Term Life Insurance
LIC Tech Term Insurance Review 2026
Those who trust LIC and want the most affordable term insurance
★★★★★4.2
Last updated: 15 December 202598.64%
Claim Settlement Ratio
98.64% (FY 2023-24)
Excellent track record of settling claims
Key Features
✓LIC-backed — unmatched trust in India
✓Cover up to Rs 1 crore
✓Very competitive premiums
✓Special premium rates for women
✓Online-only purchase for lower premiums
Coverage Details
Plan Details
| Min Coverage | ₹5 Lakh |
| Max Coverage | ₹1 Crore |
| Coverage Unit | life cover in Rs |
| Claim Settlement Ratio | 98.64% (FY 2023-24) |
| Premium Starts From | Rs 440/month (Rs 1 crore, 30-year-old male, non-smoker) |
| Entry Age | 18 to 65 years |
| Renewal | Policy term up to age 80 |
Plan Options
Level Sum AssuredSingle Life
Rating Breakdown
features
4/5
value
4.5/5
support
4/5
benefits
4.2/5
Pros & Cons
✓Pros
- ✔Backed by LIC — highest trust factor in India
- ✔Very affordable premiums
- ✔Cover up to Rs 1 crore online
- ✔98.64% claim settlement ratio
- ✔No medical tests for low sum assured options
✗Cons
- ✘Maximum cover of Rs 1 crore only (low for high earners)
- ✘Limited rider options
- ✘Basic plan with fewer features than private players
Benefits Included
- ✔Death benefit as lump sum
- ✔No survival benefit (pure term plan)
- ✔Rebate for higher sum assured
Exclusions
- ✘Suicide within 12 months of policy
- ✘Non-disclosure of material facts
Frequently Asked Questions
LIC has a claim settlement ratio of 98.64% (FY 2023-24). This indicates the percentage of claims that were successfully settled by the insurer out of total claims received.
LIC Tech Term Insurance premiums start from Rs 440/month (Rs 1 crore, 30-year-old male, non-smoker). The actual premium depends on your age, sum insured, plan variant, and number of members covered.
LIC Tech Term Insurance offers coverage from ₹5 Lakh to ₹1 Crore (life cover in Rs).
LIC Tech Term Insurance offers multiple payout options including lump sum payment and monthly income to nominees. Check the plan options: Level Sum Assured, Single Life.
LIC Tech Term Insurance is available for individuals aged 18 to 65 years. Coverage continues policy term up to age 80.
