LIC Online e-Term Insurance Review 2023

LIC is a well-known and trusted brand in the insurance segment in India. One of the best term insurance plans that come from LIC is the e-Term Insurance Plan. Here are the features of the LIC Term Insurance Plan.

Main Features of LIC e-Term Plan

Minimum Entry age18 years (completed)
Maximum entry age60 year (nearest)
Maximum age at entry70 years (nearest)
Minimum policy term10 years
Maximum policy term40 years
Minimum sum assured50,00,000 (for non-smokers)
25,00,000 (for smokers)
Maximum sum assuredno limit
the amount can be paid yearlyamount can be paid yearly

Good Points of LIC e-Term Plan

  • No limit for the maximum Sum Insured limit
  • You can pay your amount either cash or online through net banking/credit card/debit card/Paytm/Google Pay
  • Amount Rates are different for smokers and non-smokers
  • If you pay online you get to save (by 35 percent) than the offline Term Plan of LIC (Amulya Jeevan-II)

Annual Premium For Healthy Male, Non-Smokers, Age 30 Years, Sum Insured 50,00,000 (50 Lakhs)

CompanyAmount(rupees)
LIC e-Term8202
LIC Offline Term Insurance
(Amulya Jeevan-II)
13090

Bad Points of LIC e-Term Plan

  • It’s more costly in comparison to other private players in the same segment.

Annual Premium For Healthy Male, Non-Smokers, Age 30 Years, Sum Insured 50,00,000 (50 Lakhs)

CompanyAmount(rupees)
ICICI Pru iCare II9470
LIC e-Term8202
Bajaj Alliance iSecure7623
SBI Life e-Shield7220
HDFC Life click2Protect6741
Max Life Online Term Plan4775
Aviva i-life4635
Aegon Religare iTerm4607
Reliance Online Term4029
  • This proposal for your own life will be only considered. If you want to buy a policy for your wife or any other family member. You Need to Buy Separately for them.
  • Not available for NRIs.

Things You Must Have to Buy This Plan

  • You need to undergo a health check-up During buying plan in India.
  • Bank Account Details and MICR code 
  •  Details of medical history (if any)
  • Details of family members
  • Details of your all existing insurance (if any, both Private or LIC )
  • PAN Number
  • Form 16 or ITR of the last three years

If you have all the above information/documents then log in LIC Website and buy this plan. Medical tests are necessary for this online term insurance plan.

If you have any problem during the process of buying LIC’s e-Term, then you can email contact support team of LIC.

Things to Take Care

  • No accidental benefit for the rider.
  • Maximum age is 75 Yrs.

Conclusions

It’s biggest Company of LIC for launching an online term insurance. But the pricing of the e-term is on higher side in comparison with other private company in the same segment. For non-smoker customers there is not much High Price in premium, it’s almost same as offline Term Plan of LIC (Amulya Jeevan-II). There is also no option rider available with the e-Term Plan. So this plan is only for customers who are looking for low price term plan with govt security and good claim settlement ratio. We would still suggested our readers to compare all the online insurance term plan and buy the one most work for you.

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