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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
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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
  • 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

  • The Flexibility of Time

    InsuranceDekho is the best online insurance company. I would recommend their services to everyone. My heartful thanks to the customer support team of the company for helping me throughout the process. I had a great time purchasing the LIC Term Insurance Policy through your online platform. 

    S
    Shivani Mohanty
    On: Jun 01, 2023

  • Customization as per personalized demands

    The LIC Term Insurance Policy offers customizable options that allow me to personalize my coverage. From choosing the term length to adding riders, I have the flexibility to tailor the policy to my specific needs, making it a valuable asset in my financial portfolio. I am so happy that I took the decision to buy this policy from InsuarnceDekho.

    K
    Kanchan Garg
    On: May 29, 2023

  • Easy-to-understand policy

    The LIC Term Insurance Policy is quite transparent and its simple terms and conditions are easy to understand. And when I bought this policy from the InsuarnceDekho portal, I knew that there were no hidden clauses or surprises. 

    P
    Priyanka Kandwal
    On: May 25, 2023

  • Good articles are available on the website

    While looking for a good term plan, I read some really good articles about the plans and everything related to insurance on the InsuranceDekho website. And finally bought the LIC Term Insurance Policy. The news section of the website was updated and helped me gain some knowledge. 

    G
    Geeta Kapoor
    On: May 23, 2023

  • Received timely assistance

    I contacted InsuranceDekho’s team because I had some queries related to my LIC Term Insurance Policy. The customer care team reached out to me quickly and helped me resolve my queries regarding my Kotak e-Term plan. I am very thankful to InsuranceDekho for the services provided.

    S
    Shelly Krewal
    On: May 18, 2023

  • The plan offers a bunch of benefits

    The LIC Term Insurance Policy available on InsuranceDekho has a bunch of benefits to offer. The plan is not only reasonably priced but also has exciting features to offer. 

    N
    Nisha Yadav
    On: May 16, 2023

  • Highly rated by customers

    The LIC Term Insurance Policy available on InsuranceDekho is one of the top-rated life insurance plans. Most of the customers have positively reviewed the Future Generali Wealth Protect plan, thus I was satisfied with buying it. 

    T
    Tirtho Roy
    On: May 09, 2023

  • Affordable-term plans offered

    At InsuranceDekho I was able to find some best term plans offered by top insurance companies in India. It was very easy for me to compare some of the best term insurance plans on one platform. I used the premium calculator to compare term plans within my budget and after comparing I purchased LIC Term Insurance Plan from InsuranceDekho without any hassles. 

    B
    Bhumika Raina
    On: May 05, 2023

  • Policies suiting everyone’s pocket

    At InsuranceDekho I was able to find some best term plans offered but also which were easy on the pocket as well. It was easy for me to compare some of the best term insurance plans on one platform. And after comparing I purchased LIC Term Insurance Plan from InsuranceDekho without any hassles.

    V
    Vivek Bhardwaj
    On: Apr 27, 2023

  • Good-to-go plan

    The LIC Term Insurance plan that I bought from the InsuranceDekho website is a good term insurance plan because it has amazing features and benefits. I am happy that I bought this plan and would recommend this to all. This plan is quite affordable and provides good coverage. 

    H
    Harshil Menon
    On: Apr 20, 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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