5 min read
Updated on Apr 24, 2023
Buying a 1 Crore term insurance plan by LIC would allow you to secure the lives of your family with 1 Crore rupees in the event of your untimely and unforeseen death. This way you can ensure the financial security of your family. Let’s check its features, eligibility and benefits in this post.
LIC of India has crafted various term policies of 1 crore sum assured at easy to afford premium rates. These policies are available with a range of benefits to the policyholders and their beneficiaries.
LIC term insurance 1 crore plan is a pure risk protection term plan where the beneficiary of the plan receives 1 crore death benefit in the event of the death of the policyholder. This money can be used by the family of the insured to live a comfortable life and to take care of their needs.
Here are some benefits of LIC term insurance 1 crore plan:
Here are two options, namely:
|Parameters||LIC New Tech Term||LIC New Jeevan Amar|
|Entry Age||18 – 65 years||18 – 65 years|
|Maximum Maturity Age||80 years||80 years|
|Maximum Basic Sum Assured||50 lakhs||25 lakhs|
|Policy Term||10 – 40 years||10 – 40 years|
|Policy Purchase||Available Online Only||Available Offline Only|
|Premium Paying Term||Options of Regular Premium, Single Premium and Limited Premium available||Options of Regular Premium, Single Premium and Limited Premium available|
The New Tech Term plan is a 1 crore insurance policy from LIC that offer the option of monetarily securing the family of the insured. The 1 crore sum assured offered under the plan in case of sudden demise of the policyholder supports a family in managing the financial obligations smoothly. This plan is available online at the company portal.
Here are the features of the plan:
The Jeevan Amar Plan is a LIC 1cr plan of term insurance policy that is available only for its offline customers. This policy is available with the brokers, licensed agents, insurance marketing firms and so on. This is a pure protection that allow the family of the insured financial protection of 1 crore at easy premium rates.
Here is a sample to understand the premium payment option of the two 1 Crore LIC plans:
|Age of Policyholder (in years)||LIC New Tech Term Plan (Annual Premium)||LIC New Jeevan Amar (Annual Premium)|
To Sum Up
When it comes to LIC 1 Crore term insurance plans, the New Tech Term and Jeevan Amar are two plans which allow pure protection of 1 crore to the nominee of the insured. However, you must go through the plan details and eligibility for the policies before purchasing the one that fits you well.
View this post on Instagram
A 1 crore term insurance plan implies that the term insurance plan offer a sum assured of INR 1 crore to the family of the insured which is paid as a death benefit in the event of the policyholder's death.
There are many reasons why LIC is a good choice for term insurance policies. One such reason is that LIC has the best claims settlement ratio of over 98%, which is why it could successfully settle 98% of the claims that they receive.
Term insurance plans offer financial security for the entire family in case of the unfortunate death of the policyholder.
Some plans may allow you to get money back after term life insurance, but not with all term plans.
The sum assured received on maturity or surrender of a policy or upon the policyholder's death is completely tax-free.
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
Term insurance is an efficient and affordable way to protect a family's financial future against the sudden mishaps of life. However, if, for any reason,.
In today’s world, it is difficult to survive without earning and to earn, one needs to stay fit and fine without any disability. Thus comes,.
Do you know that at present, there are about 24 term insurance providers in our country, each claiming to be the best term insurance company in.
A life insurance policy secures a family monetarily if there is untimely demise of the policyholder during the policy term. If diagnosed with a terminal.
As the name suggests, Canara HSBC life insurance company was formed with the collaboration of three prominent financial establishments namely Canara bank, HSBC life insurance.
A term insurance plan is like a security that safeguards a family financially in the most unfortunate event of demise of the family head. Such.
When it comes to insurance, LIC is the most trusted insurance company in India. With a huge customer base, this largest insurer is also one.
LIC of India is one of the most trusted brands when it comes to securing the financial future of your family and dear ones. Let.
While we make plans and keep chasing our dreams, seldom do we realize that life is unpredictable. No matter what we are doing, and how.
Speak to our advisor
Mahindra Insurance Brokers Limited (A Mahindra Group Company) - Unit-202, A-Wing, 2nd Floor, Amiti Building, Agastya Corporate Park, Kamani Junction, LBS Marg, Kurla West, Mumbai - 400070. Tel: +91 22 66423800
Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).
Insurance is the subject matter of solicitation.
For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.
Copyright © 2023 Mahindra Insurance Brokers. All Right Reserved.
Verify your number to activate your best premium offer
Please enter the OTP sent to XXXXXX 4099 to continue