LIC Tech Term Plan 854
Online Protection Term Insurance Calculator
LIC Tech Term Plan 854 Overview
LIC Tech Term Plan 854 is a non-linked, without-profit, pure protection online term assurance plan. It offers financial security to the insured's family at highly affordable premium rates compared to offline plans.
Eligibility & Rules
- Minimum Sum Assured: ₹50,00,000
- Maximum Sum Assured: No Limit
- Policy Term: 10 to 40 Years
- Premium Paying Term: Regular, Limited, or Single
- Entry Age: 18 to 65 Years
Key Plan Benefits
- Death Benefit: Level Sum Assured or Increasing Sum Assured payable to the nominee.
- Maturity Benefit: Nil. Pure protection plan.
- Online Exclusive: Available only through LIC website for lower premiums.
Detailed Maturity Benefit
Nil. This is a pure risk protection term plan. No amount is payable on surviving the policy term.
Standard Policy Features
- Grace Period: 30 days for Yearly, Half-Yearly, and Quarterly premium payment modes, and 15 days for Monthly mode.
- Free Look Period: 30 days from the date of receipt of the policy document to review the terms and conditions.
- Loan & Surrender Facility: Not Applicable. Pure term plans do not offer maturity or surrender values.
- Tax Benefits: Premiums paid are eligible for tax deduction under Section 80C.
Example Calculation
| Parameter | Value |
|---|---|
| Sum Assured | ₹1,00,00,000 (1 Crore) |
| Age / Policy Term | 30 / 30 Years |
| Yearly Premium (Approx) | ₹9,500 |
| Total Paid Premium | ₹2,85,000 |
| Maturity / Total Benefits | ₹Nil (Pure Protection) |
Calculating…