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LIC Term Insurance User Reviews

99 reviews Rate This
LIC Term Insurance
Highlights
Claim Settlement Ratio98.62%
Customer Care8:00 AM to 8:00 PM
Death Benefit Paid For73,3809 Policies
Inception1956
Presence2048 Branches
Total Death Benefit Paid12797.85 Crore

Term Life Insurance Premium Calculator

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Choose required coverage to secure your family’s future

50L
1Cr
1.5Cr
2Cr
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
1.5 Crore
2 Crore
2.5 Crore
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.51%
Starting From ₹ 707/Month
24hr Claim Settlement
Key Features:
  • Zero Cost Benefit
  • Terminal Illness
  • Nominee's Choice payout
  • Voluntary Top Up
  • Tax Benefits
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹97.84%
Starting From ₹ 812/Month
24hr Claim Settlement
Key Features:
  • Waiver of Premium on Disability
  • Terminal Illness
  • Life Stage Benefit
  • Tax Benefits
  • Special Exit Benefit
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.4%
Starting From ₹ 771/Month
24hr Claim Settlement
Key Features:
  • Tax Benefits
  • Terminal illness
See More Plans
Rating of LIC
4.8
Based on
99 User reviews

  • An affordable plan

    I used the online term calculator to evaluate the premium of the LIC Term Insurance Policy. When I found that the premium of the plan matched my budget, I instantly bought it.

    Read More
    D
    Dev Shree
    On: Nov 24, 2023

  • I got friendly suggestions

    When I was buying the LIC Term Insurance Policy from InsuranceDekho, the team provided me with friendly advice. They not only helped me select the desired term plan but also explained everything about the buying process.

    Read More
    D
    Deepti Garg
    On: Nov 21, 2023

  • Empowerment through Term Insurance Knowledge

    With the LIC Term Insurance Policy, InsuranceDekho empowers customers like me  with valuable knowledge about term insurance. It's a knowledge hub for making well-informed financial choices.

    Read More
    M
    Mamta Khati
    On: Nov 15, 2023

  • Comprehensive Term Insurance Choices

    InsuranceDekho offers a wide array of term insurance policies. I could find the perfect coverage under the LIC Term Insurance Policy for my family's future.

    Read More
    K
    Kamal Saran
    On: Nov 08, 2023

  • Informative Blog

    The blog section on the InsuranceDekho website is very informative. It helped me understand various aspects of the LIC Term Insurance Policy simply and clearly.

    Read More
    S
    Sushmita Dev
    On: Nov 07, 2023

  • Clear Policy Terms

    The LIC Term Insurance Policy terms for my term insurance were crystal clear. I appreciate the transparency, and I knew exactly what to expect.

    Read More
    K
    Kishan Rajput
    On: Nov 03, 2023

  • Educational Resources

    The educational resources on the website helped me understand the importance of term insurance and how to choose the right plan. After reading the articles, i bought the LIC Term Insurance Policy.

    Read More
    A
    Annanya Kohli
    On: Nov 02, 2023

  • Excellent Coverage

    The LIC Term Insurance Policy offered by InsuranceDekho provides excellent coverage. I feel secure knowing that my loved ones are taken care of.

    Read More
    R
    Rajdeep Bains
    On: Oct 31, 2023

  • Protecting My Loved Ones

    With the LIC Term Insurance Policy from InsuranceDekho, I feel confident that I'm protecting my loved ones' financial future. It's a decision I'm truly satisfied with.

    Read More
    L
    Luxmi Singh
    On: Oct 30, 2023

  • Swift Claim Settlements

    I recently had to make a claim with InsuranceDekho's LIC Term Insurance Policy, and they impressed me with their swift response. It's comforting to know that your family will receive the support they need without delay.

    Read More
    S
    Shiva Mahavir
    On: Oct 26, 2023

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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.

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FAQ About LIC Term Insurance

  • 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.

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