Compare & Buy Car, Bike and Health Insurance Online - InsuranceDekho
Claim, renew, manage & moreLogin
Hurry Up!
Save upto ₹54,600 in taxes under 80C & 80D. Buy a term insurance plan now!
View Plans

LIC Term Insurance Premium Calculator

92 reviews Rate This
Claim Settlement Ratio98.62%
Customer Care8:00 AM to 8:00 PM
Death Benefit Paid For73,3809 Policies
Presence2048 Branches
Total Death Benefit Paid12797.85 Crore

Term Life Insurance Premium Calculator


  • Male
  • Female

Date of Birth


Do you smoke or chew tobacco?

  • Yes
  • No

Choose required coverage to secure your family’s future

Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Best LIC Term Insurance Plans

1 Crore
2 Crore
    Tax Free
    1 Cr
Starting From 707/Month
24hr Claim Settlement
Key Features:
  • Zero Cost Benefit
  • Terminal Illness
  • Nominee's Choice payout
  • Voluntary Top Up
  • Tax Benefits
    Tax Free
    1 Cr
Starting From 857/Month
24hr Claim Settlement
Key Features:
  • Waiver of Premium on Disability
  • Terminal Illness
  • Life Stage Benefit
  • Tax Benefits
    Tax Free
    1 Cr
Starting From 771/Month
24hr Claim Settlement
Key Features:
  • Tax Benefits
  • Terminal illness
See More Plans

LIC Term Insurance Mediclaim Policy Premium Calculator

Wishing for a tool that will make the process of calculating the payable premium for your LIC's term insurance? Yes, that is indeed a possibility now! As a customer, all you are asked to do is to put in the asked information in the tool/calculator, and it will provide the results.

LIC provides 2 term insurance plans with varying sum assured levels and features. LIC premium calculator helps you to adjust the sum assured you would want your loved ones or the family to receive after your death.

What Are The Things You Should Think About Before Using The Premium Calculator?

While the tool reduces a lot of customer efforts, it's better to proceed with this tool, keeping a few things in mind. Here are some of the things that you should consider before you start utilising the premium calculator:

  • The Selection of Assured Amount

There are multiple factors that come into play when you are trying to make the decision of considering the assured amount. It can be the economical safety of your lady love, or for the well-being of the senior members of your family, or even the higher education of your children. It is extremely vital to select the maximum assured amount.

  • The Vital Role of Age

Prior to considering the premium, you should have the understanding how age plays a big role in this. Therefore, it is one of the biggest prerequisites prior to utilising the Premium calculator.

Remember, the higher the age of the insured person at the time of purchasing the term plan, the higher will be the premium amount.

  • Occupation Types

The risks involving your occupation or work also play a huge role, so it is another vital factor. Before using the premium calculator, consider the type of your work and the work hazards that come with it.

  • The Family Medical History

It is yet another strong factor prior to utilising the premium calculator. Your family medical history and any hereditary diseases are strong points to consider before you utilise the calculator.

  • Premium payment frequency

If premiums are paid on a monthly basis, the company's administrative expenses rise. Because of this, monthly premiums are a little bit more expensive than annual or biannual premiums.

Steps To Use LIC Term Insurance Premium Calculator

Lessening the customer effort is what InsuranceDekho always look forward to. It is why they have made sure to implement the calculator so you don't have to bite your nails while calculating premiums on your own.

Step 1: Visit InsuranceDekho's website and navigate to the LIC Term Premium Calculator

Step 2: On the page, fill your personal details in the LIC Term Insurance Premium calculator such as gender, age, life cover, and cover-up to which age.

Step 3: After filling up the required details in the LIC Term Premium Calculator, the premium quote will be generated.

You can change the variable such as age, life cover and cover-up to change that will change the premiums rates.

Benefits of LIC Term Insurance Premium Calculator

The following benefits you get from using LIC Term Insurance Premium Calculator:

  • Hassle-Free and Easy to Use: The calculator is easy to use. By entering some basic details, the exact amount of the premium is calculated for a LIC term insurance plan.
  • Cost-Effective: By using a LIC Term insurance premium plan calculator, you can opt for the highest possible life cover amount that suits your requirements. You can also opt for Additional Benefits at the best possible rate of premium.
  • Compare and Contrast Between Various Premiums: LIC Premium Calculator helps you to compare the premiums offered by various plans. This will help you to determine which is the most suitable plan for you and your family by weighing the premium amount and the time frame in which you have to pay.


