Term Plan
Maximum protection at the most affordable price — the purest and most essential form of life insurance.
About Term Plan
LIC's Term Insurance Plans (Tech-Term, Jeevan Amar) are pure protection plans that provide the highest life cover at the lowest possible premium. A term plan has a simple premise: if the insured person dies within the policy term, their nominee receives the full sum assured. If the insured survives the term, the policy expires without any maturity benefit. This simplicity is what makes term plans so powerful — you can get a ₹1 crore life cover for as little as ₹8,000-12,000 per year. Every earning individual with financial dependents MUST have a term plan as the foundation of their financial planning. It ensures your family can maintain their lifestyle, repay loans, and meet future goals even in your absence.
Quick Benefits
- Highest sum assured at lowest premium
- Maximum financial protection for family
- Option for return of premium plans
- Critical illness rider available
- Accidental death benefit rider
- Tax benefit under Section 80C
Who Should Take This Plan?
Every earning individual with a family dependent on their income — term plan is non-negotiable.
People with home loans, car loans, or any outstanding debts whose family would be burdened.
Young professionals who want maximum coverage at minimum cost.
Breadwinners of the family who are the sole source of income.
Business owners whose family or business partners depend on their presence.
Anyone who wants to ensure their family can maintain their lifestyle in their absence.
Key Features
Maximum Coverage
Get life cover of ₹50 lakh to ₹5 crore+ at premiums as low as ₹7,000-15,000 per year.
Return of Premium Option
Certain term plans offer return of all premiums paid if you survive the policy term, eliminating the 'no returns' concern.
Critical Illness Rider
Add a critical illness rider to receive a lump sum on diagnosis of serious illnesses like cancer, heart attack, etc.
Accidental Death Benefit
In case of accidental death, nominee receives double or triple the sum assured for complete family protection.
Premium Flexibility
Choose between single pay, limited pay, or regular pay premiums based on your income and convenience.
Online Availability
LIC Tech-Term is available online making it easily accessible with transparent pricing.
Save Taxes While You Protect
Term plan premiums qualify for Section 80C deduction up to ₹1.5 lakh. The death benefit paid to nominees is completely tax-free under Section 10(10D). For return of premium variants, the maturity amount may also qualify for tax exemption. Term plans are one of the most tax-efficient protection products available.
Why This Plan Stands Out
Most Affordable Protection
₹1 crore coverage for less than ₹1,000 per month — no other product offers this ratio.
Foundation of Financial Plan
Every financial planner recommends term insurance as the first step before any other investment.
Vs ULIP/Endowment
For pure protection, term plans offer 10x more coverage at the same premium as investment-linked plans.
Loan Protection
Ensures home loans and other EMIs don't become a burden on family in case of policyholder's death.
Income Replacement
Replaces the breadwinner's income for the family, maintaining their financial lifestyle.
No Complexity
Simple, transparent product — maximum sum assured paid on death, zero complicated conditions.
Interested in Term Plan?
Let Atul Gitay guide you through the plan details and find the best option for your specific needs. Get a free, no-obligation consultation today.
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- Free consultation
- No sales pressure
- Personalised advice
- Quick response
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Get a free, no-obligation consultation with Atul Gitay today. He will help you find the right insurance plan.