1 crore policy can be secured for a very competitive monthly premium, especially when purchased online.
Flexible Payout Options: Nominees can choose to receive the death benefit as a lump sum, as a regular income, or a combination of both, providing flexibility to manage finances.
Rider Availability: You can enhance your protection by adding riders for accidental death, disability, or critical illness.
Tax Benefits: Premiums paid are eligible for tax deductions under Section 80C, and the death benefit payout to the nominee is tax-free under Section 10(10D). Compare your options with our tax regime calculator and explore savings alternatives like our FD vs PPF calculator and PPF calculator for comparing investment returns.
Multiple Premium Payment Terms: Choose from Single, Regular, or Limited premium payment terms to align with your financial capacity. Compare these with our LIC premium calculator for all available plans.

How LIC Term Premiums Are Calculated (Short & Practical)

Premiums are actuarial — they reflect the insurer’s assessment of risk. Main factors:

Age at entry — biggest driver (younger = cheaper).
Smoker / tobacco use — smokers pay materially higher premiums.
Sum assured — higher cover increases premium linearly.
Policy term & PPT — longer terms and different paying terms affect cost.
Gender & health — underwriting can adjust prices based on gender and health disclosures.
Riders — each rider adds a premium.

Small changes (1–2 years of age, smoker → non-smoker) can change monthly premium noticeably — always pull an instant quote using our main LIC premium calculator.

LIC vs. Private Insurers — Premium & Feature Comparison

LIC combines a nationwide service network and a long history of paying claims, making it the natural choice for buyers who value offline support and brand trust. Recent online plans (Tech-Term, Digi Term) now offer competitive pricing for self-service buyers. For comprehensive wealth planning, compare with our FD vs PPF calculator, explore mutual fund options, and check fund overlaps for diversification.

Feature	LIC (e.g., Tech-Term)	Top Private Insurer A	Top Private Insurer B
Premium Cost	Generally competitive, especially for online plans.	Often very competitive, can be lower.	Competitive, especially with wellness-linked discounts.
Claim Settlement Ratio (CSR)	Very High (98.52% for FY2022-23)	High (97-99% range)	High (97-99% range)
Trust Factor	Highest (Govt.-backed)	High (Regulated by IRDAI)	High
Features & Riders	Standard options (AD&DB, CI)	Often more innovative features	Wide range of flexible riders
Purchase Process	Improving online, still strong offline	Excellent, seamless online experience	Strong digital-first experience

Riders & Add-ons — What to Consider (and What to Avoid)

Worth considering

Accidental Death & Disability (AD&DB): inexpensive and high incremental protection.
Critical Illness (CI): useful if you don’t have robust health cover.

Use caution

Return-of-Premium (ROP): high cost; financially often inferior to buying pure term + investing the difference.
Excessive layering of riders: can push your monthly outlay much higher; buy only what materially improves your family’s protection.

Claim Settlement — Step-by-Step & Timelines

Intimation

Nominee files claim at servicing branch with death certificate, original policy & KYC.

Verification

LIC verifies documents; may request hospital records or post-mortem if required.

IRDAI timelines

Non-investigated claims to be settled within 30 days of receiving all documents; investigations can extend timelines (up to ~120 days for complex cases).

Tip

Keep digital copies & a claim folder for your nominee to speed the process.

How to Buy LIC Term Insurance Online — Quick Steps

1
Calculate Premium
Use the calculator to set sum assured, age and term.
2
Visit LIC e-services portal
Choose the New Tech-Term option and start application.
3
Fill the form
Provide personal, health & nominee details accurately.
4
Upload Documents & Pay
Upload PAN/Aadhaar and necessary documents; pay the first premium.
5
Complete Medical Exam
Complete any medical tests requested by LIC.
6
Receive Policy Documents
Receive policy documents digitally / physically after issuance.

Real Case Studies & Customer Experiences

Case Study 1: Raj, the Early Planner. Raj, a 28-year-old software engineer, bought a ₹1 Crore LIC term insurance plan until age 65. His premium was just ₹1,200/month. By buying early, he locked in a low rate for his entire working life.

Case Study 2: Sunita, the Late Starter. Sunita, a 45-year-old business owner, realized she was underinsured. She opted for a ₹1.5 Crore cover until age 70. Her premium was higher, around ₹4,500/month, but it gave her immense peace of mind.