  • How frequently can I pay my term insurance plan premiums with LIC?

Different methods of premium payment are accepted for LIC's term insurance policies. According to their needs, policyholders can choose to pay their premiums monthly, quarterly, half-yearly, or annually.

  • Are the fees for term insurance tax-exempt?

Yes, you are eligible to deduct the cost of your term insurance premiums from your taxable income tax-free. Section 80C of the Income Tax Act of 1961 permits a deduction for premiums paid up to INR 1.5 lakhs.

  • How can I pay my online LIC life insurance premium?

You must pay your insurance premium on an annual, half-yearly, quarterly, or monthly basis, depending on the chosen insurance policy. Visit a LIC location to pay your insurance premiums in the easiest way possible. Cash, check, demand draft, credit card, debit cards, net banking, electronic clearing system, etc., are all more convenient and time-saving ways to pay your insurance payment.

  • When the premium is not paid, what occurs?

When a term insurance plan's premium is not paid for the allotted time, the policy expires. In the event of a lapse, the policyholder forfeits any previously paid premiums and the coverage ends.

  • How long do premium payments need to be made?

The length of time that premiums must be paid varies amongst life insurance plans. If the plan offers the opportunity to pay premiums on a regular basis, payments are due for the duration of the coverage. For restricted premium payment options, premiums are due for a predetermined period of time that is less time than the insurance duration. When purchasing a single premium plan, a lump sum payment is due immediately. The term insurance plans offered by LIC require continuous premium payments.

LIC Term Insurance User Reviews

Write your review
What users are saying
  • All
  • The LIC Term Insurance Policy offered by InsuranceDekho provides excellent coverage. I feel secure knowing tha...

    Read More
    By Rajdeep Bains
    On: Oct 31, 2023
  • With the LIC Term Insurance Policy from InsuranceDekho, I feel confident that I'm protecting my loved ones' fi...

    Read More
    By Luxmi Singh
    On: Oct 30, 2023
  • I recently had to make a claim with InsuranceDekho's LIC Term Insurance Policy, and they impressed me with the...

    Read More
    By Shiva Mahavir
    On: Oct 26, 2023
  • Transparency is key in the world of insurance, and InsuranceDekho excels in this regard. Their LIC Term Insura...

    Read More
    By Sangeeta Acharya
    On: Oct 24, 2023
  • I've been a policyholder of the LIC Term Insurance Policy with InsuranceDekho, and it's provided me with total...

    Read More
    By Mukul Kapri
    On: Oct 19, 2023
Must BuyMust Buy

Why to Buy Term Insurance Policy Online from InsuranceDekho

  • Tax benefit upto 1,50,000*
  • Claim support everyday 10AM-7PM
  • 50 Lacs+ happy customers

Term Insurance News

LIC Term Insurance Contact Details

Reach us for help anytime

Claim Process at LIC Term Insurance

  • 1

    Claim Intimation

    In the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
  • 2

    Submission of Documents

    Claim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
  • 3

    Claim Evaluation

    Once the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.

Best Insurance Advisors in Your City.

LIC Term Insurance Premium Calculator FAQs

  • How often can I pay my premiums for LIC’s term insurance plans?

    LIC’s term insurance plans allow premium payments in different modes. Policyholders can pay premiums monthly, quarterly, half-yearly, or annually as his/her requirements.

  • Are Term insurance premiums exempt from tax?

    Yes, the premium paid for term insurance policies is allowed as a tax-free deduction from your taxable income. Premiums paid up to INR 1.5 lakhs can be claimed as a deduction under Section 80C of the Income Tax Act,1961.

  • What are the different ways of paying LIC Term Insurance premiums?

    LIC Term insurance premiums can be paid through cash, cheque, demand drafts, net banking, UPI, NEFT, mobile wallets, or any other digital mode.

  • Do Term insurance premiums include GST?

    Yes, a GST slab of 18% is added to the premium charged for a plan.

  • What happens when the premium is not paid?

    If the premium is not paid in case of term insurance plans for the specified duration, the policy lapses. In case of a lapse, the coverage halts and the policyholder loses the premiums paid earlier.

Find the right LIC Term Insurance for you
By clicking, I agree to *terms & conditions  and privacy policy.