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LIC Term Insurance User Reviews

101 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
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.4%
Starting From ₹ 1398/Month
Claim Settlement 24hr Claim Settlement
Key Features:
  • Right Green Tick Special Exit Benefit
  • Right Green Tick Terminal illness
  • Right Green Tick Accidental Death
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.7%
Starting From ₹ 1132/Month
Key Features:
  • Right Green Tick Special Exit Benefit
See More Plans
Rating of LIC
4.8
Based on
101 User reviews

  • Time-saving process

    The process of buying the LIC Term Insurance Policy from InsuranceDekho is extremely time-saving. In a matter of a few minutes, I was able to complete all the required steps that were involved in buying the policy from InsuranceDekho. So, if you want to save time, you can buy this policy from InsuranceDekho.

    D
    Devansh Kapri
    On: Jun 22, 2023

  • Convenient steps

    Buying the LIC Term Insurance Policy from InsuranceDekho is extremely easy. All the steps involved were quite easy and that's why I faced no problems during the overall purchase.

    M
    Miran Kathuria
    On: Jun 21, 2023

  • A good investment choice

    Buying a term insurance plan is definitely one of the best choices. That’s why I decided to buy the LIC Term Insurance Policy from InsuranceDekho. The plan offers a range of benefits also. So, I would suggest others as well buy the LIC Term Insurance Policy from InsuranceDekho.

    K
    Kushla Wadhwa
    On: Jun 20, 2023

  • Affordable Coverage for a Specific Time Period

    The LIC Term Insurance Policy offers affordable coverage for a specific time period, making it an ideal choice for individuals seeking temporary financial protection. After going through the policy, I bought it from InsuranceDekho. The premiums are budget-friendly, and the coverage amount can be tailored to meet specific needs. 

    Y
    Yash Nagpal
    On: Jun 19, 2023

  • The plan is reasonably priced

    The LIC Term Insurance Policy available on InsuranceDekho matched my budget. I used the online premium calculator to analyze the premium for the LIC Term Insurance Policy and only then I went ahead with the policy. 

    S
    Shradha Bist
    On: Jun 16, 2023

  • A list of top insurance companies is available

    On the website of InsuranceDekho, it was very easy to find a list of the top insurance companies. I read about the pros and cons of a number of plans as well on InsuranceDelho. Finally, I bought the LIC Term Insurance Policy.

    A
    Ashish Gokhale
    On: Jun 15, 2023

  • Additional Riders Available

    I liked the fact that this LIC Term Insurance Policy offered various additional riders that could be customized to suit my specific needs. Whether it was a disability rider or a waiver of premium rider, I had the flexibility to enhance my coverage. Happy with the policy. Thank you InsuranceDekho for suggesting it to me. 

    K
    Krish Ahuja
    On: Jun 14, 2023

  • Accessible and Knowledgeable Customer Service

    I was looking for a good tern plan for myself. I stumbled upon InsuranceDekho and found that the customer service team associated with the LIC Term Insurance Policy has been consistently accessible and knowledgeable. Whenever I have had questions or needed assistance, the representatives have been prompt and helpful in addressing my concerns. 

    R
    Riddhi Verma
    On: Jun 12, 2023

  • Trustworthy Company

    At InsuarnceDekho, I chose the LIC Term Insurance Policy because of its reputation and trustworthiness. They have a solid financial standing and a history of fulfilling their obligations, providing me with confidence in their ability to deliver on their promises. 

    A
    Aakash Bhel
    On: Jun 07, 2023

  • Strong Reputation

    I opted for the LIC Term Insurance Policy from InsuarnceDekho. Their strong financial stability and solid track record give me confidence in their ability to fulfill their commitments. It's essential to select a life insurance policy from a trusted and reliable provider.

    R
    Radhika Ray
    On: Jun 05, 2023

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Why to Buy Term Insurance Policy Online from InsuranceDekho

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

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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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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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