Beyond Term Insurance: Complete Financial Planning

Calculate Your Coverage Needs: Use our retirement corpus calculator to determine the right insurance amount for your family's financial security.
Compare Fixed Income Options: Check our FD vs PPF calculator, explore PPF returns, and use our loan optimizer for personal finance needs.
Tax Optimization: Plan your tax strategy using our tax regime calculator to maximize post-tax returns on your insurance and investments.
Diversified Investing: If considering equity investments, use our mutual fund screener and mutual fund overlap calculator to build a balanced portfolio.
Government Schemes: Explore supplementary retirement income with Atal Pension Yojana (APY), National Pension System (NPS), or Sukanya Samriddhi Yojana (SSY) for child planning.

Also Read: Related LIC Plan Guides

While term insurance provides pure protection, LIC's endowment plans offer a combination of savings and insurance. Compare them here, and use our LIC maturity calculator to understand full-term benefits:

LIC Jeevan Anand: A classic plan that combines savings with whole-life cover.
LIC Jeevan Umang: Provides a guaranteed income for life after the premium paying term.
LIC Jeevan Labh: A limited premium payment plan for goal-based savings.
LIC Single Premium Endowment: One-time investment with guaranteed returns and life cover.
LIC Jeevan Utsav: Another endowment option for medium-term planning.

Conclusion & Recommended Next Step

LIC term insurance offers an unparalleled combination of trust and security. For most users, the LIC Tech-Term plan offers the best balance of low cost and high trust. To create a comprehensive financial safety net, consider combining term insurance with other savings and investment vehicles.

For Your Insurance Needs: Use our LIC premium calculator to compare all available plans, explore maturity benefits if considering endowment plans, and check surrender value options for policy flexibility. If you have dependents, the LIC child plan calculator can help secure their future.

For Investment & Savings: Compare with our FD vs PPF calculator, explore PPF investment returns, use mutual fund screener for equity options, and check fund diversification to build a balanced portfolio.

For Complete Financial Planning: Calculate your total retirement needs with our retirement corpus calculator, optimize your tax situation using our tax regime calculator, manage your debt with our loan optimizer, and explore government schemes like APY, NPS, and SSY for additional income streams.

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LIC Term Insurance — Compare Plans, Premium Calculator & Honest Reviews

Guide Quick Index

Quick Take — Which LIC Term Insurance Plan Is Best for You?

LIC Term Insurance Premium Calculator

LIC Term Insurance Plans — Comparison Guide

1. LIC New Tech-Term — Plan No. 954

2. LIC New Jeevan Amar — Plan No. 955

3. Saral Jeevan Bima — Plan No. 859

4. LIC Jeevan Kiran — Plan No. 870 — ROP

Key Features & Benefits of LIC Term Insurance

How LIC Term Premiums Are Calculated (Short & Practical)

LIC vs. Private Insurers — Premium & Feature Comparison

Riders & Add-ons — What to Consider (and What to Avoid)

Worth considering

Use caution

Claim Settlement — Step-by-Step & Timelines

Intimation

Verification

IRDAI timelines

Tip

How to Buy LIC Term Insurance Online — Quick Steps

Calculate Premium

Visit LIC e-services portal

Fill the form

Upload Documents & Pay

Complete Medical Exam

Receive Policy Documents

Real Case Studies & Customer Experiences

Beyond Term Insurance: Complete Financial Planning

Also Read: Related LIC Plan Guides

Conclusion & Recommended Next Step

Frequently Asked Questions

What is the LIC Tech-Term Plan and how is it different?

Can I buy LIC term insurance online?

How much premium for ₹1 Crore LIC term insurance for a 30-year-old non-smoker?

Which is better: LIC Tech-Term or LIC Jeevan Amar?

Are return-of-premium (ROP) plans worth it?

Does LIC settle term claims reliably?

LIC term insurance vs HDFC Life Click2Protect: Which is better?

What is the Saral Jeevan Bima plan?

How to claim LIC term insurance after death?

Can I change the nominee in my LIC term policy online?

Want a Detailed Policy Payout Summary on WhatsApp?

Related Tools in This Category