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LIC Tech Term Insurance User Reviews

101 reviews Rate This
LIC
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
Rating of Tech Term Plan
4.7
Based on
14 User reviews

  • Paper-free policy issuance

    I Bought the LIC Term Insurance- Tech Term Plan from InsuranceDekho. Must say that the process was very easy to follow and I was able to upload the documents on the portal rather than submitting the paperwork. I was highly impressed by the paper-free policy issuance offered by InsuranceDekho. It is a very great initiative taken by the team to provide a seamless experience for everybody. 

    S
    Sudha Madhuri
    On: Sep 04, 2023

  • Received the best guidance

    I had some queries related to my LIC Term Insurance- Tech Term Plan which I had purchased from InsuranceDekho. So I contacted the customer care number of InsuranceDekho to get my queries resolved, the customer care assistant listened to my queries and provided me with effective solutions. Thanks to InsuranceDekho for helping me clear my doubts. 

    K
    Khushi Trivedi
    On: Aug 29, 2023

  • Easy premium calculation

    While purchasing a term plan from InsuranceDekho I learnt about the online term insurance premium calculator from which I was able to estimate premiums for different term plans. After comparing several term insurance plans I purchased the LIC Term Insurance- Tech Term Plan from InsuranceDekho. The premium calculator was easy to use.

    S
    Shivam Sen
    On: Aug 25, 2023

  • Good customer service

    I was not able to purchase the LIC Term Insurance- Tech Term Plan from InsuranceDekho’s website. I called the helpdesk number of InsuranceDekho, and the customer service specialist helped me through every step and made it very easy for me to purchase the policy. 

    R
    Renu Mittal
    On: Aug 11, 2023

  • Time saver website

    All the term insurance policy services such as renewal, claim settlement process, policy issuance are time-saving on InsuranceDekho’s website. By following the instructions on the website it took me less than 5 minutes to purchase the LIC Term Insurance- Tech Term Plan

    D
    Debjeet Singh
    On: Aug 09, 2023

  • 5 minutes policy issuance

    Purchased the LIC Term Insurance- Tech Term Plan from InsuranceDekho. I am extremely happy with the kind of services provided. After making payment for the term plan, the policy information was sent to my email ID, and the policy was issued within minutes. 

    P
    Priyansh Vardhan
    On: Aug 07, 2023

  • Dedicated support team

    InsuranceDekho has a knowledgeable customer support team that is dedicated to providing effective solutions for its customers. I had some queries related to my LIC Term Insurance- Tech Term Plan and the customer support specialist answered my queries.

    D
    Dhruv Patel
    On: Jul 31, 2023

  • Best Term Insurance Provider!

    I had a wonderful experience with InsuranceDekho while buying the LIC Term Insurance- Tech Term Plan. Their website was easy to navigate, and I could quickly compare different plans to find the most suitable one. I felt confident in my decision, knowing that my family's financial future is secure. InsuranceDekho truly stands out as the best term insurance provider.

    K
    Kiran Vijay
    On: Jul 28, 2023

  • Reliable and Affordable Term Insurance

    I purchased the LIC Term Insurance- Tech Term Plan from InsuranceDekho, and I must say, it's a reliable and affordable plan. The process was smooth, and the coverage provided is excellent. I feel secure knowing my family's future is protected.

    R
    Rupali Dutt
    On: Jul 24, 2023

  • Expert Guidance from Insurance Agents

    The insurance agents at InsuranceDekho are well-informed and offered excellent guidance throughout the policy selection process. They patiently answered all my questions that I had about the LIC Term Insurance- Tech Term Plan and helped me choose the right plan as per my requirements. 

    R
    Richa Manna
    On: Jul 20, 2023

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.

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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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